MISA Entrepreneur License

Expand your business to Saudi Arabia with 100% foreign ownership.

Foundations of the Legal Entity:

(Projected timeline: You can complete this within 30 days when you submit your documents in MISA)

To legally establish your business in Saudi Arabia, you must first obtain a one-year license from the Ministry of Investment of Saudi Arabia (MISA). You also need to reserve your company's name with the relevant authority, draft and notarize your Articles of Association (AoA), and obtain your Commercial Registration (CR) certificate which officially recognizes your company as a legal entity in Saudi Arabia. Finally, you must register with the Chamber of Commerce (CoC).

This is the step-by-step procedure

First, you must study the market, then you need a clear business plan with you, The MISA license is only applicable to those who have a company outside Saudi Arabia. If you do not have a company anywhere you can't start a 100% ownership company in Saudi Arabia, You can open a company with any Saudi partner or GCC nationals. If you have a company in outside Saudi Arabia you can open a 100% company branch in Saudi Arabia. For this purpose First, you have to provide the given below Documents,

Documents Need for the MISA Registration

1. Registration copy of your current company (at least one-year-old company)
2. Memorandum of association
3. Financial audit report of your current company (Last one to three years)
4. Chairman, or GM ( shareholders) Passport copy
5. For your company registration, you have to give authority to a person or company(Power of attorney)

If you have this many documents in your hand then you can approach any person or service provider, He will assist you to do the following steps, and you can direct what you need in your company in Saudi Arabia

1. Obtain a MISA Investor License

2. Name Reservation

3. Draft Local Articles of Association (AoA)

4. Commercial Registration (CR)

Chamber of Commerce (CoC) Registration Insight: The Articles of Association template is set up by law and companies are only able to adjust their general manager’s powers.

Authorization to Hire Staff :

(Projected timeline: You can complete this Within 60 days when you submit your documents in MISA)

After procuring a company seal you need to register with the Ministry of Labor and enrol in the General Organization for Social Insurance (GOSI) to be able to hire and manage staff in KSA. By registering your company’s physical location in KSA, it will be listed in the national database for legal correspondence. The next steps are securing a visa for a General Manager (GM) of your new entity, and registering with the General Authority of Zakat and Tax (GAZT) for tax compliance, including VAT. VAT is 15% and corporate tax is 20% also Sharia Zakat tax is applicable in Saudi Arabia

5. Obtain a Company seal

6. Register with The Ministry of Labor

7. Register with the General Organization for Social Issuance (GOSI)

8. Register a National Address

9. Issue a GM Visa

10. Registration with the General Authority of Zakat and Tax (GAZT) and VAT Registration

Acquiring Residency and Opening a Bank Account:

(Total Projected timeline: you can complete within 90 days when you submit your documents in MISA)

To complete your business setup in Saudi Arabia, you must activate your CoC account, obtain health insurance for the GM, schedule the GM's medical check-up (the GM must visit KSA for this step), secure the GM's Iqama, register on the key portals such as Muqeem, Absher, Qiwa, and Mudad portal, and open a corporate bank account.

11. Activate the Chamber of Commerce (CoC) Account

12. Obtain Health Insurance

13. Get a Medical Check-up

14. Issuing the GM’s Iqama

16. Register with the Muqeem portal for streamlined visa and residency management

17. Register with the Absher portal for an array of e-government services

18. Register with the Qiwa portal for business services designed for SMEs

19. Register with the Mudad Portal to manage essential municipal services for your company

20. Open a Bank account

I think you could make sure you transfer some funds to your new bank account within 60 days of its opening, otherwise, it will get blocked. You also need to get your Saudization certificate to be able to access the Etimad portal and bid on government tenders.

For more information and free consultation please Reach out to us at info@globalsaudipartners.com

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