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ARTICLE · 21 MARCH 2025

KSA Introduces New Ultimate Beneficial Ownership Rules

Greenberg Traurig
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The Kingdom of Saudi Arabia's new UBO Rules, effective 3 April 2025, require most companies to disclose their UBOs to the Ministry of Commerce. Companies must register UBOs during incorporation...

Saudi ArabiaCorporate/Commercial Law
Chadi Salloum
Chadi Salloum
Marwa Al-Siyabi
Marwa Al-Siyabi
Krishen Patel
Krishen Patel
Abdulaziz Alharthy
Abdulaziz Alharthy
Abdulla Al Hashili
Abdulla Al Hashili

Go-To Guide:

  • The Kingdom of Saudi Arabia's new UBO Rules, effective 3 April 2025, require most companies to disclose their UBOs to the Ministry of Commerce.
  • Companies must register UBOs during incorporation, maintain updated UBO records, and notify authorities of changes within 15 days, with penalties up to SAR 500,000 for non-compliance.
  • The rules exclude publicly listed companies, state-owned entities, and those under liquidation.

The Kingdom of Saudi Arabia minister of commerce recently issued the Rules for the Ultimate Beneficial Owner (UBO Rules), which aim to enhance corporate transparency and align with international standards by requiring companies to disclose their ultimate beneficial owners (UBOs) to the Ministry of Commerce (the Ministry). The UBO Rules apply to all companies registered in the Kingdom, except publicly listed joint-stock companies, and will take effect 3 April 2025.

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