In a detailed organizational step, the Saudi Ministry of Commerce announced today the cancellation of the condition of determining the date of the expiration of the commercial registry, as part of a package of reforms aimed at simplifying procedures and improving the investment environment in the Kingdom, and the ministry explained that the decision will enter into force starting from next week and includes all commercial records of institutions and companies operating within Saudi Arabia, and this procedure is among the initiatives that are in line with the Kingdom’s 2030 vision aimed at enhancing business efficiency and facilitating procedures on Local and international investors.
According to an official statement of the ministry, the commercial registry will not have an end date anymore, but will remain in effect as long as the facility continues to renew the subscription of the chambers of commerce and pay the regular fees, and the periodic review of the records will be automatically without the need for manual renewal procedures, which provides a great time and effort on the owners of the establishments, and supports the full digital transformation that the ministry adopts in its various transactions.
This trend was widely welcomed by businessmen and entrepreneurs in various regions of the Kingdom, where many of them considered that the decision would remove one of the largest bureaucratic obstacles that were facing them in the establishment and employment operations.
For his part, the spokesperson for the Ministry of Commerce stressed that the new system also includes modern supervisory mechanisms to follow up the commitment of facilities to regular requirements, and that the cancellation of the expiry date does not mean the absence of oversight but rather enhances it through integration with other systems such as the “Maraas” platform and the unified licensing system, and pointed out that the ministry will launch an awareness campaign through various means to explain the details of the new system and train the owners of the establishments on the mechanism of working with it.
It is expected that this amendment will contribute to improving the Kingdom’s arrangement in indicators of ease of business, as well as enhances the attractiveness of the Saudi market in front of the foreign investor who is looking for a stable and organized environment and clear procedures, and the decision comes in a context of a more comprehensive government trend to remove administrative complications and facilitate the start and operations of business in a way that keeps pace with international standards and contributes to supporting national economic growth.
