Non-resident and Non-Banking Commercial Companies and Institutions Leased in the Depository Areas in the Kingdom
No: 42019124
Date(g): 9/11/2020 | Date(h): 24/3/1442
Effective from 2020-11-09 - Nov 08 2020 To view other versions open the versions tab on the right
116.
DTFCs can open General Accounts for companies and institutions authorized to sell and re-export in the depository areas in the local ports in the Kingdom, whether leasing directly from the General Authority for Ports or through the owners of lease concession contracts, for the duration of the lease contract after obtain/meeting the following documents/requirements:
i.
A copy of a lease contract in the deposit area certified by the Chamber of Commerce and Industry and the Port Administration.
ii.
A copy of the commercial register of the leased establishment issued in the country of origin and certified by the Saudi Embassy with a clear address of the establishment.
iii.
Recommendation from a bank in the country of origin of the leased company or institution.
iv.
The list of persons authorized to manage the accounts of the leased establishment with copies of residency permits.
v.
DTFCs shall close the account immediately unless lease period is extended. In case of extension, DTFCs must obtain a copy of the lease period extension.
