30
Aug
A Beneficial Owner is defined as any natural person(s) who ultimately owns or controls a legal entity, either through direct or indirect ownership of a sufficient percentage of the shares or voting rights or ownership interest in the entity, including through bearer shareholdings, or through control via other means.
These include:
- Ownership (directly or indirectly) of more than 25% of the company/society’s shares;
- Controlling (directly or indirectly) of more than 25% of the company/society’s voting rights;
- Control through other means may, inter alia, include the criteria of control used for the purpose of preparing consolidate financial statements, such as:
- Through a shareholders’s agreement,
- The exercise of dominant influence or,
- The power to appoint senior management.
What details are needed to be filed with the Central Register?
The following information is required to be filed for each Beneficial Owner:
- Company/ Society Name
- Company/Society Number
- Surname
- Forename
- Date of Birth
- PPS Number
- Nationality
- Address
- Country of Residence
- Statement of the nature & extent of interest held
- Statement of the nature & extent of control exercised
- Date of entry as beneficial owner
- Date of cessation as beneficial owner
To find out more about the Register of Beneficial Ownership requirements what it means for your company, don’t hesitate to contact the team on [email protected] or call the office on 094 – 9027426.