In today's advanced business world, a commercial register has become the cornerstone of any commercial establishment's success.
It is not just an official document; its presence represents the company's legal identity. To learn how this commercial register can be one of the most important keys to the doors of opportunities and growth, continue reading with me in this article. I will discuss everything related to the importance of issuing a commercial register in the Kingdom.
The commercial register is one of the important tools used by the Ministry of Commerce and Industry in Saudi Arabia to manage and organize the movement of trade in the Kingdom.
The commercial register is the official register that contains all the detailed information about traders and companies and their commercial activities.
The competent authorities can follow up on the status of commercial activities and ensure the extent of compliance with the regulations and compliance with the applicable regulations through this register.
The commercial register is a vital tool that ensures that commercial operations run properly and smoothly, so its existence has become of great importance to traders and the Kingdom alike.
The commercial register is an important step to provide legal recognition that allows the project to practice its activities officially and legally, and thus works to enhance credibility before customers and partners, and also ensures the protection of the rights of traders in the event of any legal dispute.
The commercial register represents a legal protection shield that ensures the stability and safety of businesses, as failure to issue a commercial register may cause the person to fall into fines and legal penalties, so there must be a commercial register that includes all the required data and also compliance with all local regulations and laws.
The presence of the commercial register represents a documented certificate confirming the existence of this commercial entity, which facilitates the opportunity for the owner to obtain financing from various financial institutions in the Kingdom, and also represents a guarantee and evidence of the extent of the owner's commitment and ability to pay these debts.
Through the commercial register, any other person who wants to deal with them can verify the existence of this company or institution, and thus the existence of a commercial register contributes fundamentally to helping make sound commercial decisions and reducing risks.
It is one of the important documents that are relied upon when carrying out any governmental or non-governmental procedures, such as its use during government licensing processes, commercial contracts, and tenders, which proves the legality and legitimacy of this commercial process.
Having a commercial register allows you to inquire about the records of other companies to ensure their legality and credibility before dealing with them, and likewise allows your company to prove its legality to potential partners, which facilitates the conclusion of future deals with confidence.
Legally registering your company reduces your responsibilities, as your responsibilities are linked to the number of shares you own, and the situation is different if the company is individual, as the liability remains entirely personal.
Commercial registers in the Kingdom are divided into several different types, and types based on the nature of this commercial activity and entity, and the most prominent of these types are:
1- The main commercial register is usually designated for individuals and companies that have an official activity and work independently.
2- Sub-register issued for sub-activities related to the main register.
3- Individual commercial register which is owned by individual institutions such as shops and small projects.
4- Commercial register for companies and is dedicated to companies of various types, whether joint stock companies, limited liability companies, or partnership companies.
5- Electronic commercial register which is issued through the platform of the Ministry of Commerce in the Kingdom.
To extract and issue a commercial register in Saudi Arabia while ensuring compliance with all regulations and laws, follow the following:
1- Visit the website of the Saudi Ministry of Commerce.
2- Choose "Electronic Services" from the list above.
3- Then choose the "Issuing a Commercial Register" service.
4- Login through the commercial register system or the unified access.
5- Choose the registration method that suits your status, whether you are a citizen and resident, a Gulf citizen, or a non-resident.
6- The system will transfer you directly to the unified access platform, so you must have an account on the Absher platform.
7- Fill in all the required data accurately.
8- The system will transfer you directly to the commercial register system.
9- Choose the commercial register issuance command.
10- Fill in the required data accurately.
11- After entering the data, your request data will be displayed, so approve it.
12- Pay the invoice value whose details were displayed to you.
13- After paying the fees, your request will be reviewed.
14- After approving your request, you can receive your commercial register.
The commercial register represents a basic document that enhances trust among all stakeholders, including consumers, buyers, partners, and investors.
It contributes to enhancing credibility and transparency and supports the chances of business success. It is also a pivotal tool for verifying the accuracy of commercial and financial information for companies and institutions, allowing the public, regulatory authorities, and investors to evaluate performance, reliability, and the extent to which companies comply with financial laws and regulations.
In addition, the commercial register contributes to facilitating business operations, promoting a fair competitive environment by reducing commercial fraud and forgery, and ensuring dealing with companies that comply with laws and professional standards.
The cost of opening and issuing a commercial register depends on the type of commercial activity and the nature of the company or institution. These fees include the costs of both the commercial register opening fees, the Chamber of Commerce fees, and some other additional fees.
The process of issuing a commercial register requires some documents that may differ depending on the nature of this activity. The most prominent of these documents are a copy of the company’s articles of association or bylaws, a copy of the person’s national ID card, and details of the company’s bank accounts.
January 19, 2025
- بواسطة Sultan Al-Qahtani
