Licensing

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Licensing Definition

The Bankruptcy Commission licenses bankruptcy officeholders and experts under its jurisdiction under paragraph (2b) of Article (9) of the Bankruptcy Law issued by Royal Decree No. (M/50) and dated 1439/5/28 A.H, According to Code of Licensing the Officeholders and Experts issued by the Commission's decision No. (12/0219) on 11/09/1440A.H, it is prohibited to carry out the work of officeholders and experts until obtaining a license. Click here to view the Code of Licensing the Officeholders and Experts)​​


Rules for Obtaining an Officeholder License

 Paragraph (1) of Article (3) under “Code of Licensing the Officeholders and Experts" issued by Bankruptcy Commission decree, No (0219/12) dated 1440/09/ 11  A.H. stipulated that in order to license an individual with a natural personality to exercise officeholder duties, the following is required: 
A-    Must be Saudi.
B-     Must be fully competent.
C-     Must be of good conduct and has no convictions for any offense against honor or breach of trust, unless he has been exonerated.
D-    Upon submission of the application, he must have a license to practice any of the following in Saudi Arabia:

1.Accounting.

2.Legal.

3.Any other related fields, as determined by the Bankruptcy Commission

E-     Must not be suspended from practicing any of the professions provided for under paragraph (1/H) of this article, whether upon the submission of the application or during the past year.
F-     Must have at least five years of field experience, as well as at least one year of experience after getting the license.
G-    Must meet the professional qualification required by the Bankruptcy Commission click here to view professional qualification requirements.
H-     Must pay licensing fees estimated by (2000) Saudi Riyals for (3) years.




Rules for Obtaining an Expert License

Article (3) under “Code of Licensing the Officeholders and Experts" issued by Bankruptcy Commission the ​decree, No (0219/12) dated 11/09/1440 A.H. stipulated that in order to license an individual with a natural personality to practice expert's work, the following is required: ​

A- Must be Saudi.

B- Must be fully competent.

C- Must be of good conduct and has no convictions for any offense against honor or breach of trust, unless he has been exonerated.

D- Must pay licensing fees estimated by (1000) Saudi Riyals for (3) years.

E- Upon submission of the application, he must have a valid license in Saudi Arabia to practice his profession.

F- Must not be suspended from practicing his profession, whether upon submitting the license application or during the past year thereof.

G- Must meet the professional qualification required by the Bankruptcy​​​ Commission, click here to view professional qualification requirement.

H- Must have at least five years of field experience, as well as one year of experience after getting the license. The approved fields are: 

1- Lawyer

2-Accountant

3- Evaluation

4- Consultant

5- Architecture