Spokesperson Ministry of Commerce Abdulrahman Al-Hussein explained that fines ranging from SR500 to SR10,000 for violations of the commercial register system, including failure to submit annual confirmation data, practicing commercial activities without registration in the commercial register, and submitting incorrect data in the commercial register leading to misinformation.
Rahman Al-Hussein The spokesman for the Ministry of Commerce, Abdulrahman Al-Hussein, confirmed that the new commercial registration system has witnessed changes, including not issuing subsidiary records for the trader and only one record, not specifying a city for the commercial register and its inclusiveness to all regions of Saudi Arabia, indicating that a 5-year deadline has been given to correct the status of existing subsidiary records for institutions and companies, indicating that one of the most important developmental measures in the system is to suffice with a single commercial register for the establishment on the level of Saudi Arabia, including all its activities, and cancel the issuance of subsidiary records for institutions and companies, which helps reduce the financial burden on commercial establishments.
Another important developmental measure in the system is that only one commercial register is required for an establishment on the level of Saudi Arabia, including all its activities. It is worth mentioning that the total number of commercial records at the end of last year was more than 1.6 million commercial records for institutions and companies.
It is worth mentioning that the total number of commercial records at the end of last year was more than 1.6 million.
