Ministry of Commerce, represented in the off-plan sales program, has adopted new controls. The controls stipulated the need to submit an application for a license and fill out the form prepared for that, accompanied by a copy of the exhibition rental contract, a copy of the property documents to be displayed inside the Kingdom certified by the competent authorities in the country of the property, in addition to a copy of the off-plan sales license issued for the project from the country of the property certified by the competent authorities in the country of the property, and an official document from the competent authorities authorizing the ownership of the property for Saudis and certified by the competent authorities in the country of the property.
Requirements also included The requirements also included that all documents must be submitted in Arabic, and can be submitted in English with a certified translation, in addition to a commitment not to receive payments or sign contracts of any kind within the Kingdom.
The ministry excluded the requirement to authenticate the documents if they can be verified through the website of the official authorities.
The ministry excluded the requirement to authenticate the documents if they can be verified through the website of the official authorities. <It is worth mentioning that the Ministry allowed the issuance of licenses to market real estate outside the Kingdom at the beginning of 2015 after many violations of foreign marketing were detected, and called upon all real estate marketers for foreign projects to obtain the necessary license and adhere to the regulations. The Ministry of Commerce and Industry invites the public and interested parties to know the conditions and requirements of the off-plan sales program on the website re.mci.gov.sa
