Company registration in Saudi Arabia
Ministry of Commerce & Industry KSA is the authority of limited liability company registration in Saudi Arabia. To be a shareholder in a company a foreigner must obtain a foreign capital investment license from Saudi Arabian General Investment Authority SAGIA.
SGIA prescribed minimum capital requirements of LLCs involving foreign participation are as follows:
It’s required minimum one share holder for company formation in KSA. Well, after getting the licensing issues the LLC have to be registered with the Ministry of Commerce and Investment. The formalities and process of company registration in Saudi Arabia (KSA) progress in 11 steps as follows:
Authority: Ministry of Commerce and Industry is the authority of company registration in Saudi Arabia (KSA). Usually a name reserved remains valid for two months. Thereafter the process has to be done again. The process requiring one working day if done online but requires no charge.
Authority: Unified Center (UC)/Companies Department. Requiring one working day and no charge for submission of documents and authentication .Noting requires 3 days more and no charge.
Authority: Bank. It is required 1 working day to open the account.
Authority: Municipality of Riyadh and Post Office. It is required 1 working day and no charge.
Authority: Bank in the premises of the Unified Center UC. The process time is 1 working day. Company registration fee in Saudi Arabia is SAR500. More SAR 650 is required for the publication of summary of Articles of Association AA.
Authority: Unified Center (UC)/Companies Department and to obtain certificate of company registration in Saudi Arabia might require 2 working days.
Authority: Chamber of Commerce. The membership of the Chamber is SAR 2000. 1 Day to complete the job.
This process requires 1 working day but no costs.
Authority: General Organization for Social Insurance GOSI The procedure requiring two working days to complete but no costs.
Authority: Department of Zakat DZIT. 2 to 3 days are required to complete the registration process.
Opening a Branch Office in KSA
To complete all the formalities 3-7 weeks time and branch office registration fees is SAR 3390 might required.
Establishing a Representative or a liaison office is normally granted only for companies that have multiple contracts with the government and requiring a local office to oversee implementation of those contracts. Representative offices are not allowed to engage in direct or indirect commercial activities in the Kingdom and also requiring no legal status.
Corporate Taxes in KSA
The Corporate Taxes payable in KSA are as follows:
The Investors Service Center ISC at SAGIA oversees all matters related to licensing and registration of foreign investments. The ISC was intended to acting as one-stop service unit to assisting the foreign investors and minimizing procedural complicates. SIDF Saudi Arabian Industrial Fund may come to providing financing overseas companies to the tune of 50 percent with 15 years payback period.