Are You Looking for
Business Setup in Saudi Arabia
Helping individuals & entrepreneurs with Business Setup/Company Formation in Saudi Arabia
Company Setup in Saudi Arabia
Who We Are
MakeMyCompany is a leading business setup and incorporation consultancy firm in Saudi Arabia. With over a decade of experience and a team of seasoned professionals, we have helped countless entrepreneurs and businesses establish their presence in the Kingdom. Our deep understanding of local regulations, market dynamics, and industry best practices enables us to provide tailored solutions that ensure a smooth and efficient business setup process.
Business setup License in Saudi Arabia
Services License
Industrial License
Real Estate License
Commercial License
Transport License
Consulting Licenses
Services License
Industrial License
Real Estate License
Commercial License
Transport License
Entrepreneur License
Agricultural License
Mining License
Regional Headquarter License
Consulting Licenses
Entrepreneur License
Agricultural License
Mining License
Regional Headquarter License
Company formation in Saudi Arabia
Benefits of Setting up a Business in Saudi Arabia
Saudi Arabia’s Vision 2030 has ushered in a new era of economic diversification and business opportunities. The government’s efforts to create a conducive environment for foreign investments and entrepreneurship have positioned the country as an attractive destination for international business expansion.
One of the key advantages of starting a business in Saudi Arabia is the investor-friendly government initiatives and pro-entrepreneurship laws. The Kingdom has streamlined regulations and introduced reforms to simplify the process of setting up and operating a business. This includes incentives, tax benefits, and a supportive legal framework that provides clarity and stability for investors. Additionally, the country’s strategic location, abundant resources, and access to regional markets make it an appealing choice for companies seeking to establish a presence in the Middle East.
6 Easy Steps to Start a Business in Saudi Arabia
- Determine the Business Structure: Choose the appropriate legal entity for your business, such as a limited liability company, sole proprietorship, or partnership.
- Obtain Necessary Licenses and Permits: Secure the required licenses and permits based on your business activity and location.
- Rent or Purchase Commercial Premises: Identify and secure suitable commercial premises for your business operations.
- Register with Relevant Authorities: Register your business with the Ministry of Commerce and Investment, obtain a commercial registration certificate, and fulfill other regulatory requirements.
- Open a Corporate Bank Account: Establish a corporate bank account for your business transactions.
- Hire Employees (if applicable): Comply with labor laws and regulations when hiring employees for your business.
Give us a call for setting up a business in Saudi Arabia
TESTIMONIALS FOR BUSINESS SETUP SERVICES IN DUBAI
Process for Setting Up Business in Saudi Arabia
- Initial Consultation: Our team will meet with you to understand your business goals, requirements, and preferences and provide tailored guidance on the most suitable business structure and incorporation strategy.
- Feasibility Study and Market Research: We conduct comprehensive feasibility and market research to ensure your business idea aligns with local market demands and regulatory frameworks.
- Business Plan Development: Our experts assist you in developing a detailed and compelling business plan, outlining your objectives, strategies, and financial projections.
- Company Registration and Licensing: We handle the entire company registration process, including obtaining necessary licenses and permits from the relevant authorities.
- Legal Documentation and Compliance: Our legal team ensures compliance with all applicable laws and regulations, preparing and filing the required documentation on your behalf.
- Post-Incorporation Support: Even after establishing your business, we offer ongoing support and guidance to ensure smooth operations and compliance with regulatory updates or changes.
At MakeMyCompany, we pride ourselves on our commitment to excellence, transparency, and customer satisfaction. Contact us today to confidently and easily embark on your entrepreneurial journey in Saudi Arabia.
Business setup consultants in Saudi Arabia
Cost of Business Setup in Saudi Arabia
Setting up a business in Saudi Arabia involves various costs, which can vary depending on the type of business structure, industry, and specific requirements. Here’s a breakdown of the typical expenses you can expect:
Government Fees
- Commercial Registration Fee: This fee is charged by the Ministry of Commerce and Investment for registering your business entity. The cost ranges from SAR 1,000 to SAR 30,000, depending on the company’s capital.
- License and Permit Fees: Depending on your business activity, you may need to obtain various licenses and permits from relevant authorities, such as the Ministry of Municipal and Rural Affairs or the Saudi Arabian General Investment Authority (SAGIA). These fees can range from a few hundred to thousands of Saudi Riyals.
Legal and Professional Services
- Company Formation Services: You may need to engage a professional service provider, such as a law firm or a business setup consultancy like Incorpyfy, to assist with the company formation process. The costs can vary based on the complexity of your business and the services required.
- Legal Fees: If you require legal assistance for drafting contracts, reviewing agreements, or obtaining legal opinions, you will need to factor in legal fees charged by attorneys or law firms.
Office Setup Costs
- Office Rent or Purchase: Depending on your preference, you may need to rent or purchase commercial premises for your business operations. Office rental costs can vary significantly based on the location, size, and amenities.
- Office Furniture and Equipment: You’ll need to budget for furnishing your office space with desks, chairs, computers, and other necessary equipment.
Operational Costs
- Visa and Labor Fees: If you plan to hire foreign employees, you’ll need to obtain work visas and pay associated labor fees, including residency permit fees and medical insurance costs.
- Marketing and Advertising: To promote your business and establish a strong presence in the market, you may need to allocate funds for marketing and advertising activities.
Saudi Business Business Setup
Business Setup FAQ'S in Saudi Arabia
What are the most common business structures in Saudi Arabia?
The most common business structures in Saudi Arabia are Limited Liability Company (LLC), Sole Proprietorship, General Partnership, and Joint-Stock Company. LLCs are the most popular choice among foreign investors due to their flexibility and limited liability.
Do I need a local partner or sponsor to set up a business in Saudi Arabia?
Foreign investors are generally required to have a Saudi partner or sponsor, except in certain sectors where 100% foreign ownership is allowed. The percentage of required Saudi ownership varies depending on the industry and business activity.
Can I hire foreign employees for my business in Saudi Arabia?
Yes, you can hire foreign employees, but you will need to obtain work visas and comply with Saudi Arabia’s labor laws and regulations. The process involves obtaining a block visa, paying visa fees, and providing accommodation and medical insurance for foreign employees.
What are the key taxes and fees I need to be aware of?
The main taxes and fees include corporate income tax (20% for foreign companies), Value Added Tax (VAT) at 15%, customs duties, and local municipal fees. Additionally, you may need to pay fees for various licenses and permits, depending on your business activity.
How long does it typically take to set up a business in Saudi Arabia?
The timeline can vary depending on the complexity of your business structure and the efficiency of the process. Generally, it takes around 4-8 weeks to complete the entire process, including obtaining licenses and permits, if all required documents are in order.
Can I open a corporate bank account before registering my company?
No, you will need to first register your company with the Ministry of Commerce and Investment and obtain a commercial registration certificate before you can open a corporate bank account in Saudi Arabia.
Is it mandatory to have a physical office space in Saudi Arabia?
Yes, most business activities in Saudi Arabia require a physical office space. However, some specialized economic zones or free zones may allow for virtual or flexible office solutions.
What are the key factors to consider when choosing a location for my business?
When selecting a location, consider factors such as proximity to your target market, accessibility to transportation networks, availability of skilled labor, infrastructure, and any specific requirements or regulations related to your industry.
