We thought of sharing how to start a new business, the following steps will help you to register a new establishment in Saudi Arabia.
You will need a copy of your national ID card with the original. You have to be over 18 years of age.
You will have to come up with a name for your establishment.
You have to get a Post Office Box.
You will have to rent or own an office and provide documents to prove that.
The Ministry of Commerce and Industry will ask you to provide a printout from the citizenship department to prove that you are not a governmental employee, ask them to give you a letter, instead of going there then knowing you needed one.
After filling the form, you will get your Company Registration, then…
You will have to register with the Chamber of Commerce.
Good luck on your new business.
Tips:
Don’t forget to ask for the letter directed to the citizenship department from The Ministry of Commerce and Industry to save you time and hassle.
Once you’re done, you can open an establishment bank account, and get an official company stamp with all your business cards and stationary letterheads.
January 2nd, 2011 at 8:48 am
How are you guys? Thanks for the post though it’s very basic.
I got some specific questions. Let me list out the scenario.
I’m from India. Me and my Saudi friend had an idea to open up a business in Saudi. The plan is that he will own the firm and I’ll work as the CEO for that he has to hire me and send me a Work Permit visa through the Muassasa.
My Saudi friend opened up a Muassasa (Establishment) for Information Technology business. Everything is fine upto now but he is not able to get the Visa for me. I checked up with couple of people I know, they told me that there should be no problem in getting visa’s issues for a Muassasa.
Do you guys know anything about it?
This detail could be a help to someone else too.
Amir
February 17th, 2011 at 7:08 am
Dear Amir,
In order to get a visa, Establishment should have some operations to justify need for employees. In order to justify such need owner of the establishment should visit Saudi Labour office and explain them his need. After that they will issue him a letter that he is in need of labour. One he has such a letter he can go to Istiqdam [visa office] to apply for new visas. Hope this would help.
Should my understanding differs from practice kindly let me know.
May 3rd, 2011 at 3:09 pm
Hi i am planing to open new establishment in KSA , my question is how much will cost the hole process , and is any peculiar specification for the pharmaceutical sector
May 30th, 2011 at 5:54 am
I want to do business in Saudi.
Enough experience in transport
July 25th, 2011 at 3:35 am
I want to do bussness in Saudia How to register my company there plz tell some information
August 23rd, 2011 at 5:25 am
Finish the rent or own argument. Rent to own homes serve an important purpose in today’s gloomy economy: They provide people the opportunity to determine if they’d be better off as tenants or homeowners.
September 20th, 2011 at 1:44 am
Forget it. For foreigners the process is so lengthy that in the end, small investors like me says “Thank you very much, I am better off depositing my money in a bank to live-off profit returned”.
The better option is to hire a qualifed and experienced agents who will take all the burden and get things done in a period of two to three months. But it is cost prohibitive.
Last thing to say, government now allows foreign investment only in selected sectors and activities for which they believe are useful for the country. And yes, minimum capital requirement starts from SR 500,000 (about US $ 135,000).
PS: Mostly the people are better off by asking a Saudi to open an establishment and use his name, license, registration to conduct business but it is HIGH RISK and only works if you find a good and honest Saudi.
October 22nd, 2011 at 11:36 pm
hi,this is zubair k,i have electrical construction incorporation company in united state of America,since 8years,i do millions of dollars jobs last 8years ,i have prove of these job,i had payed th tax to us govt.i have electrical construction liecnce,as well as i have us citizen.i wants to start my company in saudia arabia,how much invesment i need to start my bossiness,can saudia government grant me loan for start electrical construction bossiness,pl reply me as soon as possible,thanks
December 25th, 2011 at 3:28 am
ZUBAIR,IF YOU WANT TO OPEN YOUR BUSINESS IN SAUDI ARABIA
I HELP YOU AND PLEASE IF YOU WANT SEND ME EMAIL
alolhan192@hotmail.com