Foreign Company Establishment

Service Description Meeting with you -on behalf of the partners- and determining the necessary provisions, the most important of which are the following:

1.           The scope and activities of the company according to the ISIC classification 4;

2.           Partnership parties, and their shares in the capital;

3.           The legal form of the company;

4.           The company’s capital;

5.           Determine the term of the license;

6.           The commercial name – the initial – of the company;

7.           A proof agency to do all that is necessary for that.

8.           Issuance of an investment license from the Ministry of Investment [the government fees will be 2000 riyals for each year], after obtaining the necessary documents, including:

9.           CR for the foreign company;

10.        The financial statements of the last financial year of the foreign company.

11.        Activating e-services necessary for the foreign company [the government fees will be 10,000 riyals for the first year, and 60,000 riyals for each subsequent year];

12.        Meeting with you -on behalf of the partners- and determining all that needs to be stated in the Memorandum of Association [“MoA”];

13.        Issuance of the MoA, through the Ministry of Investment;

14.        Documenting the MoA by the Ministry of Commerce through the Notary Public at the Ministry of Investment, to activate the e-services of the Ministry of Commerce;

15.        Publish the MoA online [there will be government fees that are not high, which will be determined based on the nature of the investment and the company].

16.        Obtaining the necessary license in the specified activities of the company from the competent government authority.

17.        Issuance of the commercial register (CR), from the Ministry of Commerce, and the identification of alternative options -if necessary-.

18.        Registration in the Chamber of Commerce [there will be low fees for this that are determined based on the nature of the investment and the company].

19.        Enabling government e-services platforms -not mentioned above- and verifying its completion (GOSI, Moqeem, Qiwa).

Requirements –          CR of the mother company (if there)

–          Passport of the investor

–          KYC

–          Singed Engagement Letter.

–          Bank receipt for the service fee to Alburhan Law Firm

Conditions –          The meeting must be during the period based of the Counsel request.

–          The Decision Maker of you is to be attended all meetings.

Stage Implementation (establishment)
Period 16 working days.
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