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Starting A Business in Saudi Arabia
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Starting a Business in Saudi Arabia
 
 
 

Limited Liability Company

Procedure 1. Register at the Unified Registry/ Ministry of Commerce and Industry

The applicant completes all required forms and submits them to the new one-stop Unified Office at the Ministry of Commerce in Riyadh. The Unified Office includes representatives from: Companies Department, Commercial Names Department, Commercial Registration Department, Chamber of Commerce, Private Bank, Publication Office, and Notary Public. In addition, the Company registration with the Chamber of Commerce is done through the Chamber of Commerce desk at the MoCI.

The registration fees for LCC is SAR 1,200 as stated in the Council of Minister's resolution No.163 dated 23/6/1429 (16/6/2008) and SAR for 2,100 Chamber of Commerce fee. The requirement to publish summary Articles of Association in the Official Gazette cost SR 1500-3000, depending on the length.

Time to complete:
2-5 days

Associated costs:

SAR 1,200 registration fee + SAR 2,100 Chamber of Commerce fee+ SR 500 publication of summary AOA .

Procedure 2. Open bank account

Time to Complete:
1 day (simultaneous with Procedure 1)

Associated costs:
No charge

Procedure 3. Register with the Department of Zakat and Income Tax (DZIT) to obtain a file number and a certificate of commencement of business

Zakat, a religious wealth tax, is assessed on taxable income and on certain assets.

Time to Complete:
1 day

Associated costs:
No charge

Procedure 4. Register employer and employees for the General Organization of Social Insurance (GOSI) contributions online

To register for social security insurance, the employer must open a file with the General Organisation of Social Insurance (GOSI). This action will register the employer and the employee with the organisation’s two branches, the Pension Fund and the Industrial and illness Fund (Occupational Hazards Fund). Employers must contribute 11% of employee salary (Saudi employees) and employees must contribute 9%.

Time to Complete:
1 day

Associated costs:
No charge

 
 

 



 


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