Article (7)
Effective from Jan 31 2025 - Nov 04 2011
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The license term is five years, renewable according to the conditions and procedures applicable upon such a renewal. SAMA will charge a one-time off fee upon issuance of the license amounting to 1% of the company's paid up capital, and another fee amounting to 0.5% of the company's paid up capital upon renewal of the license. Renewal application shall be submitted at least 6 months prior to the license expiry date.