10 steps to incorporating in Saudi Arabia
- Prior to business setup, our Client i) settles Healy Consultants’ company formation fees, ii) signs and returns our Client company formation engagement letter and iii) provide us all the required due diligence documents;
- Healy Consultants drafts a detailed company setup engagement project, mapping out by week each step to business setup engagement completion, optimising transparency, and setting Client expectations for Saudi Arabia incorporation;
- Healy Consultants reserves company name with the Unified Center and prepares company deeds of establishment and articles of association. The exact Saudi Arabia corporate structure is agreed with our Client;
- Our Client supplies Healy Consultants with a lease agreement for their office premises following Saudi Arabia business incorporation. If this is not possible, Healy Consultants will supply virtual office services for 6 months until our Client finds their preferred business address after Saudi Arabia business incorporation is completed;
- Healy Consultants assists our Client open a corporate bank account with a Saudi bank. Our Client deposits the paid up share capital of US$26,665 and supplies Healy Consultants with a certificate of deposit and bank statement;
- To support Saudi Arabia incorporation, Healy Consultants then i) pays the Chamber of Commerce fee ii) notarizes all company documents and iii) registers our Client for social security insurance with the General Organization of Social Insurance (GOSI) iv) registers with the Department of Zakat for an annual religious wealth tax;
- The license application is submitted to the Investors Service Center in SAGIA. The latter is required to evaluate the investment request and give its decision within 30 days;
- Subsequently, Healy Consultants assists our Client register the Saudi Arabia LLC with the Company Registry Office and receive a Company Registration Certificate from the Ministry of Commerce. Thereafter, we submit an announcement in the Official Gazette;
- To support company formation, Healy Consultants will obtain work visas from the General Department of Passports, Ministry of Interior and the Ministry of Labor following company registration;
- Following company incorporation engagement completion, Healy Consultants couriers a full company kit to our Client, including original Saudi Arabia corporate documents, unopened bank correspondence and a Client feedback survey.
Frequently asked questions
Can foreign companies incorporate a Saudi Arabian subsidiary?Yes. However it is rather challenging for companies outside the GCC to incorporate in Saudi Arabia. Contact Healy Consultants to learn about the incorporation process in Saudi Arabia.
Can foreigners incorporate a Saudi company in any industry?No. Foreigners are not permitted to invest in several industries in the “negative list” such as i) oil exploration and production ii) real estate iii) tourism iv) recruitment and employment services v) printing and publishing.