The fifth of the current Shawwal month is a significant day in the world of commerce as the new commercial registry and trade names systems come into effect. The Ministry of Commerce’s official spokesperson, Abdulrahman Al-Hussein, emphasized that the new commercial registry system has undergone significant changes, including the elimination of subsidiary records for traders and the implementation of a single registry. Additionally, there is no longer a specified city for the commercial registry, as it now covers all regions of the Kingdom.
It is worth noting that there is no longer an expiration date for the commercial registry, and traders only need to provide annual confirmation of the data recorded in the registry. The commercial registry number will be the unified number for the establishment, starting with the number 7. Existing subsidiary records have been granted a five-year period to rectify their status.
Regarding the new trade names system, the spokesperson explained that it allows for reserving and registering a trade name in English and may include letters or numbers, unlike the previous system which was limited to Arabic without letters or numbers. The new trade names system also allows for the independent ownership and transfer of trade names to other traders. Furthermore, it prohibits registering a name identical or similar to an establishment’s name even if the activities differ.
Al-Hussein highlighted the regulations included in the new trade names system for reserving family names as trade names and the criteria for prohibited or misleading names.
