Set Up Your Company
in Saudi Arabia
Saudi Arabia has become an attractive hub for entrepreneurship, boasting vast reserves of oil and fuel that have long fueled its economy. The nation’s economy is further bolstered by robust industries including machinery, dairy products, and pharmaceuticals, contributing to its diverse economic landscape. With policies aimed at encouraging investments and fostering new business ventures, Saudi Arabia offers an ideal environment for investors in the Middle East.
This vibrant business landscape, characterized by abundant natural resources and a range of thriving industries, positions the Kingdom as a prime destination for those looking to start and grow their ventures.
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Advantages of Setting Up Your Business in Saudi Arabia
Foreign companies can take advantage of the multitude of incentives offered by the Kingdom of Saudi Arabia to businesses.
A business-friendly environment
The New Companies Law expands business forms, offering more options for company types in Saudi Arabia, with a focus on supporting SMEs.
Tax incentives
Saudi Arabia offers favorable tax rates, including a 20% corporate income tax and exemptions for certain supplies under its VAT system.
Growing diversification
Saudi Arabia's non-oil industries already contribute substantially to GDP, with ongoing efforts to boost sectors like tourism, transportation, and entertainment.
An ideal standard of living
Saudi Arabia's excellent safety record and high living standards make it an appealing destination for individuals considering relocating or establishing secondary homes.
Cost of Setting Up Your Company in the Kingdom of Saudi Arabia
The startup expenses for establishing a business in Saudi Arabia vary based on factors such as nationality, distinguishing between GCC and foreign nationals.
It is also contingent on factors such as the nature of business activities, shareholder count, office space needs, and other considerations.
Explore Monthly Payment Plans with Selected Banks
Steps
- Make a minimum purchase of AED 1,000 using your credit card for any services provided by Firmz.
- Call the banking services of any of our partner banks and request to convert your purchase into an Easy Payment Plan.
- Get the option of paying over 3, 6, 9 or 12 months
Types of Companies Recognized by the Kingdom of Saudi Arabia
Requirement for Obtaining a Business License in Saudi Arabia
Business formation prerequisites in Saudi Arabia may vary based on the company’s nature, yet the following documents are essential and must be in Arabic.
- Parent Company’s Memorandum & Articles of Association
- Attested Financial Statement for the Last Full Year
- Business License/Trade License
- Certificate of Incorporation
- Board Resolution
- Power of Attorney
Steps for Setting Up Your Business in Saudi Arabia
Are you prepared to set up your business in Saudi Arabia? Here’s a comprehensive step-by-step guide for you.
Determine Your Business Activities
Select the desired business activities for your Saudi Arabian venture, as this information is vital for your application and business type selection.
Apply For The MISA Investment License
Foreign investors need a license from the Ministry of Investment Saudi Arabia for foreign-owned companies, with our specialists assisting in the process.
Submit Articles Of Association
Submit your company's Articles of Association to the Ministry of Commerce and Investment (MCI) for notarization post-approval.
Register Your Company Name
Choose a business name suitable for your enterprise, then seek approval and reservation from the Unified Center.
Apply For Commercial Registration
The commercial registration certificate confirms the legal registration and authorization for your business operations in Saudi Arabia.
Register Your Company’s National Address
Registering a national address ensures your company complies with regulations and accesses improved government services and communication.
Register With The Government Departments
After receiving the commercial registration certificate, your company needs to register with government departments like GOSI, ZATCA, and HRSD, each with distinct procedures.
Open Your Corporate Bank Account
Finally, within 90 days of receiving your Commercial Certificate, you must open a bank account in Saudi Arabia for business transactions.