How to set up a Business in Saudi Arabia(KSA)

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 after that submitted to the relevant government authority.

Benefits of Business Setup in Saudi Arabia (KSA)

Did you know that Saudi Arabia (KSA) is the preferred by expats from a variety of nations to carry out the business setup in Saudi Arabia (KSA) This is because it offers several benefits:

Access to a large market

Strong Infrastructure

Favorable business environment

Access to natural resources

Growing tourism industry

Skilled Workforce

Strong ties with other countries

Expand your business to KSA with 100% foreign ownership.

Foundations of the Legal Entity (Projected timeline: 1 month):To legally establish your business in Saudi Arabia, you must first obtain a one-year license from the Ministry of Investment of Saudi Arabia (MISA). You must also reserve your company's name with the relevant authority, draft and notarize your Articles of Association (AoA), and obtain your Commercial Registration (CR) certificate which officially recognizes your company as a legal entity in Saudi Arabia. Finally, you must register with the Chamber of Commerce (CoC).

1. Obtain a MISA Investor License

2. Name Reservation

3. Draft Local Articles of Association (AoA)

4. Commercial Registration (CR)

Chamber of Commerce (CoC) Registration Insight: The Articles of Association template is set up by law and companies are only able to adjust their general manager’s powers.

Authorization to Hire Staff (Projected timeline: 2 months)

After procuring a company seal you need to register with the Ministry of Labor and enrol in the General Organization for Social Insurance (GOSI) to be able to hire and manage staff in KSA. By registering your company’s physical location in KSA, it will be listed in the national database for legal correspondence. The next steps are securing a visa for a General Manager (GM) of your new entity, and registering with the General Authority of Zakat and Tax (GAZT) for tax compliance, including VAT.

5. Obtain a Company seal

6. Register with The Ministry of Labor

7. Register with the General Organization for Social Issuance (GOSI)

8. Register a National Address

9. Issue a GM Visa

10. Registration with the General Authority of Zakat and Tax (GAZT) and VAT Registration

Acquiring Residency and Opening a Bank Account (Total Projected timeline: 3 months)

To complete your business setup in Saudi Arabia, you must activate your CoC account, obtain health insurance for the GM, schedule the GM's medical check-up (the GM must visit KSA for this step), secure the GM's Iqama, register on the key portals such as Muqeem, Absher, Qiwa, and Mudad portal, and open a corporate bank account.

11. Activate the Chamber of Commerce (CoC) Account

12. Obtain Health Insurance

13. Get a Medical Check-up

14. Issuing the GM’s Iqama

16. Register with the Muqeem portal for streamlined visa and residency management

17. Register with the Absher portal for an array of e-government services

18. Register with the Qiwa portal for business services designed for SMEs

19. Register with the Mudad Portal to manage essential municipal services for your company

20. Open a Bank account

Could you make sure you transfer some funds to your new bank account within 60 days of its opening, otherwise, it will get blocked. You also need to get your Saudization certificate to be able to access the Etimad portal and bid on government tenders.”

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