A new foreign investment law was passed in 2000 under which The Saudi Arabia General Investment Authority dubbed as SAGIA provides the foreign investment license to conduct business in the Kingdom. Investors don’t need any local partner after the license. However, some activities like the medical profession are still restricted. While the compliance scenario has changed a lot, it is still tough for foreign investors to get by without the help of any business advisor. In this scenario, the consultancy firms like BusinessLink help you to complete the process hassle-free and become a successful foreign investor in the Kingdom.
In a meeting organized in collaboration with SAGIA officials and BusinessLink, Mr. Khalid A. Alsheddi the Executive Director of Investor Advisory & Relations spoke about the newfound opportunities in the Saudi market. The CEO of Business Link firm Mr. Hatem El Safty were also in attendance. Mr. Khalid A. Alsheddi pointed out that BusinessLink has been a pioneer in the business consultancy market with an experience of two decades. He reaffirmed his commitment to providing the clients with the most cost-efficient and practical solutions.
In recent times the market all around the world has witnessed a dip. At the same time, The Saudi market ‘Tadawul’ registered consistent growth. At the end of 2018, the foreign investment in the Kingdom stood at 16.50 billion Riyal. In only 8 quarters this grew to around 125 billion Riyal. The stats make the Kingdom an ideal place for investors who want to see their wallets grow as soon as possible.
Options for an Investor
An investor has multiple options in front of him at the time of entering a new market like market penetration or market development. In the market penetration strategy, the investor focuses on attaining more sales of existing products in the current market. This increases the market share of the business. An example of this is the expansion of Al Baik Restaurants Company expansion in Jeddah which increased its branches to over thirty.
Another option is the market development strategy. In this, you focus on selling your existing products in new markets. An example of the same is the expansion of the McDonald's restaurant using the option of developing the market globally. They sell the same products with minor technical modifications to match the culture and religions of customers in different markets and have grown to over 36000 branches in 118 countries.
The strategies work only with the right support. BusinessLink will work as the catalyst that will help you to set up a business in Saudi Arabia by jumping all the hurdles and landing on the finishing line spotless. From shipping agents to scientific and technical offices, you can invest in any industry you perceive as profitable. With the help collaboration of the authorities, companies such as BusinessLink and the Ministry of Investment, the foreign investors’ business expansion can witness a steep rise.
You can become one of the successful foreign investors in Saudi Arabia. BusinessLink will assist you with easy and fast commercial services to setup your dream business in the land of Saudi Arabia. Saudi Arabia is filled with business opportunities at the moment. You have to do a strategic approach in order to do the business expansion. The first step would be researched, followed by availing of professional services. BusinessLink is supporting Saudi Arabia in improving the foreign investors’ business expansion by providing services such as
• The full-fledge of professional legal advice on best company formation type in Saudi Arabia
• Apply for SAGIA | MISA approval
• Register the company with ministry of commerce and chamber of commerce
• Provide KSA local address as per the requirements
• Register the company with all government’s portals (MOL, GOSI, VAT, ZAKAT)
• Open company bank account
• HR & Saudization services
and other crucial services required to set a profitable foot in Saudi Arabia.
The professional team of Business Consultants helps you build your dream business within your budget.
Thus, Mr. Khalid A. Alsheddi highlighted the role BusinessLink in the future of foreign investments in Saudi Arabia. BusinessLink is a Global Corporate Service provider based in the UAE. Which helps entrepreneurs to set up and can do a business expansion in and out of the UAE.
For more details or to get a free consultation, enquire now through any of the below channels
✉ firstname.lastname@example.org | www.businesslink.sa |📞+971-556070118 | ☎+971-43215227