Ministry of Commerce temporarily suspends licenses of 2,000 companies until fees are paid

The Ministry of Commerce and Industry issued notices today to owners of companies whose licenses were suspended, affecting approximately 2,000 firms, for failing to pay and settle the fees owed to the ministry for company amendment transactions.

Sources told Al-Jarida that the ministry’s action is temporary until the fees are paid. In its suspension notices to single-owner companies, the ministry specified that lifting the suspension requires settling the outstanding fees and completing the procedures related to the company. It noted that most of the unpaid fees were related to the partner exit and entry clause.

This step comes as part of the ministry’s efforts to regulate the business environment, audit commercial records, finalize their completion, and ensure that all companies comply with applicable regulations.

Sources confirmed that the ministry is proceeding with implementing the electronic linkage mechanism among its various sectors. They also advised company and establishment owners to promptly review their electronic services and settle their financial and documentary status to avoid the permanent cancellation of licenses.

The Ministry of Commerce offers several fee-based services, including issuing permanent or temporary licenses for sole proprietorships, renewing licenses, changing addresses, changing trade names, amending management clauses, amending or adding commercial addresses, adding licensed activities, removing activities from licenses, adding activities to the company contract, removing activities from the company contract, changing the activity in the company contract, changing the commercial license activity, increasing or decreasing capital, amending shares, partner entry and exit, company dissolution and liquidation, changing the company’s legal entity, requesting certified copies of company management documents, requesting printed extracts or certificates, and reissuing licenses in accordance with decisions of the Situation Amendment Committee.