Saudi Laws Update

Erring companies to be slapped with a maximum fine of SR500,000 February 24, 2025 The actual beneficiary rules apply to companies subject to the provisions of the Companies Law and foreign companies that operate within Saudi Arabia, except for joint-stock companies listed on the capital market. The actual beneficiary rules apply to companies subject to the provisions of the Companies Law and foreign companies that operate within Saudi Arabia, except for joint-stock companies listed on the capital market. Saudi Gazette report RIYADH — Minister of Commerce Dr. Majed Al-Qasabi has approved the actual beneficiary rules, which will take effect, in conjunction with the Commercial Registration Law, on April 3, 2025. Any company that violates the rules of the actual beneficiary shall be punished with a fine of up to SR500000 or any alternative penalty in accordance with the Companies Law and its executive regulations. The rules aim to enhance corporate transparency in line with international s...

  May 26, 2025 The service of transferring ownership of a sole proprietorship's commercial registration targets investors from Saudi Arabia and other Gulf states and the transfer process will be completed within one day. The service of transferring ownership of a sole proprietorship's commercial registration targets investors from Saudi Arabia and other Gulf states and the transfer process will be completed within one day. Saudi Gazette report RIYADH — The Ministry of Commerce has clarified that there are five terms and conditions for transferring ownership of a sole proprietorship's commercial registration to another person. The transfer can be undertaken via the e-services of the Saudi Business Center's business platform: business.sa. The service of transferring ownership of a sole proprietorship's commercial registration targets investors from Saudi Arabia and other Gulf states and the transfer process will be completed within one day. According to the conditions...

 May 26, 2025 The Ministry of Human Resources and Social Development said that, through Musaned, domestic workers can upload their CVs once their contract with their current employer ends. The Ministry of Human Resources and Social Development said that, through Musaned, domestic workers can upload their CVs once their contract with their current employer ends.   Saudi Gazette report RIYADH — The Ministry of Human Resources and Social Development has launched the “CV Upload” service for domestic workers through the Musaned platform, allowing employers to use it when transferring service of a worker to another employer. The ministry noted that this service is an innovative model designed to facilitate the selection of workers based on their résumé and to enable the smooth and streamlined transfer of services. The process is fully automated, enhancing employers’ access to domestic workers already residing in the Kingdom. Through Musaned, domestic workers can upload their CVs onc...

  May 25, 2025 Inspection teams from the Ministry of Commerce have seized more than 35,000 counterfeit smartphones and accessories at a facility in Riyadh Inspection teams from the Ministry of Commerce have seized more than 35,000 counterfeit smartphones and accessories at a facility in Riyadh Saudi Gazette report RIYADH — Inspection teams from the Ministry of Commerce have seized more than 35,000 counterfeit smartphones and accessories at a facility in Riyadh. The inspection teams, in cooperation with the security authorities, raided the facility. They found counterfeit phones of unknown origin and accessories, including charging cables, earphones, and other items in the warehouses of the firm. They also detected labels used to fake the country of origin and labels of well-known brands. The facility was closed and those involved in the fraud were referred to the concerned authorities to take punitive measures against them. The counterfeiting case was also referred to the Saudi Aut...

May 25, 2025 Saudi and Chinese officials discuss consumer complaints in auto sector Saudi Gazette report RIYADH — The Ministry of Commerce held a joint meeting with representatives from the Chinese Ministry of Commerce and the Chinese Embassy in Saudi Arabia to discuss urgent consumer-related challenges in the Kingdom’s fast-growing Chinese automotive sector. The session, which also included participation from the Saudi Standards, Metrology and Quality Organization (SASO), focused on identifying solutions to enhance consumer protection and improve after-sales services provided by Chinese car dealers and manufacturers operating in the Saudi market. Officials reviewed the current and projected growth of Chinese vehicle sales in the Kingdom, along with persistent consumer complaints related to after-sales performance and service quality. The goal, according to the Ministry, is to elevate customer experience and ensure Chinese automotive brands meet local standards as demand continues to r...

May 25, 2025 Commerce Ministry unveils updated digital commercial registration with QR code access Saudi Gazette report RIYADH — The Ministry of Commerce has introduced a redesigned digital commercial registration (CR) certificate for businesses in Saudi Arabia, featuring a more streamlined format and improved data accessibility. The updated CR now consists of a single-page electronic certificate containing all relevant business information. Users can instantly access detailed data by scanning a QR code displayed on the left side of the certificate. This update coincides with the implementation of the new Commercial Registry Law and its executive regulations. Among the key changes is the transition to a unified national CR per establishment, consolidating all activities under one license regardless of geographic location within the Kingdom. The revised system also eliminates the traditional expiration date for the CR. Instead, businesses are now required to electronically confirm their...

 May 25, 2025 Saudi Insurance Authority strips licenses from 28 insurance firms in sector shake-up Follow Saudigazette on Google News Account Saudi Gazette Report RIYADH — The Insurance Authority (IA) has issued final decisions to revoke the licenses of several insurance and brokerage companies operating in Saudi Arabia, as part of broader corrective measures to stabilize and enhance the sector’s performance and credibility. The decisions, based on the Cooperative Insurance Companies Control Law and relevant regulations, follow a series of actions initiated on August 28, 2024, and are intended to safeguard the rights of insured individuals and beneficiaries while supporting financial stability. Among the companies whose licenses have been revoked are Shire Insurance Agency Company, Al-Bulurat Insurance Brokerage Services Company, Al-Sabil Asia Insurance and Reinsurance Brokerage Company, Al-Aman Insurance and Reinsurance Brokerage Company, and Future Vision Insurance Brokerage Comp...