In just three online steps, the the Ministry of Investment today launched a new service for establishing and starting businesses from outside the Kingdom, in partnership with the Ministry of Foreign Affairs and the Ministry of Commerce, with the aim of enabling companies and investors to obtain investment licenses quickly and easily in accordance with global best practices.
This step contributes to strengthening the reforms implemented by the Kingdom regarding doing business in the Kingdom for investors and companies, It also results from the integration and partnership among government agencies to address the challenges faced by investors, and helps increase the competitiveness of the Kingdom’s investment environment regionally and globally, thereby strengthening the Kingdom’s position as a preferred investment destination due to the ease of starting a business.
The new investor journey requires only three steps to authenticate the power of attorney and notarize the articles of incorporation, down from ten steps. It begins with visiting the Saudi Ministry of Foreign Affairs website and submitting a request “Add a Request to Certify the Articles of Association” at the Kingdom’s diplomatic missions abroad, then visiting the e-services portal on the Ministry of Investment’s website to issue the investment license. As a third and final step, the investor visits the Ministry of Commerce’s website to notarize the articles of association and issue the commercial registration.
The Ministry of Investment confirmed that the new service, launched at a number of the Kingdom’s embassies, will bring about radical changes in the investor’s journey, facilitate the establishment and launch of foreign companies, and overcome the obstacles they previously faced, These include, for example, the difficulty companies faced in traveling to the Kingdom to notarize articles of incorporation, the multitude of documents required, the need to resubmit them, and the need to visit multiple government agencies for approval—all due to the lack of data integration between the Ministry of Investment and the Ministries of Commerce and Foreign Affairs in the past.
The Ministry clarified that it is in the process of launching a broad marketing campaign in several languages to promote the new service to the largest possible segment of foreign investors and companies and enable them to benefit from it.
