WHY INCORPORATE IN SAUDI ARABIA WITH US?
Our physical presence in the Kingdom, together with our strong regional presence across the Gulf region – in Dubai, Abu Dhabi, Bahrain, Doha and Muscat – and our global office network spanning Europe, Asia and Africa, has enabled us to assist businesses from five continents to set up and deliver on their commercial plans in the Saudi market.
WHY SET UP IN KSA?
Apart from the obvious advantages of the Kingdom’s geographical location and its easy access to Africa, Asia, and Europe, there is a lot of effort being made by the Saudi government to drive business to the Kingdom. The Saudi Arabian government launched the Vision 2030 initiative in 2016 to improve the Kingdom’s investment climate, attract increased foreign investment, and encourage greater domestic and international private sector participation in its economy. The Kingdom is outlining some key business incentives and opportunities to attract investors. The Vision 2030 initiative is seeking to increase private sector's contribution from 40% to 65% of GDP.
Key Benefits:
- Tax incentives offered to underdeveloped provinces in the Kingdom
- Rights to buy property and allow ventures to sponsor their own employees
- There is minimal income tax, and provide for VAT and custom duty exemptions
Saudi Arabia is the largest economy in the Gulf region and is becoming an increasingly viable destination for foreign investors and companies to expand into to take advantage of the growing Saudi market.
Recent regulatory changes in the Kingdom have also significantly increased the attractiveness for companies to set up - allowing 100% foreign ownership through the Ministry of Investment of Saudi Arabia (MISA) platform.
This process, however, can be arduous and time consuming and using a Corporate Service Provider based in the Kingdom that can oversee the formation from initial registration to full operation will save time and money whilst the business concentrates on its expansion objectives and strategy. Sovereign PPG have their own on the ground PRO and Operations support service team to assist with all critical government registrations and industry sector specific regulatory approvals and well versed to assist fully in the KSA company formation process.