The joint stock company (JSC) is arguably the most regulated form of corporate entity in Saudi Arabia. This is evident from the regulatory requirements for incorporation, from the degree of control and involvement of the Ministry of Commerce and Industry.

Key Features of Saudi Arabia Joint Stock Company

Saudi Arabia Joint Stock Company

Corporate Details

General

  • Type of Entity

Joint Stock Company

  • Registered Office in Saudi Arabia

Yes

  • Shelf company availability

No

  • Annual Zakat rate payable

2.5%

Share capital or equivalent

  • Standard currency

Saudi Riyal

  • Permitted currencies

Any

  • Minimum paid up

US $134000

Managers / Directors

  • Minimum number

Three

  • Local required

No

Members / Shareholders

  • Minimum number

Two

  • Location of meetings

Anywhere, not required

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 Joint Stock Company is 20%.

Duration for set up of the company

Six months. 

Distinctive Advantages of Saudi Arabia Joint Stock 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.