Submission beneficial owners details

I need to register a charge for my company with the Business Registrations and Licensing Agency (BRELA). I have already filed the company’s annual returns, but upon lodging the documents, my lender has informed me that I am not in compliance because the Beneficial Ownership (BO) information has not been submitted. The Registrar at BRELA has indicated that registration cannot proceed until this issue is resolved. I urgently need funds for my business. Kindly guide.

AM, Meatu

The primary issue preventing the registration of your company charge is the non-submission of Beneficial Ownership (BO) information, which is a statutory requirement under Tanzanian law. Even if annual returns have been filed, BRELA requires that the BO details of the company’s ultimate owners also be submitted to ensure compliance. You should promptly file the BO information along with any other outstanding statutory requirements to avoid further delays. Failure to do so may result in your lender being unable to disburse the loan, which could jeopardize the operations and sustainability of your business.