303 firms register in e-services program within 24 hours

RIYADH: Following the launch of an electronic service, dubbed “Establish your company,” the Ministry of Commerce and Investment has issued electronic commercial registrations to 303 companies within 24 hours.
According to an official from the Ministry of Commerce and Investment, the government has exerted great efforts to facilitate e-government services for the convenience of the people which has also greatly reduced the paperwork in all departments.
The ministry’s services to the companies are witnessing a rapid rise in the number of electronic establishment requests that had been received since the launch of this campaign. It aims to introduce contracts and services through www.com.cr.sa within the e-portal service, www.aamal.sa. The ministry also urged investors and companies under formation to benefit from the online services to complete the procedures for founding their companies.
The new process is easy and has only three steps to follow: Apply electronically, notarize the contract and pay the unified bill through available electronic services, bank mobile applications or ATMs.
The official said the Ministry of Commerce and Investment will continue to improve its procedures on a regular basis and ensure ease, efficiency and effectiveness of electronic services for companies.
This will improve the investment environment in the Kingdom as part of Vision 2030 and the National Transformation Program 2020, and will also enhance competitiveness in facilitating trade and business for investors, he noted.
The notary visitation to authenticate the contract is no longer mandatory but optional and can be accomplished electronically under the company’s partners. Also, the partners in limited liability companies will be able to establish the company and issue the commercial registration electronically after depositing the capital in any bank within 90 days from the issuance of the electronic commercial registration.