As a hot blue ocean cross-border market recently, the Middle East has steadily increased its economic strength, ultra-high Internet, strong consumption capacity and strong shopping demand of the Saudi people, coupled with Saudi Arabia's policy support for economic transformation, registering local companies in the Middle East has become the choice of many enterprises!
Of course, some people are worried that the registered capital requirements of local companies are very high, and the registration procedures will be cumbersome. It is true that registering a local company in the Middle East is suitable for relatively large-scale ** enterprises, but its registration process is not difficult!
[Saudi Arabia company registration advantages].
1.100% Foreign Ownership: Saudi Arabia allows foreign investors to hold 100% of the company's shares, eliminating the need to find local partners, ensuring that foreign companies have full control over corporate decisions.
2.*Support: Saudi Arabia** offers a variety of preferential policies and support measures for foreign investors, including tax breaks, land leases, market access, etc., to attract more international companies to invest.
3.Abundant resources: As one of the world's largest oil exporters, Saudi Arabia has abundant oil and gas resources, which provides huge development opportunities for foreign companies in the energy and related industries.
4.Geographical advantage: Located in the heart of the Middle East, Saudi Arabia is connected to many important economic regions such as Europe, Asia and Africa, providing convenience for foreign-funded enterprises to expand the market.
Select the type of Saudi company to be registered
There are two main options for registering a company in Saudi Arabia: 100% holding company; A joint venture between a natural person and a local insurer.
Holding company. To register a 100% holding company in Saudi Arabia, the shareholder must be a company and not a natural person. For example, an overseas company can only set up an office or branch in Saudi Arabia.
2. A joint venture between a natural person and a local insurer.
If you are a foreign natural person and you want to set up a company in Saudi Arabia in your own name, then you must have a local partner or sponsor, where the partner sponsor is called a guarantor.
The insurer and a foreign natural person or company jointly establish a local Saudi company. The minimum shareholding ratio of the guarantor is 25%, and the proportion of the guarantor's shareholding will vary depending on the business license and business scope. For example, the common service industry and the ordinary ** license account for 25% of the shares.
That is to say, 100% of the holding company registered in Saudi Arabia must be a company holding, if it is a foreign natural person to register a company in Saudi Arabia, then it must be a joint venture with a Saudi local company or a Saudi local.
How to register a 100% Saudi holding company
1. Apply for filing.
To register a 100% holding company in Saudi Arabia, the seller needs to apply for the record with MISA, the Ministry of Investment of Saudi Arabia;
The application materials include: company name, financial statements of the parent company, business license of the company, passport of the legal person, articles of association and resolution of the board of directors, etc.
These materials need to be notarized at the company's location and certified by both *** and the Saudi Embassy before they can be accepted and used by MISA.
2. Apply for a visa.
This is a very important step in registering a Saudi 100% holding company.
After obtaining the MISA business license from the Ministry of Investment, go to the Ministry of Commerce for the record, and then apply for a GM visa with the Labor Office.
Next, the VFS authorization letter for the GM visa needs to be submitted to the Saudi Embassy from the official electronic platform. We can then obtain your visa number from the labor office. As an employee or investor of a company, you can legally enter Saudi Arabia to live and work after obtaining an office visa.
3. Find a professional tax agency to register.
At the same time as you apply for a Saudi visa, a professional tax agency will assist you in applying for the filing of a registered company with the Saudi Tax Authority and help you apply for a local bank account opening in Saudi Arabia.
【Saudi Arabia Company Registration Process】
1. Investment Department - Foreign Investment License;
2. Embassy certification of CR of international companies (it takes one month to handle it alone);
3. Registration with the Ministry of Commerce (Saudi Arabia Company Registration - Issuance of Business Registration Certificate);
4. Registration of the Chamber of Commerce (registration of the general manager and authorized signatories);
5. Registration with various tax authorities (GAGT&VAT&GOSI social insurance);
6. Registration with the Department of Labor and Social Development Registration;
7. Open an account (must deposit the required share capital).
Once the Saudi company is registered, it is required to make monthly withholding tax returns, quarterly VAT returns, and annual audits.