The Beneficial Owner Declaration Form is a crucial compliance document required under Saudi Arabian law for legal entities operating within the kingdom. It is mandated by various regulations, including the Anti-Money Laundering Law and Ministry of Commerce directives, as part of the country's commitment to ownership transparency and international anti-money laundering standards. The form must be submitted when establishing new entities, updating ownership information, or upon request by regulatory authorities. It requires detailed disclosure of individuals who ultimately own or control 25% or more of an entity, either directly or indirectly, including through voting rights or other control mechanisms. This documentation forms part of Saudi Arabia's broader framework for corporate governance and its alignment with Financial Action Task Force (FATF) recommendations.
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1. Declaration Details: Date, reference number, and details of the declaring entity
2. Entity Information: Legal name, registration number, legal form, and registered address of the entity making the declaration
3. Contact Person Details: Information about the authorized person completing the form including name, position, and contact details
4. Beneficial Ownership Information: Details of all natural persons who ultimately own or control 25% or more of the entity, including full name, nationality, ID/passport details, and ownership percentage
5. Control Structure: Description of how control is exercised, including voting rights and other means of control
6. Chain of Ownership: Detailed breakdown of the ownership structure, including any intermediate entities
7. Declaration of Truth: Formal statement confirming the accuracy of the information provided
8. Authorization: Signature section for the authorized representative, including capacity to sign and date
1. State Ownership Declaration: Additional section required when any ownership stake is held by government entities
2. Listed Company Information: Special section for entities listed on recognized stock exchanges, including exchange details and listing information
3. Trust Structure Details: Required when beneficial ownership involves trust arrangements, including details of trustees, settlors, and beneficiaries
4. Nominee Arrangements: Declaration of any nominee arrangements in place, required when applicable
5. Change in Beneficial Ownership: Section for declaring recent changes in beneficial ownership structure, if any
1. Schedule 1 - Supporting Documents Checklist: List of required supporting documents including ID copies, corporate documents, and proof of address
2. Schedule 2 - Ownership Structure Chart: Visual representation of the complete ownership structure including percentages and control relationships
3. Schedule 3 - Additional Beneficial Owners: Continuation sheet for declaring additional beneficial owners if space in main form is insufficient
4. Appendix A - Definitions: Detailed definitions of terms used in the form, including 'beneficial owner', 'control', and other key concepts
5. Appendix B - Instructions for Completion: Detailed guidance on how to complete each section of the form and requirements for supporting documentation
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