According to new regulations expected to be implemented in the coming months, businesses in Saudi Arabia will need to register their various Saudi-based branches under a single registration, eliminating the current practice of having separate city- or region-based registrations. Once the new rules are in effect, existing businesses with multiple branches will have five years to comply. Businesses will also have to electronically confirm their registration information annually from the date of issuance. These changes seek to reduce business registration-associated costs and complexity, while also making it easier to track compliance and increase transparency around transactions. It is unclear if listing multiple commercial operations under a single registration will affect a business’s Saudization requirements, including if such a process will result in changed quota numbers.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
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