New Beneficial Ownership Filing Requirements

This regulation aims to enhance transparency and combat financial impropriety by ensuring accurate disclosure of beneficial owners. So, here's what you need to know:

If your company is registered in May 2023, you must submit a Beneficial Ownership/Interest report within 10 days. For all other companies, it should be submitted alongside the annual return.

There is a change in shareholding through allotment/transfer of shares. In that case:

A. If the new shareholding is a transfer of 10% or more of the issued shares, submit the beneficial interest/ownership report within 10 days of the change.

B. Allotments that give the new shareholder 5% or more of the issued shareholding.

C. If the change happened to a related or non-related person, someone with no existing interest in the company.

D. If the company is a subsidiary of an affected or regulated company.

Should you require any assistance or have any questions regarding the Beneficial Ownership Filing Requirements, our Secretarial Division is just a call away. We're always happy to guide you through the process!