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Business and Finance

MOCI Announces the Start of Receiving Permits of Real Beneficiary as of 18 April

19 Apr, 2021 09:37 AMGulf Times, Ministry of Commerce and IndustryIntended Audience
Citizen: Business Owner

News Details

The Ministry of Commerce and Industry (MOCI) has announced the start of receiving permits related to the real beneficiary upon requesting registration, amendment, or renewal of the commercial register for commercial companies as of 18 April 2021.

This procedure comes within the framework of implementing the provisions of Law No (1) of 2020 regarding the unified economic registry and its executive regulations issued by the Cabinet Resolution No (12) of 2020.

MOCI clarified that as of the abovementioned date, any application for registration in the commercial register would not be accepted, modified or renewed, unless the declaration of the real beneficiary is attached to it or if the submitted permit contains incomplete information.

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