Saudi Arabia launches service to establish, start business from outside of Kingdom

Saudi Arabia launches service to establish, start business from outside of Kingdom

Saudi Arabia’s Ministry of Investment on Monday launched a new service to establish and start a business from outside the Kingdom to enable companies and investors to issue investment licenses quickly and easily per international best practices.

According to the Saudi Press Agency (SPA), the new service, in partnership with the Ministry of Foreign Affairs and the Ministry of Commerce, will contribute to strengthening Saudi Arabia’s business-related reforms for investors and companies.

Under the new service, investors will only need to follow three steps to authenticate the agency and attestation of the establishment contract, starting with visiting the website of the Saudi Ministry of Foreign Affairs and applying for “adding a request for attestation of a contract” at the Kingdom’s missions abroad, SPA said.

The second step requires the investors to visit the electronic services portal on the Ministry of Investment website where they can apply for the license issuance, while the final step requires the investor to visit the Ministry of Commerce website to authenticate the establishment contract of the business and issue the commercial register, the press agency added.

“The Ministry of Investment confirmed that the new service, which was inaugurated in a number of the Kingdom’s embassies, will bring about fundamental