Foreign businesses looking to fast-track their entry to Saudi Arabia opt to take the support of third-party assistance from business consultants and business expansion platforms. The goal is to achieve compliance and ensure efficiency as they incorporate a Saudi-based enterprise.
In this article, we take a closer look at the importance of professional support in enabling a streamlined market expansion as Saudi continues to be the place to be for major corporations and multinationals (MNCs) around the world.
As specialists in the field, AstroLabs provides A-Z business incorporation support to foreign businesses. Schedule a free call!
Company Formation Overview: Business Expansion Consultants Services
Company formation is the mode of establishing your legal entity while complying with the several pre-defined rules and regulations that are set out by the relevant authorities. The process involves traversing through a myriad of intricacies that can be hard to comprehend for international companies.
For businesses unfamiliar with the local regulatory landscape, this process might be fraught with uncertainties; therefore, working with subject matter experts well-versed in local business and culture aspects helps proprietors minimize risk and save time and money, as well as identify new business opportunities in light of the Kingdom’s Vision 2030.
As the Saudi landscape evolved, so did incorporation services, which go beyond registering a business; the best providers are the ones that ideally combine innovation and expertise with a laser focus on driving outcomes throughout the incorporation process, starting with choosing the type of structure and registering it on governmental portals all the way through corporate growth.
Being one of the fastest-growing economies in the world, the Saudi market opens up numerous prospects for incoming businesses. Consequently, the timely help sought from third-party business setup services providers has proven advantageous in guiding foreign companies through the seamless establishment of their Saudi enterprises.
Where Do Business Expansion Platforms Come in Handy?
Partnering with end-to-end consultants and business expansion platforms such as AstroLabs enables businesses to operate at the highest levels of due diligence while ensuring compliance at every turn, allowing them to focus on core operations. This is all while offering timely, real-time help that’s paramount to addressing unexpected issues as they crop up and keeping businesses on top of regulatory and industry changes.
As a leading business expansion platform, we offer:
Company Incorporation Services
AstroLabs assists you in selecting the right type of company for your business needs, drafts the Articles of Association (AoA), and acquires the MISA license and CR certificate on the client’s behalf.
In addition to addressing essential incorporation requirements, the on-the-ground team ensures completion of registration with the relevant ministries.
Furthermore, to help businesses navigate the local tax landscape, it partnered with local service provider Innovant Management Consulting to support companies with their tax needs.
Post-Incorporation Services
With this specialized knowledge and expertise, the on-ground team supports businesses across several post-incorporation matters, chief among which are opening bank accounts, acquiring the GM’s Iqama, and registering a national address.
Besides, AstroLab’s global business expansion process involves hiring top Saudi talent, enabling businesses to remain in full adherence with the Saudization (Nitaqat) regulations.
Business Growth Support in Saudi Arabia
As its network of expansion leaders grows, so does AstroLabs’ product roster. The company’s customer-focused approach has led to the emergence of new service offerings aimed at the needs of businesses in various functions, including HR, PRO, and GRO.
In addition, the on-the-ground team provides foreign companies with ongoing legal and regulatory support to help them comply with all the applicable laws and regulations in portal management and Saudization regulations, as well as annual renewal processes of foundational documents such as the GM’s Iqama, MISA License, CR, and more.
The deep expertise the team cultivated over the past 11 years led to the expansion of over 700 high-growth companies into Saudi Arabia, spanning more than 50 countries and 37 diverse industries, namely IT, construction and real estate, telecommunications, financial services, retail, hospitality, HR, and many more. Those companies are now part of a wider AstroLabs Network (ALN) that boasts more than 1750 industry leaders.
The AstroLabs Network (ALN) opens the door for building robust business connections, allowing companies to acquire potential clients and deal with government agencies and local industry associations, thereby creating a conducive environment for business and innovation and promoting inclusive growth.
We are committed to helping our clients achieve their growth goals in Saudi. Contact us now to join hundreds of industry champions working to steer the development of the Kingdom’s most strategic sectors.
Company Formation in Saudi Arabia: FAQs Relating to Company Incorporation in Saudi
1. What does the foreign business incorporation process look like in Saudi?
The market expansion process can be divided into three stages:
First Phase: Establishing a Legal Entity
Second Phase: Hiring the Team
Third Stage: Banking and Residency
Check out this guide for a detailed analysis.
2. What are the types of business structures in Saudi?
Common business forms are:
- Subsidiary of a foreign company
- Limited liability company (LLC)
- Joint-stock company
- Regional headquarters (RHQ)
- Technical and Scientific Services Office (TSSO)
3. How long does it take to incorporate a business in Saudi?
The support offered by the AstroLabs’ on-the-ground team allows for a fast-moving company registration process, which approximately takes 6 months to complete.