The Ministry of Commerce has called on those wishing to transfer ownership of a commercial register to verify three essential steps before completing the procedure, in order to protect their rights and avoid any unexpected obligations.

The three steps are: ensuring the register is free of any existing claims or obligations, such as violations, fines, overdue fees, and lawsuits; verifying the legality of all licenses, requirements, and contracts related to the register; and documenting the transfer officially and electronically through the Saudi Business Center.

The Ministry stressed the need to complete the required procedures with the relevant authorities, including: the Ministry of Human Resources and Social Development, the Ministry of Municipalities and Housing, the Zakat, Tax and Customs Authority, and the General Organization for Social Insurance, in addition to the traffic authorities and banks.

These directives come within the framework of the Ministry's keenness to educate business owners about their rights and duties, and to ensure the integrity of commercial transactions in accordance with the regulations in force in the Kingdom of Saudi Arabia.