The Ministry of Trade and Investment has canceled reviewing the contracts related to establishing companies. The old procedures are replaced with electronic work that are carried out through the Corporate System automatically. Therefore, setting up companies is now easier and faster. This procedure comes within the stages of facilitating the start of business in the Kingdom, so that the process of setting up companies becomes automatically, without the need to wait for the approval of the Ministry.
MCI explained that the new procedure would enable the clients of establishing their companies through the service of Rapid E-Contract. They can add the needed details on the contracts, then the approved is done online immediately through the Ministry’s portal or “Meras” portal.
Notably, the approval on the companies contracts were carried out after being reviewed by specialists in the Ministry. This would require a great effort and time, but now it is done online immediately.
MCI added that it has been currently working to expand the scope of electronic solutions to be more integrated and to include all the trade activities that require approvals or licenses from the government agencies, to include also the contracts that need amendment and other services for the companies.
MCI would like to affirm its keenness and endeavor to improve the business environment, empower enterprises and provide an attractive environment for investment, which positively affects the investors’ business in the Kingdom, thus contribute to the realization of the Kingdom’s Vision 2030.
MCI calls on the individuals and companies, wishing to start up their business, to avail of the e-service for making contracts and setting up the companies by having access to the Ministry's portal (
mci.gov.sa) or through “Meras” portal (
meras.gov.sa)