Commerce Ministry seeks public input on draft regulation for commercial registration

logo of Ministry of Commerce

Saudi Arabia’s Ministry of Commerce is seeking public opinion for the draft regulation of the Commercial Registration Law.
 

The Ministry explained that the draft regulation came based on the Commercial Registry Law issued by Royal Decree No. (M/83) dated 19/3/1446 AH. The draft regulation aims to organize registration procedures in the commercial registry, facilitate the practice of commercial business, achieve transparency and reliability, facilitate registration procedures, and reduce the time required to decide on registration requests.
 

In order to achieve its objectives, the draft regulation included a number of provisions, most notably defining the registrar's powers to enable them to raise the level of compliance and services provided and enhance technical connectivity with government agencies. In addition to the data included in the law, the regulation specified the data that must be registered, including the type of activity that the merchant wishes to practice.