Saudi Arabia offers a range of benefits in terms of trade and investment opportunities. Saudi Arabia currently has one of the largest economies in the Middle East. Saudi Arabia has vast business opportunities across a range of industries, such as technology, tourism, renewable energy, healthcare & e-commerce.
Saudi Arabia’s Vision 2030 aims to increase transparency and ethics in business practices. The vision is a paradigm shift from a public sector-driven economy to one intended to be driven by the private sector as the main engine for economic growth and job creation. It also aims to diversify the economy and reduce dependence on oil. This means that company formation in Saudi Arabia is becoming a more appealing prospect for business owners.
To learn more, email: KSA@cbdcorporateservices.com or call/whatsapp +971 56 218 4695
Trade License Saudi Arabia
To set up a company, you’ll need to obtain the correct trade license in Saudi Arabia. The correct trade license will depend on a range of factors, such as the type of business you operate. Your trade license allows you to participate in business activities within Saudi Arabia.
Before attaining a trade license, you must obtain a business registration certificate. The Ministry of Commerce and Industry issues the certificate, and applications for the license are sent to the Chamber of Commerce and Industry. Depending on the type of business you are operating, you may need to obtain additional licenses and permits from other government agencies, such as the Ministry of Health or the Ministry of Municipal and Rural Affairs.
Iqama Saudi Arabia
In Saudi Arabia, an iqama is a residency permit that allows foreigners to live and work in the country for an extended period. An Iqama Saudi Arabia residence permit is required for expatriates operating within a KSA new company. The Iqama must be used by individuals entering the country with an employment visa. This allows you to enter the country and conduct business activities.
An iqama contains important information such as the holder’s name, passport number, nationality, job title, and sponsor information.
In addition to serving as a residency permit, the iqama in Saudi Arabia also serves as an identification card and is required for many activities such as opening a bank account, obtaining a driver’s license, and accessing government services.
Our corporate service expert providers can ensure that you have all of the necessary information to apply for the correct visa. Our visa services in the KSA allow you to continue focusing on your business.
Benefits of Starting A Business In Saudi Arabia
The Saudi Arabian economy is the largest in the Middle East, making it a great place to start a business or expand an existing company.
Favourable Business Environment
Saudi Arabia offers a favourable business environment due to more opportunities, tax benefits, an excellent location, a skilled workforce and government support. All of this combined means that Saudi Arabia is a fantastic option for both entrepreneurs and employees.
Our experts will support you throughout the company formation process in Saudi Arabia.
Large and Growing Market
Saudi Arabia has a large and growing market. Of all the largest economies in the world, Saudi Arabia has one of the fastest growing. This growing economy and market appeals to many entrepreneurs looking to start or expand a business.
The strategic location of Saudi Arabia makes it a fantastic option for business startups. In addition, the country has close links with Asia, Europe and Africa.
There are many tax benefits associated with working in Saudi Arabia. You’ll pay low tax rates, if any, and you’ll benefit from various VAT exemptions. These may vary depending on the sector that you operate within.
The population of Saudi Arabia is extremely skilled, which means that new business owners can recruit great staff. A range of visa options are also available to encourage others to visit, work and live in Saudi Arabia. We can support you with all Saudi Arabia visa applications to help ensure your company formation is a smooth process.
The Saudi Arabian Government continually supports foreign investors wanting to set up a business in the KSA. One aspect of their support involves the creation of special economic zones, such as Riyadh, Jazan, Ras Al-Khair, and Makkah.
Stable Business Environment
The Saudi Arabian economy is only set to grow due to the increased popularity of starting new businesses within the country. This, combined with the Saudi Arabia Vision 2030, provides entrepreneurs with a stable business environment.
Setting up a company in Saudi Arabia is an appealing prospect for many reasons, and Vision 2030 will be bolstering the economy and its diversification. You will need to obtain the following documents for a KSA new company set-up.
- Company trade license in Saudi Arabia – obtained from the Chamber of Commerce and Industry
- Memorandum and Articles of Association
- Power of Attorney details
- Director(s) and shareholder(s) passports
- Director(s) and shareholder(s) signatures
- Saudi Arabia visa (an IQAMA Saudi Arabia residency permit allows you to live and work in the country).
Yes, CBD can assist you in company formation or business expansion in Saudi Arabia.
We offer a wide range of corporate services in Saudi Arabia, including the following.
- Company Formation Support
- Corporate Structuring
- Business Support Services: PRO services in Saudi Arabia
- Visas, Iqama, Payroll and HR Services
- Secondary Registration Services
Our expert team can support you with all visa services in Saudi Arabia for yourself and your employees. We can help you decide on the most appropriate visa for your needs and assist you with the application process so that you can continue working on your new business venture.
The cost varies depending on the services required. After a consultation, the team will create a bespoke suite of services tailored to your needs, and such is applicable to the cost as well.
Download our Guide
Download our 2023 Guide to doing Business in the KSA.