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CIPC Updates Deadline for SA Business to Comply with Beneficial Ownership - IT News Africa | Business Technology, Telecoms and Startup News

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All South African companies and entities were required to submit beneficial ownership information to the CIPC (Companies and Intellectual Property Commission) before 1 October 2023. If you didn’t meet the deadline, you have a grace period until your next CIPC annual return is due, but then you’ll need to complete the process within thirty days […]

If you didn’t meet the deadline, you have a grace period until your next CIPC annual return is due, but then you’ll need to complete the process within thirty days to avoid falling foul of the new rules and risk penalties., which has developed a simple and affordable way to file beneficial ownership. Joshua Alexandre, InfoDocs founder and CEO, says, “Over 6,000 beneficial ownership declarations have already been submitted via InfoDocs by the 1 October deadline.

Says Alexandre, “The consequences of not knowing who owns and controls companies in South Africa have been dire. Linking beneficial ownership for all companies and close corporations is an important step in preventing abuse, and avoiding further state capture in South Africa.”Private companies , close corporations , non-profits , and state-owned companies all need to file beneficial ownership.

The system can simplify secretarial services for directors and shareholders for less than R395 per company per year including a beneficial compliance submission. InfoDocs works closely with the CIPC, as the software aids the CIPC in meeting its mandate. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.

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