Srilanka, Oct. 3 -- Under the latest regulations issued by the Registrar of Companies (ROC), all ROC-registered companies are required to submit a formal Ultimate Beneficial Owner (UBO) declaration in the prescribed format. This declaration must be filed online through the ROC's official portal by the current deadline of 30th September 2026. However, the submission process is unnecessarily complex and time-consuming, requiring companies to upload extensive current and historical information relating to their UBOs. In some cases, identifying and tracing the relevant UBOs is a particularly difficult and demanding exercise.
These difficulties are made worse by persistent technical issues on the ROC website. Users frequently encounter problems...