The requirement for minimum
Posted: Sun Jan 19, 2025 9:05 am
Despite all the privileges and benefits, relocating to Saudi Arabia and registering a company is still an expensive pleasure for a young foreign startup.
As for duties and fees, the most significant of them is china telegram database the fee for a business license from the Ministry of Investment of Saudi Arabia (MISA), the cost of which starts from 12 thousand Saudi riyals or approximately $3,200.
In addition, to obtain it, it is necessary to provide a business plan and proof of the company's financial solvency: authorized capital for LLCs was canceled several years ago, but it is recommended to reserve at least 25 thousand in local currency, which is equal to $6,600, in accounts for a company in the service sector.
For a long time, registration fees were higher and the kingdom remained a difficult environment to do business in. However, in recent years, startups have begun to explore the local market, and I think we will soon be able to list many success stories of tech founders in the Saudi Arabian market.
Conclusions
For a startup considering Saudi Arabia as a landing spot, it is important to understand key aspects of the local business climate and use them to your advantage.
As for duties and fees, the most significant of them is china telegram database the fee for a business license from the Ministry of Investment of Saudi Arabia (MISA), the cost of which starts from 12 thousand Saudi riyals or approximately $3,200.
In addition, to obtain it, it is necessary to provide a business plan and proof of the company's financial solvency: authorized capital for LLCs was canceled several years ago, but it is recommended to reserve at least 25 thousand in local currency, which is equal to $6,600, in accounts for a company in the service sector.
For a long time, registration fees were higher and the kingdom remained a difficult environment to do business in. However, in recent years, startups have begun to explore the local market, and I think we will soon be able to list many success stories of tech founders in the Saudi Arabian market.
Conclusions
For a startup considering Saudi Arabia as a landing spot, it is important to understand key aspects of the local business climate and use them to your advantage.