The Public Transport Authority, in cooperation with the Ministry of Commerce, stresses the importance of taking advantage of the corrective period for violators of the commercial cover-up system
As part of the joint efforts of the concerned authorities to combat commercial cover-up, the Asharqia Chamber, in cooperation with the Public Authority for Transport, the Ministry of Commerce, the Ministry of Investment, and the National Program to Combat Commercial Cover-up hosted a video-contact workshop, which was attended by representatives of relevant government agencies and stakeholders from the private sector, establishments, and individuals.
At the beginning of the workshop, Mr. Ibrahim Al-Mudaihim, Director General of Land Transport Development at the Public Transport Authority, explained that the authority, in terms of its regulatory and legislative role for transport activities in the Kingdom, stresses the importance of the corrective period for violators of the cover-up system in the transport sector, and calls for the importance of benefiting from it for those who have not initiated correction and treatment so far. Meanwhile, the Undersecretary of the Ministry of Commerce for Customer Service and Branches and the head of the corrective period for violators of the anti-commercial cover-up system, Eng. Ayed Al-Ghwaim stressed the importance of taking advantage of this period for all violators, as it provides them with better options for commercial activity in the Kingdom with better specifications, in an orderly manner away from any punitive measures.
This came during a workshop organized remotely by the Asharqia Chamber and moderated by the head of the Chamber’s Logistics Committee, Rakan Al-Otaishan. He explained that cover-up is a process of agreement or arrangement, through which a Saudi person enables another non-Saudi to engage in an unlicensed economic activity in the Kingdom. He may exercise it, using the license or approval issued to the concealed one, as this violates the regulations, including the anti-cover-up system, and the concerned government agencies represented by the Ministry of Commerce and the Ministry of Interior, in coordination with: A period of time to correct the situation of violators, which ends on August 21 next.
He said that the corrective period includes the two parties (the covert and the hidden), i.e. the Saudi and the non-Saudi, alone or both, as by entering into the process he gets an exemption from the penalties prescribed in the anti-covering system, the penalties for violating it, and the retroactive income tax payment. And then obtaining the legal licenses for investment, and enjoying all the rights stipulated in the relevant regulations, including the right of residence and movement, and then being able to conduct commercial activity regularly.
He added that there are options available to those wishing to correct the process, including the partnership in the facility between the two parties (Saudi and non-Saudi), or the introduction of a partner and continuation in the facility, or obtaining a privileged residence with its advantages, or disposing of the facility (transfer or dissolution of the facility). , or final exit and review the mechanism for correcting the situation represented in the request from the Ministry of Commerce through its website and providing the requirements, where the request is checked, the data is reviewed, and the selected option is selected in the correction process.
After the workshop, he concluded that several options are available to non-Saudi investors to work in the Saudi market that is better than covering up that violates the regulations, including obtaining a privileged residence that provides the opportunity to engage in commercial activity under the foreign investment system with advantages, including permanent residence with the family, and owning a property.
