Saudi Arabia cancels bank guarantee for vehicle sales

01/11/2025 Argaam

The General Directorate of Traffic announced an amendment to the executive regulations of the Traffic Law, removing the clause that required a bank guarantee as one of the conditions for opening vehicle sales businesses, whether agencies, showrooms, or auctions.

 

The move aims to support and stimulate investment in the vehicle sales sector.

 

The deleted clause had previously required a bank guarantee of SAR 200,000 to open vehicle showrooms, agencies, and sales centers.

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