Minister of Commerce and Industry Osama Khaled Boodai issued Ministerial Resolution No. 156/2026 on July 30, 2026, amending Ministerial Resolution No. 4/2023 on procedures for identifying beneficial owners of companies, the Arab Times reported. The new resolution replaces provisions in Articles 8, 9 and 11 of the earlier text and requires legal entities to establish a special register with beneficial ownership information within 15 days of the effective date or from the entity’s establishment. Companies must update the register and record any changes within 15 days of becoming aware of them or from the date they should have known about the alterations.
The resolution further obliges any director or board member acting as a nominee to notify the legal entity of that status and provide required details within 15 days of acquiring the capacity, according to the ministry directive reported by the Arab Times. Individuals who assumed nominee roles before the resolution’s publication receive a 15-day window from its release to submit the notification. Legal entities must also deliver the beneficial owner register along with partner and shareholder records to the relevant registry within 15 days from the resolution’s effective date or from licensing and registration.
Entities are required to take necessary measures to maintain and protect these records from damage, loss or destruction, the resolution stated. The Ministry of Commerce and Industry confirmed that the decision takes effect from its issuance date of July 30, 2026, and will be published in the official gazette. Relevant authorities have been tasked with implementing the provisions.
This amendment continues requirements introduced under the 2023 resolution, when covered entities had to prepare, maintain and file registers of beneficial owners, shareholders and nominee directors by May 30, 2023, a BDO global assessment found. Ministerial Resolution No. 37 of 2026, issued in April, linked accurate beneficial ownership disclosure to commercial license issuance and renewal while setting administrative fines between KD 1,000 and KD 10,000 for non-compliance or inaccuracies, according to a Deloitte Middle East update. The framework supports international standards for corporate transparency across the Gulf region.
The Commerce Ministry canceled the licenses of 516 companies over financial reporting lapses, the Arab Times reported in connection with ongoing enforcement actions. Public Authority for Civil Information data places Kuwait’s total population near 4.9 million, with expatriates forming the majority of the workforce that supports a corporate sector comprising thousands of registered entities. An International Monetary Fund chapter on beneficial ownership implementation stressed that countries must establish clear time frames for updating such information to align with Financial Action Task Force recommendations.
Legal entities operating in Kuwait now face shortened compliance windows compared with initial grace periods granted in 2023, the successive resolutions show. The ministry’s approach reflects a pattern of tightening oversight on corporate records to address regulatory gaps identified in prior years. Companies seeking license renewals or structural changes must ensure their submissions meet the 15-day thresholds outlined in the latest text.
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