Beneficial Owner

The New Commercial Code, approved by Decree-Law No. 1/2022 of May 25, introduced the concept of the Beneficial Owner in its text. Although new to Mozambican commercial legislation, the concept was already present in the Anti-Money Laundering Law regarding Beneficial Ownership, approved by Law No. 14/2013 of August 12, which was subsequently repealed by Law No. 11/2022 of July 7 (hereinafter referred to as the 'New Law on the Prevention and Combating of Money Laundering and Terrorist Financing').