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Alhurriya News – Saudi News: Conditions for transferring the ownership of the commercial register through the Ministry of Trade portal and an important clarification regarding zakat dues

The article Conditions for transferring ownership of the commercial register through the Ministry of Commerce portal and an important clarification regarding zakat dues appeared first on Thaqafni.

Many owners of companies and establishments in the Kingdom of Saudi Arabia wonder about how to transfer the ownership of the commercial register to the institution and the conditions required to be met when transferring ownership, especially in light of the current conditions that work offices suffer, whether in the public or private sector, and the tendency of most government agencies to work remotely through various electronic platforms To reduce congestion in order to stop the spread of the Corona pandemic, and the commercial register is one of the important procedures that all merchants and facility owners must register with by filling in the data of the facility or institution to ensure protection and avoid any problem.

The Ministry of Commerce reveals the conditions for transferring ownership of the commercial registry

Transfer of ownership of the commercial registry

The official account of the Ministry of Commerce on “Twitter” clarified the conditions that must be met, in response to a question by a follower who inquired about conditions and how to transfer the institution or the commercial register in the name of another person.

The account answered that the ownership of the commercial register can be transferred to the institutions Individual Through the website of the Ministry of Commerce and this procedure requires:

  1. Certificate of commitment by Social Insurance.
  2. The trade name of the record should not be in a personal name.
  3. The age of the new owner must not be less than 18 years.

It should be noted that the ownership of the record cannot be transferred if it is related to the name of the owner or the trade name is a “personal name”, and in this case a request must be submitted to amend the trade name to a special or proposed trade name, and then submit a request for transfer of ownership. The “Customer Care” account on Twitter stated that after the transfer of ownership of the record in the Ministry of Commerce, the previous owner transfers the facility file in the Ministry of Human Resources to “under procedure”, after which the new owner starts opening a new file, and the labor will be transferred automatically without fees.

How to electronically transfer the ownership of the commercial register

  1. Go to the login page on the Ministry of Commerce website.
  2. Enter the required information (username, password). Or register via the unified national access portal.
  3. Select “My Commercial Records”, then open the options menu in front of “Commercial Registry.”
  4. Select the “Transfer of Commercial Registry Ownership” icon.
  5. Fill in all the required data and attach the “assignment contract”, provided that the contract includes the commercial registry number and the parties concerned, in addition to attaching the “pledge contract”.
  6. Click on the “Submit Request” icon.

The fees for transferring the ownership of the commercial register are estimated at 100 riyals through the SADAD service, and upon the arrival of the paid amount, the commercial register is printed electronically to fully benefit from the service, without the need to go to the work offices of the ministry.

In the event that the completion of the service fails, and the inability to transfer ownership electronically, customers can go to the branches of the Ministry of Commerce in the Kingdom during the official working hours starting from Sunday to Thursday from 7:30 in the morning until 2:30 in the evening.

On the other hand, one of the customers inquired about the procedure supposed to be taken to cancel or reduce the value of the Zakat due from the establishment in the event that it is not practicing its activity. The “Customer Care” account replied that everyone who has commercial records or licenses is subject toZakat collection, According to the regulation until the commercial register is canceled or transferred, the license is canceled or transferred, confirming that there is no reduction of the Zakat dues, and an installment plan for the amounts due for Zakat can be requested through the General Authority for Zakat and Income by choosing the icon (Request Installment Plan) from the Zakat Department And income tax.

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The article Conditions for transferring ownership of the commercial register through the Ministry of Commerce portal and an important clarification regarding zakat dues appeared first on Thaqafni.


Source: الحرية نيوز by alhoreyanews.com.

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