Guide to MISA License in Saudi Arabia:
The Saudi Arabian General Investment Authority(SAGIA) is the former name of the Ministry of Investment Saudi Arabia(MISA). The Kingdom established SAGIA in 2000, which was responsible for attracting investment and licensing for local and global investors.
SAGIA was fully transformed into a ministry in 2020 and renamed to MISA (Ministry of Investment Saudi Arabia), which is solely responsible for issuing investment licenses to foreign investors and overseeing foreign investment into the Kingdom.
What is a MISA License?
A MISA license is your ticket to business setup in Saudi Arabia and tap into the growing investment into infrastructure of the Kingdom.
It is Formerly known as the SAGIA license, it enables international businesses to expand to Saudi Arabia by allowing for complete foreign ownership of businesses without any local sponsors or restraints on capital—so your business remains 100% yours.
Why Choose the MISA License?
Obtaining the MISA license is the best, most efficient way to enter and invest in the Saudi market. Here’s why:
- It is a quick and seamless process
- It enables you to have complete ownership of your business, making you the sole proprietor of your company
- You will be eligible to apply for loans across the region
- There is no limitation on the amount of revenue you can repatriate
- It allows you to be part of the Saudi market without a local sponsor
How to Obtain a MISA License?
The application process for the MISA license is straightforward but requires careful attention to detail. Here are the key steps involved:
a) Online Registration: Begin by registering your business on the MISA online portal and creating an investor account.
b) Document Submission: Submit all the necessary documents, including your business plan, financial statements, and relevant legal documents.
c) Application Review: MISA will thoroughly review your application and may request additional information if needed.
d) Approval and License Issuance: Once your application is approved, you will receive the MISA license, allowing you to proceed with your business setup.
Firstly, All you need to do to initiate the process of obtaining the MISA license is to submit copies of the following business documents:
- Articles of Association Commercial registration (or equivalent)
- Financial Statement for the previous year
(All documents to be legalized by the local Saudi Consulate.)
Role of MISA in Saudi Vision 2030:
In line with the Saudi Vision 2030, the Ministry of Investment of Saudi Arabia (MISA) is facilitating the transformation of the country’s economy by encouraging business setup in Saudi Arabia. It is actively creating new opportunities for foreign investors, and ensuring that the process is smooth and accessible.
Now, all you need to do to set up your business in the Kingdom is:
- Obtain the MISA license
- Choose your business entity, such as whether you want to establish a JSC or an LLC in Saudi Arabia
- Register with the required Government agencies
Eligibility Criteria for MISA License:
There are certain criteria that must be met if you want to be eligible for the MISA license. These requirements might vary based on the industry and sector in which your business operates.
However, the general eligibility criteria include:
a) Business Plan: A detailed business plan outlining your investment objectives and strategies is mandatory.
b) Capital Investment: Demonstrating a minimum capital investment, as per the regulations, is essential.
c) Market Research: Conduct thorough market research to justify the feasibility of your business in the Saudi market.
d) Local Partner or Sponsor: In some cases, you might require a local partner or sponsor. Check before you choose which sector to invest in.
e) Legal Structure: It is good to determine the appropriate legal structure for your business, such as a limited liability company or a joint-stock company.
Arnifi is digital first Corporate service provider helping companies enter the Middle East region, starting with UAE and Saudi Arabia markets. Founded and backed by professionals from Amazon, Souq and other large companies operating in KSA – the team understands what it takes to succeed as a startup in both UAE and Saudi Arabian markets, apart from going through the setup process multiple times.
Arnifi will provide a truly digital experience to entry and scale up of companies both UAE and Saudi Arabia. The Arnifi promise is simple, yet revolutionary, use technology and a great team to provide transparency, efficiency and great customer experience in the whole process.
Check out at – www.Arnifi.com for more details.
