• 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

Registrar-General gives deadline for declaration of beneficial ownership by companies

5 years ago
in Business, highlights, Home, home-news, latest News
2 min read
0 0
0
Mrs Jemima Oware, Registrar-General - norvanreports

Mrs Jemima Oware, Registrar-General - norvanreports

76
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

The Registrar-General’s Department (RGD) has issued a deadline for the declaration of beneficial ownership of companies in the country.

According to the Department, existing companies are to submit all data on their legal and beneficial owners before July 1, 2021.

It is conventional to find businesses in Ghana registered in the name of directors who are not the actual legal beneficiaries of the business, although the law requires that the actual owners be declared.

Indeed, when companies are registered, there are no administrative requirements to fill in the details of the actual owners of the business apart from the directors and secretaries.

But the Registrar-General, Jemima Oware said her outfit has now provided forms online for companies to download and fill in the data of the legal owners and beneficiaries, and every company is expected to do so between now and July 1, 2021.

She said currently, all new businesses registering with the Registrar-General are required to download the legal owners and beneficiaries forms, fill and attach to the registration document before they will be accepted.

“From January, every business that comes to register is supposed to download the forms, fill it and attach it to the registration documents. So we have started collecting them,” she noted during a media sensitization workshop in Accra.

RelatedPosts

BoG Reports 15.19% Decline in Dud Cheques Issued in 2024

Credit Bureau Searches Surge 114.6% in 2024 on Back of Digital Loan Growth 

Naira Stable as External Reserves Hit Eight-Month High of $40.15bn

She added that “For the legacy data, i.e., businesses that already existed before we deployed the beneficial ownership register from October 1, 2020, we are giving them up to June 30 to update us with their beneficial ownership information because, after June 30, sanctions will kick-in.”

The Registrar-General first announced the plan to create a Beneficial Ownership (BO) register in 2018.The deployment of the BO register begun in September 2020 with the extractive industry and other high-risk sectors like banks and other financial institutions.

With the register fully deployed now, the Registrar-General is asking all companies to submit details of the actual owners of the companies by the end of June this year to prevent sanctions.

The Companies Act 2019 (Act 992) provides for the collection of data on beneficial owners of all companies. The Beneficial Ownership regime requires the declaration of the true owners of every company operating in Ghana.

The information, which would be held in a Central Register by the Registrar of Companies, would be available to the business community, the general public and to competent authorities to promote business transparency.

Details of the beneficial owner of a company will also help minimize domestic and cross-border bribery and corruption, fraud and illegal financial transactions.

The Beneficial Owner of an entity is therefore a person who will enjoy the economic rights stemming from the entity, regardless of whether the entity’s ownership is registered in his or her name.

Tags: Beneficial Ownership (BO) registerCompanies Act 2019 (Act 992)deadline for declaration of beneficial ownership by companiesJemima Oware
No Result
View All Result

Highlights

Helicopter Crash: One Ghana Movement Calls for State-Funded Life Insurance Policy for Dependents of Government Appointees

Government on Course to Exceed 2025 Macroeconomic Targets 

Finance Ministry Invites Public Input for 2026 – 2029 Budget

CHAN 2024: Uganda Dominates Guinea; South Africa Holds Algeria

Ipswich Salvages Late Point in Championship Opener Against Birmingham

GFA and BetPawa Enhance partnership; Locker Room Bonus Extended to Malta Guinness Women’s Premier League for 2025/26 Season

Trending

Banking & Finance

BoG Reports 15.19% Decline in Dud Cheques Issued in 2024

August 9, 2025

BoG Reports 15.19% Decline in Dud Cheques Issued in 2024 The Bank of Ghana’s (BoG) Credit Reporting...

Credit Bureau Searches Surge 114.6% in 2024 on Back of Digital Loan Growth 

August 9, 2025

Naira Stable as External Reserves Hit Eight-Month High of $40.15bn

August 9, 2025

Helicopter Crash: One Ghana Movement Calls for State-Funded Life Insurance Policy for Dependents of Government Appointees

August 9, 2025

Government on Course to Exceed 2025 Macroeconomic Targets 

August 9, 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.