First Steps for Establishment in the Kingdom of Saudi Arabia
Content:
The Kingdom of Saudi Arabia has witnessed increased interest from local and international investors in investing in the Saudi market during the recent period, as the Kingdom provides an attractive investment environment characterized by political and economic stability and ease of procedures.
The Ministry of Commerce and Investment has emphasized the importance of proper establishment of companies and commercial institutions in the Kingdom, as this contributes to ensuring that business operations are conducted legally and in an organized manner according to the applicable systems and regulations.
The most important first steps for establishment in the Kingdom include:
1- Choosing a commercial name for the company or institution and verifying its availability at the Ministry of Commerce.
2- Determining the type of commercial activity and field of work.
3- Determining the legal form of the company (individual institution, partnership company, joint-stock company, etc.).
4- Preparing the articles of incorporation and the company’s bylaws.
5- Obtaining the commercial register and activity practice permits.
6- Opening a bank account in the company’s name.
Statistics indicate that the number of new commercial companies and institutions established in the Kingdom during the past year reached about 45,000 establishments, compared to 38,000 establishments in the previous year, an increase of 18%.
This increase comes amid the great efforts made by the Saudi government to improve the business environment and facilitate establishment procedures, through adopting initiatives such as “Invest in Saudi Arabia” and “Investor’s Guide.”
In conclusion, proper establishment of companies and commercial institutions in the Kingdom is a fundamental step to ensure business success and benefit from the promising investment opportunities provided by the Saudi market.
صحيفة عكاظ اليوم ، موقع إخباري شامل يهتم بتقديم خدمة صحفية متميزة للقارئ، وهدفنا أن نصل لقرائنا الأعزاء بالخبر الأدق والأسرع والحصري بما يليق بقواعد وقيم الأسرة السعودية، لذلك نقدم لكم مجموعة كبيرة من الأخبار المتنوعة داخل الأقسام التالية، الأخبار العالمية و المحلية، الاقتصاد، تكنولوجيا ، فن، أخبار الرياضة، منوعات و سياحة.
