Beneficial ownership: what BIPA needs from every CC and company, and why it matters now
Since the 2023 amendments, companies and close corporations must keep a register of beneficial owners and file it with BIPA, which has moved from awareness to enforcement. What it means and what to do.
The Companies Amendment Act 4 of 2023 requires companies to keep an accurate, up-to-date register of beneficial owners, and the Close Corporations Amendment Act 5 of 2023 does the same for close corporations.
Existing companies were required to file their beneficial ownership information by 7 August 2024, or with their next amendment or annual return.
BIPA has said the time for awareness is over and it is enforcing the law, and in 2025 it was reported to be deregistering about 1,000 non-compliant entities a month.
What a beneficial owner is
A beneficial owner is the real person who ultimately owns or controls the business, even if the shares or member's interest are held through someone else or another entity. The register exists so that authorities can see who actually stands behind a business, which helps fight money laundering and fraud. Namibia's register uses a 25% ownership threshold, according to Open Ownership.
What the law requires
- Companies: section 122A of the Companies Act, inserted in 2023, requires a register of beneficial owners kept accurate and up to date at the same Namibian office as the register of members.
- Close corporations: the 2023 amendment requires close corporations to keep and maintain a register of beneficial owners.
- Filing: the information goes to BIPA, and changes must be kept current.
Why it matters for your business
- Deregistration risk: BIPA has been deregistering non-compliant entities. A deregistered business cannot trade, tender or bank normally.
- Banks and funders ask for ownership details, and mismatches with BIPA's records cause delays.
- Tenders: procurement checks increasingly look at who is behind a bidder.
What to do now (our checklist)
- List every person who owns or controls 25% or more, directly or through another entity.
- Check that your BIPA records match: members or shareholders, directors and beneficial owners.
- File or update the beneficial ownership information with BIPA, and keep a copy of the register at your registered office.
- Update it whenever ownership changes.
Read our BIPA guide, and if annual duty is also behind, read about the BIPA penalty waiver.
Sources
- Bowmans: Beneficial ownership and external companies, does the Companies Amendment Act apply?
- NamibLII: Companies Amendment Act 4 of 2023
- Parliament of Namibia: Close Corporation Amendment Bill (2023)
- Namibian Sun: Deadline looms for BIPA company owner disclosures (May 2025)
- Windhoek Express: BIPA, 1,000 entities to be deregistered per month (September 2025)
- Open Ownership: Namibia
Sources accessed 7 November 2026. Rules change: confirm with the organisation named before you act.
Need help registering your business in Namibia?
Chrimson Consultants handles company registration, BIPA compliance, NAMRA tax registration, and tender-readiness for Namibian businesses. Contact us today.