"Commerce" clarifies the procedures for transferring ownership of an establishment's commercial registration to preserve rights and avoid any obligations

"التجارة" توضح إجراءات نقل ملكية السجل التجاري لمؤسسة لحفظ الحقوق وتجنب أي التزامات

The Ministry of Commerce clarified the procedures required when transferring ownership of an existing establishment's commercial registration to a new owner, in order to preserve rights and prevent unexpected future obligations. It stated that both the registration holder and the transferee must verify the registration is free of violations, overdue fines or fees, and pending lawsuits, with official documentation completed electronically via a code sent to the mobile number verified on the Absher platform. The ministry added that the transfer also requires completing procedures with related entities, including the Ministry of Human Resources and Social Development, the Ministry of Municipalities and Housing, the Zakat, Tax and Customs Authority, the General Organization for Social Insurance, chambers of commerce, and banks.

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