Saudi Arabia is the largest Arab state, and accounts for the majority of the Arabian Peninsula. It is bordered by Jordan and Iraq to the north and northeast, Yemen to the South, Oman to the southeast, the Red Sea to the west, and Kuwait, Qatar, Bahrain, the UAE, and the Persian Gulf to the east. The capital city of Saudi Arabia is Riyadh and the currency is the Saudi Riyal (SAR). The language is Arabic, and English is also commonly used in business. Saudi Arabia’s economy is based on its oil industry, and it is encouraging diversification in other areas, particularly the private sector in order to reduce reliability on its oil reserves.
- TYPE OF COMPANY: Limited Liability Company
- COMPANY LAW: Companies Law
- SUFFIX TO DENOTE LIMITED LIABILITY: LLC
- DIRECTORS: Minimum of two, can be of any residency or nationality – we can provide
- SHAREHOLDERS: Minimum of two, either natural persons or corporate entities, can be of any nationality we can provide
- CLASSES OF SHARE: Registered
- CAPITAL REQUIREMENTS: Varies depending on the business sector. Fully paid up share capital minimum requirements between 100,000 SAR and upwards of 30 million SAR
- OWNERSHIP: 100% Foreign ownership allowed
- TIME TO INCORPORATE: One month
- REGISTERED OFFICE: Required in Saudi Arabia – we can provide
- ANNUAL RETURN: Yes
- ACCOUNTS: Yes
- DISCLOSURE: Yes
- TAXATION: Varies between 25% and 45%, in some cases, a 10 year exemption from tax can be approved
- DOUBLE TAXATION TREATIES: 5
- LANGUAGE OF DOCUMENTATION: Arabic with certified English translation
If you would like further information on setting up a company in Saudi Arabia or the formation of a Saudi Arabia company or other Saudi Arabia corporate entities or require professional advice relating to taxation or the structuring and requirements of a Saudi Arabia company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in Saudi Arabia.
We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.