Riyadh– The National Anti-Concealment Program announced that there will be no extension of the grace period offered to violators of the anti-concealment law, which expires by the end of Wednesday, February 16, 2022.

The program urged all violators of the anti-concealment law to rectify their status, especially establishments with annual revenues of “SR2 million” to take advantage of the grace period and avoid the application of deterrent statutory penalties which amount to up to five years imprisonment and a fine of SRfive million.

The program noted that it will continue to receive correction requests until the end of the deadline through the website of the Ministry of Commerce: mc.gov.sa and violators can benefit from the correction options specified in the regulation for correcting status, which include: (partnership in the facility between Saudi and non-Saudi, registration of the facility under a non-Saudi name, the continuation of a Saudi in practicing the activity by introducing a new partner in the facility, the Saudi’s disposal of the facility, the non-Saudi obtaining the premium residency, the non-Saudi leaving the Kingdom).

Source: Saudi Press Agency