{"id":17982,"date":"2024-06-24T05:53:42","date_gmt":"2024-06-24T05:53:42","guid":{"rendered":"https:\/\/www.creationbc.com\/?page_id=17982"},"modified":"2024-06-25T12:18:35","modified_gmt":"2024-06-25T12:18:35","slug":"anti-concealment-law","status":"publish","type":"page","link":"https:\/\/www.creationbc.com\/en-sa\/corporate-laws-and-legislation\/anti-concealment-law\/","title":{"rendered":"Anti-Concealment Law"},"content":{"rendered":"<p>[vc_row full_width=&#8221;stretch_row&#8221; content_placement=&#8221;bottom&#8221; css=&#8221;.vc_custom_1709591093076{margin-top: 75px !important;padding-top: 75px !important;padding-bottom: 131px !important;padding-left: 95px !important;background-image: url(https:\/\/www.creationbc.com\/wp-content\/uploads\/2024\/03\/saudi-new-companies-law.jpg?id=15343) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221; el_class=&#8221;free-zone-header&#8221;][vc_column][vc_custom_heading text=&#8221;ANTI-CONCEALMENT LAW&#8221; font_container=&#8221;tag:h1|font_size:40px|text_align:left|color:%23f3d58e&#8221; use_theme_fonts=&#8221;yes&#8221; css_animation=&#8221;fadeInLeft&#8221; css=&#8221;.vc_custom_1719207220052{margin-top: 30px !important;padding-top: 20px !important;padding-right: 20px !important;padding-bottom: 20px !important;padding-left: 20px !important;}&#8221;][\/vc_column][\/vc_row][vc_row content_placement=&#8221;middle&#8221; css=&#8221;.vc_custom_1600594414157{padding-top: 70px !important;padding-bottom: 70px !important;}&#8221;][vc_column width=&#8221;1\/2&#8243; css=&#8221;.vc_custom_1600815609935{padding-top: 0px !important;}&#8221; el_class=&#8221;about-us-left&#8221;][vc_custom_heading text=&#8221;ANTI-CONCEALMENT LAW&#8221; font_container=&#8221;tag:h2|font_size:36px|text_align:center|color:%230f0d12|line_height:50px&#8221; use_theme_fonts=&#8221;yes&#8221; css_animation=&#8221;fadeInLeft&#8221; css=&#8221;.vc_custom_1719207224314{margin-bottom: 30px !important;}&#8221;][vc_btn title=&#8221;DOWNLOAD ANTI-CONCEALMENT LAW&#8221; style=&#8221;3d&#8221; align=&#8221;center&#8221; i_align=&#8221;right&#8221; i_type=&#8221;typicons&#8221; i_icon_typicons=&#8221;typcn typcn-chevron-right&#8221; css_animation=&#8221;fadeInLeft&#8221; add_icon=&#8221;true&#8221; link=&#8221;url:%23download-anti-concealment-law&#8221;][\/vc_column][vc_column width=&#8221;1\/2&#8243; el_class=&#8221;about-us-right&#8221; css=&#8221;.vc_custom_1600615244962{padding-top: 0px !important;}&#8221;][vc_column_text css_animation=&#8221;fadeInRight&#8221;]<\/p>\n<p style=\"text-align: justify;\">The Anti-Concealment Law, <span style=\"font-weight: 400;\">within the framework of<\/span><a href=\"https:\/\/www.creationbc.com\/en-sa\/corporate-laws-and-legislation\/\"> <span style=\"font-weight: 400;\">Saudi Arabia&#8217;s Corporate Laws &amp; legislations<\/span><\/a><span style=\"font-weight: 400;\">, <\/span>aims to combat illegal practices of concealing true ownership in commercial activities. It establishes regulations to promote transparency and fairness in business transactions and prevent fraud and tax evasion.<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<h2><b>HIGHLIGHTS OF THE ANTI-CONCEALMENT LAW:\u00a0<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The law prohibits individuals or entities from concealing the true ownership of businesses or properties to evade legal obligations or deceive authorities.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It imposes severe penalties, including fines and imprisonment, for violations of the law. Enforcement measures are implemented to ensure compliance and deter fraudulent activities.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The law mandates transparency in commercial dealings, requiring disclosure of accurate ownership information and financial transactions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Regulatory authorities are empowered to monitor and investigate businesses suspected of engaging in concealment practices, with the authority to impose sanctions and penalties.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">By discouraging unfair business practices and promoting transparency, the law aims to create a level playing field for businesses and protect the interests of consumers and stakeholders.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><b>ISSUER OF THE ANTI-CONCEALMENT LAW IN SAUDI ARABIA:<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Anti-Concealment Law in Saudi Arabia is typically issued by the <\/span><a href=\"https:\/\/mc.gov.sa\/en\/Pages\/default.aspx\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Ministry of Commerce<\/span><\/a><span style=\"font-weight: 400;\">, in collaboration with other relevant governmental bodies responsible for regulating commercial activities and enforcing legal compliance.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>WHO IS SUBJECT TO ANTI-CONCEALMENT LAW IN SAUDI ARABIA?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">All individuals, companies, and entities engaged in commercial activities within Saudi Arabia are subject to the provisions of the Anti-Concealment Law. This includes business owners, investors, contractors, and any other parties involved in transactions where ownership disclosure is required by law.<\/span>[\/vc_column_text][vc_empty_space el_class=&#8221;no-mobile&#8221;][\/vc_column][\/vc_row][vc_row el_id=&#8221;download-anti-concealment-law&#8221;][vc_column][vc_row_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_custom_heading text=&#8221;DOWNLOAD ANTI-CONCEALMENT<br \/>\nLAW&#8221; font_container=&#8221;tag:h3|font_size:15px|text_align:center&#8221; use_theme_fonts=&#8221;yes&#8221;][\/vc_column_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_custom_heading text=&#8221;DOWNLOAD ANTI-CONCEALMENT<br \/>\nLAW&#8221; font_container=&#8221;tag:h3|font_size:15px|text_align:center&#8221; use_theme_fonts=&#8221;yes&#8221;][\/vc_column_inner][\/vc_row_inner][vc_row_inner css=&#8221;.vc_custom_1706220877476{margin-top: -35px !important;margin-bottom: -35px !important;}&#8221;][vc_column_inner width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<p style=\"text-align: center;\">ENGLISH<\/p>\n<p>[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<p style=\"text-align: center;\">ARABIC<\/p>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner css=&#8221;.vc_custom_1706220325719{margin-right: 150px !important;margin-left: 150px !important;}&#8221;][vc_column_inner width=&#8221;1\/3&#8243;]\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f17991-o1\" lang=\"ae\" dir=\"ltr\" data-wpcf7-id=\"17991\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/en-sa\/wp-json\/wp\/v2\/pages\/17982#wpcf7-f17991-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<fieldset class=\"hidden-fields-container\"><input type=\"hidden\" name=\"_wpcf7\" value=\"17991\" \/><input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.1.5\" \/><input type=\"hidden\" name=\"_wpcf7_locale\" value=\"ae\" \/><input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f17991-o1\" \/><input type=\"hidden\" name=\"_wpcf7_container_post\" value=\"0\" \/><input type=\"hidden\" name=\"_wpcf7_posted_data_hash\" value=\"\" \/><input type=\"hidden\" name=\"_wpcf7dtx_version\" value=\"5.0.5\" \/>\n<\/fieldset>\n<div class=\"oneDiv fzFN\">\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-name\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"First Name\" value=\"\" type=\"text\" name=\"your-name\" \/><\/span>\n\t<\/p>\n<\/div>\n<div class=\"oneDiv fzLN\">\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"last-name\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Last Name\" value=\"\" type=\"text\" name=\"last-name\" \/><\/span>\n\t<\/p>\n<\/div>\n<div class=\"oneDiv\">\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-email\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-email wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-email\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Email\" value=\"\" type=\"email\" name=\"your-email\" \/><\/span>\n\t<\/p>\n<\/div>\n<div class=\"allHidden\">\n<span class=\"wpcf7-form-control-wrap LeadSourceWeb\" data-name=\"LeadSourceWeb\"><input type=\"hidden\" name=\"LeadSourceWeb\" class=\"wpcf7-form-control wpcf7-hidden wpcf7dtx wpcf7dtx-hidden\" aria-invalid=\"false\" value=\"Law Page\"><\/span>\n<span class=\"wpcf7-form-control-wrap LeadStatus\" data-name=\"LeadStatus\"><input type=\"hidden\" name=\"LeadStatus\" class=\"wpcf7-form-control wpcf7-hidden wpcf7dtx wpcf7dtx-hidden\" aria-invalid=\"false\" value=\"Not Contacted\"><\/span>\n<span class=\"wpcf7-form-control-wrap CompanyName\" data-name=\"CompanyName\"><input type=\"hidden\" name=\"CompanyName\" class=\"wpcf7-form-control wpcf7-hidden wpcf7dtx wpcf7dtx-hidden\" aria-invalid=\"false\" value=\"New Company\"><\/span>\n<span class=\"wpcf7-form-control-wrap CurrentStatus\" data-name=\"CurrentStatus\"><input type=\"hidden\" name=\"CurrentStatus\" class=\"wpcf7-form-control wpcf7-hidden wpcf7dtx wpcf7dtx-hidden\" aria-invalid=\"false\" value=\"Inactive\"><\/span>\n<span class=\"wpcf7-form-control-wrap ReferralURL\" data-name=\"ReferralURL\"><input type=\"hidden\" name=\"ReferralURL\" class=\"wpcf7-form-control wpcf7-hidden wpcf7dtx wpcf7dtx-hidden\" aria-invalid=\"false\" value=\"PageURL\"><\/span>\n<\/div>\n<div class=\"submitForm\">\n\t<p><span id=\"wpcf7-69d4a90c76874-wrapper\" class=\"wpcf7-form-control-wrap first-name-wrap\" style=\"display:none !important; 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}, 100); });<\/script> <br class=\"cf-turnstile-br cf-turnstile-br-cf7-3449302035\"> <style>#cf-turnstile-cf7-3449302035 { margin-left: -15px; }<\/style> <script>document.addEventListener(\"DOMContentLoaded\",function(){document.querySelectorAll('.wpcf7-form').forEach(function(e){e.addEventListener('submit',function(){if(document.getElementById('cf-turnstile-cf7-3449302035')){setTimeout(function(){turnstile.reset('#cf-turnstile-cf7-3449302035');},1000)}})})});<\/script> <\/div><br\/><input class=\"wpcf7-form-control wpcf7-submit has-spinner\" type=\"submit\" value=\"DOWNLOAD\" \/>\n\t<\/p>\n<\/div><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n[\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading text=&#8221;RELATED SAUDI FINANCIAL CRIMES LAWS<br \/>\n&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; use_theme_fonts=&#8221;yes&#8221; css=&#8221;.vc_custom_1719317853611{padding-bottom: 5px !important;}&#8221;][vc_row_inner][vc_column_inner][vc_column_text]<\/p>\n<ul>\n<li><a href=\"\/en-sa\/corporate-laws-and-legislation\/anti-money-laundering-law\/\">Anti-Money Laundering Law (AML)<\/a>.<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_empty_space el_class=&#8221;no-mobile&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<p>&nbsp;<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row full_width=&#8221;stretch_row&#8221; 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