Establishing a GCC national branch company in Saudi Arabia offers a unique opportunity for businesses owned by GCC nationals to expand their operations in one of the region’s most dynamic markets. With a growing economy and favorable government policies, Saudi Arabia presents an attractive destination for GCC nationals looking to tap into its vast market potential. This article outlines the requirements, step-by-step procedure, and benefits of setting up a GCC national branch company in Saudi Arabia.
Requirements
- Parent Company Ownership:
- The parent company must be owned by GCC nationals ( Kuwait, Bahrain, Oman, Qatar, or the UAE).
- Parent Company Documentation:
- The parent company must provide the necessary documentation, including the business license, memorandum of association, and resolution to establish a branch in Saudi Arabia.
- Share Capital:
- Although there is no minimum capital requirement for branches, sufficient capital to support operations is advisable.
Step-by-Step Procedure
Prepare Documentation
- Gather all necessary documents from the parent company, including:
- Business License (Commercial Registration or Certificate of Incorporation).
- Memorandum and Articles of Association.
- Board resolution approving the establishment of the branch.
- A power of attorney for the local representative.
Notarize Documents
- Notarize the documents at the relevant authorities and ensure that they are authenticated by the Saudi Embassy in the home country of the parent company.
- Consultation and Planning:
- Engage with Arab Dreams to understand the requirements and plan the business model.
- Reserve Company Name:
- Submit a request to MOCI to reserve the chosen company name.
- Drafting and Notarization of AoA:
- Draft the Articles of Association and get them notarized by a recognized authority.
- Apply for Commercial Registration:
- Submit the necessary documents, including the notarized AoA, to MOCI for obtaining the Commercial Registration (CR).
- Obtain a Tax Registration:
- Register with the General Authority of Zakat and Tax (GAZT) to obtain a Tax Identification Number (TIN).
- Register with Other Authorities:
- Depending on the business activities, register with relevant authorities like the General Organization for Social Insurance (GOSI) and the Ministry of Labor.
- Open a Corporate Bank Account:
- Open a bank account in the company’s name and deposit the initial capital (if required).
- Final Approvals:
- Once all registrations are completed, obtain all necessary licenses and permits to commence business operations.
Benefits of Establishing a GCC National Branch Company
- Market Access:
- GCC nationals can leverage Saudi Arabia’s extensive market and consumer base, which is one of the largest in the region.
- Easier Setup Process:
- Setting up a branch company is generally less complex compared to establishing a new legal entity, with fewer requirements and paperwork.
- Flexibility:
- Branch companies enjoy the flexibility of operating under the parent company’s umbrella, which can lead to reduced operational costs.
- Full Operational Control:
- GCC nationals maintain control over the branch’s operations while benefitting from the established reputation and support of the parent company.
- Access to Incentives:
- The Saudi government provides various incentives for GCC nationals, including streamlined licensing processes and potential tax benefits.
- Enhanced Credibility:
- Being part of a GCC national company can enhance credibility and brand recognition in the Saudi market.
Benefits of Using Arab Dreams for Your GCC National Branch Company Formation
- Streamlined Process:
We handle all legalities and paperwork, ensuring smooth and efficient company formation. - Local Expertise:
Our team’s deep knowledge of Saudi Arabian business regulations helps you save time and resources. - Multilingual Support:
We provide seamless communication in English , Hindi and Arabic, eliminating language barriers.. - Tailored Solutions: We provide personalized strategies aligned with your business objectives.
Contact Us to Setup GCC National Branch Company in Saudi Arabia
