Mozambique: Beneficial Ownership Registration
The Council of Ministers approved, by means of Decree-Law No. 1/2024, the new Legal Entities Registry Regulations regarding the registration of beneficial ownership. The approval of this statute arises from the legislation applicable to the Prevention and Fight Against Money Laundering and Financing of Terrorism which was revised in 2023.
Key changes and requirements
The Government of Mozambique recently announced that all legal entities incorporated or registered prior to the enactment of the Commercial Code – Decree-Law No. 1/2022, of 25 May 2022 – and the Regulations of Legal Entities Registry Office – Decree-Law No. 1/2024, of 8 March 2024 are now required to complete the registration of the beneficial ownership.
Accordingly, all companies, associations, foundations, religious entities, and branches are required to proceed with the registration of their beneficial owners. The Statement for registration of beneficial owners must be submitted through the Registries & Notary website – www.utente.srn.gov.mz - or by completing a specific form available at the Legal Entities Registry Office.
Under the law, beneficial owners are defined as the individuals and/or shareholders with voting rights of the relevant legal entity who directly or indirectly have a percentage equal to or above 10% of the Mozambican entity.
The beneficial ownership statement must include, at least, the following information:
(i) full name, (ii) date of birth, (iii) valid identification document, (iv) regular, professional, and fiscal address, (v) nationality, (vi) tax identification number, (vii) mobile phone number, (viii) shareholding percentage, (ix) type of control exercised, (x) detailed description of how control is exercised, (xi) date on which the beneficial owner became effective, and (xii) documents evidencing the status of beneficial owner.
How can we help?
Computershare Governance Services global team of professionals are available to guide you through the process of determining the beneficial owner and the ongoing advisory oversight to monitor a change in the organization structure that may result in a triggering event that will require an update to the Registrar for a change of the beneficial owner.
Computershare’s leading entity management system GEMS can also help you to manage and store your beneficial ownership information, as well as the information about shareholdings, ownership, and directorships on a global basis.
Contact:
Please contact your dedicated Computershare Relationship Manager or send an email to globalentityservices@computershare.com for more information about how Computershare may assist you in responding to these new requirements.
This notice is provided by Computershare for general informational purposes only and is not intended and should not be construed as legal, regulatory, financial or tax advice. Computershare is not licensed or authorized to practice law in any jurisdictions and hence does not provide any legal advice and it does not hold itself out as doing so. Neither Computershare nor any of its affiliates or contributors accept any responsibility or liability for the quality, accuracy or completeness of any information contained in this notice. It is important that you seek independent professional advice relating to the subject matter of this notice before relying on it.