Total number of limited liability companies increase by 27% during the first quarter 2019

28-04-2019 Media in\ Riyadh
The Ministry of Trade and Investment revealed a 27% increase in the establishment of limited liability companies in the first quarter of 2019 compared to the fourth quarter of 2018. The total number of limited liability companies established during the first quarter of this year was 2,411, compared to 1,898 companies Founded in the fourth quarter of last year.

The five most prominent cities in the first quarter are Riyadh, Jeddah, Dammam, Al Khobar and Makkah. The company said it has implemented a number of reforms and improvements. 30 minutes, cancellation of the requirement of capital deposit upon establishment of companies, cancellation of the requirement of prior approvals for the production of the Commercial Register, and cancellation of the Ministry’s study of the contracts of establishment of limited liability companies.

The Ministry of Commerce and Investment amended the Commercial Registration and Companies Regulations and abolished the requirement to issue a sub-commercial register for the same activity and the same administrative area, and enabled the boards of directors of closed shareholding companies without the prior approval of the Ministry.

The ministry has expanded its customer service centers, which serve the concept of a comprehensive employee, and increased the electronic services that can be completed without reviewing the ministry or its branches. All the starters were connected to the Maras platform, which provides more than 112 electronic services provided by 21 government agencies.