Kuwait Tightens Beneficial Ownership Disclosure Deadlines

The Ministry of Commerce and Industry in Kuwait has issued Ministerial Decision No. 156 of 2026, significantly shortening the compliance deadlines for beneficial ownership disclosure. Companies are now required to establish and file their Ultimate Beneficial Owner (UBO) registers within 15 days, a reduction from the previous 60-day window.

Key Provisions

• UBO Register Establishment: Legal entities must establish and populate their UBO registers within 15 days of the decision's implementation or the entity's formation.
• Nominee Board Member Notification: Directors acting in a nominee capacity must notify the legal entity within 15 days of acquiring the role.
• Filing with Registrar: Entities are required to submit UBO register data to the registrar within 15 days of the decision's implementation or from the date of licensing and registration.

These amendments aim to enhance transparency and align Kuwait's regulatory framework with international standards, particularly those set by the Financial Action Task Force (FATF).