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Sal & Caldeira Advogados

Beneficiary Owner Registration Under the New Regulation on the Registration of Legal Entities

With the entry into force on 8 March 2024 of the New Regulation on the Registration of Legal Entities, recently approved by Decree-Law no. 1/2024, of 8 March, all companies, consortia, representations of national or foreign entities must, within 90 days from 8 March 2024,..

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FB Attorneys

Trustees’ Beneficial Ownership Rules Issued

On 29 February 2024, the Minister for Constitutional and Legal Affairs issued procedures for submission of information of Beneficial Ownership vide the Trustees’ Incorporation (Transparency of Beneficial Ownership) Rules 2024, GN No. 139A of 2024. These Rules impose manda..

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Webber Wentzel

Another reminder from the Companies and Intellectual Property Commission on beneficial ownership filings

A second customer notice from the CIPC reminds companies to file the required beneficial ownership and beneficial interest information and notes that enforcement action may be taken against continuously non-compliant companies. On 6 February 2024, the Companies and Intell..

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Access to beneficial ownership information in Kenya: private companies

Kenya’s Statute Law (Miscellaneous Amendments) Act, 2019, made amendments to the Companies Act, 2015, by introducing Section 93A which requires every company registered in Kenya to keep a register of its beneficial owners and file a copy with the Registrar of Companies wi..

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Rams Attorneys

May the real shareholder please stand up

On 1 April 2023, amendments to the Companies Act 71 of 2008 (the Companies Act) came into effect. One of the key amendments is in respect of s 56, which deals with beneficial interest and ownership in shares. Previously, s 56 of the Companies Act allowed for a company’s s..

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FB Attorneys

Ministry issues Partnership Beneficial Ownership Regulations

On 22 September 2023, the Minister for Industry and Trade issued detailed procedures for submission of information of Beneficial Ownership (BO) vide the Business Names (Beneficial Ownership) Regulations, 2023, GN No. 714 of 2023 (the Regulations).

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The Beneficial Ownership Register: implementing the Financial Action Task Forces recommendations on money laundering and terrorism financing in Nigeria

Section 119 of the Companies and Allied Matters Act (“CAMA”) 2020, in conjunction with the Persons with Significant Control Regulations (“PSC Regulations”) 2022, requires companies, Limited Liability Partnerships (“LLPs”), and by extension, foreign exempted companies unde..

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Unmasking trust ownership: The introduction of beneficial ownership registers in South Africa

Between April 2019 and June 2021, South Africa underwent a mutual evaluation of its anti-money laundering and counter-financing of terrorism controls, which culminated in the publication of the Mutual Evaluation Report (“MER”) by t..

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Jackson, Etti & Edu

Persons with Significant Control Regulation 2022

On 23rd November 2022, The Ministry of Industry, Trade and Investment through its Minister, approved the Persons with Significant Control Regulation (''PSC Regulation''). The key objective of the regulation is to provide an effective framework and procedure for obtaining ..

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