Declaration of the Real Beneficiary is an Obligatory Procedure:
Under the Law No. (1) of 2020 regarding the Unified Economic Register, and the Council of Ministers Decision No. (12) of 2020 on the executive regulations of the law referred to, the declaration of the real beneficiary has become a compulsory procedure to apply for the registration of a private institution of public interest or the amendment of its statute, so that any of such applications shall not be accepted unless a completed real beneficiary declaration form prepared for the purpose is attached thereto.
In cases where it appears to the employee responsible for registering the private institutions of public interest that the real beneficiary declaration has not been submitted, or that the submitted declaration contains incomplete information, the applicant shall be notified by any means of notification to submit the real beneficiary declaration or to complete the declaration within a period not exceeding three days from the date of the notification, otherwise the application shall be considered rejected.
Who is the Real Beneficiary?
The real beneficiary is a natural person who permanently owns or controls effectively a legal person or a legal arrangement, or the natural person on whose behalf the operations are carried out. The real beneficiary also includes the person who exercises effective and final control over a legal person or legal arrangement.
How to Determine the Real Beneficiary of the Private Institution of Public Interest?
The real beneficiary of the private institution of public interest shall be determined as follows:
- A natural person (or natural persons) who exercises actual or legal supervision or control over a private institution of public interest, by any means, whether direct or indirect.
- In the event that the real beneficiary is not known according to the previous clause, the real beneficiary shall be the natural person who has the capacity of legal representation of the private institution of public interest in accordance with the legislation regulating it.
What is the Required Information about the Real Beneficiary?
Private institutions of public interest shall determine the identity of the real beneficiary thereof, based on approved documents, information, or data, and such are the information that must be declared when applying for registration or amendment, and must be kept updated and supported by the supporting documents in their special register kept by them for such purpose.
The required information that must be kept in their register shall include, at least, the following:
1- Name of the real beneficiary as indicated in the official identification document, such as the personal card, ID card, passport or other documents that prove the identity.
2- The date and place of birth of the real beneficiary.
3- A statement of the nationality of the real beneficiary, or his nationalities in case of multiple nationalities.
4- Address as stated in the official identification documents such as the personal card, ID card or passport.
5- ID card number for Qataris and residents in the State of Qatar.
6- Passport number for non-Qatari residents and non-residents in the State of Qatar.
7- The date of issue and expiration of the personal card, ID card or passport.
8- The date on which the person became a real beneficiary.
9- Specifying the bases and means by which the real beneficiary exercises actual or legal supervision or control over the private institution of public interest, by any means, whether direct or indirect.
12- Specifying the date of the last update of the register containing information about the real beneficiaries.
What is the Register of the Required Information about the Real Beneficiary?
It is the register that a private institution of public interest must keep in an complete, accurate and up-to-date manner for the required information about the real beneficiaries and must submit a copy thereof to the Documentation Department within a period not exceeding ten days from the date of submitting the application. Whoever does not keep a complete, accurate and up-to-date register of the required information about the real beneficiaries and does not submit a copy thereof to the Documentation Department, shall be punished by imprisonment for a period not exceeding two years and a fine not exceeding (500,000) five hundred thousand Riyals, or by one of these two penalties. The violating legal person shall be punished with the aforementioned fine.
The register and all documents supporting the required information shall be kept in a safe place that guarantees its protection and confidentiality.
If there is any change in the required information, the private institution of public interest must seek to obtain the documents proving the occurrence of such change and update that information in the register it keeps. It shall inform the Documentation Department of all changes that occur in the required information and shall submit an updated register within a deadline not exceeding thirty days from the date of obtaining the documents proving the occurrence of the change. In the event that it is not possible to obtain the documents proving the aforementioned changes, it must inform the Documentation Department of any change in the required information within a deadline not exceeding ninety days from the date of its knowledge of such change, indicating the reasons that led it to believe that a change in the required information has occurred.
Download the Real Beneficiary Declaration Form