Public Prosecution has warned citizens and foreigners involved in covering up trade in Saudi Arabia that trade matters should be rectified within the given time frame.
According to Lesson News, the prosecution's official Twitter account said that those involved in commercial cover-up should take advantage of the deadline to come to justice and rectify their case.
The warning note further said that after the expiry of the deadline given by the Ministry of Commerce, strict legal action would be taken against those who were found involved in it.
It should be noted that foreigners residing on all types of work visas in Saudi Arabia, except for investment visas, are not allowed to do business with Saudi citizens in any way.It is illegal to do business in the name of Saudi citizens against which strict legislation has been enactedThe business of foreigners is called 'trade cover'; the government had earlier this year given a six-month respite to remove the trade cover, stating that those who Get involved and get things right without punishment
It has been further extended before the expiry of the given deadline so that more and more people can benefit from the deadline. The deadline for extension is 16 February 2022 after which the investigation teams will be active.
According to the law, those who are arrested after the deadline will be fined 5 million riyals and sentenced to 5 years in prison.The Ministry of Commerce has also indicated that it will provide protection and rewards to those who provide information about people involved in commercial cover-ups, according to which such persons who have certified the relevant team of the Ministry about the persons involved in trade cover-up. They will provide information and they will be given 30% of the fine received as reward which is 5 million riyals
