New regulations on compulsory submission of beneficial ownership on all trusts
As part of South Africa’s efforts to combat the country’s grey-listing status, The General Laws (Anti Money Laundering and Combating Terrorism Funding) Amendment Act that was passed in December 2022, has been fast tracked and became effective as from 1 April 2023. These amendments introduced a new definition of a ‘beneficial owner’ into the Trust […]
The benefits of moving away from the one-size-fits-all approach
Every business in the world sells something. They sell goods or services in order to address a need or desire of a consumer, and to achieve a profit in the process (at the very least only to ensure its sustainability). Before the introduction of many modern technologies (the internet specifically), focussing solely on quality goods or services in order to make profit was the common thing to do. Business owners could often […]