MOCI: Companies' Establishment, Renewal Services are Available Online Only

MOCI: Companies' Establishment, Renewal Services are Available Online Only

The Ministry of Commerce and Industry (MOCI) said that it has been decided to provide the comprehensive establishment and renewal services only via the "Single Window" platform, pointing out that individuals following up on these services will no longer be received at the MOCI headquarters and its branches

The ministry said that this step comes in line with precautionary measures to limit the spread of the Coronavirus (COVID-19) and as part of its efforts to facilitate and shorten procedures for establishing companies and renewing commercial records and licenses.

The comprehensive establishment service includes the reservation of the trade name upon incorporation, issuance of the commercial register, trade license, professional licenses, and subsidiary licenses of all kinds. The comprehensive renewal service includes all commercial records and licenses without being restricted to the condition that they expire within 60 days.

The MOCI indicated the Single Window advantages include renewal from one to five years, and renewal can also be done without being restricted to the condition that commercial records and licenses should expire within 60 days, in addition to obtaining the required governmental or external approvals electronically, with the electronic signature of the establishment contracts. (QNA)