Business owners urged to update beneficiary details via ‘Sahel’ App
The Ministry of Commerce and Industry said that business owners must register to update their data and professions within a week from the date of notification published through the ‘Sahel’ application.
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The Ministry of Commerce and Industry said that business owners must provide the necessary data for registrants who have properties in the company, and a procedure for identifying the actual beneficiary must be implemented for all cases.
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The Ministry of Commerce and Industry aims to develop the business environment, enhance the state’s capabilities, and bolster its economic standing by strengthening its supervisory role.
The Ministry of Commerce and Industry has announced the distribution of notifications to business owners through the government ‘Sahel’ application, urging them to update the accurate details of the actual beneficiary in compliance with Ministerial Resolution No. 4 of 2023.
The ministry stated in a statement that business owners must provide the necessary data for registrants who have properties in the company, and a procedure for identifying the actual beneficiary must be implemented for all cases, whether the actual beneficiary is known or previously mentioned in the ministry’s records.
The ministry explained that business owners must register to update their data and professions within a week from the date of notification published through the government ‘Sahel’ application. It noted that the update is done by accessing the commercial registry portal at Ereg.moci.gov.kw, selecting self-service, and entering the add beneficiaries section.
The actual beneficiaries should input the commercial registry number for the license, the civil entity number, or the central number, provide the required data for the actual beneficiary in the designated field, and then save the beneficiary data by clicking on the relevant button.
The ministry explained that this measure aims to develop the business environment, enhance the state’s capabilities, and bolster its economic standing by strengthening its supervisory role, combating suspicious operations and money laundering activities, and assisting regulatory authorities in achieving these goals.
