How to Get Trade License in Saudi Arabia

Starting a company in Saudi Arabia is not easy as you will have to make an application for the necessary documents. Whether you are an expert or a local citizen, it may be simple for you.

But in case you are a foreign citizen looking to make an investment or initiate a business in Saudi Arabia, it is vital to have access to a trade license in Saudi Arabia. Business setup consultants like Start Any Business will assist you in getting the right business license for your business.

The Saudi Arabian General Investment Authority is responsible for delivering a business license in Saudi Arabia. Therefore, you will have to initiate all the business standards established by the departments. In case you are a foreign citizen you need to contact business consultants as they assist you in acquiring a trade license.

Understanding Types of Business Licenses in Saudi Arabia

1. Service License

The service license in this country allows overseas citizens or corporations to deliver different services like technology, education, construction, tourism, and healthcare with full ownership. The investor is vital to have a formed business in another nation for more than one year and present certified copies of Commercial Registration and Financial records from the past year. This license empowers overseas investors to extend their business functions in Saudi Arabia.

2. Industrial License

The industrial license permits overseas investors to start a manufacturing company. It promotes strategic acquisitions to support vibrant evolution in the industrial sector. Requirements comprise having an established company beyond of border of Saudi Arabia for over one year and, a minimum acquisition of SAR 25,000.

3. Commercial License

The commercial license permits investors to be involved in retail or wholesale business either independently or with full ownership. To run a company in this country, you must have three branches in another nation. A SAR 30m investment is required. SAR 170m capital is required to be invested in the next five years in the Saudi Business.

4. Professional License

A professional license in Saudi Arabia permits investors to run their business with certain activities such as consultancy, architecture, engineering, and advisory services. Overseas professionals can hold full ownership of the company. It is vital to have a minimum of a 25% local partner with extensive experience in the sector.

The Process to Obtain a Trade License in Saudi Arabia

If you wish to get a trade license in Saudi Arabia, you will need to research the available options for you. As per the specialists, certain typical things to bear in mind prior to applying for a trade license in this country comprise the following –

1. Reserving the Name

The Ministry of Commerce and Industry will play a vital part in trade name registration. You just need to understand the rules set by the government of Saudi Arabia for business name registration. You can also get the assistance of a skilled and seasoned business setup consultant for the same.

2. Initial Approval

Getting pre-approval is mandatory in presenting your business plan and decided location. This page evaluates the feasibility of your business and its adherence to regional rules and regulations.

3. Legal Documentation

Gather all the necessary documents, comprising the Memorandum of Association, Article of Association of your company, and lease contract for the business premises.

4. Licensing and Registering

When it comes to registering and get a trade license in Saudi Arabia, limited liability companies are the easiest to apply for. You should understand the rules and regulations for the registering and licensing process. You can hire a business consultant who can guide you through the registration and licensing procedure. SAGIA/MISA can eventually assist you with overseas acquisitions. Although the procedure can be extended up to 15 years for achieving the trade license.

Get a Business License in Saudi Arabia

Are you looking to get a business license in Saudi Arabia? Start Any Business experts are here to navigate the complications of licensing processes in this country. We will guide you throughout the entire procedure smoothly, making sure adherence and effectiveness at each phase. By getting a trade license in Saudi Arabia you are able to run your business legally. You can run your desired activities without any hassle. You can follow the above mentioned details or connect with our consultants to make a successful mark in this vibrant country.