Commercial Agents can play a big role to investors who want to avoid the legal procedures of obtaining the Investment license. Saudi Arabia Agency Agreement Companies provides a room to these kind of Investors or Clients

Key Features of Saudi Arabia Agency Agreement Company

Saudi Arabia Agency Agreement Company

Corporate Details

General

  • Type of Entity

Agency Agreement Company

  • Registered Office in Saudi Arabia

Yes

  • Annual Zakat rate payable

2.5%

  • Can buy Saudi Arabia property

No

Share capital or equivalent

  • Standard currency

Saudi Riyal

  • Permitted currencies

Any

  • Minimum paid up

N/A

Managers / Directors

  • Minimum number

One

  • Local required

Yes

Members / Shareholders

  • Minimum number

One

  • Corporate Shareholders allowed

Yes

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

Yes

  • Requirements to file accounts

Yes

  • Publicly accessible accounts

Yes

  • Requirement to file annual return

Yes

Tax treatment

Corporate tax for a Saudi Arabian Agency Agreement Company is 20%.

Duration for company set up

Two months.

Advantages of Saudi Arabia Agency Agreement Company

  • Foreign companies are allowed to bid for government contracts and can operate in the kingdom without a Saudi Agent or Partner
  • Foreign companies enjoys exemption from customs duties on imports of machinery, equipments , tools and spare parts for Industrial projects
  • The Kingdom remains by far the largest Arab market, and is one of the world’s main trading nations in terms of goods and services. 

The Valsen Advantage

  • Speedy, Efficient and consistent Services.
  • Relentless effort to obtain bank accounts.
  • Expert advice on structuring options.
  • Dedicated ongoing compliance support.