⚠️ Who is a UBO?
A natural person who ultimately owns or controls ≥25% of shares or voting rights, or who exercises effective control over the entity through other means (board appointment, veto rights, nominee arrangements).
Declaration Requirements
📋 Initial Registration
UBO declaration required at company formation on Sijilat. Passport copies, nationality, date of birth, residential address, and percentage of ownership for each UBO.
🔄 Annual Update
Update UBO information annually alongside CR renewal. Any changes to UBO structure must be reported within 30 days of the change.
🔍 Nominee Structures
Nominee shareholders must disclose the true beneficial owner. Trust structures and foundations must declare beneficiaries. CBB-regulated entities have separate KYC obligations.
💰 Penalties
Failure to file or filing false information: fines up to BD 50,000 and/or imprisonment. Directors personally liable for ensuring compliance. CR suspension for persistent non-compliance.