04 May Establishing a company in Saudi Arabia – conditions and activities
Establishing a company in Saudi Arabia
The Kingdom of Saudi Arabia is making great efforts to develop and develop the economy. It seeks to be an investment destination that stimulates development and expansion. For this reason, it is working to create special government departments that take care of investors and help them access distinctive investment opportunities . In addition to providing many facilities and services in order to encourage investment .
If you want to start your investment in the Kingdom of Saudi Arabia , there are many areas that you can invest in, in addition to the diversity and multiplicity of forms of companies and activities that you can engage in.
And if you are looking for help, Etqan is here for this reason. You can contact us for an assistant.
But first, get acquainted with us in this article on the fields and conditions of investment, companies and activities that you can practice in the Kingdom of Saudi Arabia .
Conditions for licensing to establish a company in Saudi Arabia:
- Owning an entity established outside the Kingdom of Saudi Arabia.
- Experience of not less than three years in the same activity
- Documented intellectual rights for people who own patents and scientific content.
Types of companies that can be established in Saudi Arabia:
In the same context, You must review the types and forms of companies in accordance with Saudi law. This will help you make a decision about the type of license and the activity you want to practice…
A limited liability company
In this type of company minimum of two partners. Each of the partners shall bear the debts of the company in proportion to their shares in the capital. This type of company cannot be established through public subscription. There is also no minimum capital.
This type of company consists of two or more partners, provided that they are joint partners in all their funds for the company’s debts. The name of the partnership companies consists of the name of one or more partners associated with the word partners. The company may also have a commercial name without mentioning the names of the partners.
Incorporation of a limited partnership company
It is a company established between two teams of partners. The first party includes a joint partner responsible for the company’s debts and obligations. As for the other party, it must include at least one partner who is a testator and is not responsible for the company’s debts and obligations except within the limits of his own share in the company’s capital. Also, this partner does not acquire the status of a merchant.
Establishment of a joint stock company in Saudi Arabia
On the other hand, in this type of company the capital is divided into a group of shares of equal value that are negotiable. In other words, each partner is responsible for the debts of the company to the extent of the shares he holds. The name of the company is not derived from the gestures of the partners. But from the purpose for which it was created. The number of shareholders in a joint-stock company may not be less than five partners.
Our services in the Kingdom of Saudi Arabia
In the same context, Itqan offers you a set of services that make it easier for you to establish your business in the Kingdom of Saudi Arabia, Which helps you save time and effort and gives you the opportunity to devote yourself to your work. Our services in Saudi Arabia:
- Establishing companies and starting businesses
- Commenting on transactions with all administrative agencies at government agencies
- Follow up the progress of all transactions, procedures and licenses.
- Renewal of company documents and licenses
In conclusion, to obtain advice on incorporation in the Kingdom of Saudi Arabia or in any country of the Gulf Cooperation Council, you can contact us now. We are available around the clock to assist you.