Earlier this year, the Ministry of Commerce and Industry (“MOCI”) in Kuwait issued Ministerial Resolution No.4 of 2023 (“the Resolution”) setting out an obligation for the identification of ultimate beneficial owners (“UBO”). The Resolution applies to all entities registered in the State of Kuwait, unless specifically exempted. Immediately after the Resolution was issued, questions started being raised, in particular by foreign investors, in respect of the process for such a disclosure, filing requirements etc. . While MOCI went silent for a period of six months (except for one minor amendment to the Resolution), it wasn’t until last week that a follow up decision named “Procedure No 1” (“Decision”) was made directing entities subject to the Resolution to register their UBOs with MOCI’ electronic portal.
The Decision reads as follow “In accordance with Ministerial Resolution No. 4/2023 concerning the determination of the ultimate beneficial ownership of any business, and pursuant to Article 4 of the said resolution, business owners are asked to register statements pertaining to the ultimate beneficial owner through the electronic portal of the commercial registry within one month from the issuance date of this decision.”
Therefore, unless exempted by the Resolution, every Kuwaiti company and/or business must disclose its UBOs register to the MOCI through the MOCI’s electronic portal.
How Can Meysan Help?
Background Boursa Kuwait (“Boursa”) has announced the implementation of a comprehensive regulatory and legislative framework governing bonds and sukuk, following approval by the Kuwait Capital market Authority (“CMA”) under Resolution No. 38 of 2026 dated 1 April 2026 (“CMA Resolution”), in conjunction with amendments to Boursa rulebook introduced by Boursa… Read more
Board Resolution No. 32 of 2026 - Published in the Official Gazette on 5 April 2026 - In Force Immediately Authors: Abdulwahab Sadeq (Partner), Lama Abou Ali (Counsel), Adel Alasousi (Senior Associate) and Sara Awaly (Associate) KEY TAKEAWAYS On 5 April 2026, the Kuwait Competition Protection Agency (the "CPA") published… Read more
Over the past few weeks, Dubai has introduced a series of laws that, when viewed together, signal something much broader than routine regulatory updates. This is not incremental reform. It reflects a structural shift in how regulation is conceived and enforced. The issuance of Dubai Law No. (3) of 2026,… Read more
In times of regional uncertainty, businesses often reassess their operational and financial exposure. For boards of directors, however, the legal position remains clear: geopolitical developments do not alter the duties owed by directors under UAE and Kuwait law. Under UAE Federal Decree Law No. 32 of 2021 on Commercial Companies… Read more
Subject: Risk and Claims Management in Light of Current Geopolitical Circumstances and Disruptions to Some Business Activities In light of the geopolitical developments and the ongoing war in the region, and the resulting economic and operational impacts, including the disruption of some business activities or the temporary closure of facilities,… Read more
Law No. (10) of 2026 Regulating the Digital Commerce Sector Law No. (10) of 2026 regarding the regulation of the digital commerce sector in Kuwait establishes a legal framework governing commercial activities conducted through digital and electronic platforms within the State of Kuwait. The law aims at regulating the expanding… Read more