19/04/2026
Share:
19/04/2026
Share:
KUWAIT CITY, April 19:The Ministry of Commerce and Industry has issued a new ministerial resolution strengthening compliance requirements for businesses to disclose their beneficial owners, introducing stricter penalties for violations and tying licensing directly to adherence.
Under Ministerial Resolution No. (37) of 2026, which amends provisions of Resolution No. (4) of 2023, companies will no longer be granted or able to renew licenses unless they fully comply with beneficial ownership disclosure requirements.
The updated regulation imposes administrative fines ranging from KD 1,000 to KD 10,000 per violation for failure to disclose the beneficial owner or for submitting inaccurate information. The same penalties apply to individuals who falsely register themselves as beneficial owners or knowingly participate in providing incorrect data.
The move is part of Kuwait’s broader push to enhance corporate transparency and align regulatory frameworks with international standards on anti-money laundering and financial integrity.
The resolution came into force immediately upon issuance on April 16, 2026.