In 2000, the Saudi government announced a new Foreign Investment Law, introducing regulatory incentives that provided for the establishment of the Saudi Arabian General Investment Authority (SAGIA).
Foreign investors seeking to establish a company in Saudi need a foreign investment licence issued by SAGIA. The foreign party will need to provide their commercial registration and one year audited statements at time of application as a minimum. One of the benefits of licensing through SAGIA is that foreign investors can retain 100% ownership of their company in KSA.
GCC Solutions provide clients will a turnkey SAGIA company formation service.
Once the commercial registration for the company in Kingdom has been issued by the Ministry of Commerce and Industry (MOCI) it is mandatory to register with the below government authorities:
– Chamber of Commerce (CoC)
– Ministry of Foreign Affairs (MoFA)
– General Authority for Zakat & Tax (GAZT)
– General Organisation of Social Insurance (GoSI)
– Ministry of Labour and Social Development (MLSD)
– Other government authorities that may be required on a case by case basis depending upon the business activity of the company
GCC Solutions have a KSA team dedicated to government liaison services to complete the registration with all government stakeholders as required.