“Invest in Saudi Arabia” is one of the most important marketing channels for the investment environment in the Kingdom.
This platform contributed to the advancement of the Kingdom of Saudi Arabia 29 places in the “Doing Business 2020” report issued by the World Bank, and contributed to an increase in new foreign investments in the Kingdom by 54% in 2019 compared to 2018.
Foreign investment licenses and procedures:
1/ In order to start commercial activity in the Kingdom, the person wishing to invest must first obtain a foreign investor’s license.
2/ The General Authority for Investment in the Kingdom is the body concerned with improving the investment environment and providing all services to investors.
3/ The types of investment licenses differ, and each has its own requirements, such as the acceptable minimum capital and the maximum foreign capital.
4/ Those wishing to invest can apply for a license online on the SAGIA portal and also benefit from the instant licensing service it provides.
Two types of investment:
1/ Investing in commercial activities, the capital must be 27 million or more
2/ Investing in service activities, maintenance contracting, stones do not require capital
Phases of investing in service activities:
The first phase:
Permanent residency valued at 800,000, its advantages: permanent residency for the person and family up to the age of 18 years and over, owning real estate in all parts of the Kingdom except for Makkah and Madinah, and it is possible to invest in Makkah and Madinah for a period of 99 years without permanent ownership, it is not required that you have a record in another country Even the record in the kingdom connects with him.
The second phase:
– The privileged residence, its annual value is 100,000, every two years 2% of its value is deducted, its advantages: the family pays for money, it is not required that you have a record,
Whether you have permanent or privileged residency, there is a license called the investment license that has nothing to do with residency. Its annual fee is 62 thousand, the first year one pays 12 thousand, and the next years 62 thousand.
The third phase:
A person who wants to invest in Saudi Arabia without obtaining residency
1/ You must have a commercial registry in any country, except for the excluded countries.
Here, a person can invest in Saudi Arabia while linking his commercial registration in Saudi Arabia with his commercial registration in the other country, with a Saudi partner with a partnership rate of at least 25%.
The investment license is paid as previously mentioned.
Iqama at this stage is sponsored by the company itself, with a financial fee.
– If a person has an investment license, he can open other activities, meaning a single investment license through which a person can open more than one service activity. But if the activities are commercial, the capital must be 27 million or more.
Saudi business center for Saudis and non-Saudis
A center concerned with facilitating the procedures for starting, conducting and terminating economic businesses and providing all related services and businesses and e-government services on one page, from issuing initial licenses to establishing companies and so on, in accordance with international best practices.
Center home page:
https://business.sa/AboutSBC/About.html