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Mozambique: UBO reporting obligations
Since the 22nd of September 2022, all financial institutions and other legal entities in Mozambique are now required to keep internal information (identification documents) of ultimate beneficial owners (UBO) and register this information with the Registry of Legal Entities.
The new commercial code – approved by Decree-Law No. 1/2022 of May 2 – does not provide an exact list of registerable data of UBO, limiting the required information to Identification elements of the beneficial owners.
Although no particular deadline to comply with the obligations was established, companies are requested to comply as soon as possible.