The Ministry of Commerce clarifies the procedures and requirements for transferring ownership of the commercial registration of a sole proprietorship

"التجارة" توضح إجراءات ومتطلبات نقل ملكية السجل التجاري لمؤسسة فردية

The Ministry of Commerce clarified the requirements for transferring ownership of a sole proprietorship's commercial registration to another person via the Business Platform of the Saudi Business Center (business.sa). The service, targeting Saudi or Gulf investors, is completed within one day, and requires the commercial registration to be active, the new owner to not already own a sole-proprietorship registration, not be a government employee, be at least 18 years old, and not have the registration under the assignor's personal name. If the transferring party is deceased, a deed of heirship, a guardianship deed (if minors are involved), a legal power of attorney from all heirs consenting to the transfer, and a sale/assignment contract stating the registration number must be submitted electronically via the platform.

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