• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Individuals with 5% ownership stake in high-risk businesses to be declared Beneficial Owners – RGD

4 years ago
in Business, highlights, Home, home-news, latest News
1 min read
0 0
0
142
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Individuals with 5 percent or more ownership stake in high-risk businesses in the extractive, financial, insurance and real estate industries, according to the Registrar-General’s Department (RGD) will be declared as Beneficial Owners.

Foreign politically exposed persons with 5 percent ownership stake in any type of business will also be classified as Beneficial Owners by the RGD.

Also, individuals who own 20 percent or more of the shares of a company will be labeled a Beneficial Owner of the company.

The aforementioned classification of Beneficial Owners by the RGD follows the introduction of the Beneficial Ownership Transparency Regime as part of the RGD’s company registration processes under the new Companies Act, 2019 (Act 992).

Announcing the introduction of the new requirement via a press statement dated Monday, March 29, the Department instructed that all companies compile, verify and validate their Beneficial Owners before submission of company registration documents to the Department by June 30, 2021.

For new and already existing companies, details of their respective Beneficial Owners are to be provided during:

  • Incorporation of a Company
  • Annual Returns filing
  • Amendment of Company Information
  • Upon Request by the Registrar

The Department however, cautioned that companies that do not declare their Beneficial Owners or provide false or misleading information to the Department will be sanctioned.

RelatedPosts

Why Women Must Be Involved In Building Flood Resilience

African Development Bank Group and Michael Bloomberg to Drive Private Investment into Africa

Bitcoin Drops to $109K as Crypto Market Loses $200 Billion

According to the RGD, one of the purposes for which the Beneficial Ownership Regime is being added to the company registration processes is to ensure that companies know who they are transacting business with.

A Beneficial Owner (or Owners) is the individual or natural person who owns, controls and has interest in, or exercises influence over the legal person (or arrangement) or receives substantial benefit from the activities of the company.

Source: norvanreports
Tags: Beneficial Ownersextractivefinancialhigh-risk businessesinsurance and real estateRegistrar-General’s Department (RGD)
No Result
View All Result

Highlights

AI in Africa: 5 Issues That Must be Tackled for Digital Equality

ECG Posts Record Monthly Revenue of GHS 1.74bn for July

IMF Urges Lebanon to Deepen Reforms Amid Fragile Rebound and Banking Sector Challenges

GCB Bank Outlines Post-IATF Path to Powering Africa’s Trade Future

AGI Raises Alarm Over Weak Consumer Demand Despite Signs of Economic Recovery

Lead, Mercury Found in Turmeric, Tom Brown and Others – FDA Report

Trending

Features

Why Women Must Be Involved In Building Flood Resilience

September 26, 2025

Why Women Must be Involved in Building Flood Resilience Women carrying children through chest-deep waters, families watching...

African Development Bank Group and Michael Bloomberg to Drive Private Investment into Africa

September 26, 2025

Bitcoin Drops to $109K as Crypto Market Loses $200 Billion

September 26, 2025

AI in Africa: 5 Issues That Must be Tackled for Digital Equality

September 26, 2025

ECG Posts Record Monthly Revenue of GHS 1.74bn for July

September 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.