Company Registration in Saudi Arabia
As the world’s largest oil exporter, Saudi Arabia has been involved in international business relations for decades. Although, the country has since enlarge its industrial portfolio to include telecommunication, power, healthcare, tourism, hospitality and more. Government of Saudi Arabia has made company registration in Saudi Arabia quite simple and easy for GCC nationals and foreigners. Company registration process in Saudi Arabia is very simple and easy and we can help you to expand your business in Saudi Arabia. Foreign company registration in Saudi Arabia do not require investment in many business secotrs.
Today, Saudi Arabia key focus on diversifying its economy and attracting foreign investment has only strengthened. The Saudi Vision 2030 development plan prioritizes the opening of small and medium businesses, integration of the Saudi economy into the global business world and foreign investment in non-traditional business sectors. Saudi Crown Prince Mohammed bin Salman launched the annual Future Investment Initiative dubbed Davos in the Desert to promote these plans.
Set Up Company Registration in Saudi Arabia
Company registration in Saudi Arabia is more complex, but with proper guidance anyone can set up a business here. Company registration in Saudi Arabia can be different depending on the gender of the applicant as there are some rules and regulations that have to be meet by business persons. The legislation is workable in terms of the types of organizations that can be set up in Saudi Arabia.
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Set Up Company Registration in Saudi Arabia
Company Registration process in Saudi Arabia
Types of Company Registration in Saudi Arabia:
Types of companies in saudi arabia
- Joint stock company
- Joint venture
- Limited partnership company
- Joint Liability Company
- Limited liability company
Cost of Saudi Company Registration
- Register in Commercial Registry
- Open a corporate bank account
- Investment License at the General Investment Authority
- Notarized/Legalize Documents
- Office establishment
- Publication in Official Gazette
- Register Membership at Chamber of Commerce
Saudi Arabia Company Register
Steps for Foreign Company Registration in Saudi Arabia
01
The composition of the statutory documents of the Saudi business, which cover the Memorandum and Articles of Association.
02
Some other crucial details must also be prepared for foreign company registration in Saudi Arabia, like identification papers of the stakeholders or incorporation papers in the case of foreign companies.
03
The Saudi Arabia company register must also have a registered address that must be recorded with the Trade Register
04
The documents must be filed with the Trade Register in Saudi Arabia
05
Setting up an organization bank account in which the share capital will be deposited must be set up with a local bank
06
Register with the Saudi tax authorities for taxation purposes and for obtaining a VAT number.
What to consider when Company Registration in Saudi Arabia
Legal Course of Action for Saudi Company Registration
Why Set up Company Registration in Saudi Arabia
- The cost of business registration in Saudi Arabia is just 5.4% of the per capita income of an entrepreneur.
- In 2020, Saudi Arabia entered the top 10 global business climate improvers
- Saudi Arabia was ranked 62nd in terms of ease of doing business in the World Bank’s 2020 report
Benefits of Company Registration in Saudi Arabia
Boasting the biggest economy of the Arab states and among the top 20 largest in the world, it offers a host of chance to any business person with the drive and skills to succeed. From simple set up procedures to tax efficiency, there are numerous great reasons to launch your next enterprise in Saudi Arabia.
Here we have enlisted some key benefits of company registration process in Saudi Arabia:
- Tax benefits
- Welcoming environment
- Innovation
- Broad economy
- Safety, security and standard of living
Why Saudi Arabia is perfect for Starting a Business
Company Registration in KSA
In all cases, the selected company registration in ksa needs a foreign investment license from the Saudi Arabian General Investment Authority (SAGIA) and possibly other specific regulatory approvals.
Business Registration in Saudi Arabia for foreigners
Company Registration Process in Saudi Arabia
The entire company registration process in Saudi Arabia can be summarized in the several steps:
2. Submit an application to the Ministry of Investment of Saudi Arabia, MISA (previously known as SAGIA) for your company’s investment license.
3.Get approval from the Ministry of Commerce and Industry after submitting the Articles of Association and the firm name.
4.Sign the Articles of Association in front of a notary public.
5.Publish Saudi company register name and the Articles of association in the official gazette.
Foreign Investment Policy for Saudi Company Registration
Saudi Arabia Business Registry Environment
- Highly developed telecommunications
- Sophisticated financial and services sector
- High-quality residential and office accommodation
- Supply of industrial land and commercial real estate at competitive costs
- A young and skilled workforce (50% of the country’s population is under 25 years old).
- Saudi Arabia is one of the secure places in the world with a good healthcare system