Only 16 days and the corrective period for violators of the commercial concealment system ends

Commercial concealment

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Only 16 days remain of the corrective period for violators of the commercial concealment system, which will end on February 16, 2022, through which those who wish can benefit from the multiple options granted by the correction to violating establishments of various sizes, especially those whose annual revenues exceed 2 million riyals regardless of the activity in which they operate.

The National Anti-Cover-Up Program confirmed that the correction will continue until the end of the corrective period scheduled for February 16, 2022, with all appropriate options available for all establishments of all sizes in various sectors, as these options include partnership in the establishment between a Saudi and a non-Saudi, registration of the ownership of the establishment in the name of a non-Saudi, the Saudi's continued practice of economic activity by introducing a new partner in the establishment (Saudi or licensed foreign investor), and the disposal of the Saudi in the establishment by selling, transferring or dissolving the establishment, in addition to the option for the non-Saudi to obtain privileged residence, and the final departure of the non-Saudi from the Kingdom.

The program recently stressed the focus of monitoring after the expiration of the deadline, pointing out that there is no room for excuses for violators after that date in light of the length of the corrective period and the deadline that was added to it, and it is inevitable to apply the penalty prescribed for them in the system and other consequential penalties.