Saudi ministry launches corrective period for anti-concealment law

Saudi ministry launches corrective period for anti-concealment law

Another option is to continue practicing business activity by introducing a new partner “” a Saudi or licensed foreign investor “” and registering the change with the Ministry of Commerce.A Saudi violator can sell or waive a facility, while a non-Saudi violator can obtain the privileged iqama and complete a correction of status by taking advantage of the iqama benefits.A final option in the corrective period lets a non-Saudi leave the Kingdom permanently through a final exit visa after submitting a pledge to abandon previous business rights, and announcing this through the means specified by the Ministry within a period not exceeding 30 days.The new corrective regulations also state that an exemption from penalties will not include violators who were arrested before submitting a request to resolve their situation, or those who were referred to the Saudi Bureau of Investigation and Prosecution before submitting their request.The request to correct a business status will be reviewed to verify that it meets the necessary requirements, and the applicant will be informed of the result within 90 days. The Ministry can extend this period in the event that it is incomplete based on acceptable reasons and justifications.If a correction to an establishment's status