Saudi Arabia conducts awareness campaign against illegal proxy institutions
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Saudi Arabia launches an awareness campaign focusing on those involved in the benami activities in the Kingdom. The Saudi Ministry of Commerce urged expatriates and foreign institutions through its special campaign to use the extended period for legalising benami ventures.
Pamphlets and posters distributed in five different languages explicate the measures to legalise the current status. Transferring rightful ownership of institutions to expatriates and getting into partnership with a Saudi native in ownership can also be done by undertaking a legal status. The extended deadline ends on August 23, the Ministry stated.
As part of the Saudi Vision 2030, the Ministry of Commerce has been developing and implementing policies to ensure the sustainability of the commerce and investment sectors in the Kingdom. The Ministry is working to strengthen Saudi Arabia's economic position as a global trade destination.