Saudi Arabia and electronic commerce profits

 

Saudi Arabia and electronic commerce profits

In the past few years, e -commerce in Saudi Arabia has witnessed a remarkable increase as a result of the appropriate economic environment created by the Kingdom of Saudi Arabia and provided it with the possibilities of development and expansion.

 According to the ECCOMERECEB Foundation - which provides data and statistics on global e -commerce - the Kingdom of Saudi Arabia has ranked thirty among the largest e -commerce markets in the world with revenues of $ 9.9 billion in 2021, making it advanced on many major European countries. Moreover, Saudi Arabia is currently among the 10 largest countries in the world of e -commerce in the world, with a growth rate of more than 32 %.

     In this article, we will talk about everything you need to know about e -commerce in Saudi Arabia, including the conditions and legal requirements, tools, resources and steps that you can follow to open an electronic trade project in Saudi Arabia, in addition to the best e -commerce sites in Saudi Arabia.

 

Conditions of electronic commerce in Saudi Arabia

 

1) You must register in the Ministry of Trade and Investment, where companies are considered to be legal documents proving the health and legitimacy of their practice of e -commerce is necessary to start commercial activity. This includes registering brands and identifying the available currencies.

 2) Safe and reliable payment methods must be provided to users, which include different options for payment. You should also use safe and reliable payment gates, such as PayPal and the main credit cards; To provide better protection for users.

 3) Detailed and clear conditions and provisions must be set for users, which include prices, taxes, shipping, delivery, return and recovery policies. These conditions and conditions must be available to users and easy to access, and all merchants must adhere to these conditions and terms.

 4) You must adhere to the rules of fair competition in e -commerce in Saudi Arabia, which include not monopolizing, manipulating prices and deceptive marketing, and you must also deal with competitors in a fair and transparent manner and avoid unethical practices.

 5) You must have a specific and clear address during the creation of the commercial record.

 6) You must disclose in your electronic store about the following:

       A- Your name or any characteristic of you and your                       address, unless you are registered with an authenticity              of an electronic store.

       B- Your contact information.

      C- The name and number of your trade record or any other             record available to the public.

       D- Any other data determined by the regulations.

 

7) Trader must adhere to the rules of advertising and e -marketing in Saudi Arabia, which include adhering to the standards of quality, health, safety and fraud, which means that you must adhere to the transparency, clear and sincere in the information provided to users, and avoid deceptive or misleading information.

8) In order to be able to sell your product, the marketing advertisement of the product must contain the name of the product or its brand and the name of the product clearly.

9) You must provide the consumer with a statement that includes the terms and conditions of the contract that will be concluded, in addition to the measures that must be taken to conclude the contract, and the basic characteristics of products or services.

10) In the case of selling products from your manufacture, the brand on the product must be actually belonging to you and not a misleading sign, such as using a famous brand and putting it on your product, as doing so exposes you to the advertisement prohibition and perhaps closing the store in the Kingdom of Saudi Arabia.

11) You must adhere to protecting personal and commercial information for users, and protecting it from penetration or theft. Companies must provide a reliable security system to protect personal information for users, which include the name, address, phone number, email and credit card.

12) You may not use the personal data of the consumer or its own contact information for it for unauthorized purposes or not allowed, and it should not be disclosed for any other entities, whether or without a financial compensation or without it unless the consumer agrees with that or was required under the law.

13) The taxes imposed on the profits that are achieved from the e -commerce in Saudi Arabia must also be paid, and you must adhere to periodic tax reports and submit them at the time specified.

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