Latest news with #commercialregistration
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. (
Zawya
23-05-2025
- Business
- Zawya
Saudi: Updating commercial registration owner data allows access to all e-services
RIYADH — The Ministry of Commerce has clarified that updating commercial registration owner data electronically allows access to all electronic services provided by the ministry to the business sector in partnership with the Saudi Center for Economic Business. The ministry explained that there are certain terms and conditions for completing the procedures of updating commercial registration. These include an active commercial registration and the age of the applicant should be 18 years or above. The update is not possible for employees who are working in the government sector. There should be at least one manager working in the commercial registration section, in addition to obtaining the manager's approval if the applicant is not the owner of the commercial registration. The ministry stated that the service will be provided electronically free of charge and is completed within one day via the "Business Platform": © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Argaam
18-05-2025
- Business
- Argaam
Rawasi Albina incorporates, registers new subsidiary
Rawasi Albina Investment Co. announced the completion of the incorporation process and the issuance of the commercial registration for its wholly owned subsidiary, Nomu Al Jazeera Co., a single-member limited liability company with a capital of SAR 5,000. In a statement on Tadawul, Rawasi Albina pointed out that the new entity will commence operations upon completing all administrative and technical setup requirements. The subsidiary will operate in the field of investment activities. Key establishment requirements are fulfilled, and there are no associated costs with this event during the current period, the statement noted. Any financial impact will be disclosed once determined. According to data available on Argaam, Rawasi Albina announced that its board of directors approved, on May 14, the establishment of a limited liability company headquartered in Riyadh. The newly established entity will serve as the investment arm for the company's future strategic plans and will be 100% owned by Rawasi Albina.
