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  • Chapter Three: Registration Documents

    • Article Ten

      1.Pursuant to the provisions of Article (22) of the regulations, the following documents are considered proof of ownership of the leased asset:
        (a)Real estate ownership deed.
        (b)Document of ownership of the asset.
        (c)Customs card.
        (d)Intellectual property registration certificate.
        (e)Purchase receipt.
      2.The institution may approve other official documents as proof of ownership or specify additional requirements for proving ownership. The company must announce the institution's decision in this regard.

    • Article Eleven

      1. Registration for identity verification is based on the data from the national identity card, the resident identity card, and commercial registry data or its equivalent for legal entities.
      2. The registration of the registered right and similar assets is based on the proof of ownership document in accordance with Article (Ten) of the controls, The ownership document must be stamped to indicate the rights arising from the registered contract and the registration of ownership rights. Necessary measures must be taken for documents that cannot be stamped, such as property ownership deeds. The company may use electronic means for this purpose.
      3. The company may use electronic means for registering contracts and other services, subject to obtaining SAMA’s approval.

    • Article Twelve

      The holder of the ownership document is prohibited from disposing of the registered right in a manner that contravenes the provisions of the registered contract according to these regulations. Interested parties may file a criminal or civil lawsuit as appropriate and must notify the relevant registrar. In such cases, the registrar must inform one or more licensed credit data service providers, in accordance with the Credit Data Law, to include the information in the credit registry of the ownership document holder.