Business setup in Saudi Arabia
Saudi Arabia won the title of the world’s top improver and reformer on the World Bank’s Doing Business 2020 report. Foreign investors have started to notice. In 2019 the number of international companies that opened in Saudi Arabia increased by 54% compared to 2018.
Now is an excellent time to open your company in Saudi and take advantage of the many business opportunities in the Kingdom. The Ministry of Investment has different programs and packages to attract foreign investment in Saudi Arabia. Multinational companies in Saudi Arabia will be able to take advantage of many benefits including a 50-year tax holiday through “Programme HQ,” when moving their headquarters to Riyadh.
Massive opportunities beyond the energy sector
The place where you can go and improve
It may not have been your first choice destination. But there has never been a better time than now to open your mind to a place which welcomes expats and offers amazing landscapes, unspoiled beaches, a safe and clean environment, friendly local people, delicious food, and amazing travel opportunities in the region. Companies in Saudi Arabia can reap the benefits of a fast-developing economy with huge opportunities and earning potential.
I had the pleasure of living in Saudi Arabia for 4 years
Those years were some of the best years of my life. I had excellent professional opportunities and found Saudis wonderful to work with. In that time, I had opportunities to grow and improve. I had several different roles, and I was praised and appreciated for each unique contribution I made. Let’s say I was pleasantly surprised to find that there were many more reasons beyond financial incentives to come to this country.
Saudi Arabia also offers benefits to export, hire, and grow, such as:
Saudi Arabia Export Program, which provides you export credit, financing, guarantees, and insurance.
The Human Resources Development Fund provides you financial support for the training and employment of Saudis.
The Saudi Arabia Industrial Development Fund, the Public Investment Fund, and the Saudi Arabian Industrial Investment Company provide low-cost loans.
Significant tax concessions for training and employment to companies in Hail, Jazan, Najran, Al-Baha, Al-Jouf, and Northern Borders regions, valid for ten years from the start of your project.
The National Industrial Development and Logistics Program (NIDLP) aims to boost investment in the mining industry, logistics and energy by $320 billion by 2030, to stimulate investments worth more than $426 billion and increase the volume of non-oil exports to more than $260 billion. It also aims to generate 1.6 million new jobs.
We are partnered with a legal 500 EMEA Leading Law Firm with 40+ years of experience and technical, cultural and commercial capability, as well as the contacts in government and the business community, to propel clients to success in their commercial goals.
Our package consists of:
1. Free initial consultation about the future of your company in Saudi Arabia.
2. Targeted Saudi Arabia advisory for adapting your product or service, and understanding Saudi business culture.
3. Full company registration in Saudi Arabia through our trusted local partners who are company formation experts.
4. Relationship support throughout the process.
5. Cross-cultural training for the Saudi market, since understanding the culture is the key to success.
With the help of our trusted local partners in Saudi Arabia, we offer commerical registration in Saudi Arabia, as well as advice, support, and consultation to emerging companies, mergers and acquisitions, business configurations, joint ventures, business orientation for companies of all sizes, from start-ups to Fortune 500’s.
Book a FREE CALL to learn more about it
What are the steps for the business registration?
Company formation in Saudi just got easier, thanks to our trusted local partner. Here’s what they’ll do:
- Carry out all steps for commercial registration and incorporation of your comapany.
- Appointment a power of attorney, to be stamped by your Saudi Embassy.
- Obtain an investment license at the Ministry of Investment.
- Gain approval of your company documents.
- Legalize the documents.
- Establish the address of your office.
- Open a bank account
- List your company in the local commercial register.
How long does it take to open a business in Saudi Arabia?
The entire process from start to finish will take between 40-60 days.
Can individual start a business in Saudi Arabia?
No – to open a company there must be at least 2 people.
What are the best sectors to invest in Saudi Arabia?
In the following table, you can see the fastest growing sectors:
FOOD AND BEVERAGE
INFORMATION & COMMUNICATION TECHNOLOGY (ICT)
EDUCATION & TRAINING
FOOD DELIVERY APPS