{"id":23308,"date":"2026-02-20T12:04:45","date_gmt":"2026-02-20T12:04:45","guid":{"rendered":"https:\/\/www.creationbc.com\/?p=23308"},"modified":"2026-02-23T07:20:26","modified_gmt":"2026-02-23T07:20:26","slug":"setting-up-a-financial-company-in-saudi-arabia","status":"publish","type":"post","link":"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/","title":{"rendered":"SETTING UP A FINANCIAL COMPANY IN SAUDI ARABIA"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#TYPES_OF_FINANCIAL_INSTITUTIONS\" >TYPES OF FINANCIAL INSTITUTIONS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#LEGAL_STRUCTURE_OWNERSHIP_REQUIREMENTS\" >LEGAL STRUCTURE &amp; OWNERSHIP REQUIREMENTS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#EXTERNAL_APPROVALS_REGULATORY_LICENSES\" >EXTERNAL APPROVALS &amp; REGULATORY LICENSES<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Saudi_Central_Bank_SAMA\" >Saudi Central Bank (SAMA)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Capital_Market_Authority_CMA\" >Capital Market Authority (CMA)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Ministry_of_Investment_MISA\" >Ministry of Investment (MISA)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Other_Regulatory_Bodies\" >Other Regulatory Bodies<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#OPERATIONAL_COMPLIANCE_REQUIREMENTS\" >OPERATIONAL &amp; COMPLIANCE REQUIREMENTS<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Governance_Risk_Management\" >Governance &amp; Risk Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Capital_Funding_Requirements\" >Capital &amp; Funding Requirements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Location_Operational_Setup\" >Location &amp; Operational Setup<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Saudization_Human_Capital\" >Saudization &amp; Human Capital<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Accounting_Reporting_Tax_Compliance\" >Accounting, Reporting &amp; Tax Compliance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#IT_Cybersecurity_Data_Protection\" >IT, Cybersecurity &amp; Data Protection<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#LICENSING_APPROVAL_PROCESS\" >LICENSING &amp; APPROVAL PROCESS<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Choose_Your_Legal_Structure\" >Choose Your Legal Structure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Draft_Articles_of_Association\" >Draft Articles of Association<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Obtain_MISA_Investment_License\" >Obtain MISA Investment License<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Register_with_the_MoC\" >Register with the MoC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Register_for_ZATCA_Tax_VAT\" >Register for ZATCA Tax &amp; VAT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Open_Corporate_Bank_Account\" >Open Corporate Bank Account<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Set_Up_E-Invoicing_Digital_Compliance\" >Set Up E-Invoicing &amp; Digital Compliance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Secure_Office_Lease_Municipality_License\" >Secure Office Lease &amp; Municipality License<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#Issue_Company_Establishment_Card_Visas\" >Issue Company Establishment Card &amp; Visas<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#GROWTH_OPPORTUNITIES\" >GROWTH OPPORTUNITIES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#COMMON_MISTAKES_COMPLIANCE_RISKS\" >COMMON MISTAKES &amp; COMPLIANCE RISKS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/www.creationbc.com\/en-sa\/news\/setting-up-a-financial-company-in-saudi-arabia\/#CONCLUSION\" >CONCLUSION<\/a><\/li><\/ul><\/nav><\/div>\n<p>[vc_row][vc_column][vc_column_text]<em><strong>This article has been researched and written by the Business Development Team at Creation Business Consultants. AI has not been used in generating this article.<\/strong><\/em><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Saudi&#8217;s financial sector is growing fast, and this is because of Vision 2030&#8217;s strategic emphasis on pushing economic diversification and plans to establish the KSA as a premier global financial centre.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Last March 2025, the asset management industry grew to USD $295 in assets under management (AUM) and this shows an average annual increase of 12% over the last ten years, making Saudi Arabia the number one market in the GCC. This was achieved due to the influx of foreign investments and changes in the regulatory framework.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The growth of the digital sector in the country, as reflected by the fintech market, which is valued at $2.85 billion in 2025, has set its sights on reaching $5.28 billion by 2030 with a 13.08% compound annual growth rate (CAGR), mainly due to the increasing adoption of digital payments and the development of new financial services through technology.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of late 2024, the market cap of the Tadawul All Share Index is reported to be $2.7 trillion, which is an impressive growth of 463% from 2014, and this also indicates that there is strong confidence among investors in the capital markets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The non-oil GDP grew by 4.9% in the first half of 2025, which is a clear indication of a major shift from oil dependence. Venture capital investments in the same period reached $860 million, which was a 116% increase from the previous year. Thus, the fintech sector reached a total of over 224 companies by mid-2024 due to all these factors working together.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These factors add to the future of the sector that will be characterized by sustainability and innovation. However, it poses a challenge for the banks, asset management, and the fintech sectors to hold onto their customers by offering diversification, technological advancement, and leveraging KSA\u2019s emerging role as the global investment hub. <\/span><\/p>\n<h3>Industry Statistics and Benchmarks<\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The <\/span><strong>financial sector<\/strong><span style=\"font-weight: 400;\"> experienced a <\/span><strong>14.1% growth in assets<\/strong><span style=\"font-weight: 400;\">, reaching SAR 4.8tn in Q2 2025.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Employment<\/strong><span style=\"font-weight: 400;\"> trends show a <\/span><strong>6.2% increase<\/strong><span style=\"font-weight: 400;\"> in the <\/span><strong>private sector<\/strong><span style=\"font-weight: 400;\">, resulting in a total of 144k jobs.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Capital requirements<\/strong><span style=\"font-weight: 400;\"> average <\/span><strong>SAR 50m<\/strong><span style=\"font-weight: 400;\"> for investment firms; <\/span><strong>operational costs SAR 8-25k<\/strong><span style=\"font-weight: 400;\"> annually.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">KPIs: Banks CAR 19.3%, ROI 3-5%; investment firms AUM growth 12%; insurance premiums 10% rise.<\/span><\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_btn title=&#8221;BOOK A FREE CONSULTATION&#8221; style=&#8221;3d&#8221; align=&#8221;center&#8221; i_align=&#8221;right&#8221; i_type=&#8221;typicons&#8221; i_icon_typicons=&#8221;typcn typcn-chevron-right&#8221; add_icon=&#8221;true&#8221; link=&#8221;url:%2Fen-sa%2Fcontact-us%2F&#8221;][vc_column_text]<\/p>\n<h2><span class=\"ez-toc-section\" id=\"TYPES_OF_FINANCIAL_INSTITUTIONS\"><\/span><span style=\"color: #039c7f;\"><b>TYPES OF FINANCIAL INSTITUTIONS<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Table 1: Financial Institutions in Saudi Arabia \u2014 Regulators and Permitted Activities<\/strong>[\/vc_column_text][vc_raw_html]%3Cstyle%20type%3D%22text%2Fcss%22%3E%40media%20screen%20and%20%28max-width%3A%20767px%29%20%7B.tg%20%7Bwidth%3A%20auto%20%21important%3B%7D.tg%20col%20%7Bwidth%3A%20auto%20%21important%3B%7D.tg-wrap%20%7Boverflow-x%3A%20auto%3B-webkit-overflow-scrolling%3A%20touch%3B%7D%7D%3C%2Fstyle%3E%0A%3Cdiv%20class%3D%22tg-wrap%22%3E%3Ctable%20style%3D%22border-collapse%3Acollapse%3Bborder-spacing%3A0%22%20class%3D%22tg%22%3E%3Cthead%3E%0A%3Ctr%3E%3Cth%20style%3D%22background-color%3A%23039C7F%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bcolor%3A%23FFF%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Bfont-weight%3Abold%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Acenter%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A700%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23FFF%3Bbackground-color%3Atransparent%22%3ETYPE%20OF%20FINANCIAL%20INSTITUTION%3C%2Fspan%3E%3C%2Fth%3E%3Cth%20style%3D%22background-color%3A%23039C7F%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bcolor%3A%23FFF%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Bfont-weight%3Abold%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Acenter%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A700%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23FFF%3Bbackground-color%3Atransparent%22%3EPRIMARY%20REGULATOR%3C%2Fspan%3E%3C%2Fth%3E%0A%3Cth%20style%3D%22background-color%3A%23039C7F%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bcolor%3A%23FFF%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Bfont-weight%3Abold%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Acenter%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A700%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23FFF%3Bbackground-color%3Atransparent%22%3EWHAT%20THEY%20CAN%20DO%20%28HIGH-LEVEL%29%3C%2Fspan%3E%3C%2Fth%3E%3C%2Ftr%3E%0A%3C%2Fthead%3E%0A%3Ctbody%3E%0A%3Ctr%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3ECommercial%20Banks%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3ESAMA%3C%2Fspan%3E%3C%2Ftd%3E%0A%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EDeposit-taking%2C%20lending%20%28retail%2Fcorporate%29%2C%20trade%20finance%2C%20remittances%2C%20payment%20services%2C%20digital%20banking%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EInvestment%20Banks%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3ECMA%20%28main%29%3B%20SAMA%20%28if%20banking-related%29%3C%2Fspan%3E%3C%2Ftd%3E%0A%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EDealing%2C%20arranging%2C%20advising%2C%20underwriting%2C%20M%26amp%3BA%20advisory%2C%20capital%20raising%20%28no%20deposit-taking%20unless%20SAMA-licensed%29%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EBrokerage%20Houses%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3ECMA%3C%2Fspan%3E%3C%2Ftd%3E%0A%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EExecuting%20trades%20%28agent%2Fprincipal%29%2C%20brokerage%20services%2C%20custody%20and%20safekeeping%20of%20securities%2C%20margin%20trading%2C%20client%20asset%20segregation%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EAsset%20Management%20Firms%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3ECMA%3C%2Fspan%3E%3C%2Ftd%3E%0A%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EPortfolio%20management%2C%20operating%20funds%2C%20discretionary%20investment%20management%2C%20suitability%20assessments%2C%20periodic%20valuations%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EInsurance%20%2F%20Takaful%20Operators%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3ESAMA%20%28Insurance%20Authority%29%3C%2Fspan%3E%3C%2Ftd%3E%0A%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EUnderwriting%20risks%2C%20claims%20processing%2C%20reinsurance%2C%20life%20and%20non-life%20products%2C%20Sharia-compliant%20Takaful%20models%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EFintech%20%2F%20Non-Bank%20Financial%20Institutions%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3ESAMA%3C%2Fspan%3E%3C%2Ftd%3E%0A%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EConsumer%20microfinance%2C%20debt%20crowdfunding%2C%20payment%20services%2C%20digital%20lending%2C%20sandbox%20testing%2C%20open%20banking%20APIs%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3C%2Ftbody%3E%3C%2Ftable%3E%3C%2Fdiv%3E[\/vc_raw_html][vc_column_text]<strong>Table 2: Licensing Scope and Minimum Capital Requirements by Institution Type<\/strong>[\/vc_column_text][vc_raw_html]%3Cstyle%20type%3D%22text%2Fcss%22%3E%40media%20screen%20and%20%28max-width%3A%20767px%29%20%7B.tg%20%7Bwidth%3A%20auto%20%21important%3B%7D.tg%20col%20%7Bwidth%3A%20auto%20%21important%3B%7D.tg-wrap%20%7Boverflow-x%3A%20auto%3B-webkit-overflow-scrolling%3A%20touch%3B%7D%7D%3C%2Fstyle%3E%0A%3Cdiv%20class%3D%22tg-wrap%22%3E%3Ctable%20style%3D%22border-collapse%3Acollapse%3Bborder-spacing%3A0%22%20class%3D%22tg%22%3E%3Cthead%3E%0A%3Ctr%3E%3Cth%20style%3D%22background-color%3A%23039C7F%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bcolor%3A%23FFF%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Bfont-weight%3Abold%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Acenter%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A700%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23FFF%3Bbackground-color%3Atransparent%22%3ETYPE%20OF%20FINANCIAL%20INSTITUTION%3C%2Fspan%3E%3C%2Fth%3E%3Cth%20style%3D%22background-color%3A%23039C7F%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bcolor%3A%23FFF%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Bfont-weight%3Abold%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Acenter%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A700%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23FFF%3Bbackground-color%3Atransparent%22%3EKEY%20LICENSES%20%2F%20PERMISSIONS%3C%2Fspan%3E%3C%2Fth%3E%0A%3Cth%20style%3D%22background-color%3A%23039C7F%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bcolor%3A%23FFF%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Bfont-weight%3Abold%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Acenter%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A700%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23FFF%3Bbackground-color%3Atransparent%22%3EMINIMUM%20CAPITAL%20%28SAR%29%3C%2Fspan%3E%3C%2Fth%3E%3C%2Ftr%3E%0A%3C%2Fthead%3E%0A%3Ctbody%3E%0A%3Ctr%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3ECommercial%20Banks%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EFull%20banking%20license%20%28deposit-taking%20permitted%29.%20Foreign%20branches%20allowed%20with%20parent%20guarantee.%20Basel%20III%20capital%20adequacy%20applies%20%28e.g.%2C%2020%25%20total%20ratio%29.%3C%2Fspan%3E%3C%2Ftd%3E%0A%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3E500%20million%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EInvestment%20Banks%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3ECMA%20licenses%3A%20Dealing%20%28principal%2Fagent%2C%20underwriting%29%2C%20Arranging%20%28M%26amp%3BA%20advisory%2C%20corporate%20finance%2C%20facilitating%20issuances%29%2C%20Advising%20%28investment%20recommendations%29.%3C%2Fspan%3E%3C%2Ftd%3E%0A%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3E50%20million%20%28dealing%2Farranging%29%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EBrokerage%20Houses%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3ECMA%20licenses%3A%20Dealing%20%28trade%20execution%20as%20agent%2Fprincipal%29%2C%20Custody%20%28safekeeping%2C%20reconciliation%29.%20Margin%20trading%20permitted%20%28e.g.%2C%2050%25%20initial%20margin%29.%3C%2Fspan%3E%3C%2Ftd%3E%0A%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3E50%20million%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EAsset%20Management%20Firms%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3ECMA%20license%3A%20Managing%20%28portfolio%20management%2C%20fund%20operation%2C%20discretionary%20investment%20services%29.%3C%2Fspan%3E%3C%2Ftd%3E%0A%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3E20%20million%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EInsurance%20%2F%20Takaful%20Operators%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EInsurance%20license%3A%20underwriting%2C%20claims%2C%20reinsurance.%20Takaful%20available%20for%20Sharia-compliant%20mutual%20insurance%20models.%3C%2Fspan%3E%3C%2Ftd%3E%0A%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3E100%20million%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%2300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class=\"ez-toc-section\" id=\"LEGAL_STRUCTURE_OWNERSHIP_REQUIREMENTS\"><\/span><span style=\"color: #039c7f;\"><b>LEGAL STRUCTURE &amp; OWNERSHIP REQUIREMENTS<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Business activities are listed under the <\/span><i><span style=\"font-weight: 400;\">Unified National Classification for Economic Activities (based on ISIC 4) and<\/span><\/i><span style=\"font-weight: 400;\"> are managed by the Ministry of Investment Saudi Arabia (MISA). Investors must select the right legal structure for their financial KSA company. The most common structures are a <\/span><i><span style=\"font-weight: 400;\">Limited Liability Company (LLC)<\/span><\/i><span style=\"font-weight: 400;\"> or a <\/span><i><span style=\"font-weight: 400;\">Branch of a Foreign Company<\/span><\/i><span style=\"font-weight: 400;\">. Each structure has different governance, tax implications, and rules.<\/span><\/p>\n<h4><strong>Minimum Capital Requirements by Financial Institution<\/strong><\/h4>\n<p>[\/vc_column_text][vc_raw_html]%3Cstyle%20type%3D%22text%2Fcss%22%3E%40media%20screen%20and%20%28max-width%3A%20767px%29%20%7B.tg%20%7Bwidth%3A%20auto%20%21important%3B%7D.tg%20col%20%7Bwidth%3A%20auto%20%21important%3B%7D.tg-wrap%20%7Boverflow-x%3A%20auto%3B-webkit-overflow-scrolling%3A%20touch%3B%7D%7D%3C%2Fstyle%3E%0A%3Cdiv%20class%3D%22tg-wrap%22%3E%3Ctable%20style%3D%22border-collapse%3Acollapse%3Bborder-spacing%3A0%22%20class%3D%22tg%22%3E%3Cthead%3E%3Ctr%3E%3Cth%20style%3D%22background-color%3A%23039C7F%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bcolor%3A%23FFF%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Bfont-weight%3Abold%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Acenter%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A700%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23FFF%3Bbackground-color%3Atransparent%22%3EFINANCIAL%20INSTITUTION%20TYPE%3C%2Fspan%3E%3C%2Fth%3E%3Cth%20style%3D%22background-color%3A%23039C7F%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bcolor%3A%23FFF%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Bfont-weight%3Abold%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Acenter%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A700%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23FFF%3Bbackground-color%3Atransparent%22%3EMINIMUM%20CAPITAL%20%28SAR%29%3C%2Fspan%3E%3C%2Fth%3E%3C%2Ftr%3E%3C%2Fthead%3E%0A%3Ctbody%3E%3Ctr%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3ECommercial%20Bank%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3E500%20million%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EInvestment%20Firm%20%28dealing%2Fcustody%29%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3E50%20million%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EAsset%20Management%20Firm%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3E20%20million%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EInsurance%20Provider%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22border-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3E100%20million%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%0A%3Ctr%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3EFintech%20%2F%20Non-Bank%20Financial%20Institution%3C%2Fspan%3E%3C%2Ftd%3E%3Ctd%20style%3D%22background-color%3A%23D9D9D9%3Bborder-color%3Ablack%3Bborder-style%3Asolid%3Bborder-width%3A1px%3Bfont-family%3Ainherit%3Bfont-size%3A14px%3Boverflow%3Ahidden%3Bpadding%3A10px%205px%3Btext-align%3Aleft%3Bvertical-align%3Atop%3Bword-break%3Anormal%22%3E%3Cspan%20style%3D%22font-weight%3A400%3Bfont-style%3Anormal%3Btext-decoration%3Anone%3Bcolor%3A%23000%3Bbackground-color%3Atransparent%22%3E5%20million%3C%2Fspan%3E%3C%2Ftd%3E%3C%2Ftr%3E%3C%2Ftbody%3E%3C%2Ftable%3E%3C%2Fdiv%3E[\/vc_raw_html][vc_column_text]<span style=\"font-weight: 400;\">The ownership rules will be different for foreigners, and this depends on the legal structure and license type. Most business activities allow 100% foreign ownership in the finance sector via MISA approval. This requires an application, business plan, and financials. Shareholding and governance structures mandate diversified ownership for JSCs (minimum 5 shareholders), a board with at least 3 members, including independents, fit and proper checks for executives.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"EXTERNAL_APPROVALS_REGULATORY_LICENSES\"><\/span><span style=\"color: #039c7f;\">EXTERNAL APPROVALS &amp; REGULATORY LICENSES<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Saudi_Central_Bank_SAMA\"><\/span><strong>Saudi Central Bank (SAMA)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The SAMA licensing process for banks and non-banking institutions includes pre-application consultation and formal submission with a business plan and capital proof. The review process requires between six and twelve months to complete, which results in conditional approval after an operational readiness evaluation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The &#8220;fit and proper&#8221; criteria require shareholders, board members, and executives to have clean records, financial soundness, and relevant professional experience, with integrity assessments conducted by SAMA. The capital rules establish a minimum adequacy ratio of 20%, which requires independent board governance and strong risk management systems to control credit risk, market risk, and operational risk.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A financial institution company in KSA must fulfill their ongoing obligations by submitting quarterly financial reports together with risk disclosures and anti-money laundering compliance documentation.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Capital_Market_Authority_CMA\"><\/span><strong>Capital Market Authority (CMA)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">CMA licensing is needed for all types of investment management firms, asset managers, and financial brokerages which have categorized activities such as dealing, custody, managing, arranging, and advising. The company application needs to have a detailed business plan and capital proof; the review process and approval can take around 3-6 months. Note this is a separate process from the MISA\/Ministry of Commerce (MoC) applications.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The key business activity categories include asset management, which requires (SAR 20m capital), and dealing\/custody, which requires (SAR 50m), along with inspections for operational readiness, such as IT systems and compliance. The minimum capital is a baseline, and depending on the specific business model or type, the authority may adjust it based on risk calculations. There will be a strong emphasis on robust compliance, AML, and risk management systems. Applicants must demonstrate \u201cfit and proper\u201d criteria for executives and officers, including current qualifications, experience, and no criminal records, via a police clearance certificate from their home country.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Ministry_of_Investment_MISA\"><\/span><strong>Ministry of Investment (MISA)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Foreign-owned companies will need MISA approval to get their license. A foreign company will need to complete the MISA application, business plan, financial documents, and proof of their one-year overseas operation, and other requirements the authority may request. The post-2025 reforms eliminate license fees, and the processing time for applications takes between three and six weeks. The restrictions apply to sensitive sectors, which need extra approval, and the documentation requirements include entity information, investment plans, and compliance declarations.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Other_Regulatory_Bodies\"><\/span><strong>Other Regulatory Bodies<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The MoC handles commercial registration post-MISA application, and this includes the company name reservation, articles of association, which are normally completed within a 1\u20132-week timeframe (subject to authority approvals). The AML\/CTF regulations implemented by SAMA\/CMA require organizations to perform KYC and transaction monitoring while reporting activities to the Financial Intelligence Unit (FIU).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Saudi Data &amp; AI Authority (SDAIA) Personal Data Protection Law in Saudi Arabia (PDPL) establishes data protection standards that require sensitive data to be stored locally while organizations conduct Data Protection Impact Assessment (DPIA). The organization implements cybersecurity measures that conform to SAMA&#8217;s Cybersecurity Framework through its threat control and incident reporting system. The Insurance Authority supervises Takaful operations through its licensing process, which parallels SAMA requirements that mandate SAR 100m capital.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"OPERATIONAL_COMPLIANCE_REQUIREMENTS\"><\/span><span style=\"color: #039c7f;\">OPERATIONAL &amp; COMPLIANCE REQUIREMENTS<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Governance_Risk_Management\"><\/span><strong>Governance &amp; Risk Management<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The board needs to have at least 3 members, who must include one-third independent members, while local members and diverse members must meet CMA\/SAMA rules. The company requires both internal controls and audit committees to conduct quarterly assessments, which need independent verification. The organization uses risk management frameworks, which include credit provisioning, market VAR models, and operational business continuity management (BCM) management to meet Basel III standards. The organization provides annual governance reports to SAMA\/CMA for compliance and reporting purposes.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Capital_Funding_Requirements\"><\/span>Capital &amp; Funding Requirements<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Minimum capital for commercial banks is SAR 500m, investment firms (for dealing) &#8211; SAR 50m, asset managers &#8211; SAR 20m, insurance &#8211; SAR 100m, and fintech &#8211; SAR 5m. The capital adequacy ratios require a total of 20% according to the Saudi Arabian Monetary Agency&#8217;s (SAMA) implementation of Basel III standards. Shareholder contributions must be fully paid, with liquidity at 20% liquidity coverage ratio (LCR). The SAMA scheme provides banks with reserve and deposit insurance protection.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Location_Operational_Setup\"><\/span><strong>Location &amp; Operational Setup<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">SAMA and CMA need to approve all branches that belong to the main office in Saudi Arabia. Foreign banks need to provide parent guarantees for their branch operations. MoC requires commercial registration after the MISA process, which includes name reservation and document submission to be completed within one to two weeks. The premises fit out includes secure facilities that meet SAMA cybersecurity standards for protected areas.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Saudization_Human_Capital\"><\/span><strong>Saudization &amp; Human Capital<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Saudization (Nitaqat) quotas require at least 40% Saudi nationals in consulting\/finance. The entire system uses different color codes to show how organizations comply with regulations, which also impact their visa applications. Saudi nationals must hold key positions, which include CEO and compliance officer, according to established quotas. The organization sources its talent through the Ministry of Human Resources and Social Development (MHRSD) portals and training programs. The organization must submit its regulatory reports, which include Nitaqat updates, to MHRSD on a quarterly basis.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Accounting_Reporting_Tax_Compliance\"><\/span><strong>Accounting, Reporting &amp; Tax Compliance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Corporate tax at 20% is applied to non-Saudi shareholders, Zakat for Saudis is 2.5%, and VAT at 15% is charged on services. SAMA\/CMA regulatory reporting includes quarterly financials and capital\/risk reports. International Financial Reporting Standards (IFRS) adoption by listed companies and banks is compulsory. Annual internal or external audits are mandatory.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"IT_Cybersecurity_Data_Protection\"><\/span><strong>IT, Cybersecurity &amp; Data Protection<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Data storage follows SDAIA&#8217;s PDPL, which is the requirement of local hosting for sensitive data and DPIAs. Cybersecurity follows SAMA&#8217;s Framework with controls, incident response, and yearly assessments as standards. Digital banking requires secure APIs and compliance with SAMA&#8217;s fintech regulations.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"LICENSING_APPROVAL_PROCESS\"><\/span><span style=\"color: #039c7f;\">LICENSING &amp; APPROVAL PROCESS<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Choose_Your_Legal_Structure\"><\/span><strong>Choose Your Legal Structure<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The economic activities are categorized according to the Unified National Classification for Economic Activities (based on ISIC 4), managed by MISA. The investors must also choose a legal structure, typically a Limited Liability Company (LLC) or a Branch of a Foreign Company.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Each structure has different governance and tax implications under the Companies Law (Royal Decree No. M\/132 of 2016, as amended in 2022). For example, a professional services firm generally needs a Service License with limited liability status, while a trading entity may need a Commercial License, with varying minimum capital requirements. Getting clarity at this stage will ensure that the MISA licensing and the MoC registration criteria are met.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Draft_Articles_of_Association\"><\/span><strong>Draft Articles of Association<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The <\/span><i><span style=\"font-weight: 400;\">Articles of Association (AoA)<\/span><\/i><span style=\"font-weight: 400;\"> outline the company\u2019s internal management system, including shareholder ownership percentages, initial capital contributions, profit distribution, and management hierarchy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The AoA must be drafted in Arabic and notarised either by a Saudi notary public or via the <\/span><i><span style=\"font-weight: 400;\">Unified Electronic Articles of Association System<\/span><\/i><span style=\"font-weight: 400;\"> on the <\/span><i><span style=\"font-weight: 400;\">Meras<\/span><\/i><span style=\"font-weight: 400;\"> platform. <\/span><i><span style=\"font-weight: 400;\">Companies Law<\/span><\/i><span style=\"font-weight: 400;\"> requires the AoA to define a company&#8217;s objectives, its registered address, and shareholding structure. The AoA becomes a legally binding document of the company after its notarization.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Obtain_MISA_Investment_License\"><\/span><strong>Obtain MISA Investment License<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The foreign investors must obtain an Investment License from the Ministry of Investment of Saudi Arabia (MISA), which permits foreign ownership.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The application process is conducted through the Invest Saudi portal and includes submission of the parent company&#8217;s incorporation documents, last year&#8217;s audited financial statements, and a notarised board resolution that sanctions the investment in Saudi Arabia. MISA verifies the financial standing of the foreign entity, its global operations, and compliance with the Foreign Investment Law <\/span><i><span style=\"font-weight: 400;\">(Royal Decree No. M\/1 of 2000)<\/span><\/i><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The license, once granted, provides the foreign investor with the legal status to continue with the company registration process and to request commercial registration from the MoC.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Register_with_the_MoC\"><\/span><strong>Register with the MoC<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">After MISA approval, submit the notarised AoA, MISA license, shareholder identification, and proof of a registered office to the MoC. This results in the issuance of the <\/span><i><span style=\"font-weight: 400;\">Commercial Registration (CR)<\/span><\/i><span style=\"font-weight: 400;\"> certificate, Saudi Arabia\u2019s equivalent of a company incorporation certificate. Once issued, the CR is publicly searchable on the <\/span><i><span style=\"font-weight: 400;\">MoC Business Register<\/span><\/i><span style=\"font-weight: 400;\">. The company is now legally incorporated and recognized under Saudi law.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Register_for_ZATCA_Tax_VAT\"><\/span><strong>Register for ZATCA Tax &amp; VAT<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The company must register with the <\/span><i><span style=\"font-weight: 400;\">Zakat, Tax, and Customs Authority (ZATCA)<\/span><\/i><span style=\"font-weight: 400;\"> for <a href=\"https:\/\/www.creationbc.com\/en-sa\/tax-consultants\/corporate-tax\/\">income tax<\/a>, <a href=\"https:\/\/www.creationbc.com\/en-sa\/tax-consultants\/vat\/\">VAT<\/a>, and Zakat obligations. Non-Saudi-owned businesses pay corporate tax at 20%, while Saudi-owned entities pay 2.5% zakat on net worth. As soon as the annual taxable supplies rise over SAR 375,000, VAT registration becomes a requirement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The process of registration, done through ZATCA\u2019s Electronic Real Estate Asset Database (ERAD) system online, calls for submission of the CR, MISA license, and bank details. Tax Identification Number (TIN) is issued by ZATCA, and it is required to be on all invoices and official correspondence.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Registration noncompliance or hold-up in VAT filings can lead to administrative penalties as stipulated under the Tax Procedures Law (Royal Decree No. M\/113 of 2017).\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Open_Corporate_Bank_Account\"><\/span><strong>Open Corporate Bank Account<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">When the tax registration procedure is finished, the business is required to <a href=\"https:\/\/www.creationbc.com\/en-sa\/corporate-banking\/\">open a corporate banking account<\/a> with one of the approved financial institutions in Saudi Arabia. According to the Saudi Arabian Monetary Authority (SAMA) rules, banks must do extensive Know Your Customer (KYC) and anti-money laundering (AML) checks. The company cannot deposit the paid-up capital (if any) and conduct financial operations until the account is ready. The top banks that facilitate such accounts include the Saudi National Bank (SNB), Al Rajhi Bank, and Riyadh Bank, all having special divisions catering to foreign-owned corporate accounts.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Set_Up_E-Invoicing_Digital_Compliance\"><\/span><strong>Set Up E-Invoicing &amp; Digital Compliance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The company must comply with ZATCA e-invoicing regulations after opening the corporate bank account, which mandates all taxable entities to issue, store, and report invoices electronically. The company needs to have its invoice software integrated with ZATCA\u2019s FATOORA platform for instant clearance and reporting. Compliance requires secure archiving of all invoices for a minimum of six years, following the data retention policy. To set up compliant systems, security standards, and staff training, companies generally hire our team to assist and implement a ZATCA-approved solution. Non-compliance may result in penalties, VAT suspension, or business limitations.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Secure_Office_Lease_Municipality_License\"><\/span><strong>Secure Office Lease &amp; Municipality License<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Every company that operates in Saudi Arabia must have a physical address in the country. Investors must lease office premises compliant with municipal zoning regulations and register the lease contract on the <\/span><i><span style=\"font-weight: 400;\">Ejar<\/span><\/i><span style=\"font-weight: 400;\"> electronic system operated by the <\/span><i><span style=\"font-weight: 400;\">Ministry of Municipal and Rural Affairs and Housing (MoMRAH)<\/span><\/i><span style=\"font-weight: 400;\">. The benefit of using Creation Business Consultants is that we can provide a cost-efficient office solution via our <a href=\"https:\/\/www.creationbc.com\/en-sa\/business-centre\/\">business center in Riyadh<\/a>. We have the option of business national address, virtual office, flexi-desk, and ready-to-operate serviced offices. These solutions will save time and money rather than paying for a large professional space to comply with this law. Once this step is complete, the company must then apply for a <\/span><i><span style=\"font-weight: 400;\">Municipality License<\/span><\/i><span style=\"font-weight: 400;\"> (Baladiyah License), which authorizes commercial use of the premises. This license is needed for the renewal of the Chamber of Commerce certificate and the visa quota issuance by the MHRSD.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Issue_Company_Establishment_Card_Visas\"><\/span><strong>Issue Company Establishment Card &amp; Visas<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The last step is to get the Company Establishment Card from the General Directorate of Passports (Jawazat), which gives the company the right to hire foreign employees and their dependents under the Iqama system. The card carries the company&#8217;s immigration file number and must be renewed annually. Through the Qiwa and Muqeem platforms, the company can <a href=\"https:\/\/www.creationbc.com\/en-sa\/visa-services\/\">apply for work visas<\/a>, sign employment contracts, and check Saudization compliance. This step gives the company the right to operate, recruit, and make contracts, which is the last stage of a Saudi mainland company&#8217;s establishment process.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"GROWTH_OPPORTUNITIES\"><\/span><span style=\"color: #039c7f;\">GROWTH OPPORTUNITIES<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Fintech and digital banking, among other services, are expected to create a market of USD 6.7bn by 2032 and host 525 fintech companies by 2030 under Vision 2030. The trend of foreign investments reached SAR 12.2bn in venture capital (VC), and cross-border fund passporting is facilitating access further. Vision 2030 supports the development of new technology by making the economy and the region a global hub for innovation.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"COMMON_MISTAKES_COMPLIANCE_RISKS\"><\/span><span style=\"color: #039c7f;\">COMMON MISTAKES &amp; COMPLIANCE RISKS<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Common issues include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Longer licensing periods caused by incomplete documents, requiring full doc submission.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Not abiding by Saudization or AML\/KYC leads to implications such as fines and visa blocks.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Poor governance\/risk policies cause delisting.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Concerns over cybersecurity\/data protection result in SAMA\/SDAIA penalties.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Failing to report to SAMA\/CMA\/MISA incurs sanctions.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"CONCLUSION\"><\/span><span style=\"color: #039c7f;\">CONCLUSION<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Saudi\u2019s financial sector offers many opportunities for foreign investors. With clear regulations, rapid growth prospects, and Vision 2030\u2019s backing. Now is the time to <a href=\"https:\/\/www.creationbc.com\/en-sa\/company-formation-saudi-arabia\/\">set up your Saudi company<\/a> and establish your presence, but only with careful planning and compliance.<\/span><\/p>\n<p><strong>Do you need help setting up your financial company in Saudi Arabia?<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Reach out to our team at Creation Business Consultants, and we can guide you through licensing, regulatory approvals, governance setup, and operational compliance, ensuring a smooth market entry into the Kingdom. Contact us today at <\/span><a href=\"mailto:info@creationbc.com\"><b>info@creationbc.com<\/b><\/a><span style=\"font-weight: 400;\"> to get your finance company started.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/6&#8243;][vc_single_image image=&#8221;12266&#8243; alignment=&#8221;center&#8221; style=&#8221;vc_box_circle_2&#8243;][\/vc_column][vc_column width=&#8221;1\/6&#8243;][vc_column_text]<strong><a href=\"https:\/\/www.creationbc.com\/scott-cairns\/\">Scott Cairns<\/a>, <\/strong><br \/>\n<strong>Managing Director<\/strong><\/p>\n<p><a href=\"https:\/\/www.linkedin.com\/in\/scott-cairns-5001a95\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-6611\" src=\"https:\/\/www.creationbc.com\/wp-content\/uploads\/2019\/11\/download.png\" alt=\"\" width=\"37\" height=\"37\" title=\"\" srcset=\"https:\/\/www.creationbc.com\/wp-content\/uploads\/2019\/11\/download.png 225w, https:\/\/www.creationbc.com\/wp-content\/uploads\/2019\/11\/download-150x150.png 150w, https:\/\/www.creationbc.com\/wp-content\/uploads\/2019\/11\/download-80x80.png 80w\" sizes=\"auto, (max-width: 37px) 100vw, 37px\" \/><\/a>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/6&#8243;][\/vc_column][vc_column width=&#8221;1\/6&#8243;][\/vc_column][vc_column width=&#8221;1\/6&#8243;][\/vc_column][vc_column width=&#8221;1\/6&#8243;][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]This article has been researched and written by the Business Development Team at Creation Business Consultants. AI has not been used in generating this article. &nbsp; Saudi&#8217;s financial sector is growing fast, and this is because of Vision 2030&#8217;s strategic emphasis on pushing economic diversification and plans to establish the KSA as a premier global [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":23317,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[98],"tags":[],"class_list":["post-23308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sa-company-setup"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.creationbc.com\/en-sa\/wp-json\/wp\/v2\/posts\/23308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.creationbc.com\/en-sa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.creationbc.com\/en-sa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.creationbc.com\/en-sa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.creationbc.com\/en-sa\/wp-json\/wp\/v2\/comments?post=23308"}],"version-history":[{"count":11,"href":"https:\/\/www.creationbc.com\/en-sa\/wp-json\/wp\/v2\/posts\/23308\/revisions"}],"predecessor-version":[{"id":23322,"href":"https:\/\/www.creationbc.com\/en-sa\/wp-json\/wp\/v2\/posts\/23308\/revisions\/23322"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.creationbc.com\/en-sa\/wp-json\/wp\/v2\/media\/23317"}],"wp:attachment":[{"href":"https:\/\/www.creationbc.com\/en-sa\/wp-json\/wp\/v2\/media?parent=23308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.creationbc.com\/en-sa\/wp-json\/wp\/v2\/categories?post=23308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.creationbc.com\/en-sa\/wp-json\/wp\/v2\/tags?post=23308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}