How to Start a Business in Saudi Arabia: A Comprehensive Guide for Foreign Investors
Starting a business in Saudi Arabia has never been more attractive, thanks to Vision 2030 and the government’s strong push to diversify the economy and welcome foreign investment. Whether you’re a solo entrepreneur, a foreign company looking to expand, or a startup founder ready to tap into the Saudi market, this guide will walk you through the key steps and requirements.
Why Saudi Arabia?
Saudi Arabia is one of the largest economies in the Middle East, offering: – Strategic location connecting three continents – Business-friendly reforms and tax incentives – Full foreign ownership in many sectors – Advanced digital infrastructure – Streamlined licensing via the Ministry of Investment (MISA)
Step-by-Step: Starting a Business in Saudi Arabia
- Choose Your Legal Structure Common options for foreigners include: – Limited Liability Company (LLC) – Branch of a Foreign Company – Joint Stock Company – Sole Establishment (for GCC nationals) Each structure has its capital, liability, and ownership requirements.
- Apply for an Investment License (MISA License) The Ministry of Investment (MISA) is your first stop. Foreign investors must: – Create a MISA account – Submit required documents (passport, company profile, financials, etc.) – Await approval and issuance of the investment license
- Register the Company with MoC (Ministry of Commerce) After getting your MISA license: – Reserve a company name – Draft and notarize Articles of Association – Register the company with the Ministry of Commerce – Pay registration fees and obtain the Commercial Registration (CR)
- Register with Other Government Authorities ZATCA (Tax Authority) for VAT and Zakat compliance GOSI for employee social insurance Municipality for operating license (if needed)
- Open a Bank Account in Saudi Arabia This requires: – A valid CR – Investment license – Proof of office location (lease)
- Set Up Your Office and Staff Visas Lease an office space , Hire local or foreign employees Apply for work visas and iqamas (residency permits)
Smart Council Can Help
At Smart Council, part of the global Sokrab Network, we specialize in guiding foreign investors and entrepreneurs through every step of the business setup process in Saudi Arabia, from obtaining the investment license to opening your corporate bank account.
Contact Us: +966 50 008 1983
Email: walaa@sokrab.com
www.sokrabsaudi.com
