The Ministry of Commerce Announces the Cancellation of Licensing Requirement for Debt Collection Activity

31 Dec 2020

In order to facilitate and ease practicing business, the Ministry of Commerce has allowed issuing the Commercial Registrations for practicing the activity of collecting debts for individuals without the requirement or condition of obtaining a license for that.

The Ministry of Commerce explained that the cancellation of the licensing requirement for debt collection activity comes within the Ministry’s efforts to facilitate and ease practicing business, also to reduce the procedures and requirements relevant to such activity, as well as to improve the business and economic environment in the Kingdom, and to upgrade it in accordance with the international best practices, besides realizing the goals of the Kingdom's Vision 2030.

The Ministry of Commerce calls on the investors, who want to get a Commercial Registration for debt collection, to have access to the following link: Click here​

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Last Modified 01 Jan 2021