Opening a shop or small sized business in Saudia

I took the following from Arab news, thought it would benefit someone wanting to make hijrah to Saudi based on business:

A.S.C. I am an expatriate working in Saudi Arabia. Now I am planning to start something of my own and I want to know about requirements for opening a shop or be in small-sized business. Can I do this as sole individual or I must have to involve a Saudi in the business?

Yes, you may do that. These are the conditions:

• Get a no-objection-certificate (NOC) from your present employer.

• Leave on final exit and then come back. You don’t need to stay out of the country for any amount of time.

• You must have an individual establishment or company in your country, in the same line you wish to invest here.

• You will need a capital of SR1,00,000 for an individual establishment, or SR500,000 for a company.

• Apply at the Saudi Arabian General Investment Authority (SAGIA). After having its license, you will need to apply for a commercial registeration at the Ministry of Trade and Industry.

• You do not need a Saudi partner.

Law and You by Mohammed Jaber Nader

Monday 27 April 2009 (02 Jumada al-Ula 1430)

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