Saudi Arabia Company Registration and Business Opportunities
Saudi Arabia is the Middle East’s third-largest economy and has abundant oil resources which have helped make it a high-income and wealthy nation. Recent government initiatives have provided large-scale funding for economic diversification projects, hence creating opportunities for foreign businesses to invest and expand in Saudi Arabia.
Saudi Arabia Company Registration Procedures
Company registration in Saudi Arabia takes 8 days while post-registration procedures will take 2 days. The procedures are as follows:
Registration of the company
Fees for relevant procedures are:
- SAR 1,200 for Saudi Arabian company registration
- To become a member of Chamber of Commerce, the fee is SAR 2,000
- SAR 500 for the e-magazine publication fee
- SAR 1000 for a municipality license
Obtain a municipality license, membership of certificate
The Meras platform also allows entrepreneurs to obtain a municipality license, notarize the articles of association electronically, and obtain a membership certificate with the Chamber of Commerce.
Register for tax and social insurance online
Applicant companies can register with the General Authority for Zakat and Tax (GAZT) through the Meras platform and open a tax file. They can also register for the General Organization for Social Insurance (GOSI).
Registration with the labour department online
Applicant companies must also register with the Ministry of Labor and Social Development (MLSD).
Opening a bank account
Applicants are also required to open a bank account at a bank of their choosing within 90 days starting from the issuance date of the commercial certificate. Also, after company registration in Saudi Arabia is done and the certificate of registration is issued, the applicants can go back to the bank to unblock their capital deposit and activate their bank account.
Make a company seal
The seal costs around SAR 40-50 to make and must include the Certificate of Registration number and the name of the company. It is also needed to attest signatories at the Chamber of Commerce. Then, register with the General Organization for Social Insurance and for the companies’ invoices.
The seal is always required for the following documents:
- Any contracts
- Shareholder resolutions
- Management resolutions
- Official letters and notices
- Official company letterheads
Contact Us Today
If you are interested in company registration in Saudi Arabia, then 3E Accounting is the right choice for you. Our effective and high-quality work will make sure that the results are quick and thorough.
Contact us today and let us take care of all the procedures so you can devote your valuable time to achieving what you deserve.