Services

Business Formation

Business Formation

Between 2017 and 2018, foreign investment from international firms increased by more than 120%. This is according to UNCTAD’s World Investment Report 2019.

With the government’s ‘Vision 2030’ plans in full swing, foreign investment flows into Saudi Arabia are expected to continue to follow an increasing trend over the next decade. This is thanks to economic diversification and lots of new, valuable projects outside of the oil and gas sector.

Thus, now is a better time than ever to start thinking about bringing your business to the Kingdom so that you can benefit from building a strong presence in a rapidly growing market.

Setting up business operations in the Kingdom isn’t as straightforward as going online to incorporate your business, though. There is a strict process and framework that you must follow that includes applying for licenses, going through a process known as ‘Saudization’, and more before you can begin trading. This process can be long and is often difficult for the uninitiated to handle alone, and that is why Transcend operates a turnkey FDI service with a specialized framework to make establishing your business as quick and stress-free as possible.

Business Formation

Our services include engagement with government entities such as:

The Ministry of Investment of Saudi Arabia (MISA) is responsible for following up and assessing investment performance, alleviating the difficulties encountered by investors, conducting studies and research and drafting executive plans to stimulate local investments.

MCI is a cabinet-level government ministry of Saudi Arabia responsible for both commerce and investment sectors in the kingdom. Its responsibilities include the development and implementation of policies and mechanisms that govern the sectors of commerce and Investment.

Apart from issuing a Chamber of Commerce Certificate, COC will facilitate the attestation of formal letters from companies, which is mandatory in official communication. As part of its process, COC will register the General Manager’s signature (including any authorized signatories) to be able to attest future documents.

GOSI is a Saudi Arabian government agency concerned with social insurance in the country. GOSI is supervised by a board of eleven directors from government departments, employers and insured persons.

In accordance with its regulations, GZAT will be responsible for collecting the Zakat and taxes, along with ensuring the best performance of its members in carrying out the duties assigned to them.

MOMRA is a government agency in Saudi Arabia established in 1975 and responsible for the supervision and regulation of municipalities in the Kingdom.

Part of the Ministry of Interior, its’ effort is to protect the citizens and residents of the Kingdom from attacks and natural disasters. Part of their mandate is to ensure all commercial entities comply with the Kingdom’s safety standards.

Certain business activities require special licenses from regulatory authorities. Our team of experts will engage with the appropriate authorities to acquire such licenses for you, provided your business is compliant with the regulations
Agent Representation

Agent Representation

Legacy laws that once prohibited foreign investment have now been removed and replaced by a more forward-thinking set of laws and a program that is set to rapidly transform Saudi Arabia’s economy, ‘Vision 2030’.

Despite this, there is still a strict process that must be followed by international firms that want to set up their business in Saudi Arabia and access the Kingdom’s market.

At Transcend, we strongly believe that no business should be denied access into what is a rapidly growing and thriving market. That is why we offer Agent Representation as part of our wide range of services, designed for businesses in the set-up stage.

Agent Representation
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Our Agents are highly skilled and experienced individuals who represent your business on your behalf in Saudi Arabia during the set-up stage and beyond.

These people ensure that you can get access to the Saudi market prior to your company being incorporated here and continue to represent your business and its interests after you have launched to ensure ongoing compliance and smooth operations.

Policy Monitoring

Policy Monitoring

Laws in Saudi Arabia can seem fluid and ever-changing to those who do not live here, however, the reality is that the country’s laws and policies change no more or less often than other countries from around the world.

That being said, the nature of Saudi Arabia’s laws can come across as somewhat ‘different’ or ‘restrictive’ to outsiders.

Policy Monitoring
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At Transcend, we understand that businesses want to access new markets as quickly and easily as possible, and that they do not want to be tied down, restricted, or burdened by a country’s laws from the outset, nor when they change.

To protect our clients from this, we offer a specialist Policy Monitoring service where legal specialists from within Transcend monitor the changing legislative landscape and, where necessary, take action to ensure clients’ businesses will not be adversely affected and take action to help them remain compliant.

Worried about how Saudi Arabia’s laws may impact your business?