Arabic
The Council of Ministers,
after perusal of the Royal Court File 74905 dated 16 Shawwal 1445 [25 April 2024], which includes the Minster of Commerce Letter 4277, dated 9 Safar 1443 [17 September 2021], regarding the drafts of the Commercial Register Law and the Trade Names Law,
after perusal of the aforementioned draft of the Commercial Register Law,
after perusal of the aforementioned draft of the Trade Names Law,
after perusal of the Commercial Register Law, issued by Royal Decree D/1 dated 21 Safar 1416 [20 July 1995],
after perusal of the Trade Names Law, issued by Royal Decree D/15 dated 12 Sha’ban 1420 [21 November 1999],
after perusal of the System of the Saudi Center for Economic Affairs, issued by Council of Ministers Decision 456 dated 11 Sha’ban 1440 [17 April 2019],
after perusal of Royal Order 39929 dated 28 Jumada Al-Thani 1443 [1 February 2022],
after perusal of the Bureau of Experts at the Council of Ministers Memorandums 1647 dated 9 Jumada Al-Awwal 1445 [22 November 2023], 2114 dated 12 Jumada Al-Thani 1445 [25 December 2023], 3949 dated 19 Dhu Al-Qa’dah 1445 [27 May 2024], and 775 dated 2 Rabi Al-Awwal 1446 [6 September 2024],
after perusal of the Council of Economic and Development Affairs Recommendation 1-8/45/R dated 15 Jumada Al-Thani 1445 [28 December 2023],
after considering Shura Council Decision 265/25 dated 13 Shawwal 1445 [22 April 2024],
and after perusal of the General Committee of the Council of Ministers Recommendation 2508 dated 13 Rabi Al-Awwal 1446 [17 September 2024],
hereby decides
First
The Commercial Register Law is hereby approved in the form attached.
Second
The Trade Names Law is hereby approved in the form attached.
Third
Those registered in the Commercial Register are granted a grace period of five years starting from the effective date of the law referred to in clause First of this decision, to rectify the status of their sub-commercial registrations. All their sub-registrations must be deleted at the end of such grace period, according to a mechanism determined by the Ministry of Commerce.
Fourth
The provisions of the law—referred to in clause Second of this decision—do not prejudice trade names registered prior to its entry into force, as determined by the Ministry of Commerce.
A draft royal decree has been prepared in the form attached.
Fifth
The financial consideration—mentioned in article 27 of the law referred to in clause First of this decision and in article 21 of the law referred to in clause Second of this decision—must be determined in agreement with the Ministry of Finance and the Non-Oil Revenue Development Center, until the Central Committee for Fees and Financial Considerations formed based on Royal Court Telegram 83347 dated 2 Dhu Al-Hijja 1444 [21 June 2023] begins its work.
Sixth
The Ministry of Commerce shall take into account the provisions of Royal Order 39929 dated 28 Jumada Al-Thani 1443 [1 February 2022], when preparing the executive regulations for the law referred to in clause Second of this decision.
Seventh
The Saudi Center for Economic Business—in coordination with the Ministry of Commerce, the Ministry of Investment, and the Saudi Authority for Intellectual Property—shall consider the appropriateness of establishing a comprehensive and unified economic platform that suits all business sectors in the Kingdom, based on its competence referred to in article 4(2) of its system issued by Council of Ministers Decision 456 dated 11 Sha’ban 1440 [17 April 2019], and submit what is necessary.
The Prime Minister
Issued on: 14 Rabi Al-Awwal 1446
Corresponding to: 18 September 2024
Published in Umm Al-Qura 5050 issued on 4 October 2024.
