Kuwait has strengthened its Ultimate Beneficial Ownership (UBO) framework under Ministerial Resolution No. (37) of 2026, linking UBO compliance to licensing and expanding liability for disclosure breaches and incorrect information.
Kuwait’s Ministry of Commerce and Industry issued new measures strengthening its Ultimate Beneficial Ownership (UBO) framework through Ministerial Resolution No. (37) of 2026 on 16 April 2026.
The resolution amends provisions under Ministerial Resolution No. 4 of 2023, which established the UBO identification procedures effective from 1 April 2023.
Under the updated rules, no commercial license may be granted or renewed unless the requirements for identifying the ultimate beneficial owner are fully met. This introduces a compliance condition directly linked to licensing procedures for companies operating in Kuwait.
The amendments also introduce administrative fines for violations related to UBO disclosure obligations. Failure to disclose UBO information or the submission of incorrect data is subject to penalties ranging from KWD 1,000 to KWD 10,000 per violation.
The resolution further extends liability provisions. The same fines apply to any natural person registered as a UBO where such registration is knowingly false. Liability also extends to any individual involved in providing incorrect data, regardless of whether they were aware of its inaccuracy at the time of submission.
It is issued under a legal framework that includes Law 106 of 2013 on Anti-Money Laundering and Counter-Terrorism Financing, the Companies Law, and regulations linked to the Anti-Corruption Authority (Nazaha).
The decree is effective from its date of issuance and is required to be implemented by all relevant officials.
