Saudi Arabia Company Registration Services
Saudi Arabia maybe one of the world’s largest economies, but it is also one of the most challenging places in the world to set up a business. This is primarily because government approval is required for every form of foreign investment in the country. It may be challenging, but it isn’t impossible, especially when you have the right Saudi Arabia company registration services team on your side like 3E Accounting.
Advantages of Registering a Company in Saudi Arabia
Every move that you make in business will have advantages and disadvantages that come with it. The same thing goes when it comes to registering a company in Saudi Arabia. What are the advantages that’s stand to gained, and what disadvantages can entrepreneurs come to expect when it comes to Saudi Arabia company registration? Let’s take a look at the advantages first.
The advantages of Saudi Arabia company registration include the following:
- Foreign companies get to enjoy an exemption from customs duties on the import of machinery, equipment, tools and any other spare parts which are needed for industrial projects.
- Foreign companies enjoy the benefit of being allowed to bid for Government contracts and operate in Saudi Arabia even if they do not have an agent or a partner.
- Foreign companies that set up in Saudi Arabia enjoy the benefits of labour saving equipment and services.
- Foreign companies are provided with staff training services.
The disadvantages of Saudi Arabia company registration include the following:
- Foreign companies need to be prepared to deal with all the government red tape, bureaucracy, and corruption that is in Saudi Arabia. This could result in unnecessary delays when it comes to establishing a company.
- Business practices and laws in Saudi Arabia still tend to favor the local citizens.
- Foreign companies are not allowed to import goods for resale and direct commercial marketing. Saudi agents or distributors must be appointed to handle this aspect.
- The company incorporation time in Saudi Arabia can take up to 9 weeks to complete.
Business Entities in Saudi Arabia to Choose From
The company law in Saudi Arabia recognises four types of business entities. The recognised business entities are the limited liability company entity, the joint stock company entity, a partnership entity, and the branch of a foreign company entity.
Becoming shareholders in these business entities will require foreigners to obtain it foreign capital investment licence from the Saudi Arabian General Investment Authority.
Why You Need Saudi Arabia Company Registration Services
Because the company registration process in Saudi Arabia can be more challenging than anticipated, it is a good idea to seek the help of professional company registration services to help foreign investors navigate the tricky waters of registering a business in this country.
Professional company registration services like 3E Accounting have the knowledge, experience, expertise, and the connections needed to help make the Saudi Arabia company registration process in much easier one to deal with. Need some help? Contact 3E Accounting today for more information on how to get started.