Ministry of Commerce Clarifies Procedures for Transferring Ownership of a C …

"On 14/08/2025, the Ministry of Commerce clarified procedures for transferring ownership of an existing commercial registration for a sole proprietorship. The process involves verifying obligations attached to the registration and completing formal documentation electronically via Absher platform. Both parties must also notify relevant authorities, including the Zakat, Tax and Customs Authority and the Chambers of Commerce, to ensure a smooth transfer and prevent unforeseen liabilities."