To Create a foreign company in Saudi Arabia and benefit from all available investment opportunities, some conditions must be met, the most important of which are:-
1- Before starting anything related to this company, it is necessary to obtain licenses and legal approvals from the Investment Authority and the authorities responsible for supervising such activities within the Kingdom. This license determines the type of permitted activity and adherence to Saudi laws.
2- To practice activities according to what is stated in the Saudi regulations for investment and trade.
3- Some trade sectors require the presence of a Saudi partner with a foreign partner at a rate of no less than 25%.
4- Obtaining all other necessary additional approvals and obtaining a commercial register as well.
5- Commitment to paying the taxes imposed on it.
6- It is necessary to employ a percentage of Saudi workers, and this percentage varies according to the type of commercial activity and the sector to which it belongs.
7- The foreign company must obtain work visas for its foreign employees according to Saudi regulations.
8- The presence of a bank account for the company in one of the local Saudi banks.
9- This foreign investor must have at least 5 years of experience in this field.
1- Limited liability company.
2- Branch of a foreign company.
3- Closed joint stock company.
4- Joint company with a Saudi partner.
When opening a company in Saudi Arabia, despite all the facilities that the Kingdom always seeks to provide, you will face some challenges that must be overcome, the most famous of which are
1_ Despite all the facilities that occur to complete the procedures, these routine procedures sometimes require some time in order to obtain the necessary licenses.
2_ There is fierce competition in some sectors, so before entering the market, you are required to have a comprehensive analysis and knowledge of all these competitions and how to enter between them.
3_ Businesses may be affected by the regional and global economic changes that occur.
4_ The difference and diversity of cultures, so it is necessary to know how to adapt to these cultures and not affect the relationship between partners and workers and communication with customers as well.
The value of the capital varies depending on the type of company that will be established, the activity that will be practiced, the number of partners, and the size of the share in this company.
The fees required to open a company vary according to the type of this company and the nature of the work in it. These fees are the registration fees with the Saudi Ministry of Commerce and Investment and the Chamber of Commerce as well.
There are many options, the most famous of which are limited liability companies LLC, branches of foreign companies, and joint stock companies.
Do you have more questions and inquiries about opening a company?
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October 14, 2024
- بواسطة ibrahim elsiofy
