|
||||
|
     |
|
|
|
GRANT OF LICENSES TO FOREIGN
COMPANIES
|
The Ministerial Resolution No. 680 dated 9 Thul Qa’dah 1398 H. (January 1978) issued by the Minister of Commerce stipulates the following:
- Directors of foreign companies that enter into contract with Ministries and government agencies, or companies that receive sub-contracts from such companies with government approval, should request from the Ministry of Commerce, within 30 days of the date of signing the contract, a license to open an office in the Kingdom in order to undertake implementation of the works assigned to them, in accordance with such contracts.
- Branches and offices of foreign companies operating in the Kingdom should prepare a statement of their financial positions and activities annually showing, in particular, all works that have been completed and are under completion. Copies of these documents should be sent to the Companies Department, Ministry of Commerce within one month of their preparation.
- The said branches and offices should facilitate the task of the representatives of the Ministry to gain access to such documents, books, and registers and to provide data and information they require.
The Ministerial Order No. 1502 of 8 Rabi I 1400 H. (1980) stipulates terms and conditions governing a foreign company which enters into a contract with any government authority and which may be licensed to establish a representative office in the Kingdom to supervise its activities and to facilitate liaison with its head office.
For details, please contact Companies Department, Ministry of Commerce
|
|
|
Send E-mail to
TSN@The-Saudi.Net with questions or
comments about The Saudi Network.
We are Looking for Business Sponsorship or Marketing Partnership |
