UNDERSTANDING BENEFICIAL OWNERSHIP: REGISTRATION PROCEDURES IN SOUTH AFRICA

In recent years, the spotlight on clarity has intensified within the realm of business structures. This heightened focus stems from a growing need to uncover beneficial ownership - the individuals who ultimately exercise an entity's activities. South Africa, in line with this global trend, has implemented legislation requiring the registration of b

The Framework governing beneficial ownership regarding South Africa are designed to strengthen transparency and mitigate financial crime. A beneficial owner is an individual or structure that ultimately benefits from control over a legal entity. Identifying these individuals is crucial for regulatory purposes and helps uncover the true owners behin