By Nadia Ntiamoah
The Office of the Registrar of Companies (ORC) has announced the commencement of enforcement measures against companies that have failed to file their Beneficial Ownership (BO) information, imposing a penalty of five hundred Ghana cedis (GH¢500) on defaulting entities effective Monday, January 12, 2026.
The move marks a transition from public education and reminders to strict regulatory enforcement, as the Registrar seeks to strengthen corporate transparency and accountability in the business environment.
The enforcement follows an earlier public notice issued by the ORC on October 15, 2025, in which all existing companies were reminded to submit their Beneficial Ownership information by October 30, 2025.
That notice was part of a nationwide compliance drive aimed at ensuring that companies disclose individuals who ultimately own, control, or significantly influence their operations.
Despite the grace period and repeated reminders, the ORC says a number of companies have remained non-compliant, necessitating the activation of sanctions provided for under the law.
The requirement for companies to disclose their beneficial owners is anchored in the Companies Act, 2019 (Act 992), particularly Sections 13(2)(m) and 373(1), as well as the First Schedule of the Act.
These provisions mandate companies to declare the natural persons who ultimately own or exercise control over them, whether directly or indirectly.
The policy objective is to curb the misuse of corporate entities for illicit activities such as money laundering, tax evasion, and the concealment of conflicts of interest, while aligning Ghana with international best practices on corporate governance and anti-corruption.
According to the ORC, the obligation to file Beneficial Ownership information applies broadly across the corporate sector. Affected entities include private and public companies limited by shares, private and public companies limited by guarantee, unlimited liability companies, as well as external companies operating in Ghana.
The Registrar emphasized that the requirement is not limited to newly registered entities but extends to all existing companies, regardless of their size or nature of operations.
Beyond administrative penalties imposed on companies, the law also prescribes serious personal sanctions for individuals who fail to provide Beneficial Ownership information or who knowingly submit false or misleading details.
Under Sections 35(14) and 35(15) of the Companies Act, 2019 (Act 992), such individuals are liable on summary conviction to fines ranging from not less than 150 penalty units to not more than 250 penalty units, or to a term of imprisonment of not less than one year and not more than two years, or to both a fine and imprisonment.
The ORC has urged all affected companies to take immediate steps to regularize their status to avoid further penalties and possible legal consequences.
The Registrar noted that compliance is not merely a statutory obligation but a critical step toward promoting transparency, accountability, and trust in the corporate and investment landscape.
By ensuring that true ownership structures are disclosed, the ORC believes confidence in the formal business sector will be enhanced, benefiting regulators, investors, and the wider public.
