Saudi investment ministry: $8mln minimum capital to issue license for foreign companies with 100% ownership

Saudi investment ministry: $8mln minimum capital to issue license for foreign companies with 100% ownership

JEDDAH — The Ministry of Investment revealed that the minimum capital required for foreign companies to practice wholesale and retail trade activities with a 100 percent ownership is SR30 million. The foreign company must have its presence at least in three regional or global markets. These are among the terms and conditions contained in the Service Guide 2023 issued by the Ministry of Investment.

The guide cites the terms and conditions and the required documents for applying for issuance of licenses for foreign companies to practice activities of wholesale and retail trade or e-commerce with a 100 percent ownership. The ministry stressed that it is necessary to submit a copy of the commercial registration of the firm for its presence in at least three regional or global markets, and this shall be certified by the Saudi embassy in the designated country, in addition to the company’s balance sheet for the last fiscal year, duly attested by the Saudi embassy.

According to the guide, the terms and conditions also include that if one of the partners is previously licensed by the ministry, this must be clarified when filling out the partners’ data while submitting the electronic application. In addition, the ministry stipulated that