Is there a requirement to declare beneficial ownership in Namibia?
Yes. All companies must collect, maintain and submit accurate and up-to-date ultimate beneficial ownership information to BIPA. Failure to submit beneficial ownership information as required can result in serious consequences for a company in Namibia. If the company neglects to provide these details, BIPA may interpret this as non-compliance with statutory obligations, which, alongside other failures such as not filing annual returns, could prompt BIPA to deregister the company.