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Legal Requirements & Procedures for Establishing a 100% Foreign-Owned Company in KSA

Discover the key legal requirements and procedures involved in establishing a 100% foreign-owned company in KSA. Learn about the general legal framework.<br><br>

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Legal Requirements & Procedures for Establishing a 100% Foreign-Owned Company in KSA

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  1. Legal Requirements and Procedures for Establishing a 100% Foreign-Owned Company in KSA As of last knowledge update, the regulations and procedures for establishing a 100% foreign-owned company in Saudi Arabia were undergoing significant changes. However, I can provide you with some general information on the subject. Please note that regulations may have been updated since then, so it's always a good idea to consult with a legal professional or the relevant authorities for the most up-to-date information. Here are the key points. General Legal Framework: Saudi Arabia has introduced several reforms to encourage foreign investment and diversify its economy. The Saudi Arabian General Investment Authority (SAGIA) is the primary authority responsible for overseeing foreign investments and issuing investment licenses. Reserved Sectors: Certain sectors, such as oil and gas exploration, public utilities, and military-related activities, may be restricted or limited to foreign investment. It's

  2. important to check the specific regulations and restrictions related to the industry you intend to operate in. Legal Assistance: It is highly recommended to engage a local lawyer or a professional consulting firm with expertise in Saudi Arabian business laws and regulations. They can guide you through the process, assist with document preparation, and ensure compliance with local requirements. Local Agent/Partner: Historically, foreign investors were required to have a Saudi partner holding at least 51% of the shares in a company. However, recent reforms have allowed for 100% foreign ownership in certain sectors. Again, it's essential to verify the requirements specific to your industry. It is crucial to note that the regulations and procedures in Saudi Arabia are subject to change. To obtain the most accurate and up-to-date information, it is advisable to consult Thinkdirect BPO, a trusted business consulting firm in Saudi Arabia that can help establish a 100% foreign company in KSA. To know more about Thinkdirect BPO, visit: https://thinkbpo.me/

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