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Beneficial Ownership Declaration Form for Saudi Arabia

Beneficial Ownership Declaration Form Template for Saudi Arabia

A comprehensive declaration document required under Saudi Arabian law that identifies and details the natural persons who ultimately own or control a legal entity operating within the Kingdom. This form aligns with Saudi Arabia's anti-money laundering regulations and the Ministry of Commerce requirements, capturing essential information about beneficial owners including their personal details, percentage of ownership, and nature of control. The document serves as an official record for regulatory compliance and transparency purposes, helping authorities monitor corporate ownership structures and prevent financial crimes.

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What is a Beneficial Ownership Declaration Form?

The Beneficial Ownership Declaration Form is a crucial compliance document required by Saudi Arabian authorities as part of their commitment to maintaining transparency in business operations and combating financial crimes. This document became particularly important following the implementation of enhanced AML regulations and the Kingdom's alignment with FATF recommendations. The form must be submitted by all legal entities registered in Saudi Arabia, requiring detailed disclosure of any individual who owns or controls 25% or more of the entity, either directly or indirectly. It also requires information about individuals who exercise significant control through other means. The document must be updated whenever there are changes in beneficial ownership structure, and failure to submit accurate declarations can result in significant penalties under Saudi law.

What sections should be included in a Beneficial Ownership Declaration Form?

1. Declaration Details: Basic information about the declaring entity including legal name, commercial registration number, and date of declaration

2. Entity Information: Details of the legal entity including registered address, legal form, and business activities

3. Beneficial Owner Information: Detailed information about each beneficial owner including full name, nationality, ID/passport number, date of birth, and residential address

4. Nature of Beneficial Ownership: Specification of how beneficial ownership is held (direct ownership, indirect ownership, control rights, etc.) and percentage of ownership

5. Chain of Ownership: Description of the complete ownership structure showing how beneficial ownership is derived

6. Control Structure: Information about voting rights, control mechanisms, and decision-making authority

7. Declaration of Truth: Formal statement confirming the accuracy of provided information

8. Authorized Signatory: Details and signature of the person authorized to submit the declaration

What sections are optional to include in a Beneficial Ownership Declaration Form?

1. Foreign Ownership Details: Additional section required when beneficial owners include non-Saudi nationals or entities

2. Trust Arrangements: Section needed when beneficial ownership involves trust structures or similar arrangements

3. Government Ownership: Required when any beneficial owner is a government entity or sovereign wealth fund

4. Listed Company Information: Special section for when the entity or its parent company is listed on a recognized stock exchange

5. Complex Ownership Structures: Additional details required for entities with multiple layers of ownership or complex corporate structures

What schedules should be included in a Beneficial Ownership Declaration Form?

1. Schedule 1: Supporting Documents: List of required supporting documents including ID copies, corporate documents, and proof of address

2. Schedule 2: Ownership Diagram: Visual representation of the ownership structure showing all entities and ownership percentages

3. Schedule 3: Additional Beneficial Owners: Continuation sheet for declaring multiple beneficial owners

4. Appendix A: Definitions: Detailed definitions of terms used in the declaration form as per Saudi regulations

5. Appendix B: Guidelines: Instructions for completing the form and regulatory requirements

6. Appendix C: Change Notification Form: Template for reporting future changes in beneficial ownership

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Saudi Arabia

Publisher

Ƶ

Document Type

Declaration Form

Cost

Free to use
Relevant legal definitions



































Clauses




















Relevant Industries

Financial Services

Banking

Real Estate

Manufacturing

Trading

Professional Services

Technology

Healthcare

Construction

Retail

Investment Companies

Mining

Energy

Telecommunications

Transportation

Education

Relevant Teams

Legal

Compliance

Corporate Governance

Finance

Risk Management

Corporate Affairs

Regulatory Affairs

Company Secretariat

Board Administration

Internal Audit

Relevant Roles

Compliance Officer

Legal Counsel

Company Director

Corporate Secretary

Chief Financial Officer

Risk Manager

AML Compliance Manager

Corporate Governance Officer

Managing Director

Board Secretary

General Counsel

Regulatory Affairs Manager

Finance Director

Company Registrar

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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