How do I declare a change in Beneficial Owner or Shareholder?

A Notice of Changes in the Shareholding and Beneficial Ownership (Companies Form 20) is filed to the Registrar by a company under section 21 of the Companies Act No. 10 of 2017. The Company’s form 20 is filed to the Registrar within 14 days whenever there are changes in the shareholding, beneficial ownership, or particulars of shareholders or beneficial owners. Changes in shareholding and beneficial ownership over shares shall be registered in accordance with Section 21 of the Companies Act. The Form is used to notify the Registrar of any change(s) made in the registered particulars of shareholders and beneficial owners. This procedure applies to companies registered in Zambia with the exception of companies limited by guarantee and foreign companies.

In addition, a Declaration of Beneficial Ownership if the changes being made relates to beneficial owners

What forms will be required?

Company form 20 – Notice of Change of In Particulars In Shareholding Or Beneficial Ownership

How much will this cost me?

Notice of change of beneficial ownership or shareholders will cost K200.00

 How do I declare a beneficial owner?

A Notice of Declaration of Beneficial Ownership (Companies Form 21) is filed to the Registrar by a company under section 123 of the Companies Act No. 10 of 2017 within thirty days from the date of receipt of the declaration from a beneficial owner or a person acting or holding a share on behalf of a beneficial owner. The purpose of this notice is to register beneficial ownership of shares and changes made to the beneficial ownership. This procedure applies to companies registered in Zambia with the exception of companies limited by guarantee and foreign companies.

What forms will be required?

This process requires Companies Form 21

How much will this cost me?

This process will cost the applicant K200.00

Does this process require any additional documents?

A Declaration of Beneficial Ownership

RETURN OF DECLARATION OF BENEFICIAL OWNERSHIP

A Return of Declaration of Beneficial Ownership (Companies Form 22) is filed to the Registrar by a company under section 123 of the Companies Act No. 10 of 2017 within thirty days from the date of receipt of the declaration from a beneficial owner or a person acting or holding a share on behalf of a beneficial owner. The purpose of this notice is to register beneficial ownership of shares and changes made to the beneficial ownership. This procedure applies to companies registered in Zambia with the exception of companies limited by guarantee and foreign companies.

What forms will be required?

Companies Form 22 – Return Of Declaration Of Beneficial Ownership

How much will this cost me?

This process will cost the applicant K200.00

Does this process require any additional documents?

A Declaration of Beneficial Ownership