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Zawya
27-05-2025
- Business
- Zawya
Saudi: Five conditions to transfer ownership of commercial registration to a sole proprietorship
RIYADH — The Ministry of Commerce has clarified that there are five terms and conditions for transferring ownership of a sole proprietorship's commercial registration to another person. The transfer can be undertaken via the e-services of the Saudi Business Center's business platform: The service of transferring ownership of a sole proprietorship's commercial registration targets investors from Saudi Arabia and other Gulf states and the transfer process will be completed within one day. According to the conditions, the commercial registration shall be active; the new owner does not already own a sole proprietorship's commercial registration; the new owner shall not be a government employee, the age of the owner shall be at least 18 years; and the name in the commercial registration shall not be the transferor's personal name. The ministry indicated that if the person from whom the commercial registration is transferred is deceased, a deed of inheritance must be submitted, along with a deed of guardianship if there are minors. A legal power of attorney from all heirs must be provided, stipulating the transfer of the business, and a sale and transfer contract from the heirs, specifying the registration number, must be submitted electronically via the "Business Platform." © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Leaders
07-04-2025
- Business
- Leaders
Commerce Ministry Announces New Trade Name Procedures for Saudi Businesses
The Ministry of Commerce has introduced updated guidelines for registering trade names under the new Trade Names Law, now applicable through the Saudi Business Center platform. Under the revised procedure, businesses are only required to reserve a trade name—without specifying the legal entity type (such as a sole proprietorship or company) or the commercial activity. This simplifies and accelerates the business registration process. Effective April 3, 2025, the new Trade Names Law and its executive regulations aim to boost confidence in the commercial landscape by streamlining trade name registration, enhancing their legal value, and safeguarding related rights. Related Topics : Saudi Commerce Ministry: New Trade Laws Effective Thursday The volume of trade exchange between Japan & the Kingdom over 5 years is $175.25 Bn: Saudi Commerce Ministry Trump's Tariffs Spark Worldwide Reactions, Risking Global Trade War Saudi Arabia, Greece Strengthen Trade Partnership at Roundtable Meeting Short link : Post Views: 30 Related Stories
