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Beneficial Owner Declaration Form for Saudi Arabia

Beneficial Owner Declaration Form Template for Saudi Arabia

A comprehensive declaration form used in Saudi Arabia to disclose and document the natural persons who ultimately own or control a legal entity. This document complies with Saudi Arabian regulations, including the Anti-Money Laundering Law and Ultimate Beneficial Ownership Rules, requiring detailed information about individuals holding 25% or more ownership or control. The form captures essential details about the ownership structure, control mechanisms, and relevant supporting documentation, ensuring compliance with both local and international transparency standards.

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What is a Beneficial Owner Declaration Form?

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.

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

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

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

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

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

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

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








































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Relevant Industries

Financial Services

Banking

Real Estate

Manufacturing

Retail

Healthcare

Technology

Energy

Construction

Professional Services

Telecommunications

Mining

Agriculture

Transportation

Hospitality

Education

Import/Export

Defense

Media and Entertainment

Relevant Teams

Legal

Compliance

Corporate Governance

Risk Management

Finance

Corporate Services

Regulatory Affairs

Company Secretariat

Due Diligence

Business Administration

Relevant Roles

Compliance Officer

Legal Counsel

Company Secretary

Corporate Governance Manager

Risk Manager

Chief Financial Officer

Managing Director

Board Director

Regulatory Affairs Manager

AML Compliance Manager

Corporate Services Manager

Due Diligence Officer

Company Registrar

Legal Administrator

Governance Specialist

Industries








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