Business Formation

Applies to women only: Obtain husband’s permission to leave the house

Agency: Home

If a woman fails to obtain the permission/support of her husband in leaving the home (for example, for entrepreneurial ventures) it is possible that she may suffer consequences under the law; for example she may not be entitled to financial alimony.

Time and cost: 1 day, no charge

Register the company with MERAS

Agency: MERAS

The Meras platform is a one stop-shop that allows entrepreneurs to register their new company online with the Ministry of Commerce. It also allows entrepreneurs to obtain the Municipality license, notarize the articles of association electronically, register with the Ministry of Labor and Social Development (MLSD), the General Organization for Social Insurance (GOSI), and the General Authority of Zakat & Tax (GAZT). New compamies are also registered with Wasel automatically.

Time and cost: 8 days, SAR 1,200 for commercial registration + SAR 2,000 a fee to become member of Chamber of Commerce + SAR 500 e-magazine publication fee + SAR 1000 (municipality license)

Open a bank account

Agency: Bank

The entrepreneur open a company bank account at a bank of choice. After the certificate of registration is issued, the company founders go back to the bank to unblock their capital deposit and activate their bank account. It is required to open a bank account within 90 days starting from the issuance date of the commercial certificate of an LLC.

Time and cost: 1 day, no charge

Make a company seal

Agency: Seal maker

The seal must include the Certificate of Registration number and the name of the company. It costs around SAR 40-50 to make. It is needed to attest signatories at the Chamber of Commerce, register with the General Organization for Social Insurance and for the companies’ invoices. It is commonly used in practice. The seal is always used on the following documents:

  • Any contracts,
  • Shareholder resolutions,
  • Management resolutions,
  • Official letters and notices,
  • All Gvt agencies require documents to be put on official company letterheads and stamped.

Time and cost: 1 day, SAR 50