The CIPC published Practice Note 1 of 2025 in January 2025, stating that companies that have outstanding annual returns—and that have not submitted their Ultimate Beneficial Ownership (UBO) Information—will be permanently deregistered without further notice.
Ultimate Beneficial Ownership (UBO) filings are required within 10 business days after a company’s incorporation or when any changes occur (e.g., share transfers, shareholder changes, etc.). Additionally, UBO filings must be submitted annually along with the company’s CIPC annual return.
The CIPC has consistently emphasized the importance of compliance with UBO filing requirements since they were introduced in 2023. Since last year, companies have been unable to submit their annual returns without first providing the Ultimate Beneficial Shareholder information.
New amendments to the Companies Act were proposed in December 2024. If promulgated, these amendments will grant the CIPC the authority to deregister companies that fail to comply with UBO filing requirements.
These submissions must include detailed information and supporting documents for each ultimate beneficial shareholder of the company, such as:
- ID or passport copies
- Securities registers
- Mandates
- Other relevant particulars
More information on Ultimate Beneficial Ownership is available on our website (click here). Our consultants remain available to assist clients in navigating the ever-increasing regulatory requirements.
By Herman Moolman
Statucor (Pty) Ltd © 2025
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