Business Setup in Saudi Arabia
Setting up a business in Saudi Arabia involves several systematic steps and compliance with local regulations. The Kingdom has become an attractive destination for foreign investors, mainly due to its Vision 2030 initiative, which aims to diversify the economy and promote foreign investment.
- Seamless Process
- Bank Account Assistance
- Dedicated Support
Company Registration in Saudi Arabia
The Saudi Arabian government has brought in more businesses by launching Vision 2030 to enhance the immigration of entrepreneurs in Saudi Arabia.
Foreign companies can leverage Saudi Arabia's Vision 2030 to foster business growth through various strategic avenues. This ambitious plan aims to diversify the economy, reduce dependence on oil, and enhance public services, creating a dynamic environment for international investment and collaboration.
Who can start a business in Saudi Arabia?
Suppose you wish to set up a business in KSA or already have an established business in another nation. In that case, Saudi Arabia supports you in expanding and incorporating a new company here with numerous advantages.
Cost of Starting a Business in Saudi Arabia
The cost of opening a company in Saudi Arabia starts from SAR 15,000. The price always depends on the type of business you choose to register and the business activity you decide.
Benefits of Starting a Business in Saudi Arabia
Below are the benefits of starting a business in Saudi Arabia
- Saudi Arabia invites and Encourages Foreign Investors and Entrepreneur
- Business-Friendly Environment
- 100% Ownership of your Business
- Government Support Programs
- Tax Incentives
- Strategic Location
- Vision 2030 encourages investment across various sectors, such as tourism, entertainment, renewable energy, and technology, providing diverse opportunities.
Steps for Business Setup in Saudi Arabia
Below are the process for setting up a company in Saudi Arabia
Select a legal structure that suits your business goals, such as:
- Limited liability companies
- Joint stock companies
- Limited partnership company
- Branch offices
- Representative offices
Select the business activity that suits your business.
Decide your business name carefully, and it should not be offensive. Avoid ending up with any religious names, and avoid repeating other business names. Please choose a unique name for your business and reserve it with the relevant authorities.
We need to submit the necessary documents to the authorities. We might have to submit additional approval documents if your business needs additional approvals.
Open a bank account to manage financial transactions related to your business.
Documents Required to Setup a Business in Saudi Arabia
- Get an investment license from the Ministry of Investment Saudi Arabia (MISA).
- Company’s Memorandum and Articles of Association
- Company registration certificate.
- Company's name and address registration.
- Register with relevant government authorities for taxation and insurance.
- Open a corporate bank account.
- Investment License Application Form
- Notarized Board Resolution
- Audited Financial Statements
- Passport copies of all the shareholders
- Identity and address proof of Directors and all the shareholders
- Attested Copy of the Power of Attorney
What our clients say
Gryffin Capitalist offers a comprehensive and reliable service for starting a business in Saudi Arabia, particularly for foreign investors.
The Gryffin Capitalist team provides detailed guidance on choosing the proper business structure and obtaining necessary licenses, making the process seamless.
GC's dedicated team assists with everything from document preparation to opening corporate bank accounts, ensuring a seamless setup in the Saudi market.
Why Choose Gryffin Capitalist?
Gryffin Capitalist is your one-stop solution for registering a company in Saudi Arabia. The entire registration process can take 1 to 3 months. Depending on the efficiency of document preparation and regulatory approvals. We provide business assistance and services to start and complete company registration in Saudi Arabia. Reach out to us, and our business advisors will assist you.
Tailored Solutions
Transparent Process
Expert Service
Familiarity with the Saudi Arabia market
Compliance Support
Legal Support
Frequently Asked Questions (FAQs)
The steps to register a business in Saudi Arabia include:
- Selecting a legal structure.
- Reserving a trade name.
- Obtaining the necessary licenses.
- Registering with government authorities.
- Opening a corporate bank account.
Yes, in recent years, Saudi Arabia has opened its doors to foreign investors, allowing them to own 100% of certain types of businesses through the Foreign Investment Law.
The minimum capital requirement varies depending on the type of business and its location. In some cases, there may be no minimum capital requirement.
Yes, certain industries may have specific regulations and permits. Research and compliance with industry-specific requirements, such as healthcare, construction, or food services, is essential.
Saudi Arabia has introduced a value-added tax (VAT) system. Businesses need to register for VAT and adhere to the tax regulations. Additionally, corporate income tax may apply to certain types of companies.
