How to set up business in Saudi Arabia

As a part of Vision 2030, an array of recent economic reforms is happening in the Kingdom. Saudi Arabia aims to increase foreign investment contribution to the GDP by 2030 with the aim to create a potential environment for local and foreign investments. The Saudi Arabia has become the most potential marketplace for investors, business owners, and entrepreneurs with a booming economy.

Steps for setting up business in Saudi Arabia

There is a total of 16 steps to complete the full process to establish a legal foreign-owned business set up in the Kingdom under MISA guidelines.

  • 1. Preparing of Required Documents
  • 2. Applying for MISA License & Name Reservation
  • 3. Drafting of the local Articles of Association (AOA)
  • 4. Gaining Signatures and Approvals
  • 5. Issuance of the Commercial Registration (CR)
  • 6. Registration with the Chamber of Commerce (CoC)
  • 7. Activate the Chamber of Commerce (CoC) Account
  • 8. Register with The Ministry of Labour
  • 9. Register with General Organization for Social Insurance (GOSI)
  • 10. Get a National Address
  • 11. Issue GM Visa
  • 12. GM Visits KSA
  • 13. Convert GM Visa to Residency (Iqama)
  • 14. Register with Muqeem Portal
  • 15. Add GM to the Company’s Books
  • 16. Initiate the Bank Account Opening Process

If you’re planning to build up your business in Saudi Arabia, get in touch with analytixarabia.com and we will be happy to assist you to make these procedures simple.