Based on the principle of transparency and participation, the Ministry of Commerce and Investment invites those interested and the public to express their views, opinions and suggestions on the amendment of Article 14 of the Implementing Regulations of the Chambers of Commerce and Industry, relative to the fees of the Chambers of Commerce subscription, issued by the Royal Decree No. (M / 6) dated 30/4/1400 AH.
The Ministry pointed out that the amendments related to the fees of the Chambers of Commerce and Industry Subscription had taken into account the number of manpower and the capital of each establishment or company. Notably the classification previously had been depending on the quality of the activity of each establishment. The Ministry indicated that the fees will be free during the first year. Then the subscription fee will be calculated according to the new amendments.
This comes in line with the Ministry's desire to review and develop its Rules & Regulations to meet the current and future needs, as well as to match the local environment and to be in conformity with the best comparative and regulatory practices.
According to the new amendments to Article XIV of the Regulation, the fees for Chambers of Commerce subscription are divided into 5 categories. First the Establishment, with 500 workers and up, and whose capital is less than one million riyal, will pay SR 10.000.
Second the Establishment, with 21 to 499 workers, and whose capital is less than one million riyal, will pay SR 2500, and SR 3,000 for the establishment whose capital exceeds one million riyal.
The third category is SR 1500 for the commercial establishment with 5 to 20 workers and whose capital is less than one million riyals, while the establishment with a capital exceeding one million riyals will pay SR 2,000.
In respect of the establishment with fewer than 5 workers and whose capital is less than one million riyals, the subscription fee will be 1000 riyals, and those whose capitals exceed one million riyals, will pay 1500 riyals.
It is worth mentioning that the fees of the Chambers of Commerce subscriptions, before the amendment of Article 14, were divided into 5 categories according to the participants, where the premium category was set at 10.000 Riyals for various types of traders and manufacturers. The first category was set at 5000 Riyals for joint stock companies, exchange companies, banks and limited liability companies, whose capitals are not less than five million riyals, in addition to the contractors classified as first class.
The second class fee was SR 2,000 for both general and limited partnership companies with limited liability, whose capitals are less than SR 5 million, besides the second class contractors. The third class fee was SR 800 for contractors classified at other classes, as well as real estate offices and trade agents. The fourth class fee was 300 riyals for other subscribers.
The Chamber of Commerce and Industry system is considered one of the main pillars of business growth and economic prosperity. Thus, the activation and updating the chambers of commerce regulations, in line with international best practices, and to be in harmony with the national economy, is a very important step towards enhancing the attractiveness and trust towards the local market, besides achieving the desired role towards the realization of the Kingdom’s Vision 2030 objectives.
MCI calls on those interested, concerned and the public to review the proposed amendment through the link (Click Here
), and to give their opinions and comments through the e-mail (firstname.lastname@example.org), not later than Thursday 15/05/1439 H corresponding to 01 / 02/2018 AD.