The Business and Intellectual Property Authority (BIPA) will begin large-scale deregistration of inactive businesses tomorrow. 

The Acting Chief Executive of BIPA, Aina Kaundu, said they will deregister 1,000 business entities currently on the inactive list. Speaking at a Windhoek announcement today, she said this will be an ongoing monthly process.

The deregistration targets companies that have not filed their beneficial ownership as required by the Close Corporations Act. Businesses failing to file beneficial ownership have been on inactive status for six months. 

Currently, 137,000 entities are on the inactive list, including 120,000 from the |Khomas Region and 36,000 from Erongo.

Kaundu warned that deregistered entities will lose legal status, have contracts voided, be barred from public procurement, face banking restrictions, lose assets, and suffer reputational damage. However, BIPA allows restoration for companies wishing to reactivate.

A list of deregistered businesses will be published on all BIPA platforms and shared with banks and agencies dealing with business entities.