THE COMPANY
Introduction:
The
encouraging for local, joint and
foreign investment, it is strategic high aim of the Kingdom of Saudi Arabia. We are assuring on it
whole developing plans for the Kingdom and to be needed any foreign project or
joint which will rise in the Kingdom
same in permanent condition or temporary condition to obtaining the license
from the General Organization for Investment.
The General
Organization for investment is assuring about its observance of spreading in
any application for license within thirty days, the day of work from
fulfillment of requirements as highest limit, with its obligation about
obtaining foreign projects and joint on whole facilities provocation which
obtained by the Saudi Investor. That is
by assistance with the authorities of local person. Will target attraction of
investment which will serve the economic and Saudi Society and will ensure the
aims of technical transference and transference of modern method in the market
and administration. Will participate in developing and diversity of presented
services in the Saudi Market with catalysis of positive discussion in the
market, opening new executions for Saudi
exports, training, rehabilitation and employment of male & female citizens,
increasing the gross local production within investigation of added value for
Saudi Economic.
Terms & conditions for obtaining foreign investment permit and joint venture (for the companies )
1.
Non arriving of the investment activity among the list of investment
activities of foreign investment.
2.
The applicant for the permit to
be normal person or considerable will present to the Kingdom for the purpose of
investment.
3.
The investor not to be issued the final judgement against him due to
fundamental violation of foreign investment system.
4.
The investor not to be sentenced previously in the financial or
business violations same in the kingdom or other counties.
5.
The production quality and production systems and materials to be
proceeding in accordance with the rules of the Kingdom and in condition of its
non existence the approval will be completed on permission of the rules of the
European Union or United States of America
or Japan.
6.
Obtaining of origin on the approval from the local authority with some
activities which will require that.
7.
Proving of the financial ability on investment about which will be
appropriate with the capital of the project and share of each partner.
8.
Submission of little temporal and detail schedule for the steps of
execution of the project and complete obligation about its execution .
9.
The investor will be obliged about applying whole prevailing rules in
the Kingdom and from those: Rules of Labour and Labourers, Rules of Social Insurance, Rules of Jakat and
Taxes and Customs, Rules of legal procedure, Rules of penal procedure, Rules of
legal professional, Companies rules, Commercial Registration, commercial
cheating, Bank Control Rules of mental ownership protection, Rules of Trade
Marks, Rules of rights protection of the union, patent rules, Rules of residence,
Rules of foreign investment, Rules of protection and encouraging of national
industries .
10.
Pay of the fee amounting 2000 SR for new permit.
Contd. P/2
Page – 2
11.
The investor who has previously residence or work in the Kingdom within
previous three years for submission, he needs to present no objection from the
previous sponsor with approval.
12.
In the rate for the formed companies from the persons only or person or
persons and origins to be conditioned in any following person:
One.
Existing of educational qualification, and suitable experience or
required activities for the permit and the profession of the submitter as
workers and students quality.
Two.
Existence of the budget for the origin which will be owned by the
investor person or be partner with it is outside of the Kingdom for previous
applicants for the permit expressing its financial solvency and to be counted by the approved accounts
office and to be attested by the
concerned authorities about trading activities and taxes in the country of the
investor and from the Saudi Embassy in the country of investor.
Three.
Bringing the list of more than three agents for origins and information
related
with them.
d. Existence of the
investing works previously done by the origin in the field of the activities
who will desire to invest in it with submission the certificates of
obtained achievement.
Note :
(*) The name use of any application from the resident or arriving
person to the Kingdom with Hajj or Umra or Work Visa.
(**) Add to the matter in which the local authority has done for Saudi
Projects or Foreign or Joint Venture for confirmation of entry by the local
rules, such as Labour, Residence, Taxes, civil defense rules and rules of the
country and its violation and the organization also will follow the permitted
projects for confirmation of its entry by the rules of foreign investment and
its obligation about the purpose for which the permit is given and temporal
schedule submitted for project execution.
(***) Fee of the permit and there is no relation and service wages after
the permit or wages of services " Quick Action" for obtaining the
services and additional budget.
1.
Not to be granted visa or residence in the name
of " Investor" unless he has 3 persons in the company maximum not to
be less share of any of them in the company 25% from the capital or of 1,000,000 SR.
2.
In the rate for the formed companies from the
persons, in condition of partners about previous investment permit, he will not
be permitted except being confirmed
about his pervious permit standing and effective , there is no
violations on him from the department.
Please call our Investor Link
Within Saudi
Arabia : 800-244-9990
Outside Saudi
Arabia : + 966(2)653-9510
Or visit our website:
The Documents
which are necessary to collect the same on the Applicant for the company
permit.
(Formed by the persons
only)
1.
The form will contain the prayer for obtaining
the printed investment permit with required undertakings.
2.
Photocopy of Passport for each partner (all
pages with empty) on condition that its validity not to be less than 6 months
from the date of application submission. With enclosing 4 personal photo of
each partner.
3.
Bank certificate mentioning average balance of
last 12 month (not to be less than 250,000 SR (66,666 US Dollar) or share of
each partner from the capital which is the bigger of these).
4.
Personal character for each partner with the
photocopy of the last educational certificate translated in the Arabic Language
through the recognized translation office in the Kingdom in the Kingdom in
condition it was in non Arabic Language.
5.
In connection of the person who was the resident
in the Kingdom : No objection letter from the last sponsor in condition that
the partner was a resident in K.S.A within less than 3 years from submission of
the application as per approval.
6.
Preliminary contract of establishment for the
new company according the rules and regulations of the Ministry of Commerce
& Industry.
7.
Decision of the partners about their desires for
investment in the Kingdom mentioning in it the names of the partners and
capital, rate of their shares in cash
and shares and place and activities, appointment of Director General and
his powers (if not to be fixed in the contract of establishment).
8.
Prayer for approval from the Ministry/concerned
authority when will demand the activities or enclosing the approval when will
get the similar (Financial Services, Insurance, information, tours, health,
higher education and training).
9.
In existence of Saudi Partner:
One.
Photocopy of family circle with original true
copy.
Two.
Bank certificate mentioning average balance of
last 12 month (not to be less than 50,000 SR
or his share from the capital which is the bigger of these to be printed in the official pad of the Bank and sealed from it)
10.
Representation for the office of legal
profession or Saudi Person in the Kingdom to be attested from Saudi Embassy in
the country of the investor with the approved form on condition that it will be
translated in Arabic Language through the recognized translation office in the
Kingdom in the Kingdom in condition it was in non Arabic Language.
11.
In connection with any individual partner who he
has previous investment permit.
One.
Report from the concerned department about non
existence of violations.
Two.
Balance sheet of the pervious financial year
when the permit to be passed one & half year minimum.
Three.
Photocopy of the valid Jakat Certificate, Income
Certificate and no to be accepted " Free Certificate" .
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