Implementation of the Commercial Register Law and Trade Names

Translated Document

SAMA refers to the letter received from His Excellency the Minister of Commerce concerning the recent updates related to the data recorded in the Commercial Registration Certificate. The updates include the adoption of the Unified National Number, beginning with (7), to serve as the primary and sole identifier for the establishment. Consequently, the Ministry will cease issuing shall be omitted commercial registration numbers. Additionally, the expiry date of the Commercial Registration Certificate will be removed, and rely solely on the annual confirmation submitted by the merchant to the Ministry to avoid the suspension of their registration. Further to SAMA's Circular No. (106896152), dated 11/10/1446H , which referenced Royal Decree No. (M/83), dated 19/03/1446H, approving the new Commercial Register Law and Law of Trade Names , we emphasize the necessity of implementing the provisions of both newly enacted laws. In addition, reference is made to SAMA's instructions regarding mandatory integration with the Ministry of Commerce’s systems for the purpose of electronically verifying the commercial registration information of establishments. SAMA emphasizes to all banks the importance of ensuring the readiness of their internal technical systems, to ensure compliance with the provisions of the newly enacted Commercial Register Law and the Law of Trade Names . Banks are also instructed to enhance awareness and understanding among staff in relevant business departments handling commercial registrations, as well as branch employees. This should be done with consideration of the key substantive amendments included in the aforementioned laws, including but not limited to the following:

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The issuance of subsidiary commercial registers has been cancelled. Instead, a single commercial register shall suffice to cover all business activities. A five-year grace period has been granted to regularize the status of existing subsidiary registers.

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The expiry date for commercial registrations has been eliminated. Instead, reliance will be placed on the current status of the commercial registration.

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The designation of a specific city in the commercial registration has been eliminated. The national address will now serve as the sole geographic reference.

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A trader’s registration will be suspended if the annual confirmation of commercial registration data is not submitted within ninety (90) days of its due date. Suspended registrations will be treated in the same manner as expired commercial registrations.

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Adoption of the Updated
Commercial Registration Certificate
(a copy is attached).

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The Unified National Number shall serve as the official identifier for commercial establishments, replacing the traditional commercial registration number.

Banks may verify commercial registration information through the following methods:

1.
Integration via the Wathiq Platform.

2.
Direct Inquiry through the Ministry's Official Website via the following link:
mc.gov.sa/ar/eservices/Pages/Commercial-data.aspx

3.
Request for an Extract from the Client or Commercial Registration Certificate through the QR Code displayed on the Commercial Registration Certificate.

Related Content
Implementation of the Provisions of the Commercial Register Law and the Law of Tradenames ( 106896152 )

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