In light of the comprehensive digital transformation witnessed by the Kingdom, government services have become easier and more effective.
One of the most prominent of these services is the transfer of ownership of a commercial register, as the Ministry of Commerce and Investment has made it possible to transfer ownership of a commercial register, whether between individuals or individuals and companies, through its website with ease and convenience, with the necessity of adhering to the terms and complying with laws and regulations.
Whether you are an individual seeking to hand over your business or a company looking to grow and expand its business, follow me in this article as I will discuss everything related to this integrated solution through which you can transfer ownership with ease and flexibility.
It is a file that contains all the company's data and important and necessary information related to companies and commercial institutions, as well as data related to commercial activities in the Kingdom.
1- The commercial register contains basic information such as the type of commercial activity, the address of the company's headquarters, the amount of its capital, and the data of the registered person.
2- It represents an important reference for determining the legitimacy and legality of the commercial activity.
3- It facilitates all transactions related to companies, whether financial, commercial, or governmental.
4- The register must be renewed regularly to ensure that commercial activities are conducted legally and that no violations occur.
5- A means used by the public and viewed to verify the accuracy of information related to companies and institutions.
The process of transferring ownership of a commercial register requires the fulfillment of some important conditions, the most prominent of which are:
1- Submitting a certificate issued by the Social Insurance Authority.
2- Transferring all licenses associated with the current register.
3- The person to whom ownership of the register is transferred must not hold a job in the government sector.
4- Refraining from using personal names in naming companies or commercial institutions.
5- Submitting an official letter including the waiver of ownership of the commercial register.
6- The new owner of the register must have exceeded the legal age.
The process of transferring ownership of a commercial register to an institution usually requires the availability of some requirements that must be submitted, the most prominent of which are:
1- Completing the preparation of the required waiver or sale letter completely and accurately.
2- Providing a certificate of commitment from the Social Insurance Authority to ensure that the requirements are met.
3- Ensure that the trade name of the establishment is different from the owner's name.
The commercial register is one of the most important documents that business owners need and one of the services that require payment of some fees, these fees may include: Commercial Register Transfer Fees, which are usually paid once, and Trade Name Transfer Fees, 15% is usually added to the total amount of these fees.
The Role of Etmaam Company in Transferring Commercial Register Ownership
Etmaam Company is one of the most prominent companies specializing in providing all administrative and procedural services, including commercial register transfer services in Saudi Arabia, as it plays a major role in facilitating this process by providing comprehensive and integrated solutions, allowing customers to complete all procedures with flexibility and smoothness.
For more information, contact Etmaam, your business partner, starting from establishing a company in the Kingdom to registering a trademark.
No, it is not possible to transfer ownership of a commercial register that has financial obligations in most cases. Before starting the ownership transfer procedures, all financial obligations associated with the register must be settled, including debts and loans, government fees, labor obligations, taxes, and zakat as well.
It is not always necessary for the owners to be present in person to complete the commercial register transfer process, as the procedures can be completed through alternative means based on the laws and procedures in force in the Kingdom.
Yes, you can transfer ownership of the commercial register between an individual and an institution, whether the transfer is from an individual to an institution or vice versa, but this process requires fulfilling some conditions and procedures by Saudi laws and regulations.
Transferring ownership of a commercial register in Saudi Arabia
February 10, 2025
- بواسطة Sultan Al-Qahtani
