The Ministry of Commerce and Industry has revoked The Ministry of Commerce and Industry has revoked the requirement that factories register 25 percent of their total financing as capital in the commercial registry, in order to facilitate and streamline the procedures for issuing industrial licenses and improve the investment environment.
This measure comes within the framework of the state’s policy aimed at promoting economic activity and reflects the Ministry’s commitment to facilitating and simplifying industrial licensing procedures and removing any obstacles that may hinder the commencement of business operations.
It is worth noting that the decision requiring factories to register 25 percent of their total financing took effect on 28/05/1437 AH, and in line with the Ministry’s desire to remove all obstacles facing industrial investors, this requirement has been lifted effective the beginning of this week.
Meanwhile, the Ministry of Commerce and Industry is continuing to implement its initiatives aimed at raising the level of disclosure and transparency and applying the best governance standards for the corporate sector by adding a dedicated page on the «Amal» portal that shows a company’s level of compliance.
This page provides those interested in the business sector and the company’s stakeholders with information on the extent of its compliance with corporate law by displaying the company’s registration status, the filing of its financial statements, and the minutes of its general meetings, as well as indicating whether the company’s accumulated losses have exceeded the statutory percentage of its capital and displaying the status of the company’s board of directors" term. This service will be added to the suite of e-services currently available through the "Amal” portal http://aamal.sa
