Ultimate Beneficial Owner



According to  the Ministerial Order  No. (83) of 2020 related to the disclosure of the Ultimate  beneficial Owner  for all commercial , it is  now  mandatory in accordance with the Ministerial order for  all CR holders to CR, Except for those  licensed by the Central Bank of Bahrain.
The order  aims to enhance market transparency, increase market efficiency, preserve the rights of consumers, shareholders, partners in commercial companies and investors  in the Kingdom of Bahrain, as well as increase credibility, trust and limit any negative effects that may result from abusing  CR for illegal purposes or damaging the reputation of the Kingdom of Bahrain within the framework of international obligations related to combating money laundering and terrorist financing and international obligations related to preventing tax evasion and profit shifting.
The Ultimate Beneficial Owner is defined as the natural person(s) who ultimately owns or controls a customer and/or the natural person on whose behalf a transaction is being conducted. It also includes those persons who exercise ultimate effective control over a legal person or arrangement.
the Ultimate Beneficial Owner details can be added  In Sijilat portal by ffollowing simple steps
• Login to Sijilat using your e-key
• Go to other service menu
• Choose ultimate beneficial owner --- Registration
You can view the full guidance of registering UBO in Sijilat by clicking here
To View the UBO Declaration form click here
 If you have any further questions you may read the frequently asked questions regarding UBO by clicking here In addition, you may read the comprehensive guidance issued by the Financial Action Task Force (FATF)  related to transparency and beneficial ownership by clicking here