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.
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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
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
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
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Financial Services
Banking
Real Estate
Manufacturing
Trading
Professional Services
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Healthcare
Construction
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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
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Corporate Secretary
Chief Financial Officer
Risk Manager
AML Compliance Manager
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Managing Director
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Company Registrar
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