Expert: One-year deadline for non-profit status update
The implementation of the executive regulations for the System of Charitable Societies and Institutions in Saudi Arabia has begun, with a one-year grace period for non-profit entities to align their practices with the new regulations. The regulations focus on enhancing governance and financial and administrative oversight within the non-profit sector, supporting the goals of Vision 2030 in developing this sector. They also specify the requirements for establishing associations and institutions, such as the need to include at least 10 Saudi members, the non-profit nature of the organization, and compliance with the administrative structure and financial reporting standards.
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