Using Commercial Registers for the Same Activity in Many Locations/Stores in the Same Administrative Region

In the Name of Allah, the Most Gracious, the Most Merciful

Saudi Central Bank
Head Office

Banking Policies Department

No.: 11993 / 67
Date: 26/02/1440 AH
Attachments: None

To the Respected,
Peace, mercy, and blessings of Allah be upon you,

Subject: Using a Commercial Register for Multiple (Headquarters/Stores) for the Same Activity and the Same Administrative Region.

The Bank has received a circular from His Excellency the Minister of Commerce and Investment No. 1061 dated 07/01/1440 AH, which highlights the Ministry's efforts to facilitate commercial activity requirements and reduce associated costs, thereby positively impacting the Kingdom's global economic indicators. The Ministry has studied the matter of requiring the issuance of subsidiary commercial registers for each store or headquarters, even if located in the same city and engaged in the same activity, as stipulated in Article Two of the Commercial Register System.

The Ministry of Commerce and Investment has clarified that the issuance of subsidiary commercial registers is mandatory only when opening a (headquarters or store) that engages in activities different from the main activity, or when opening a (headquarters or store) in administrative regions outside the administrative region of the main headquarters. Furthermore, the Commercial Register System does not require the issuance of a subsidiary commercial register for each (headquarters or store) opened, and procedures for each (headquarters or store) can be completed with the main or subsidiary register in the same region and compatible with the activity.

For your information and necessary action.

Yours sincerely,

Yazeed bin Ahmed Al-Sheikh
Director General of Banking Supervision

Distribution Scope:

• Banks and financial institutions operating in the Kingdom.

P.O. Box 2992, Riyadh 11169 | Telex: MARKAZI | Fax: 404400 | Tel: 4633000 | Fax: 4662414