Exploring a Thriving and Diversified Economy with Investor-Friendly Policies
Saudi Arabia has emerged as a vibrant destination to start a business. The country is home to enormous natural resources like oil and fuels, which have driven its economy for many years. In addition, it also houses robust industries in machinery, dairy products, and pharmaceuticals which makes for a vast and diverse economy.
Further enhancing Saudi Arabia’s business landscape are policies that open the economy to investments and new businesses, some of which are listed below. These make the Kingdom of Saudi Arabia the ideal place for investors in the Middle East.
Foreign companies can benefit from the many incentives Saudi Arabia offers businesses.
Saudi Arabia’s New Companies Law expands company types and improves LLCs’ financing. Monsha’at supports SMEs with incubators, accelerators, loans, and co-working spaces.
Saudi Arabia offers tax benefits with a 20% corporate tax rate and no personal income taxes. The standard VAT is 15%, with exemptions for exports and non-GCC services.
Saudi Arabia’s Vision 2023 aims for economic diversity, with non-oil sectors at 58.9% GDP. The kingdom supports SMEs and expands tourism, transport, and entertainment.
Saudi Arabia, the safest G20 nation in 2020, offers a high standard of living, low crime, and reasonable costs. It’s ideal for setting up a company for both GCC residents and foreigners.
The cost to start a business in Saudi Arabia varies based on several factors, including whether you are a GCC national or a foreign national. Additional considerations include the specific business activities, the number of shareholders involved, and the office space requirements. Understanding these variables can help you better estimate your overall business setup costs in Saudi Arabia. For a detailed estimate and personalized assistance, contact our experienced business setup advisor now!
Explore the Different Business Structures Available in Saudi Arabia
Discover the various business structures in Saudi Arabia: Joint Liability Companies, Limited Partnership Companies, Joint Stock Companies, Simple Joint Stock Companies, and Limited Liability Companies (LLCs). Each offers unique benefits and legal frameworks.
A joint liability company, or general partnership, is a simple entity in Saudi Arabia where two or more people share equal liability for the firm’s obligations.
In this company type, general partners have unlimited liability and manage the business, while limited partners’ liability is limited to their investment and they only invest.
Joint stock companies, owned by shareholders who buy and sell shares, provide steady funding.
Simple Joint Stock Companies cater to startups, allowing single-person setup, flexible boards, director pay, and various share classes.
An LLC is a common business type that limits owners’ liability to their share capital, protecting personal assets.
Saudi business formation needs specific documents in Arabic.
The business formation requirements in Saudi Arabia may depend on the nature of the company, but the following documents are best to prepare and must be submitted in Arabic.
Foreign companies can benefit from the many incentives Saudi Arabia offers businesses.
Connect with our sales experts to start your business in dubai.
ABOUT US
Set Hub, established in 2009, is a leading business setup consultancy in the UAE, known for nurturing successful entrepreneurial ventures.
CONTACT US
© 2024 Set hub. All rights reserved.
using any UAE bank card 
