1. Vision 2030: Investor-friendly Environment

   Saudi Arabia has implemented the New Companies Law in a never-seen-before spirit to support businesses. More business types have been introduced, with a rigorous emphasis on modern trade, services, and e-commerce.
   Limited Liability Companies (LLCs) are given all sorts of benefits, including access to finance and favourable banking support. Monsha’at, the Saudi authority regulating Small and Medium Enterprises, has rolled out several innovative offers for SME’s, such as incubators, lending programs, start-up funding, mentorship programs, and more. All this is the result of the 2030 Vision that supports diversification in economic investments, and an intense desire to reach that goal
   
   

2. No Personal Income Tax and 100% Foreign Ownership

   Saudi Arabia imposes no personal income tax, and for businesses, the corporate tax rate is relatively low compared to many other countries. Additionally, some sectors may enjoy tax incentives and exemptions, particularly in areas targeted for development. Even if you are an expat or a foreigner investing in Saudi, you have unparalleled access to 100% ownership of your company.

3. Large Consumer Market

   The Saudi market is the largest in the region with over 50 million people populating the country. So, you open yourself to more buyers and even more opportunities when you invest. Furthermore, the opportunities become endless when the question of Saudi Arabia’s location comes in. GCC is an hour-long flight away, Africa is 2.5 hours away by air, and Europe is 3 hours away. There is no country in the world as centrally located as Saudi Arabia.

4. Access to Government Projects and Contracts:

   Saudi Vision 2030 has revealed a unique opportunity to investors not seen in other developed countries in the world. The Saudi government’s ambitious plans to build a city like NEOM on next-generation technology, tapping into tourism, upscaling real estate, and backing the manufacturing sector, all rely on public-private partnership. The government seeks private sector’s participation in major investments and mega-projects. This is a significant opportunity for the private sector to shine and improve chances of future collaboration.

Advantages Of Growing Your Business To Saudi Arabia

Cost Of Setting Up A Business In The Saudi Arabia

Well that depends. What is your business activity? How many visas will you require? How many investors and shareholders are there? Will you require an office space or warehousing? All these questions are important.

Get in touch with us so that we can tell you the cheapest price in the market.

What Kind Of Company Can You Set Up In Saudi Arabia

Saudi Arabia Business License: Required Documents

Depending on the kind of business you want to set up, the majority of the documents will be as follows:

• Memorandum of Association (if parent company exists)

• Articles of Association

• Attested Financial Statement for the Last 12 Months

• Business License/Trade License

• Certificate of Incorporation

• Board Resolution

• Power of Attorney

• Certificate of Good Standing (for Foreign Companies)

There are a several steps in setting up your company and some documents must be submitted in Arabic. The process may vary depending on the type and size of the business, but the following are the general steps to register a business in the country.

Business Setup Steps

Determine the Business Activity

Decide on the type of business activity you want to undertake. This could be a sole proprietorship, partnership, limited liability company (LLC), or any other form of business entity.

Submit Documents to the Ministry of Commerce and Investment (MOCI)

Prepare the required documents, including the application form, MOA (for partnerships and LLCs), and other relevant forms. Submit these documents to the MOCI for review and registration.

Submit the Memorandum of Association (MOA)

For a partnership or LLC, you need to submit a Memorandum of Association outlining the company's objectives, shareholders' details, ownership structure, and distribution of profits and losses.

Reserve a Business Name

Choose a unique and appropriate name for your business, then submit it for approval and reservation at the Department of Zakat and Income Tax (DZIT). The name must comply with Saudi Arabia's naming conventions and should not infringe on any existing trademarks or copyrights.

Notarize the Documents

The relevant documents, especially the MOA, must be notarized by a Saudi notary public or a licensed lawyer.

Obtain Necessary Approvals

Depending on the nature of the business, you may need approvals from other government agencies or ministries, such as the Saudi Food and Drug Authority, Saudi Arabian General Investment Authority (SAGIA), or Municipalities.

Register with the General Organization for Social Insurance (GOSI)

If you plan to hire employees, you need to register with GOSI to provide social insurance coverage for your workforce.

Obtain a Commercial Registration Certificate (CR)

After the MOCI reviews and approves your application, you will receive a Commercial Registration Certificate (CR) with a unique CR number.

Register with the General Authority for Zakat and Tax (GAZT)

Register with GAZT for tax purposes and obtain a tax identification number.

Open a Bank Account

With the CR and other required documents, you can now open a bank account for your business.

Register with the Chamber of Commerce and Industry

Register your business with the relevant Chamber of Commerce and Industry in the area where your business is located.

Obtain a Municipality License

Depending on the nature of your business and its location, you might need to obtain a municipality license from the local municipality.