Saudi Arabia LLP

The Saudi Arabia LLP is the mode of establishing small scale partnerships under a new form of business structure.
The new structure will remove the difference between two types of firms: sole proprietorships/partnerships – the liability of whose partners is unlimited, and the firms whose sponsors enjoy the benefits of limited liability.
Key Features of Saudi Arabia LLP

Saudi Arabia LLP	Corporate Details
General
Type of Entity	Limited Liability Partnership (LLP)
Registered Office in Saudi Arabia	Yes
Shelf company availability	Yes
Corporate Taxation	None
Access to Double Taxation Treaties	No
Annual Zakat rate payable	2.5%
Share capital or equivalent
Standard currency	Saudi Riyal
Permitted currencies	Any
Minimum paid up	US $27000
Usual authorized	None
Bearer shares allowed	No
No par value shares allowed	No
Directors
Minimum number	One
Local required	Yes
Publicly accessible records	N/A
Location of meetings	N/A
Corporate directorship allowed	N/A
Members
Minimum number	Two
Publicly accessible records	Yes
Corporate shareholder allowed	Yes
Location of meetings	Anywhere
Accounts
Requirements to prepare	Yes
Audit requirements	Yes (small companies are exempt)
Requirements to file accounts	Yes
Publicly accessible accounts	Yes
Other
Requirement to file annual return	Yes
Migration of domicile permitted	No

Tax treatment
Statutory Income Tax (paid by non-Saudis) 20%.
Duration for set up of the Partnership
2 months. 
Distinctive Advantages of Saudi Arabia LLP

• 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.