Overview
As part of Oman’s corporate transparency and anti-money laundering framework, companies are required to identify and register their Ultimate Beneficial Owners (UBOs) under Ministerial Decision No. 424/2023, implemented from 11 December 2025. Based on our engagement with the authorities, we’ve outlined the key practical points below to help you stay compliant.
Who Must Comply?
The requirement applies to:
- Limited Liability Companies (LLCs)
- Sole Proprietor Companies (SPCs)
- Closed Joint Stock Companies (SAOCs)
- Partnerships and similar entities
What Is a UBO?
A UBO is a natural person who ultimately owns or controls a company by:
- Holding 25% or more of shares, or
- Exercising 25% or more of voting rights (directly or indirectly)
If no individual meets this threshold, a senior management official (e.g., Managing Director or CEO) must be recorded as the UBO.
Key Practical Points
- The system automatically assigns a UBO coordinator based on individuals listed on the Commercial Registration (CR).
- This coordinator acts as the official contact with the Ministry, but is not necessarily a UBO.
- The coordinator’s details are maintained internally and do not appear on the CR.
- The coordinator must be resident in Oman with a valid ID.
- If no authorised signatory holds a valid Oman ID, one must be nominated.
Changing the UBO Coordinator
- If you choose to appoint a different coordinator, the individual must qualify as a UBO.
- Any changes must be submitted through the Oman Business Platform.
Compliance Requirements
- Ensure UBO details are accurate, complete, and recorded on the Oman Business Platform.
- New companies must complete UBO registration during or shortly after incorporation.
- Any changes to ownership, control, senior management, or UBO details must be updated promptly.
- While no specific penalties have been formally enforced by the authorities at this stage, companies are advised to complete their UBO registration at the earliest to avoid any future compliance risks.
How Bondoni Can Support
Bondoni can assist with:
- UBO registration and updates via SANAD
- Reviewing CR records (for authorised managers)
- Ongoing compliance support and regulatory updates
We continue to monitor developments and will keep you informed of any further requirements or deadlines.