Saudi Arabia economy is experiencing growth in all industry sectors and along with its natural resources, geographic and cultural location between three continents it is an attractive destination for doing business. As a result of this growth, the country has gained a solid economic foothold, becoming one of the top twenty largest economies in the world.
In line with the Saudi Vision 2030, Saudi government has worked to encourage foreign investors to invest into the Kingdom. Therefore, this will have a knock-on effect by raising the country’s economic level and diversify income sources away from oil and gas.
Foreign companies can establish subsidiaries in Saudi Arabia with 100 percent ownership or they have the option to set up a company in Saudi Arabia and partner with a Saudi national.
The most common business licenses in Saudi Arabia to establish a company include:
- Limited Liability Company (LLC)
- Joint Stock Company (JSC)
- Foreign company branch
- Or any other legal form approved by the authority