GACA updates entry mechanism for visitors and expats
Read this blog to learn some significant insights about the new entry mechanism issued by GACA for visitors and expats from non-banned countries.
How to comply with anti-concealment law
The anti-concealment law has been a significant concern by foreign investors regarding their business future. It has been a part of the national program to combat commercial concealment by the Ministry of Commerce.
FAQ on Company Registration in Saudi Arabia by Foreign Investors
This document is focused on resolving the most frequently asked questions about the steps and procedures required to form a company in Saudi Arabia.
The winning team
Recent updates saw the resumption of business activity make a new step. 2020 has filtered out businesses with low compliance and unstable practices, those businesses either ended up closing or damaged beyond recovery.
Calculating Zakat
It is common for companies to lose track of calculating Zakat as they grow and expand. Zakat is an Islamic form of charity and is one of the five main pillars of Islam. It applies to all types of wealth, from farming and crafting to major stocks, which means Saudi companies must abide by it and make it part of their financial equation every year.
New Year, New Tax: Saudi’s evolving taxation system
Saudi Arabia's tax system has evolved over the years to accommodate the economy’s needs and to help develop the country into the ambitious nation it is today.
Guide to Importing in Saudi Arabia 2019
Saudi Arabia imports are a growing industry that attracts foreign investors to the Kingdom. In 2017, Saudi Arabia imported $96.2 billion worth of goods into the Kingdom with a positive trade balance of $74.2 billion. Due to gaps in the market, there are many opportunities for importers in the Kingdom, such as the lack of manufacturing plants means products such as machinery and pharmaceuticals are largely imported. Saudi is also the largest importer of food and agricultural products in the Gulf Cooperation Council (GCC). The list of products imported in the Kingdom is long and is opportune for those looking to enter the market.
Compliance: Tourist visa vs Business visa
Compliance is an important part of business in Saudi Arabia; from company set up to payroll to visas. When businesses move or individuals visit the Kingdom, there are legal requirements that must be followed when acquiring a visa. Visa compliance encompasses choosing the right visa for your purpose of visit, ensuring you follow the restrictions on your visa during your visit, making sure your duration of stay and number of entries into the Kingdom are according to your issued visa.
Overcoming common challenges of doing business in Saudi
Expanding into a new market poses new challenges for businesses, such as differences in culture, legalities and ways of doing business.
Breaking Boundaries Event: How to Successfully Navigate the Saudi Market
Proven is hosting the Breaking Boundaries event, on how to navigate the Saudi market, for companies who want to or already have expanded to Saudi Arabia.
