Minister of Investment Launched 3-Step Program

In collaboration with the Ministry of Foreign Affairs and the Ministry of Commerce, the Ministry of Investment launched a new service to help foreign companies and investors to establish and start doing business from outside the Kingdom, with the goal of enabling them to issue investment licenses, as quickly and easily as possible, in accordance with internationally recognized best practices.

This measure helps reinforce the Kingdom’s reforms aimed at making it easier for investors and businesses to do business, in the Kingdom.

It also results from the integration and collaboration of government agencies to address the challenges faced by investors and contribute to the Kingdom’s investment environment’s, to raise its regional and global competitiveness, enhancing the Kingdom’s position as a preferred investment destination, for ease of doing business.

Instead of 10 phases, the new investor journey requires only three actions to validate the agency and the articles of association.

It begins with a visit to the Saudi Ministry of Foreign Affairs’ website and an application for “adding a request for attestation of the establishment contract” at the Kingdom’s legations abroad, followed by a visit to the Ministry of Investment’s services portal and the issuance of the license.
The investor next goes to the Ministry of Commerce’s website to document the articles of association and obtain the business register, as the third and last stage.

The Ministry of Investment confirmed that the new service, launched in a number of the Kingdom’s embassies, will bring about fundamental changes in the investor’s journey, making it easier for foreign companies to establish and start their businesses and overcome obstacles they have faced in the past, such as the difficulty faced by companies coming to the Kingdom to document incorporation contracts, due to the large number of documents that must be submitted as well as obtained.

The ministry announced that it would undertake a multilingual marketing campaign to bring the new service to the widest possible range of overseas investors and companies and enable them to take advantage of it.