Through Sahel government application, the Ministry of Commerce has circulated notifications to business owners to undertake the registration of the actual beneficiary’s valid and correct data, in implementation of Ministerial Resolution No. (04) of 2023.
The aforementioned Resolution and this required measure aim to develop the State’s business environment, capabilities and economic standing by strengthening the Ministry’s supervisory role and confronting suspicious transactions and money laundering operations, as well as by assisting the regulatory authorities in achieving that purpose.
Actual beneficiary is any natural person who owns or exercises final direct or indirect control over the customer or the person on whose behalf the transaction is performed, or the natural person who exercises final actual control over a legal person or a legal arrangement as determined in Article (5) of the Resolution.
Business owners are required to provide information about persons who have shares in the company, yet are not present in the Ministry’s records, contracts, official documents or database.
Actual beneficiary’s identity identification shall be implemented in all cases, whether the actual beneficiary is known and previously mentioned in the Ministry’s records or if he has not been previously declared and identified.
Steps to Register the Actual Beneficiary Data
Through the Commercial Register E-Services Portal:
1. Select “Self-Service”
2. Log to “Add Actual Beneficiaries”
3. Enter the license commercial registration number, civil authority number or the central number.
4. Enter the Actual Beneficiary required data in the fields designated.
5. Click on “Save Beneficiary Data”