Articles on: Company

How to create a register of beneficial owners

The CIPC has announced the promulgation of the amendments to the Companies Act 71 of 2008, as amended. The amendments of the Companies Act give the CIPC a mandate to request companies to file and update Beneficial Ownership information, as and when applicable.

Estimated Reading Time: 2 minutes

Companies are required to file their Beneficial Ownership information to the CIPC by 1 October 2023.

The following documents are required documents when filing your beneficial ownership information:

Mandate to lodge - Register of Beneficial Ownership
Register of Beneficial Ownership
Register of Shareholders
Certified ID's (Quick Tip: Intergreatme allows you to verify your ID online)

How to create a Register of Beneficial Owners

Step 1: Navigate to the Shareholders Tab and select Create New Shareholder.

Step 2: A window will prompt you to create a share class based on the authorised share capital that is reflected in your company registration document (Cor15.1A).

Step 3: Select Create New Share Class and enter all of the details pertaining to the share class that you would like to “issue” or “allot” to your shareholders.

Step 4: Fill in the shareholder's details as prompted. If this shareholder has been added to InfoDocs before, simply type their name in the name field and their details will automatically populate.

Step 5: The final window will request the details of when the shares were issued. Should you wish to have these issued on the day that your company was registered, select Incorporation Date, and InfoDocs will pull through your business start date automatically.

All certificate numbers will be allocated in sequence to ensure there are no duplicates or missed documents. If you already have an investor or someone that has bought shares, you can enter the total amount paid or price per share, but since most starting companies’ shares will have zero value, you can just leave this part blank.

Step 6: Now that you have added your first shareholder, InfoDocs will automatically create the required resolution, as resolved by either the shareholders or directors depending on your Memorandum of Incorporation (“MOI”).

Select download and get this document circulated and signed by the respective individuals to comply with the Companies Act 71 of 2008 (as amended) (“the Companies Act”).

Step 7: From any tab on your company, select View Company Registers.

Step 8: Proceed to select the Register of Beneficial Owners to create the register.

Updated on: 14/07/2023

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