The steps to establish a company in the Kingdom of Saudi Arabia are subject to for expatriates and foreigners for many terms and conditions set by the General Investment Authority in the Kingdom of Saudi Arabia. The government of the Kingdom of Saudi Arabia emphasized the encouragement of foreign investment in line with the Kingdom's future vision 2030, and the granting of many investment privileges to the foreign investor.
What are the steps for establishing a sole proprietorship in Saudi Arabia?
for Establishing a company in Saudi Arabia There are many steps that need to be taken. Some of these requirements include bringing the correct official documents and papers. Here are some of the required items:
- commercial license.
- Incorporation document.
- Company seal.
- Operating Agreement.
- Memorandum of Association.
A true copy of the commercial registration of the establishment to be established, bearing in mind that it is approved and authenticated by the Ministry of Foreign Affairs in the Kingdom of Saudi Arabia and the Saudi Embassy. A true copy of the personal card of the owner of the company, noting that it is certified by the Ministry of Foreign Affairs and the Saudi Embassy.
A certificate of good conduct states that the business owner has a clean record and has never been accused of any wrongdoing. The required licenses for commercial activity have been obtained from the competent authorities. A certificate of deposit is a valid document proving that the capital has been transferred to the branch of the institution from a local bank in the Kingdom.
If you have all the official papers and documents we mentioned, you can Our company has the right to establish itself in the Kingdom of Saudi Arabia as follows: If you have all the official papers and documents that we mentioned, our company can prove The same in the Kingdom of Saudi Arabia through the following procedures:
You must first visit the Saudi Ministry of Commerce and Investment and reserve the company's trade name. Secondly, you must submit an official application to the Saudi Ministry of Commerce and Investment to open a branch of a sole proprietorship. Third, initial approval must be obtained from the Saudi Civil Defense and the municipality before the sole proprietorship branch can be established. Fourth, once all the previous legal procedures are completed, the commercial registration of the branch of the sole proprietorship will be obtained.
Conditions for obtaining the Articles of Association:
The government of Saudi Arabia was very interested in implementing Formalities associated with establishing A company, whose goal was to protect the rights of investors who consider the Saudi economy a major player in the Arab world.
The formal terms of the Articles of Association set out all the requirements that must be included in the Articles of Association in order for it to be legally binding and approved by the courts.
Article 12 of the Saudi Companies Law specifies that all contract clauses must be written in front of a notary public or an employee appointed by the Ministry of Justice. If any part of the Contract is not written in accordance with these Guidelines, it will not have legal weight and will not be binding.
It is important to publish the partnership contract in Umm Al-Qura newspaper, which is an official announcement announcing the company's branch as an independent commercial entity. The primary objective of publishing this advertisement is to announce the legal personality of the company. The commercial registration of the company branch must be extracted.
Establishing companies for foreigners in Saudi Arabia:
In order to establish a company in Saudi Arabia for foreigners, several legal procedures must be taken. The first is to submit an official application for foreign investment in Saudi Arabia to the General Investment Authority. Attach a true copy of the Company Articles of Association, which must then be legalized by the Embassy Saudi Arabia located in the country of the foreign investor. In addition, it is necessary to determine the company's activity and appoint a general manager.
To apply for a company name, the founder or the agent of the founders submits the application to the Ministry of Commerce and Industry. The investor must obtain the approval of the Ministry within a period not exceeding 5 days. The articles of association of the company must be attested by a notary within two days. It is also necessary to publish the name of the company in the Official Gazette. Various government offices must be registered with, such as the Chamber of Commerce and Industry, the General Organization for Social Insurance, the General Directorate of Passports, and the Ministry of Interior.
Ways to establish a company in Saudi Arabia:
To create the impression that you are an independent business entity, it is necessary to take several legal actions. The first step is choosing a name for the company. A lawyer must be appointed to assist in writing the Articles of Incorporation, and a true copy of the National ID Card and Power of Attorney must be brought. The forms are submitted to the Ministry of Commerce and Investment electronically. Memorandum of Association examination is required to ensure compliance with the Saudi Companies Law, and initial approvals must be obtained. The company logo, website address and advertising campaign must be approved in advance by the General Administration of Companies. A commercial bulletin will be published in Umm Al-Qura newspaper, and an electronic copy will be printed as well. Partners must have a notary public present.
Limited Liability Company in Saudi Arabia:
To establish your business in Saudi Arabia using electronic methods, you must first log in to the Corporate Services Portal website. At the top right of the page, click the login icon. Enter the username and password as well as the national identification number. Click the speed dial icon, type your company. Select the company type from the list.
A new page will appear on the screen containing all relevant information about your partner's company. The purposes of the company were explained, and the activities of the commercial registry were clarified. You have to choose a company name. You will be required to enter some data and information about the main company and its branches, as well as enter some company establishment data such as the duration of the contract, the capital, the number of shares, and the fiscal year. You must upload the discussed partner decisions. In this step, you will need to indicate the divisions of the company, the number of directors, and their duties. You will also need to specify the company's headquarters and commercial registration data. Finally, all financial fees due in this step must be paid. A text message will be sent to you containing the application number, which you will need to notarize the Articles of Incorporation.
Establishing a company online in Saudi Arabia:
You can set up a company by yourself or with other partners, none of whom are government employees. You can do this by visiting the Ministry of Commerce website and following the steps listed below. First, enter your ID number and password into the system. Next, select "Log in through national unified access". You can choose the location of your company's headquarters. After completing the appropriate steps, you will be able to select the company name. If you are the only founder, you can complete this step. Next, fill in the company's financial information including Including cash and in-kind capital.Then the number of shares is allocated and distributed to the partners according to what they own.Management step is completed and the next is the selection of a manager.This can be done in the Memorandum of Association or a separate contract.Finally, the powers of the company can be specified and allocated according to the desire of the founders.Included Power of attorney and other privileges but may sometimes be restricted by law Completing these steps brings peace of mind to the founder of the company.
Establishing a company in Saudi Arabia for foreigners:
This service was created as a result of cooperation and integration between all government agencies in the Kingdom. It was launched by the Saudi Ministry of Investment in cooperation with the Ministry of Foreign Affairs and the Ministry of Commerce with the aim of providing easier and faster access to investment licenses. Its goal is to provide easy access to investment licenses that take into account best practices from around the world.
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