Month: January 2024

Reading time: < 1 MinuteThe Ministry of Commerce has outlined the steps for amending company articles of incorporation in accordance with the new Companies Law, urging existing companies established “prior to its effective date of January 19, 2023” to take the initiative to amend their articles of incorporation. Steps to Amend Articles of Incorporation The Ministry urged companies to visit the “Business Platform” (business.sa), access the “Amendment of Articles of Incorporation/Bylaws” service, select “Harmonization” as the reason for the amendment, and submit … Read more

Reading time: 2 MinutesThe Ministry of Commerce has called on existing companies established “prior to the effective date of the new Companies Law on January 19, 2023” to take the initiative to amend their articles of incorporation in accordance with the new Companies Law, through the “Business Platform” operated by the Saudi Center for Economic Affairs. The Ministry clarified that the amendment of articles of incorporation is in accordance with Royal Decree No. (M/132) dated 1/12/1443 AH, which stipulates that … Read more

Reading time: < 1 MinuteThe General Real Estate Authority has confirmed that the “Off-Plan Real Estate Sales and Leasing” system; aims to regulate the sale and lease of off-plan real estate projects and to enhance transparency and disclosure to ensure the protection of the rights of all parties to the contractual relationship; Its implementation also aims to reduce violations in the off-plan real estate development sector and, together with the real estate legislative framework, contributes to … Read more

Reading time: < 1 MinuteIn 2023, the Al-Baha Region Secretariat and its affiliated municipalities issued 3,406 building permits for various sectors, in addition to 6,803 commercial licenses and 1,703 excavation permits. The Secretariat carries out its work in accordance with the strategy of the Ministry of Municipal, Rural Affairs, and Housing, which focuses on providing services to residents in a convenient and flexible manner tailored to their needs based on specific criteria, and on facilitating the process of obtaining permits… Read more

Reading time: < 1 MinuteTaysir Al-Mufarraj, a spokesperson for the General Real Estate Authority, said, that the decision to pay through digital channels comes in accordance with the Cabinet’s resolution to put in place all necessary arrangements to provide an electronic payment service for rent payments, to protect the rights of all parties involved in the rental process, and to enhance transparency. He added during an interview with Al-Ikhbariya TV that the decision applies only to «residential lease contracts,» explaining that commercial contracts … Read more