Explore the Kingdom of Saudi Arabia

25 October 2023
Explore the Kingdom of Saudi Arabia

Explore the Kingdom of Saudi Arabia: Bustling business environment and developing economic landscape. Your business access to one of the world’s fastest growing economies.

SFM is thrilled to announce that as we continue our mission and growth, we are now able to provide our comprehensive suite of corporate services in the Middle East’s largest and fastest growing economy, Saudi Arabia.

The Kingdom of Saudi Arabia's business environment is characterized by a unique blend of tradition and modernity, and its demand is transforming the country into an investor-friendly environment making it an increasingly attractive destination for investors and entrepreneurs. With the ambitious Vision 2030 plan in motion, the country is thriving through actively diversifying its economy beyond oil dependency, encouraging foreign direct investment, and fostering a more open and dynamic business landscape. The strategic location at the crossroads of Europe, Asia, and Africa, coupled with a young, tech-savvy population, present significant opportunities for companies looking to expand their footprint in the region. Saudi Arabia's commitment to economic transformation and its vast market potential have seen the Kingdom emerge as an exciting and promising environment for both local and international businesses and entrepreneurs alike.

Saudi Arabia is the largest economy in the GCC and therefore attracting a lot of attention from international businesses and entrepreneurs. As the Kingdom sees more demand and economic growth it will rise to become a global business hub with supportive networks, business incentives, and streamlined regulations that set it to the best international standards and encourage further foreign investment.

The Kingdom boasts abundant reserves of natural resources, especially oil, making it a center of global energy markets. However, it has become increasingly diverse with a commitment to infrastructure, regulatory and economic development, including megaprojects like NEOM and the recently introduced Personal Data Protection Law (PDPL), which is an example of how Saudi Arabia offers a perfect equilibrium between client confidentiality and regulatory compliance, maintaining the highest global benchmarks. Saudi promises to unlock new avenues for businesses to grow and prosper in this dynamic and evolving market. SFM, recognizing this potential is now able to be your trusted partner for navigating the complexities of establishing and managing in this market. Setting up a business in Saudi Arabia, especially for expatriates (Non GCC nationals), offers a unique opportunity through the Ministry of Investment Saudi Arabia (MISA), formerly known as SAGIA. Unlike other options, MISA allows expatriates to become shareholders in their business venture. The available business activities span a wide spectrum, with professional activities in the services sector being fully owned by expatriates. Even trading activities can achieve full ownership, provided they have a minimum of SAR30 million in paid-up share capital.

When establishing a business under MISA, expatriates must submit several essential documents, including proof of ownership of another company in the same profession or industry, which must be at least 12 months old with available financial audits of the said company as well as 5-year detailed business plan outlining investments in the Kingdom.

Saudi Arabia imposes a corporate tax rate of 20% on net profits, making it essential for businesses to factor this into their financial planning. Additionally, there's a Value Added Tax (VAT) rate of 15%, which applies to most goods and services. Furthermore, Saudi Arabia has a withholding tax that ranges from 5% to 20%, depending on the type of income and the recipient. Staying informed about these tax regulations is crucial for businesses operating in the Kingdom to ensure compliance and financial stability.

When you opt for Saudi Arabia as your business destination, SFM is your trusted companion, delivering our extensive expertise and unparalleled dependability. Our team of professionals and committed Relationship Managers will guarantee a smooth and efficient process, enabling you to maximize the benefits available in Saudi Arabia.

At SFM, we provide extensive knowledge and experience of the Saudi business environment. With our expertise and global reach, we can ensure your business is fully compliant and best prepared with our tailored solutions. Creating the best approach for your business in the Saudi Arabian market.

Explore the opportunities of the vibrant business landscape of Saudi Arabia. With SFM as your trusted partner, you can navigate the intricacies of this market with confidence. We are excited about this new expansion and look forward to helping your business in Saudi Arabia.

To learn more about our services in Saudi Arabia or to discuss your business needs, please visit our website www.sfm.com or contact a member of our dedicated team at info@sfm.com and thank you for choosing SFM!

Subscribe to our newsletter

Share this news on:


SFM Login & Registration