The project aims to create a central electronic database in which the names and data of the beneficiaries of the provisions of the system are recorded, the terms of reference and procedures for commercial registration and the identification of persons and entities to be registered in the commercial register. The system offers provisions to facilitate the practice of business, the most vital of which is the lack of homogeneity in the activities practiced by the commercial registry electronically. In order to ensure the quality of information and data, the project introduced a requirement for annual confirmation of data and documents registered in the commercial registry, instead of the practice followed in renewing the registry. The project has organized the provisions for delisting from the commercial registry and the competencies of the competent department to ensure that the project achieves its objectives. The project also includes defining the powers and duties of the control personnel and determining the penalties to be imposed on the violator for violating the provisions of the law.
Last Modified Date: 14/07/2021 - 11:48 PM Saudi Arabia Time