AZOLA FUTSHANE: Companies ignore CIPC on beneficial ownership disclosures at their own peril
The purpose of the new requirements is to prevent firms from hiding who their real owners are
05 September 2024 - 05:00
SA companies were recently statutorily mandated to declare their beneficial ownership information to the Companies and Intellectual Property Commission (CIPC).
This requirement to declare all the owners of registered companies is intended to enhance transparency and fraud-prevention about shareholding and align the country with international standards for anti-money-laundering — all important issues that are all the more pressing considering the country’s greylisting...
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