0800 007 269 (Toll Free)
0800 007 269 (Toll Free)

Company Registration at CIPC, SARS, COID, CUSTOMS, CIDB & More
Get Compliant from Anywhere, Easy and Fast!

Table of Contents

  • Company Compliance

CSD Enforces Deadline for Compliance with Beneficial Ownership Rules

Learn more about CSD and Beneficial Ownership Compliance

From January 2025, all suppliers listed in the Central Supplier Database (CSD) must follow the Beneficial Ownership (BO) rules. This follows the news on 1 November 2024, requiring all companies and CCs (Closed Corporations) to update their BO Register with CIPC. The information captured by the CIPC is shared with the CSD.

CSD has reported that many of the 160,000+ registered suppliers have either failed to submit or provided inaccurate beneficial ownership information to CIPC, since this warning went out.

CSD has started sending emails to companies that are not following the rules with this message:

Attention, comply with the CSD beneficial ownership regulations before 31 March 2025

“We urge you to immediately correct your ownership information at CIPC and ensure alignment between CSD and CIPC by 31 March 2025. If your CSD ownership information and CIPC beneficial ownership information are not aligned and do not amount to 100% by this deadline, your CSD profile will be inactivated.”

The Beneficial Ownership update deadline is 31 March 2025, and no business listed with the Central Supplier Database (CSD) can afford to miss it. Your CSD page will be deactivated and stop you from:

  • Updating your business details
  • Taking part in bidding opportunities.
  • Being considered when government agencies are looking for suppliers.

 

Keep in mind that the requirement for beneficial ownership declaration does not currently apply to cooperatives or suppliers that are not registered with CIPC.

Why CSD requires businesses to be Beneficial Ownership compliant?

South Africa is working to align its policies with international standards to fight crime, terrorist financing and money laundering. The government requires more transparency about who owns companies that work with public entities by enforcing reports on Beneficial Ownership in CSD.

These steps will allow South Africa to be removed from the “grey list” meaning we can attract more foreign investors.

Having correct title information helps make public buying processes trustworthy and responsible. Following the new regulations help sellers stay eligible for contracts and makes it easier to keep their information current.

Expert tip on what is beneficial ownership

If you want to discover the ins and outs of Beneficial Ownership and how to stay compliant, this article on Beneficial Ownership is a must-read.

How to Update CSD Beneficial Ownership Information

Updating your CSD title information is an easy process, but you need to be careful and precise. It’s very important that all disclosures about Beneficial Ownership made at CIPC and on the CSD match each other.

  1. Log into your CSD profile online. To view your profile, go to the Central Supplier Database’s main page. Start by creating a CSD account if you don’t have one yet.
  2. Look for the part that talks about Beneficial Ownership.
  3. Look for the CSD Requirements part and focus on the changes related to Beneficial Ownership.
  4. Identify the beneficial owners.


Remember to complete all necessary fields for each beneficial owner, including:

What is CSD, Company Partners explains
  • Full names and identification numbers of people.
  • The share of power or ownership in percentage form.
  • Contact information for each person.
  •  

5. Now it’s time to send your documents and any additional information. Gather the neces-sary paperwork, including shareholder agreements, copies of identification, and company structures. Include these in your update by uploading them.

6. Review and after that, Submit. (Before submitting the change, be sure all of the infor-mation you provided is accurate in time to meet the deadline).

7. Take note to go through the process in time to meet the stated deadline.

If you’re applying for the first time or need help updating your CSD, our team is here to ensure your business meets all the requirements to get government contracts and bids. To streamline your compliance process, cut down on mistakes, and stay ahead of the curve, team up with us as your business partner and get in touch today.

How We Can Help

We can help you make the CSD Beneficial Ownership Update process easier and faster, as it can be quite difficult. As compliance experts we can help you quickly and correctly update your Beneficial Ownership statement at CIPC and your CSD ownership information. We will handle everything for you, including collecting the necessary documents and making sure all CSD standards are fulfilled. SARS registration is the third item on your list. For long-term peace of mind, check that your security company follows all tax requirements set down by SARS (South African Revenue Service).
Get a FREE Consultation

Get Compliance Alerts

Get monthly compliance updates, deadline reminders and practical SME tips.

Unsubscribe anytime.

Recommended for you

Sign Up to our Newsletter

Cresta Help Chat
Send via WhatsApp