2.1. Main Formation Requirements
The establishment of a company in Saudi Arabia involves a number steps and requires registration/approval with a number of government agencies. Most of the process can be completed through Saudi Arabia's United Center. The following outlines the basic requirements for establishment:
- Submit an application with the Saudi Arabian General Investment Authority (SAGIA) to obtain investment license
- Check online for company name availability, and formally reserve by printing a confirmation from the site and applying at the United Center
- Make initial application by submitting the following documents at the United Center:
- Application form
- Electronic copy of the articles of association (on a cd)
- Company Name reservation confirmation
- Pay the registration fee
- Have the articles of association notarized by a notary public
- Open a bank account in the company's name and deposit initial capital
- Submit approved documentation, including
- Notarized articles of association
- Certificate of deposit
- 2 applications
- The undertaking (declaration)
- Pay Chamber of Commerce membership fee
- Register for the pension fund and industrial and illness fund with the General Organization of Social Insurance
- Register with the Department of Zakat and Income tax of the Ministry of Finance