As we know, if a foreigner wants to start a business in Saudi Arabia, he has to apply for a SAGIA license. After paying the due fee one has to obtain a Commercial Registration Certificate to register a company in Saudi Arabia. Thus, the entire process for obtaining a Commercial Registration Certificate in Saudi Arabia is summarized in the below-listed steps.
Steps To Do Saudi Arabia Commercial Registration
● Have A Physical Office in KSA : To obtain a CR, you need to mark your physical presence in the business world by having a concrete existence of your office. Since you do not have your CR, you would not be able to buy a property in KSA and thus you have to rent one.
● Articles of Association: The AoA has to be submitted to the Ministry of Commerce in Saudi Arabia for approval. These consist of some internal rules that the company has to abide by. Once it has been approved, all the founders have to sign the AoA in front of the notary public. After that, the name and AoA has to be published in newspapers which include a fee and might take around 2 days.
● Capital Deposition: After depositing the capital in the bank you have to wait for at least 3 days before receiving the certificate.
● Commercial Registration Fee in Saudi Arabia: After the fulfillment of all the requirements you have to pay a certain amount as a fee for the company commercial registration certificate.
● Return to Commercial Registry: If you need to make any changes to the existing information at the commercial register then it has to be done within 30 days to the date the amendment was made.
● Commencing Business After Receiving CR: Certain mandatory procedures have to be completed after receiving the company registration certificate before starting legal operations in Saudi Arabia. These simple tasks can be easily done at the SAGIA Business centers.
● Registration at the Chamber of Commerce: All the registrants have to hand in the certificate of membership after obtaining it from the Chamber of Commerce and Industry. This has to be done within 30 days of registration. Apart from this a commercial fee of SAR 2000 has to be paid by all the registrants.
● Zakat Or Income Tax Registration: A registration of the business has to be done with DZIT to obtain a file number and the Certificate of Commencement of Business.
● General Organization for Social Insurance Registration: GOSI is an important monitoring body for every business which is why you have to register your legal entity with it.
● Registration with Municipal and Labor office: Municipal License has to be obtained by all companies before registering with the labor office to start hiring people.
With the completion of these steps, you can finally acquire a Commercial Registration Number in Saudi Arabia. However, the entire process can be too time and cost-consuming for you which would be a hurdle while focusing on your core business. Thus, to be your savior under such circumstances, Company Hubs jumps in with a wide range of services. From doing all the work on your behalf to setting up documentation with the regulatory bodies, it is all effectively accomplished by the expert team of Company Hubs.
Company Hubs assists you with company registration in Saudi Arabia, assistance with amendment or filing of company documents and accomplishing government-related processes or paperwork, and whatnot. Now it has been made 2x easier to establish a foreign company in Saudi Arabia. To start with yours visit companyhubs.com
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