A Simple Guide to Beneficial Ownership (BO) Filing in Ghana – Why It Matters for Your Business

At Scribe Advisory, we understand that compliance in Ghana can be complex. One area many business owners overlook but can’t afford to ignore is the Beneficial Ownership (BO) filing. Here’s what you need to know and why it matters.

What Is BO Filing?

Beneficial ownership identifies the real individuals who ultimately own, control, or benefit from your company — even if they aren’t listed as shareholders or directors. BO filing means officially submitting these details to the Office of the Registrar of Companies (ORC). This process ensures greater transparency and accountability in how businesses are structured. At its core, beneficial ownership is simple: it identifies the real people who ultimately own or control a company, even if their names do not appear on the official paperwork. In an era where financial secrecy has fueled corruption, money laundering, and tax evasion, Ghana’s Companies Act 2019 (Act 992) aligns with global transparency efforts led by the OECD, FATF, and World Bank. But despite its significance, awareness among Ghanaian businesses remains low. Many businesses are still unclear on who must file, how to do it, and the consequences of missing deadlines.

Who Needs to File?

BO filing is not optional. Companies that prepare early, maintain accurate ownership registers, monitor deadlines, and embed governance best practices will gain an edge in trust and legitimacy.

It applies to:

• Private Limited Liability Companies

• Companies Limited by Guarantee (NGOs, associations, foundations)

• Public Companies

• Certain Partnerships

If your business has directors, shareholders, or trustees, you must disclose the ultimate beneficial owners.

Why Should You File?

The ORC has set firm deadlines for 2025. Missing them can lead to:

• Heavy fines and regulatory sanctions

• Challenges with licenses and permits

• Banking difficulties, as banks now require BO details for KYC

• Personal liability for directors and officers

The Office of the Registrar of Companies (ORC) has announced strict enforcement timelines for 2025. Outside of that, non-compliant firms risk regulatory penalties, banking restrictions, and in some cases, personal liability for directors. Banks have already begun demanding BO information as part of their due diligence. Investors, donors, and multinational partners increasingly view companies that file their BO on time as credible. Companies that prepare early, maintain accurate ownership registers, monitor deadlines,s and embed governance best practices will not just stay compliant, they will gain an edge in trust and legitimacy.

The reality: the cost of non-compliance is far greater than the effort of filing correctly.

How We Can Help

Scribe Advisory simplifies BO compliance for you. We:

• Prepare and submit your filings

• Keep your beneficial ownership register up to date

• Monitor deadlines so you stay compliant year-round

• Advise boards and executives on governance best practices

By outsourcing compliance, your leadership team can focus on growth while we handle the details.

The bottom line: BO filing is more than a legal requirement — it’s an investment in your company’s credibility, governance, and ability to do business in Ghana and beyond.