The Kingdom of Saudi Arabia is on its journey to achieve Vision 2030 goals and diversify its economy, thus reducing its dependence on oil revenue. In this context, KSA offers numerous opportunities for business development and expansion. The Kingdom is welcoming more and more foreign investments and now starting a business in Saudi Arabia from Qatar has been made easy.
If you are one among so many Qataris planning to start a business in Saudi Arabia from Qatar then this blog is for you. Read the blog and gain a better understanding on business formation in Saudi Arabia from Qatar.
What are the Types of Companies a Qatar National Can Setup in Saudi Arabia?
Saudi Arabia’s initiative for its economic diversification offers numerous business opportunities for Qatar nationals. Below we have listed the types of companies a Qatar national can set in the Kingdom of Saudi Arabia.
Advantages of Expanding or Starting a Business in Saudi Arabia from Qatar
Company formation in Saudi Arabia from Qatar offers numerous advantages. Similar culture and close proximity of the regions ease the business formation.
Now let’s look in detail what are the advantages awaits a Qatar national in setting up business in Saudi Arabia.
- No requirement of MISA license
- Liberty to operate from any sector of Saudi Arabia
- Minimal delays in setting up business
- No minimal capital is required for trading
- Lower Zakat tax rate of 2.5%
- Exemption from paying 20% income tax that other non GCC nationals has to pay
- Freedom to do different business structures
Legal Requirements to Setup Business in KSA
To set up a business in Saudi Arabia, one has to satisfy certain legal requirements. Though it may vary from business to business, there are some common laws that every foreign business has to follow to set up business in the country.
In order to incorporate a business in Saudi from Qatar, a Qatari business has to set up its branch or subsidiary company in a partnership or full ownership with a Saudi citizen. Also, the Qatari company has to submit its previous year’s audited financial statements to prove that the company was functioning successfully for the past year.
Also, the Qatari business has to make ready the below mentioned documents for a business setup in Saudi Arabia from Qatar.
- Company Incorporation Documents including Trade License, Commercial Registry etc.
- Power of Attorney
- Memorandum of Association
Also, other documents have to be submitted based on the nature of the business, location, etc.
Steps to Register your Business in Saudi Arabia from Qatar
With right guidance and following the correct procedures, setting up a business in Saudi Arabia from Qatar wouldn’t be a hectic process. Below we list the steps to be followed to start a business in Saudi Arabia from Qatar.
- Get registration approval from the Ministry of Investment (MISA)
- Commercial registration at the Ministry of Commerce has to be done
- Register you company with several government departments like General Organization for Social Insurance (GOSI), Ministry of Labor, and Ministry of Interior
- Get a local address and office space for your business
- Register your company at The Ministry of Human Resources and Social Development (HRSD)
- Apply for insurance for the General Manager and get a bank account for your company.
How can Analytix Help you?
It is always good to seek professional assistance to register a business in Saudi Arabia from Qatar. Complicated legal requirements and time consuming processes can risk your dream to start a business in Saudi Arabia from Qatar. Analytix is a trusted business setup company in Saudi Arabia and Qatar. With our vast experience in the field, we have helped numerous Qataris to start and expand their business in Saudi Arabia. Feel free to reach out to us at our offices in Al Rifaa, Doha, Corniche.
Conclusion
Are you now clear with how to start a business in Saudi Arabia from Qatar? Hope this blog provided a comprehensive answer on how to register a business in Saudi Arabia from Qatar. If you have any further enquiry regarding the company formation in Saudi Arabia from Qatar, you can reach out to us. Our experts will take you through the process involved and do the work for you on your behalf. Feel free to reach out to us.
- FAQs
Frequently Asked Questions
If your question is not addressed here, please feel free to reach out to us. We value your inquiry.
Why should I expand my business to Saudi Arabia from Qatar?
Saudi Arabia provides a lucrative market with great opportunities in various sectors like retail, technology, healthcare, etc.
Can you explain what are the legal requirements for Qatari entrepreneurs starting a business in Saudi Arabia?
Inorder to start a business in Saudi Arabia from Qatar, you will need to register at Saudi Arabia’s Ministry of Commerce. You have to obtain licenses, and comply with various sector specific regulations. Inorder to process all these fast, you can seek the help of a local legal advisor.
What are all the industries in Saudi Arabia which offer opportunities for Qatari entrepreneurs?
There are many thriving sectors in Saudi Arabia such as tourism, renewable energy, entertainment, and logistics, which are supported by government initiatives like Vision 2030.
As a Qatari entrepreneur, how can I find reliable local partners or suppliers in Saudi Arabia?
By actively networking through local business forums and chambers of commerce you can easily connect with reliable partners in the Kingdom Of Saudi Arabia. Due diligence and clear agreements can help you establish a successful partnership with a Saudi Arabian national.
Can you explain what are the tax implications for Qatari businesses operating in Saudi Arabia?
The Kingdom of Saudi Arabia offers competitive tax rates. It provides great incentives for certain sectors and regions in the Kingdom, boosting the profitability for Qatari businesses in Saudi Arabia
As a Qatari entrepreneur how can I navigate logistics and transportation when exporting goods to Saudi Arabia?
You can make use of Saudi Arabia’s infrastructures such as ports, airports, and roads—to ensure the smooth transportation of logistics. Understanding of import/export regulations in the country is essential for smooth operations in Saudi Arabia.
Which are all the support services available in Saudi Arabia to assist Qatari entrepreneurs in the Kingdom?
There are consulting firms which help in market entry and provide essential services like market research, legal advice, and business setup. Seeking help from them can help you have a seamless entry into the Saudi market.
How can Qatari entrepreneurs get to know about the changes in Saudi Arabian laws and regulations?
Seeking help from legal advisors and industry sources can help the Qatari entrepreneurs to get information regarding the regulatory changes and requirements in Saudi Arabia.
As a Qatari businessman what cultural considerations shouldI keep in mind when doing business in Saudi Arabia?
You must be respectful towards local customs, and must build successful business relationships with locals. Try to understand their business etiquette so that you can build trust and successful collaborations in Saudi Arabia.
