Saudi Arabia is rapidly becoming a prime destination for entrepreneurs and investors. Known for its vast natural resources and a diverse economy spanning oil, machinery, dairy products, and pharmaceuticals, the Kingdom offers substantial opportunities for business growth.
The Kingdom’s favorable investment policies and open economic environment further enhance its appeal, making Saudi Arabia a compelling choice for those looking to invest and establish a presence in the Middle East.
Saudi Arabia’s New Companies Law introduces flexible business structures, including LLCs with enhanced financing options. The Small and Medium Enterprises General Authority, Monsha’at, supports SMEs with incubators, accelerators, and co-working spaces.
Enjoy a 20% corporate income tax rate and no personal income taxes. VAT is 15%, with exemptions for certain goods and services.
Saudi Arabia is diversifying its economy with Vision 2023, focusing on non-oil industries like tourism, transportation, and entertainment. Non-oil sectors now make up 58.9% of the GDP.
Rated among the safest G20 countries in 2020, Saudi Arabia offers a high standard of living with low crime rates and reasonable costs, making it an attractive location for relocation or business expansion.
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To establish your business in Saudi Arabia, you’ll need to prepare specific documents, all of which must be submitted in Arabic. While requirements may vary based on the nature of your company, the following are commonly needed:
Here’s a clear step-by-step guide for you
Identify the specific operations your business will engage in. This will guide the selection of the appropriate company type, which our experts will assist you in determining.
Foreign investors must secure a license from the Ministry of Investment Saudi Arabia (MISA). Our team will help with the application, including business and financial details.
File your company’s Articles of Association with the Ministry of Commerce and Investment (MCI) and have it notarized. This document is essential for your Commercial Registration (CR) and Tax Number.
Choose and reserve a name for your company, then get it approved by the Unified Centre.
Acquire a commercial registration certificate to legally operate your business in Saudi Arabia.
Register your company’s national address to comply with regulations and improve government services and communication.
After obtaining your commercial registration, register with the General Organization for Social Insurance (GOSI), the Zakat, Tax and Customs Authority (ZATCA), and the Ministry of Human Resources and Social Development (HRSD).
Set up a bank account for your business within 90 days of receiving your Commercial Certificate for all financial transactions.
