📋 What is a Beneficial Owner?
A natural person who ultimately owns or controls a legal entity, directly or indirectly holding 25% or more of shares or voting rights, or who exercises ultimate effective control through other means (board appointment rights, veto powers, contractual arrangements).
Filing Requirements
📌 All Bahrain-registered companies must maintain an internal UBO register
📌 File UBO information with MOIC through Sijilat portal within 30 days of incorporation
📌 Update within 15 days of any change in beneficial ownership
📌 Annual confirmation of UBO details during CR renewal
📌 Information includes: name, nationality, DOB, passport/CPR, address, and nature of control
Penalties for Non-Compliance
Failure to maintain or file the register carries fines of up to BD 10,000 per violation. Directors and officers are personally liable. In serious cases, MOIC can suspend or cancel the commercial registration. Bahrain's FATF Mutual Evaluation makes compliance critical.