ARTICLES & UPDATES

Date: August 6, 2026
Jurisdiction: Kuwait
Issuing Authority: Ministry of Commerce and Industry

Summary:

The Ministry of Commerce and Industry has issued Ministerial Resolution No. (156) of 2026, amending certain provisions of Ministerial Resolution No. (4) of 2023 concerning Procedures for Identifying the Beneficial Owner.

The amendment introduces stricter timelines for beneficial ownership compliance by reducing the periods granted to legal entities for establishing and submitting beneficial ownership records. The Resolution aims to enhance transparency of ownership structures, strengthen regulatory oversight, and support Kuwait’s obligations in combating money laundering and improving corporate governance standards.

Key Changes:

1. Reduction of the Deadline for Establishing the Beneficial Owner Register (Article 8 – Clause 1)

Previously, a legal entity was required to establish and maintain the Beneficial Owner Register containing details of its beneficial owners within sixty (60) days from the date of implementation of the Resolution or from the date of establishment of the legal entity.

Under the amended provision, this period has been reduced to fifteen (15) days.

The legal entity must also update the Beneficial Owner Register and record any changes within fifteen (15) days from the date it becomes aware of such changes or from the date it should reasonably have become aware of them.

2. Obligations of Nominee Board Members (Article 9 – Clause 1)

The Resolution maintains the existing requirements applicable to nominee board members.

A manager or board member acting as a nominee board member must notify the legal entity of their nominee status and provide the information required under Article (10) of the Resolution within fifteen (15) days from the date of acquiring such status.

A nominee board member who acquired such status before the publication of this Resolution must notify the legal entity within fifteen (15) days from the date of publication.

3. Reduction of the Deadline for Submission of Beneficial Ownership Records to the Registrar (Article 11 – Clause 1)

Previously, a legal entity was required to submit the details contained in the Beneficial Owner Register and the Partners’ or Shareholders’ Register to the Registrar within sixty (60) days from the date of implementation of the Resolution or from the date of licensing and registration of the legal entity.

The amended provision reduces this deadline to fifteen (15) days.

The legal entity is also required to take reasonable measures to safeguard its records against damage, loss, or destruction.

Effective Date:

Ministerial Resolution No. (156) of 2026 was issued on 30 July 2026 and became effective upon its publication in the Official Gazette, Issue No. 1802, on 2 August 2026.

If you have any questions or would like to learn more about this amendment, please contact us at info@arazzaqlaw.com.