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Minimum Saudi OwnershipPercentage |
Minimum Capital (SAR) | License Type |
- | - | Service |
- | 1,000,000 | Industrial |
25% | 26,666,667
Foreign investor’s share not less than SAR.20,000,000 and percentage shareholding not to exceed 75% |
Commercial |
- | 25,000,000 | Agricultural |
40% | - | Telecommunications |
30% | - | Telecoms’ Value Added Services |
40% | 100,000,000 | Insurance |
40% | 200,000,000 | Re-insurance |
40% | 200,000,000 | Real Estate Finance |
- | The value of each single project may not be less that SAR.30,000,000 in land and constructions outside of the boundaries of two holy mosques. | Real Estate Development |
25% | - | Engineering, Procurement, Construction (EPC) |
Lastly, SAGIA has indicated that the time frame to complete the fast-track registration process is five working days from the day the application together with all supporting documents are filed on SAGIA’s website (e-services’ gate).
Although the fast-track registration process represents a significant step forward, it remains to be seen in practice whether SAGIA will finalise the review of licensing applications within the indicated time frame so as to make good on its promise to make licensing of foreign entities in Saudi Arabia a straightforward and swift exercise, and ultimately make the Kingdom of Saudi Arabia an attractive destination for foreign investors.Published: | October 2015 |
Title: | SAGIA implements a fast track registration process in a bid to attract sizable foreign investments |
Practice: | Corporate and M&A, Commercial |
Author(s): | Cyrille Naffah |
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