The Office of the Registrar of Companies (ORC) has begun enforcing penalties against companies that fail to file their Beneficial Ownership (BO) information, as part of Ghana’s wider push for corporate transparency and accountability.
GH¢500 Penalty Takes Effect
Effective Monday, January 12, 2026, companies that have not submitted their Beneficial Ownership information will be fined GH¢500, according to an official notice. This enforcement follows multiple reminders and a generous grace period, which some entities failed to act on.
Background: BO Filing Requirement
On October 15, 2025, the ORC issued a public reminder directing all existing companies to submit their Beneficial Ownership details by October 30, 2025. Despite this directive, a number of companies remained non-compliant, prompting the current enforcement measures.
Under Sections 13(2)(m) and 373(1) of the Companies Act, 2019 (Act 992), companies must declare individuals who ultimately own, control, or significantly influence their operations.
Who Must Comply
The filing requirement applies to:
- Private and public companies limited by shares
- Companies limited by guarantee
- Unlimited liability companies
- External companies operating in Ghana
Legal Consequences for Non-Compliance
Beyond the GH¢500 administrative penalty, individuals who fail to provide accurate BO information—or who knowingly submit false or misleading data—are committing an offence under the Companies Act.
Under Sections 35(14) and (15) of Act 992, offenders may face:
- A fine ranging from 150 to 250 penalty units
- A prison term of 1 to 2 years, or
- Both penalty and imprisonment
Why Compliance Matters
Beneficial Ownership disclosure is not only a statutory requirement—it is a key driver of transparency, good governance, and investor confidence in Ghana’s business environment.
How Companies Can Comply
Companies are encouraged to regularize their status immediately to avoid penalties and potential legal exposure.
At JS Morlu Ghana, we support businesses by:
- Assisting with accurate and compliant BO filings
- Guiding companies through all regulatory requirements under Act 992
- Providing clarification and expert advice to ensure full compliance
- Helping organizations avoid fines, penalties, and regulatory delays
For assistance or clarification on Beneficial Ownership filing requirements, JS Morlu Ghana can be contacted directly. Our team is ready to support your company through a smooth and compliant process.