- The first phase covered 73,712 inactive companies, each incurring a fine of KD 1,000, totaling KD 2.845 million.
- The second phase targeted 1,836 additional entities, fined KD 2,000 each, adding KD 3.672 million.
- The ministry emphasized that awareness campaigns, workshops, and a detailed guidance manual significantly boosted registration rates, raising compliance from 42.8% at the end of 2024 to an impressive 98.62% by October 2025.
The Ministry of Commerce and Industry announced that it has completed a major cleanup of the commercial register as part of its 2024–2025 project to strengthen transparency and ensure accurate identification of actual beneficiaries.
The ministry removed 73,700 inactive companies, updated thousands of corporate records, and coordinated extensively with several government entities to verify data and enforce compliance, reports Al-Rai daily.
According to the ministry, the first phase covered 73,712 inactive companies, each incurring a fine of KD 1,000, totaling KD 2.845 million. The second phase targeted 1,836 additional entities, fined KD 2,000 each, adding KD 3.672 million.
The ministry emphasized that awareness campaigns, workshops, and a detailed guidance manual significantly boosted registration rates, raising compliance from 42.8% at the end of 2024 to an impressive 98.62% by October 2025.
Verification of the actual beneficiary now takes place through the “My Identity” digital platform, where the individual’s electronic identity is authenticated.
Once verified, an automatic notification is sent via the government “Sahel” app, giving the registered beneficiary the chance to confirm or correct their information.
The ministry stressed that these procedures enhance transparency by revealing the true controlling or benefiting party behind a company, preventing the use of front names or concealed ownership.
The ministry also highlighted that an accurate beneficial owner register is crucial for meeting international standards, particularly FATF Recommendation 24.
Strong compliance enhances Kuwait’s global ranking, supports the national risk assessment, and strengthens the country’s anti-money laundering and counter-terrorism financing framework.
Improved oversight allows regulators quick access to ownership data, helping detect commercial concealment, analyze suspicious patterns, and support investigations—ultimately protecting the business environment and reducing economic risks.
To build on this progress, the ministry will host a workshop on Monday at the Ministries Complex, with participation from the Public Authority for Civil Information, the Public Authority for Manpower, the Ministry of Justice, and the Public Institution for Social Security.
The workshop will focus on emerging risks in the corporate sector, updates to the beneficial owner register, and the importance of continuous data accuracy. Financial institutions and non-financial professions will also receive guidance on applying beneficial ownership requirements.
The ministry noted that Kuwait has made significant strides this year in deepening understanding across public and private sectors about beneficial ownership and the importance of accurate disclosure.
The service now allows users to search and view company registration details, boosting confidence in the business sector and reinforcing national goals of transparency and accountability.
