beneficial ownership
Bewind trusts are created as trading vehicles and provide trustees with limited liability as well as certain tax benefits for beneficiaries. In a bewind trust, the trust founder sets up the trust in such a way that the assets and
Once the assets are transferred into the trust, they no longer belong to the trust founder and the trustees are required to take over full control of the assets and ensure that they are managed to achieve the best outcomes
Working closely with other key stakeholders such as SARB and National Treasury, CIPC plans to have the register ready soon and believes that it will greatly assist in the prevention of abuse of corporate vehicles. Further, these steps will help
