![\"\"](\"https:\/\/www.creationbc.com\/wp-content\/uploads\/2019\/11\/download.png\" "\\"\\"")
<\/a>[\/vc_column_text][\/vc_column][vc_column width=”1\/6″][\/vc_column][vc_column width=”1\/6″][\/vc_column][vc_column width=”1\/6″][\/vc_column][vc_column width=”1\/6″][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/4″][vc_tta_accordion spacing=”1″ active_section=”0″ collapsible_all=”true”][vc_tta_section title=”ARTICLE UPDATES LOG” tab_id=”1682511105393-b019fb54-a8b84616-1751″][vc_column_text]<\/p>\n\n
This Article was researched and written on Mar 13th, 2023 by Marharyta Skavronska.<\/p>\n<\/div>\n<\/div>\n
However, to achieve post-incorporation success, it is essential to understand the challenges of doing business in Saudi Arabia, including the legal and cultural landscape, and develop a robust strategy to maximise your potential. In this blog, we will guide you through the key steps and considerations for successfully handling the post-incorporation phase in Saudi Arabia.<\/p>\n
[\/vc_column_text][\/vc_column][\/vc_row][vc_row title=”BOOK A FREE CONSULTATION” style=”3d” gradient_color_1=”turquoise” gradient_color_2=”blue” gradient_custom_color_1=”#dd3333″ gradient_custom_color_2=”#eeee22″ gradient_text_color=”#ffffff” custom_background=”#ededed” custom_text=”#666666″ outline_custom_color=”#666666″ outline_custom_hover_background=”#666666″ outline_custom_hover_text=”#ffffff” shape=”rounded” color=”grey” size=”md” align=”center” button_block=”” add_icon=”true” i_align=”right” i_type=”typicons” i_icon_fontawesome=”fas fa-adjust” i_icon_openiconic=”vc-oi vc-oi-dial” i_icon_typicons=”typcn typcn-chevron-right” i_icon_entypo=”entypo-icon entypo-icon-note” i_icon_linecons=”vc_li vc_li-heart” i_icon_monosocial=”vc-mono vc-mono-fivehundredpx” i_icon_material=”vc-material vc-material-cake” i_icon_pixelicons=”vc_pixel_icon vc_pixel_icon-alert” custom_onclick=”” link=”url:%2Fcontact-us%2F” custom_onclick_code=””][vc_column][vc_btn title=”BOOK A FREE CONSULTATION” style=”3d” align=”center” i_align=”right” i_type=”typicons” i_icon_typicons=”typcn typcn-chevron-right” add_icon=”true” link=”url:%2Fen-sa%2Fcontact-us%2F”][vc_column_text]<\/p>\n
WHAT IS THE COMMERCIAL REGISTRATION CERTIFICATE (CR) IN SAUDI ARABIA?<\/span><\/h2>\nThe Commercial Registration Certificate (CR), also known as the Business Registration Certificate, is a legal document that is issued to companies operating in Saudi Arabia. It is an official document that indicates the commercial activities that a company is authorised to undertake in the country.<\/p>\n
In KSA, every industrial or commercial establishment, both domestic and foreign, are required to register with the commercial registration offices of the Ministry of Commerce and Industry (MOCI), which are located in all of the major towns of the Kingdom. The following are a few of the system’s key attributes:<\/p>\n
\n- Branch offices of foreign corporations, or Saudi agents acting on their behalf, are required to first seek permission from Ministry of Investment (MISA), Ministry of Industry and Electricity, and then register with the MOCI within a month of starting operations.<\/li>\n
- Within one month after the start of business, all additional units or branches must also be registered.<\/li>\n
- All subsequent modifications to the information must be disclosed within a month of the change taking place.<\/li>\n
- Information such as the names of the establishment and owners, their nationalities, the amount of capital and shares in the capital of each owner, etc., must be included on the prescribed application forms.<\/li>\n<\/ul>\n
<\/p>\n
HOW CAN I GET A COMMERCIAL REGISTRATION CERTIFICATE IN SAUDI ARABIA?<\/span><\/h2>\nThe Commercial Registration Certificate is the document that is to be obtained in the process of Commercial Registration (abbreviated as CR). Obtaining a company CR in Saudi Arabia requires the following steps:<\/p>\n
\n- Enter the Saudi Business Centre platform.<\/li>\n
- Create your account login (username\/password).<\/li>\n
- Choose a service (e.g., Issue a commercial registration (enterprise)).<\/li>\n
- Fill in the service form data (establishment data and commercial registration data).<\/li>\n
- Submit the application.<\/li>\n
- Complete the payment.<\/li>\n
- Issue the documents and print the CR.<\/li>\n<\/ol>\n
<\/p>\n
WHAT IS THE MINISTRY OF HUMAN RESOURCES AND SOCIAL DEVELOPMENT? WHAT DOES IT IMPLEMENT TO MY SAUDI COMPANY?<\/span><\/h2>\nThe Ministry of Human Resources and Social Development (HRSD) is a Saudi Arabian government agency that was created in 2019 as a result of the merging of the Ministry of Civil Service and the Ministry of Labour and Social Development. It is responsible for developing and implementing policies related to labour, human resources, and social welfare in the country.<\/p>\n
The HRSD plays a critical role in regulating the labour market and human resources development in Saudi Arabia, and as a Saudi company, you will need to comply with its regulations and work with its programs and resources to ensure the success of your business.<\/p>\n
<\/p>\n
WHAT IS QIWA? DO I NEED THIS FOR MY SAUDI COMPANY?<\/span><\/h2>\nQiwa is an online platform launched by the Saudi Arabian government to simplify and streamline the process of doing business in Saudi Arabia. The platform is designed to provide businesses with a range of digital services and solutions to help them manage their operations and stay compliant with local regulations.<\/p>\n
Some of the services that Qiwa offers to businesses in Saudi Arabia include:<\/p>\n
\n- Business registration and licensing.<\/li>\n
- Visa and work permit services.<\/li>\n
- Access to government services and e-government portals.<\/li>\n
- Payment and invoicing services.<\/li>\n
- Payroll and employee management tools.<\/li>\n<\/ul>\n
<\/p>\n
WHAT IS MUDAD?<\/span><\/h2>\nMudad is an advanced digital platform that offers a comprehensive payroll system and compliance system for small and medium enterprises with up to 1000 employees. The platform is designed to simplify and streamline the process of interacting with the government, making it easier for people to access the services and information they may need.<\/p>\n
Mudad offers a range of services, including:<\/p>\n
\n- Applying for and renewing government licenses and permits.<\/li>\n
- Paying fines and fees online.<\/li>\n
- Accessing information and resources related to government services and programs.<\/li>\n
- Submitting complaints and feedback to government agencies.<\/li>\n
- Tracking the status of applications and requests.<\/li>\n<\/ul>\n
The compliance system, in addition to Taminaty\/GOSI contract authorisation, are government-backed systems that safeguard wages and contract agreements, creating a secure and attractive working environment.<\/p>\n
<\/p>\n
WHAT IS A SAUDISATION CERTIFICATE AND IS THIS REQUIRED FOR MY COMPANY?<\/span><\/h2>\nThe Saudisation Certificate, also known as the Nitaqat Certificate, is a certificate issued by the Saudi Arabian government to companies that comply with the country’s Saudisation program.<\/p>\n
The Saudisation program is a national initiative that aims to increase the employment of Saudi Arabian citizens in the private sector. The program requires companies to meet certain quotas for the employment of Saudi Arabian citizens in their workforce, with the exact quotas depending on the size and sector of the company.<\/p>\n
<\/p>\n
POST-INCORPORATION COMPLIANCES IN SAUDI ARABIA<\/span><\/h2>\nAfter incorporating a company in Saudi Arabia, there are several post-incorporation compliances that must be followed to ensure the company is in compliance with local regulations. Some of the key post-incorporation compliances in Saudi Arabia include:<\/p>\n
\n- Obtaining a Commercial Registration (CR) Certificate.<\/li>\n
- Registering for VAT if the annual revenue of the company is exceeding SAR 375,000 and file regular VAT returns.<\/li>\n
- Obtaining a Municipality License.<\/li>\n
- Opening a Bank Account.<\/li>\n
- Obtaining Work Permits and Visas.<\/li>\n
- Maintaining Proper Accounting Records which must be audited by a local auditor.<\/li>\n
- Complying with Labour Laws.<\/li>\n
- Renewing Licenses and Permits.<\/li>\n<\/ol>\n
<\/p>\n
POST-INCORPORATION COMPLIANCES FOR NEW COMPANIES<\/span><\/h2>\nThe list of compliance requirements for Saudi companies is not unified as it is often defined by the business model, team structure and legal type of the company. Nevertheless, a new company in KSA should follow the below steps:<\/p>\n
\n- Complete the registrations with the appropriate Saudi Arabian government departments.<\/li>\n
- Register with MOCI to receive the Chamber of Commerce (CoC) certificate.<\/li>\n
- Activate the CoC account.<\/li>\n
- Register the company with:\n
\n- Ministry of Human Resources and Social Development<\/li>\n
- General Organisation of Social Insurance (GOSI)<\/li>\n
- Zakat, Tax and Customs Authority (ZATCA)<\/li>\n<\/ul>\n<\/li>\n
- Register the office\u2019s national address.<\/li>\n
- Get a Balady and Civil Defense certificate.<\/li>\n
- Create accounts in Absher, Sadad, Qiwa, Mudad etc.<\/li>\n<\/ul>\n
<\/p>\n
HOW TO OPEN A BANK ACCOUNT FOR MY SAUDI COMPANY? WHAT ARE THE REQUIRED COMPANY DOCUMENTS?<\/span><\/h2>\nSaudi Arabia is home to more than 30 local and international banks. Expats can choose from a wide range of options when opening a bank account in Saudi Arabia.<\/p>\n
Among other documents, a newly established Saudi company will have to provide:<\/p>\n
\n- Company Commercial Registration Certificate.<\/li>\n
- Passport copies of the shareholders or statute documents in case the shareholder is a legal entity.<\/li>\n
- Company Memorandum and Articles of Association (MOA\/AOA).<\/li>\n
- Board resolution empowering a company officer to open the bank account.<\/li>\n
- Passport and visa copies for shareholders and authorised signatories.<\/li>\n<\/ul>\n
<\/p>\n
VISA REQUIREMENTS: HOW TO GET VISAS FOR MY SAUDI ARABIAN COMPANY?<\/span><\/h2>\nTo employ team members in Saudi Arabia, there is a need for residence permit (Iqama) for each employee of the company, which allows them to work for a certain period of time.<\/p>\n
Anyone who moves to work in Saudi Arabia must have a Saudi employer who can act as a sponsor. In addition, the company must have an authorisation from the Ministry of Human Resources and Social Development and Ministry of Foreign Affairs.<\/p>\n
The first step to obtaining an Iqama is to obtain a work visa. The employer must apply for this visa on the employee\u2019s behalf; once approved, he can enter the country.<\/p>\n
<\/p>\n
WHAT TO DO NEXT?<\/span><\/h2>\nIn conclusion, setting up a business in Saudi Arabia can be a challenging yet a rewarding experience. It requires extensive knowledge of the local business culture, regulations, and customs. At Creation Business Consultants, we have a team of corporate structuring experts who can guide you through the entire process, from company registration to ongoing compliance and support. We are committed to helping you maximise your potential in Saudi Arabia and achieve long-term success. Contact our Corporate Structuring Department today to learn more about how we can help you take your business to the next level, email info@creationbc.com<\/a> or call Saudi Arabia +966 54 511 2494<\/a>\u00a0UAE +971 4 878 6240<\/a> today.[\/vc_column_text][\/vc_column][\/vc_row][vc_row title=”MORE ON BUSINESS LICENSE IN SAUDI ARABIA” style=”modern” gradient_color_1=”turquoise” gradient_color_2=”blue” gradient_custom_color_1=”#dd3333″ gradient_custom_color_2=”#eeee22″ gradient_text_color=”#ffffff” custom_background=”#ededed” custom_text=”#666666″ outline_custom_color=”#666666″ outline_custom_hover_background=”#666666″ outline_custom_hover_text=”#ffffff” shape=”rounded” color=”grey” size=”md” align=”center” button_block=”” add_icon=”” i_align=”left” i_type=”fontawesome” i_icon_fontawesome=”fas fa-adjust” i_icon_openiconic=”vc-oi vc-oi-dial” i_icon_typicons=”typcn typcn-adjust-brightness” i_icon_entypo=”entypo-icon entypo-icon-note” i_icon_linecons=”vc_li vc_li-heart” i_icon_monosocial=”vc-mono vc-mono-fivehundredpx” i_icon_material=”vc-material vc-material-cake” i_icon_pixelicons=”vc_pixel_icon vc_pixel_icon-alert” custom_onclick=”” link=”url:https%3A%2F%2Fwww.creationbc.com%2Fen-sa%2Fcompany-formation-saudi-arabia%2Fbusiness-license-types%2F” el_class=”cbc-green-btn” custom_onclick_code=””][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/6″][vc_single_image image=”12267″ alignment=”center” style=”vc_box_circle_2″ onclick=”custom_link” link=”https:\/\/www.creationbc.com\/scott-cairns\/”][\/vc_column][vc_column width=”1\/6″][vc_column_text]Scott Cairns,<\/strong>
\nManaging Director<\/strong><\/p>\n
<\/p>\n
HOW CAN I GET A COMMERCIAL REGISTRATION CERTIFICATE IN SAUDI ARABIA?<\/span><\/h2>\nThe Commercial Registration Certificate is the document that is to be obtained in the process of Commercial Registration (abbreviated as CR). Obtaining a company CR in Saudi Arabia requires the following steps:<\/p>\n
\n- Enter the Saudi Business Centre platform.<\/li>\n
- Create your account login (username\/password).<\/li>\n
- Choose a service (e.g., Issue a commercial registration (enterprise)).<\/li>\n
- Fill in the service form data (establishment data and commercial registration data).<\/li>\n
- Submit the application.<\/li>\n
- Complete the payment.<\/li>\n
- Issue the documents and print the CR.<\/li>\n<\/ol>\n
<\/p>\n
WHAT IS THE MINISTRY OF HUMAN RESOURCES AND SOCIAL DEVELOPMENT? WHAT DOES IT IMPLEMENT TO MY SAUDI COMPANY?<\/span><\/h2>\nThe Ministry of Human Resources and Social Development (HRSD) is a Saudi Arabian government agency that was created in 2019 as a result of the merging of the Ministry of Civil Service and the Ministry of Labour and Social Development. It is responsible for developing and implementing policies related to labour, human resources, and social welfare in the country.<\/p>\n
The HRSD plays a critical role in regulating the labour market and human resources development in Saudi Arabia, and as a Saudi company, you will need to comply with its regulations and work with its programs and resources to ensure the success of your business.<\/p>\n
<\/p>\n
WHAT IS QIWA? DO I NEED THIS FOR MY SAUDI COMPANY?<\/span><\/h2>\nQiwa is an online platform launched by the Saudi Arabian government to simplify and streamline the process of doing business in Saudi Arabia. The platform is designed to provide businesses with a range of digital services and solutions to help them manage their operations and stay compliant with local regulations.<\/p>\n
Some of the services that Qiwa offers to businesses in Saudi Arabia include:<\/p>\n
\n- Business registration and licensing.<\/li>\n
- Visa and work permit services.<\/li>\n
- Access to government services and e-government portals.<\/li>\n
- Payment and invoicing services.<\/li>\n
- Payroll and employee management tools.<\/li>\n<\/ul>\n
<\/p>\n
WHAT IS MUDAD?<\/span><\/h2>\nMudad is an advanced digital platform that offers a comprehensive payroll system and compliance system for small and medium enterprises with up to 1000 employees. The platform is designed to simplify and streamline the process of interacting with the government, making it easier for people to access the services and information they may need.<\/p>\n
Mudad offers a range of services, including:<\/p>\n
\n- Applying for and renewing government licenses and permits.<\/li>\n
- Paying fines and fees online.<\/li>\n
- Accessing information and resources related to government services and programs.<\/li>\n
- Submitting complaints and feedback to government agencies.<\/li>\n
- Tracking the status of applications and requests.<\/li>\n<\/ul>\n
The compliance system, in addition to Taminaty\/GOSI contract authorisation, are government-backed systems that safeguard wages and contract agreements, creating a secure and attractive working environment.<\/p>\n
<\/p>\n
WHAT IS A SAUDISATION CERTIFICATE AND IS THIS REQUIRED FOR MY COMPANY?<\/span><\/h2>\nThe Saudisation Certificate, also known as the Nitaqat Certificate, is a certificate issued by the Saudi Arabian government to companies that comply with the country’s Saudisation program.<\/p>\n
The Saudisation program is a national initiative that aims to increase the employment of Saudi Arabian citizens in the private sector. The program requires companies to meet certain quotas for the employment of Saudi Arabian citizens in their workforce, with the exact quotas depending on the size and sector of the company.<\/p>\n
<\/p>\n
POST-INCORPORATION COMPLIANCES IN SAUDI ARABIA<\/span><\/h2>\nAfter incorporating a company in Saudi Arabia, there are several post-incorporation compliances that must be followed to ensure the company is in compliance with local regulations. Some of the key post-incorporation compliances in Saudi Arabia include:<\/p>\n
\n- Obtaining a Commercial Registration (CR) Certificate.<\/li>\n
- Registering for VAT if the annual revenue of the company is exceeding SAR 375,000 and file regular VAT returns.<\/li>\n
- Obtaining a Municipality License.<\/li>\n
- Opening a Bank Account.<\/li>\n
- Obtaining Work Permits and Visas.<\/li>\n
- Maintaining Proper Accounting Records which must be audited by a local auditor.<\/li>\n
- Complying with Labour Laws.<\/li>\n
- Renewing Licenses and Permits.<\/li>\n<\/ol>\n
<\/p>\n
POST-INCORPORATION COMPLIANCES FOR NEW COMPANIES<\/span><\/h2>\nThe list of compliance requirements for Saudi companies is not unified as it is often defined by the business model, team structure and legal type of the company. Nevertheless, a new company in KSA should follow the below steps:<\/p>\n
\n- Complete the registrations with the appropriate Saudi Arabian government departments.<\/li>\n
- Register with MOCI to receive the Chamber of Commerce (CoC) certificate.<\/li>\n
- Activate the CoC account.<\/li>\n
- Register the company with:\n
\n- Ministry of Human Resources and Social Development<\/li>\n
- General Organisation of Social Insurance (GOSI)<\/li>\n
- Zakat, Tax and Customs Authority (ZATCA)<\/li>\n<\/ul>\n<\/li>\n
- Register the office\u2019s national address.<\/li>\n
- Get a Balady and Civil Defense certificate.<\/li>\n
- Create accounts in Absher, Sadad, Qiwa, Mudad etc.<\/li>\n<\/ul>\n
<\/p>\n
HOW TO OPEN A BANK ACCOUNT FOR MY SAUDI COMPANY? WHAT ARE THE REQUIRED COMPANY DOCUMENTS?<\/span><\/h2>\nSaudi Arabia is home to more than 30 local and international banks. Expats can choose from a wide range of options when opening a bank account in Saudi Arabia.<\/p>\n
Among other documents, a newly established Saudi company will have to provide:<\/p>\n
\n- Company Commercial Registration Certificate.<\/li>\n
- Passport copies of the shareholders or statute documents in case the shareholder is a legal entity.<\/li>\n
- Company Memorandum and Articles of Association (MOA\/AOA).<\/li>\n
- Board resolution empowering a company officer to open the bank account.<\/li>\n
- Passport and visa copies for shareholders and authorised signatories.<\/li>\n<\/ul>\n
<\/p>\n
VISA REQUIREMENTS: HOW TO GET VISAS FOR MY SAUDI ARABIAN COMPANY?<\/span><\/h2>\nTo employ team members in Saudi Arabia, there is a need for residence permit (Iqama) for each employee of the company, which allows them to work for a certain period of time.<\/p>\n
Anyone who moves to work in Saudi Arabia must have a Saudi employer who can act as a sponsor. In addition, the company must have an authorisation from the Ministry of Human Resources and Social Development and Ministry of Foreign Affairs.<\/p>\n
The first step to obtaining an Iqama is to obtain a work visa. The employer must apply for this visa on the employee\u2019s behalf; once approved, he can enter the country.<\/p>\n
<\/p>\n
WHAT TO DO NEXT?<\/span><\/h2>\nIn conclusion, setting up a business in Saudi Arabia can be a challenging yet a rewarding experience. It requires extensive knowledge of the local business culture, regulations, and customs. At Creation Business Consultants, we have a team of corporate structuring experts who can guide you through the entire process, from company registration to ongoing compliance and support. We are committed to helping you maximise your potential in Saudi Arabia and achieve long-term success. Contact our Corporate Structuring Department today to learn more about how we can help you take your business to the next level, email info@creationbc.com<\/a> or call Saudi Arabia +966 54 511 2494<\/a>\u00a0UAE +971 4 878 6240<\/a> today.[\/vc_column_text][\/vc_column][\/vc_row][vc_row title=”MORE ON BUSINESS LICENSE IN SAUDI ARABIA” style=”modern” gradient_color_1=”turquoise” gradient_color_2=”blue” gradient_custom_color_1=”#dd3333″ gradient_custom_color_2=”#eeee22″ gradient_text_color=”#ffffff” custom_background=”#ededed” custom_text=”#666666″ outline_custom_color=”#666666″ outline_custom_hover_background=”#666666″ outline_custom_hover_text=”#ffffff” shape=”rounded” color=”grey” size=”md” align=”center” button_block=”” add_icon=”” i_align=”left” i_type=”fontawesome” i_icon_fontawesome=”fas fa-adjust” i_icon_openiconic=”vc-oi vc-oi-dial” i_icon_typicons=”typcn typcn-adjust-brightness” i_icon_entypo=”entypo-icon entypo-icon-note” i_icon_linecons=”vc_li vc_li-heart” i_icon_monosocial=”vc-mono vc-mono-fivehundredpx” i_icon_material=”vc-material vc-material-cake” i_icon_pixelicons=”vc_pixel_icon vc_pixel_icon-alert” custom_onclick=”” link=”url:https%3A%2F%2Fwww.creationbc.com%2Fen-sa%2Fcompany-formation-saudi-arabia%2Fbusiness-license-types%2F” el_class=”cbc-green-btn” custom_onclick_code=””][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/6″][vc_single_image image=”12267″ alignment=”center” style=”vc_box_circle_2″ onclick=”custom_link” link=”https:\/\/www.creationbc.com\/scott-cairns\/”][\/vc_column][vc_column width=”1\/6″][vc_column_text]Scott Cairns,<\/strong>
\nManaging Director<\/strong><\/p>\n
<\/p>\n
WHAT IS THE MINISTRY OF HUMAN RESOURCES AND SOCIAL DEVELOPMENT? WHAT DOES IT IMPLEMENT TO MY SAUDI COMPANY?<\/span><\/h2>\nThe Ministry of Human Resources and Social Development (HRSD) is a Saudi Arabian government agency that was created in 2019 as a result of the merging of the Ministry of Civil Service and the Ministry of Labour and Social Development. It is responsible for developing and implementing policies related to labour, human resources, and social welfare in the country.<\/p>\n
The HRSD plays a critical role in regulating the labour market and human resources development in Saudi Arabia, and as a Saudi company, you will need to comply with its regulations and work with its programs and resources to ensure the success of your business.<\/p>\n
<\/p>\n
WHAT IS QIWA? DO I NEED THIS FOR MY SAUDI COMPANY?<\/span><\/h2>\nQiwa is an online platform launched by the Saudi Arabian government to simplify and streamline the process of doing business in Saudi Arabia. The platform is designed to provide businesses with a range of digital services and solutions to help them manage their operations and stay compliant with local regulations.<\/p>\n
Some of the services that Qiwa offers to businesses in Saudi Arabia include:<\/p>\n
\n- Business registration and licensing.<\/li>\n
- Visa and work permit services.<\/li>\n
- Access to government services and e-government portals.<\/li>\n
- Payment and invoicing services.<\/li>\n
- Payroll and employee management tools.<\/li>\n<\/ul>\n
<\/p>\n
WHAT IS MUDAD?<\/span><\/h2>\nMudad is an advanced digital platform that offers a comprehensive payroll system and compliance system for small and medium enterprises with up to 1000 employees. The platform is designed to simplify and streamline the process of interacting with the government, making it easier for people to access the services and information they may need.<\/p>\n
Mudad offers a range of services, including:<\/p>\n
\n- Applying for and renewing government licenses and permits.<\/li>\n
- Paying fines and fees online.<\/li>\n
- Accessing information and resources related to government services and programs.<\/li>\n
- Submitting complaints and feedback to government agencies.<\/li>\n
- Tracking the status of applications and requests.<\/li>\n<\/ul>\n
The compliance system, in addition to Taminaty\/GOSI contract authorisation, are government-backed systems that safeguard wages and contract agreements, creating a secure and attractive working environment.<\/p>\n
<\/p>\n
WHAT IS A SAUDISATION CERTIFICATE AND IS THIS REQUIRED FOR MY COMPANY?<\/span><\/h2>\nThe Saudisation Certificate, also known as the Nitaqat Certificate, is a certificate issued by the Saudi Arabian government to companies that comply with the country’s Saudisation program.<\/p>\n
The Saudisation program is a national initiative that aims to increase the employment of Saudi Arabian citizens in the private sector. The program requires companies to meet certain quotas for the employment of Saudi Arabian citizens in their workforce, with the exact quotas depending on the size and sector of the company.<\/p>\n
<\/p>\n
POST-INCORPORATION COMPLIANCES IN SAUDI ARABIA<\/span><\/h2>\nAfter incorporating a company in Saudi Arabia, there are several post-incorporation compliances that must be followed to ensure the company is in compliance with local regulations. Some of the key post-incorporation compliances in Saudi Arabia include:<\/p>\n
\n- Obtaining a Commercial Registration (CR) Certificate.<\/li>\n
- Registering for VAT if the annual revenue of the company is exceeding SAR 375,000 and file regular VAT returns.<\/li>\n
- Obtaining a Municipality License.<\/li>\n
- Opening a Bank Account.<\/li>\n
- Obtaining Work Permits and Visas.<\/li>\n
- Maintaining Proper Accounting Records which must be audited by a local auditor.<\/li>\n
- Complying with Labour Laws.<\/li>\n
- Renewing Licenses and Permits.<\/li>\n<\/ol>\n
<\/p>\n
POST-INCORPORATION COMPLIANCES FOR NEW COMPANIES<\/span><\/h2>\nThe list of compliance requirements for Saudi companies is not unified as it is often defined by the business model, team structure and legal type of the company. Nevertheless, a new company in KSA should follow the below steps:<\/p>\n
\n- Complete the registrations with the appropriate Saudi Arabian government departments.<\/li>\n
- Register with MOCI to receive the Chamber of Commerce (CoC) certificate.<\/li>\n
- Activate the CoC account.<\/li>\n
- Register the company with:\n
\n- Ministry of Human Resources and Social Development<\/li>\n
- General Organisation of Social Insurance (GOSI)<\/li>\n
- Zakat, Tax and Customs Authority (ZATCA)<\/li>\n<\/ul>\n<\/li>\n
- Register the office\u2019s national address.<\/li>\n
- Get a Balady and Civil Defense certificate.<\/li>\n
- Create accounts in Absher, Sadad, Qiwa, Mudad etc.<\/li>\n<\/ul>\n
<\/p>\n
HOW TO OPEN A BANK ACCOUNT FOR MY SAUDI COMPANY? WHAT ARE THE REQUIRED COMPANY DOCUMENTS?<\/span><\/h2>\nSaudi Arabia is home to more than 30 local and international banks. Expats can choose from a wide range of options when opening a bank account in Saudi Arabia.<\/p>\n
Among other documents, a newly established Saudi company will have to provide:<\/p>\n
\n- Company Commercial Registration Certificate.<\/li>\n
- Passport copies of the shareholders or statute documents in case the shareholder is a legal entity.<\/li>\n
- Company Memorandum and Articles of Association (MOA\/AOA).<\/li>\n
- Board resolution empowering a company officer to open the bank account.<\/li>\n
- Passport and visa copies for shareholders and authorised signatories.<\/li>\n<\/ul>\n
<\/p>\n
VISA REQUIREMENTS: HOW TO GET VISAS FOR MY SAUDI ARABIAN COMPANY?<\/span><\/h2>\nTo employ team members in Saudi Arabia, there is a need for residence permit (Iqama) for each employee of the company, which allows them to work for a certain period of time.<\/p>\n
Anyone who moves to work in Saudi Arabia must have a Saudi employer who can act as a sponsor. In addition, the company must have an authorisation from the Ministry of Human Resources and Social Development and Ministry of Foreign Affairs.<\/p>\n
The first step to obtaining an Iqama is to obtain a work visa. The employer must apply for this visa on the employee\u2019s behalf; once approved, he can enter the country.<\/p>\n
<\/p>\n
WHAT TO DO NEXT?<\/span><\/h2>\nIn conclusion, setting up a business in Saudi Arabia can be a challenging yet a rewarding experience. It requires extensive knowledge of the local business culture, regulations, and customs. At Creation Business Consultants, we have a team of corporate structuring experts who can guide you through the entire process, from company registration to ongoing compliance and support. We are committed to helping you maximise your potential in Saudi Arabia and achieve long-term success. Contact our Corporate Structuring Department today to learn more about how we can help you take your business to the next level, email info@creationbc.com<\/a> or call Saudi Arabia +966 54 511 2494<\/a>\u00a0UAE +971 4 878 6240<\/a> today.[\/vc_column_text][\/vc_column][\/vc_row][vc_row title=”MORE ON BUSINESS LICENSE IN SAUDI ARABIA” style=”modern” gradient_color_1=”turquoise” gradient_color_2=”blue” gradient_custom_color_1=”#dd3333″ gradient_custom_color_2=”#eeee22″ gradient_text_color=”#ffffff” custom_background=”#ededed” custom_text=”#666666″ outline_custom_color=”#666666″ outline_custom_hover_background=”#666666″ outline_custom_hover_text=”#ffffff” shape=”rounded” color=”grey” size=”md” align=”center” button_block=”” add_icon=”” i_align=”left” i_type=”fontawesome” i_icon_fontawesome=”fas fa-adjust” i_icon_openiconic=”vc-oi vc-oi-dial” i_icon_typicons=”typcn typcn-adjust-brightness” i_icon_entypo=”entypo-icon entypo-icon-note” i_icon_linecons=”vc_li vc_li-heart” i_icon_monosocial=”vc-mono vc-mono-fivehundredpx” i_icon_material=”vc-material vc-material-cake” i_icon_pixelicons=”vc_pixel_icon vc_pixel_icon-alert” custom_onclick=”” link=”url:https%3A%2F%2Fwww.creationbc.com%2Fen-sa%2Fcompany-formation-saudi-arabia%2Fbusiness-license-types%2F” el_class=”cbc-green-btn” custom_onclick_code=””][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/6″][vc_single_image image=”12267″ alignment=”center” style=”vc_box_circle_2″ onclick=”custom_link” link=”https:\/\/www.creationbc.com\/scott-cairns\/”][\/vc_column][vc_column width=”1\/6″][vc_column_text]Scott Cairns,<\/strong>
\nManaging Director<\/strong><\/p>\n
Qiwa is an online platform launched by the Saudi Arabian government to simplify and streamline the process of doing business in Saudi Arabia. The platform is designed to provide businesses with a range of digital services and solutions to help them manage their operations and stay compliant with local regulations.<\/p>\n
Some of the services that Qiwa offers to businesses in Saudi Arabia include:<\/p>\n
- \n
- Business registration and licensing.<\/li>\n
- Visa and work permit services.<\/li>\n
- Access to government services and e-government portals.<\/li>\n
- Payment and invoicing services.<\/li>\n
- Payroll and employee management tools.<\/li>\n<\/ul>\n
<\/p>\n
WHAT IS MUDAD?<\/span><\/h2>\n
Mudad is an advanced digital platform that offers a comprehensive payroll system and compliance system for small and medium enterprises with up to 1000 employees. The platform is designed to simplify and streamline the process of interacting with the government, making it easier for people to access the services and information they may need.<\/p>\n
Mudad offers a range of services, including:<\/p>\n
- \n
- Applying for and renewing government licenses and permits.<\/li>\n
- Paying fines and fees online.<\/li>\n
- Accessing information and resources related to government services and programs.<\/li>\n
- Submitting complaints and feedback to government agencies.<\/li>\n
- Tracking the status of applications and requests.<\/li>\n<\/ul>\n
The compliance system, in addition to Taminaty\/GOSI contract authorisation, are government-backed systems that safeguard wages and contract agreements, creating a secure and attractive working environment.<\/p>\n
<\/p>\n
WHAT IS A SAUDISATION CERTIFICATE AND IS THIS REQUIRED FOR MY COMPANY?<\/span><\/h2>\n
The Saudisation Certificate, also known as the Nitaqat Certificate, is a certificate issued by the Saudi Arabian government to companies that comply with the country’s Saudisation program.<\/p>\n
The Saudisation program is a national initiative that aims to increase the employment of Saudi Arabian citizens in the private sector. The program requires companies to meet certain quotas for the employment of Saudi Arabian citizens in their workforce, with the exact quotas depending on the size and sector of the company.<\/p>\n
<\/p>\n
POST-INCORPORATION COMPLIANCES IN SAUDI ARABIA<\/span><\/h2>\n
After incorporating a company in Saudi Arabia, there are several post-incorporation compliances that must be followed to ensure the company is in compliance with local regulations. Some of the key post-incorporation compliances in Saudi Arabia include:<\/p>\n
- \n
- Obtaining a Commercial Registration (CR) Certificate.<\/li>\n
- Registering for VAT if the annual revenue of the company is exceeding SAR 375,000 and file regular VAT returns.<\/li>\n
- Obtaining a Municipality License.<\/li>\n
- Opening a Bank Account.<\/li>\n
- Obtaining Work Permits and Visas.<\/li>\n
- Maintaining Proper Accounting Records which must be audited by a local auditor.<\/li>\n
- Complying with Labour Laws.<\/li>\n
- Renewing Licenses and Permits.<\/li>\n<\/ol>\n
<\/p>\n
POST-INCORPORATION COMPLIANCES FOR NEW COMPANIES<\/span><\/h2>\n
The list of compliance requirements for Saudi companies is not unified as it is often defined by the business model, team structure and legal type of the company. Nevertheless, a new company in KSA should follow the below steps:<\/p>\n
- \n
- Complete the registrations with the appropriate Saudi Arabian government departments.<\/li>\n
- Register with MOCI to receive the Chamber of Commerce (CoC) certificate.<\/li>\n
- Activate the CoC account.<\/li>\n
- Register the company with:\n
- \n
- Ministry of Human Resources and Social Development<\/li>\n
- General Organisation of Social Insurance (GOSI)<\/li>\n
- Zakat, Tax and Customs Authority (ZATCA)<\/li>\n<\/ul>\n<\/li>\n
- Register the office\u2019s national address.<\/li>\n
- Get a Balady and Civil Defense certificate.<\/li>\n
- Create accounts in Absher, Sadad, Qiwa, Mudad etc.<\/li>\n<\/ul>\n
<\/p>\n
HOW TO OPEN A BANK ACCOUNT FOR MY SAUDI COMPANY? WHAT ARE THE REQUIRED COMPANY DOCUMENTS?<\/span><\/h2>\n
Saudi Arabia is home to more than 30 local and international banks. Expats can choose from a wide range of options when opening a bank account in Saudi Arabia.<\/p>\n
Among other documents, a newly established Saudi company will have to provide:<\/p>\n
- \n
- Company Commercial Registration Certificate.<\/li>\n
- Passport copies of the shareholders or statute documents in case the shareholder is a legal entity.<\/li>\n
- Company Memorandum and Articles of Association (MOA\/AOA).<\/li>\n
- Board resolution empowering a company officer to open the bank account.<\/li>\n
- Passport and visa copies for shareholders and authorised signatories.<\/li>\n<\/ul>\n
<\/p>\n
VISA REQUIREMENTS: HOW TO GET VISAS FOR MY SAUDI ARABIAN COMPANY?<\/span><\/h2>\n
To employ team members in Saudi Arabia, there is a need for residence permit (Iqama) for each employee of the company, which allows them to work for a certain period of time.<\/p>\n
Anyone who moves to work in Saudi Arabia must have a Saudi employer who can act as a sponsor. In addition, the company must have an authorisation from the Ministry of Human Resources and Social Development and Ministry of Foreign Affairs.<\/p>\n
The first step to obtaining an Iqama is to obtain a work visa. The employer must apply for this visa on the employee\u2019s behalf; once approved, he can enter the country.<\/p>\n
<\/p>\n
WHAT TO DO NEXT?<\/span><\/h2>\n
In conclusion, setting up a business in Saudi Arabia can be a challenging yet a rewarding experience. It requires extensive knowledge of the local business culture, regulations, and customs. At Creation Business Consultants, we have a team of corporate structuring experts who can guide you through the entire process, from company registration to ongoing compliance and support. We are committed to helping you maximise your potential in Saudi Arabia and achieve long-term success. Contact our Corporate Structuring Department today to learn more about how we can help you take your business to the next level, email info@creationbc.com<\/a> or call Saudi Arabia +966 54 511 2494<\/a>\u00a0UAE +971 4 878 6240<\/a> today.[\/vc_column_text][\/vc_column][\/vc_row][vc_row title=”MORE ON BUSINESS LICENSE IN SAUDI ARABIA” style=”modern” gradient_color_1=”turquoise” gradient_color_2=”blue” gradient_custom_color_1=”#dd3333″ gradient_custom_color_2=”#eeee22″ gradient_text_color=”#ffffff” custom_background=”#ededed” custom_text=”#666666″ outline_custom_color=”#666666″ outline_custom_hover_background=”#666666″ outline_custom_hover_text=”#ffffff” shape=”rounded” color=”grey” size=”md” align=”center” button_block=”” add_icon=”” i_align=”left” i_type=”fontawesome” i_icon_fontawesome=”fas fa-adjust” i_icon_openiconic=”vc-oi vc-oi-dial” i_icon_typicons=”typcn typcn-adjust-brightness” i_icon_entypo=”entypo-icon entypo-icon-note” i_icon_linecons=”vc_li vc_li-heart” i_icon_monosocial=”vc-mono vc-mono-fivehundredpx” i_icon_material=”vc-material vc-material-cake” i_icon_pixelicons=”vc_pixel_icon vc_pixel_icon-alert” custom_onclick=”” link=”url:https%3A%2F%2Fwww.creationbc.com%2Fen-sa%2Fcompany-formation-saudi-arabia%2Fbusiness-license-types%2F” el_class=”cbc-green-btn” custom_onclick_code=””][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/6″][vc_single_image image=”12267″ alignment=”center” style=”vc_box_circle_2″ onclick=”custom_link” link=”https:\/\/www.creationbc.com\/scott-cairns\/”][\/vc_column][vc_column width=”1\/6″][vc_column_text]Scott Cairns,<\/strong>
\nManaging Director<\/strong><\/p>\n