Bizgate - Company Setup in Saudi

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COMPANY SET UP IN SAUDI

  • The Kingdom of Saudi Arabia (“KSA”) is the largest Arab state and was founded in 1932.
  • KSA has a total population of 28.7 million, of which 20 million are KSA nationals and circa 8 million are foreigners.
  • KSA possesses approximately 20% of the world’s proven petroleum reserves. It ranks as the largest exporter of petroleum and plays a leading role in OPEC. The petroleum sector accounts for roughly 80% of budget revenues, 45% of GDP and 90% of export earnings.
  • The government continues to pursue economic reform, diversification and promoting foreign investment, particularly since KSA’s accession to the World Trade Organization (“WTO”) in December 2005.
  • The currency of KSA is the Saudi Arabian Riyal (SAR).
    In general, KSA Companies Law generally allows for eight forms of business entity structures on vows Bizgate vows to help you are as follows:
  • General Partnerships
  • Limited partnerships
  • Joint Ventures
  • Corporations
  • Partnerships Limited by Shares
  • Limited Liability Partnerships (LLCs)
  • Variable Capital Companies
  • Cooperative Companies (Joint Stock Company)

FOREIGN INVESTORS CAN OPERATE IN KSA THROUGH THE FOLLOWING STRUCTURES:

  • Commercial agencies
  • Limited liability companies
  • Joint stock companies
  • Foreign office branch
  • Technical and scientific offices (Representative Offices)

BIZGATE CAN ALSO PROVIDE ASSISTANCE ON MIDDLE EAST TAX & LEGAL PRACTICE WITH THE FOLLOWING AREAS:

  • Indirect taxation (VAT and customs) and fiscal reform
  • International taxation
  • Global mobility and Human Resource Services
  • Legal
  • Mergers and Acquisitions
  • Services for U.S. citizens and Green Card holders
  • Tax and Zakat advisory
  • Tax compliance, management and accounting services
  • Transfer pricing

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Mainland Company Setup

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Complete exemption from corporate tax
Possible to operate from UAE
No Capital requirements
No currency restrictions
Employment visa processing made simple
Repatriation of profits and capital
No audit requirements
Minimum responsibility and maximum benefits
Single person can open up an LLC
The maximum number persons or employees an LLC can have is 50
Corporate bank account in UAE
The UAE Companies law does not prescribed any minimum share capital but the entity should have adequete capital to achieve the incorporation purpose. Normally accepted minimum share capital for an LLC registered in Dubai was AED 100,000.

Presently, there is no requirements to deposite the share capital in UAE local bank.

Draft the MOA and AOA
Help in obtaining approval from DED
Registering the company name
Acquiring out an office space