Setting up Business in Saudi Arabia

100% Foreign Ownership Company

Are you considering starting your business in Saudi Arabia?

Whether you are from the United States of America, the United Kingdom, China, Russia, the United Arab Emirates, and other significant and industrial countries in Europe, the Far East or  the Middle East and North Africa region, It’s an exciting time to do business in the Kingdom of Saudi Arabia .   At the same time, it requires right approach and most feasible  form of set up for making investments.   At AlGhazzawi & Partners, we get things done in a right manner.

With the new opportunities which the kingdom is actively pursuing in line with its Vision 2023 initiative to attract skilled professionals and foreign investors who can contribute to its economic and social transformation, Saudi Arabian commercial landscape is rapidly changing. . As part of this initiative, the Kingdom has recently revamped its New Companies Law, Premium Residency Program and host of other laws and regulations to provide a more appealing and flexible framework.

For over five decades, we have been working with our clients to create strategies for market entry including new business structuring, mergers and acquisitions, franchising/distribution agreements, financing arrangements, Intellectual property protection, taxation, employment, and real estate. In fact, the firm had been in the forefront in assisting foreign entities in them forging business transactions.

Here are some considerations to guide you through the process

Presence in Saudi Arabia or Delegating Tasks:
Will you be physically present in Saudi Arabia to oversee the procedures, or would you prefer to delegate these tasks to a trusted office? Opting for the latter is often the preferred route for its convenience and ease of doing things.

Enter-to-market Business Strategy:
What’s your business activities plan in Saudi Arabia?

A simple (Zoom meeting) with our specialized team will help us understand your needs.

Under the New Companies Law, there are several options available foreign investors, each with its own nuances: Limited Liability Company, Joint Stock Company, Simplified Joint Stock Company. These entities require fulfilment of specific criteria and conditions  based on their capital structure. It’s crucial to recognize that these prerequisites may differ from similar company types in other countries.

During our meeting, we’ll provide a detailed breakdown of each option tailored to your unique circumstances. We’ll lay out the advantages and disadvantages so you can make an informed decision. Once you’ve made your choice, we’ll prepare the necessary documents for your approval and official ratification.

Prepare for success by aligning your business  strategy with the right company structure. With our informed and well guided approach, we’ll ensure your business is fortified for success in the Saudi Arabian market.

Ministry Approvals and Licenses:
Our team will handle obtaining approvals from the Ministry of Investment, sparing you from any in-person meetings or document submissions. After obtaining the investment license, we’ll assist with incorporation applications, bank account setups, and registrations with different governmental and quasi governmental agencies.

Sector-specific Licenses:
No matter the industry—be it Financial services, Healthcare, Insurance, Manufacturing, Contracting and Construction, Hospitality and Tourism, Real Estate, Telecommunications, Education, Agriculture, Retailer, or another sector—rest assured, our team will secure all essential licenses from the appropriate authorities.

Furthermore, concerns regarding foreign residency and investment licenses are nothing to fret about. Our team handles these procedures seamlessly, whether it’s the initial application or annual renewals. You can trust us to navigate through any bureaucratic hurdles, ensuring your business operates smoothly and legally in the Kingdom of Saudi Arabia.

Sustainability and Compliance:
Our seasoned team is dedicated to your business’s durability and adherence to regulations. We’ll meet with you bi-annually to ensure compliance with various legal requirements, including the renewal of necessary documents, commercial registration, licenses, and digitalization mandates.

Moreover, we’ll guide you through labor laws, ensuring compliance with national employment requirements and proper maintenance of work contracts. We’ll advise on pitfalls to avoid concerning labor relations, safeguarding your business from potential legal issues.

Financially, we’ll help you maintain meticulous records and prepare final accounts in accordance with the generally acceptable accounting standards. From archiving essential documents to submitting financial statements  promptly, we’ll ensure your financial practices are above the board.

Additionally, we offer governance services to strengthen your company’s operations and ensure it remains compliant and sustainable in the long run. With our support, you can navigate regulatory landscapes confidently, safeguarding your business’s future success.

Liquidation Planning:
Should you decide to end your business in Saudi Arabia for any reason, our office excels in efficient liquidation processes. With minimal hassles, we’ll handle the necessary legal paperwork, provide a comprehensive proposal outlining expenses, procedures, timeframe and fees, ensuring a smooth closure.

Throughout the entire journey, from establishment to liquidation, rest assured that you’re in capable and specialized hands who work with full transparency and diligence. Your prosperity and success always remain our top priorities.

With offices located in Jeddah, Dammam, and Riyadh, we stand ready to secure your investment and support your process across the kingdom. Reach out to us on enquiries@ghazzawilawfirm.com or call +966 13 8331611 to guide you on the options available and the investment criteria