LLCs are one of the most common types of businesses. Since it is the preferred choice among investors that want to carry out the Company Formation in Saudi Arabia, it is crucial to understand the entire process to incorporate it.
Here we have the steps for incorporating an LLC for your Saudi Arabia company formation:
Submit the application form to SAGIA
You can carry out the process online or in person at your convenience. This will allow you to obtain the Investment license from the Authority. It is a mandatory document for foreign investors that want to carry out the Company Formation in Saudi Arabia.
Notarization of the documents
To continue with the Company Formation in Saudi Arabia, you must collect the following documents:
- Articles of Association
- SAGIA license
- Signed paperwork by shareholders and directors
- Passport copies for each shareholder
- ID card copies for each shareholder
Once you have gathered the paperwork, you have to complete the notarization process.
The next step is to pay the fees for the gazette publication of company details. This will include information such as the company name, approval certificates, AoA information, and more.
Open bank account
It is mandatory to open a corporate bank account to comply with the formalities of the Company Formation in Saudi Arabia or business setup in Saudi Arabia. You have to deposit the share capital and it can be useful to pay government fees. Once you have finished the process you can use the account for the financial transactions of your business.
Rent an office
Your business needs to have a corporate address since it is one of the steps for incorporating an LLC in Saudi Arabia. After that, you can obtain the Municipality License.
Commercial certificate and membership registration
The final step is to submit the company paperwork to finish the registration at the Commercial Registry. It is a department of the Ministry of Commerce and Industry. The verification of your company’s documentation should last at least two working days.
After that, you have to complete the membership registration at the Chamber of Commerce. Keep in mind that you have to consider all the fees for this process.
Although undergoing the process for Company Formation in Saudi Arabia can be simple, you may need to have assistance. You can receive help to incorporate your company from start to finish thanks to our hands-on approach.