Kuwait Clarifies License Restrictions and Fines for Non-Compliance with Ultimate Beneficial Ownership Requirements

Kuwait's Ministry of Commerce and Industry issued Ministerial Resolution No. (37) of 2026 on 16 April 2026, which strengthens the country's ultimate beneficial ownership (UBO) requirements. The requirements for companies to maintain a UBO registry and submit UBO information were introduced through Resolution 4/2023, which is effective from 1 April 2023. Through Ministerial Resolution No. 37, it explicitly provided that no license may be granted or renewed unless the UBO requirements are met.…