GCC National Owned Investment in Saudi Arabia
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A business venture for GCC nationals like never before
Setting up a GCC Company is a unique investment opportunity presented to investors, who are nationals of other GCC countries, looking to set up fresh companies in KSA. BusinessLink can help with company formation in Saudi Arabia for GCC nationals. With a team of consultants specializing in business setup in Saudi Arabia in our UAE office and the business center in KSA, our business setup process is quick, easy, and efficient. We can have your business up and running in no time.
While GCC nationals can avail of the same benefits as KSA nationals, they are still prohibited from taking up certain business activities. These include consultancy, auditing and finance, insurance, manpower, engineering, aviation, or health consultancy.
Benefits of Setting up a GCC Company
- Easy and quick setup process
- For this setup, the GCC national will need license from the Ministry of Commerce and Industry.
- The GCC national has to pay only 2.5% corporate tax which is less compared to that of the foreign investors.
Documents required for a business run by a GCC national
- Passport copy
- National ID
- Proposed company name (In Arabic with Arabic meaning)
- Business activity
Process of company formation for GCC nationals
The following are the critical steps involved in the process of establishing your business setup in KSA.
Process of company formation for GCC locals
- Step 1: We initiate the process by collecting all the attested documents.
- Step 2: Once received, our team in Riyadh sends your documents for attestation to the MOFA.
- Step 3: Your trade name and business activities are sent for approval.
- Step 4: Once the trade name and activities are approved, they must be registered with the MOCI.
- Step 5: The signing of the MoA takes place at the KSA Notary.
- Step 6: Apply to the Ministry of Commerce for a Commercial Registration (CR) and pay.
- Step 7: An application is sent for registration with the Ministry of Human Resources and Social Development, and necessary payments are made.
- Step 8: We will apply for the office address.
- Step 9: We will register the company with ZAKAT (tax authority) and the general organization for social insurance (GOSI) and make payments.
- Step 10: We will assist you in applying for a bank account (Riyadh Bank)
- Step 11: We will help you with your visit to the Chamber of Commerce to activate the government portal.
- Step 12: You will get your new business's company stamp and mobile number.
Once all the steps have been taken care of, your business is ready to start its operations!
We at BusinessLink focus on simplifying your business setup process. If you’re a GCC national aspiring to establish a company in one of the strongest economies in the Middle East – here’s your chance! Get in touch, and let’s get working.