Saudi Arabia has been one of the booming investment grounds that allow business investors to step forward and form a business entity. The Kingdom of Saudi Arabia (KSA) is the largest oil producing country in the world.
Setting up a business in Saudi Arabia
The official language is Arabic, therefore all documents are first required to be translated into Arabic by an official translator and thereafter submitted to the relevant government authority.
The summary of procedures is as follows:
• Obtain the investment license from the Saudi Arabian General Investment Authority (SAGIA)
• Open a bank account with a local bank in KSA
• Obtain a commercial registration (CR) from the Ministry of Commerce and Industry (MOCI)
• Register with the Chamber of Commerce
• Register with the Ministry of Labor
• Register with the General Organization for Social Insurance (GOSI)
• Register with ZAKAT
Any non-resident who intends to set up a branch or an LLC company formation in Saudi Arabia is required to obtain the investment license from Saudi Arabian General Investment Authority (SAGIA) before starting the above procedures. Given that all the required documents should be translated into Arabic language for filing with the authorities, it may take approximately 1 month to obtain the commercial registration (CR) from the Ministry of Commerce and Industry.
Business Setup in Saudi Arabia requires an investor to go through the following steps:
1) Select the Industry & Business Structure
2) Submit the Essential Documents
3) Understand the Saudi Arabia Corporate Rules
4) Select a Trade Name
5) Get the Required Approvals
6) Look for a Physical Office
7) Get the Government Approvals
If you're interested to expand your business in Saudi Arabia, get in touch with Business Link at info@businesslinkuae.com and we will be happy to assist you.
For more info: info@businesslinkuae.com; www.businesslink.sa; 055 6070118; 04 321 5227
