The Saudi Arabian General Investment Authority (SAGIA) has introduced an extension on the renewed licenses to five years. This service is available to all entities that are licensed by SAGIA and want to extend their license to a five-year period.
The benefits of this new service include; the five-year validity of license, the application process is only necessary every five years, and the possibility of renewing other relevant government documents for the same time period.
To apply for the extended license, the following documents are required; a copy of valid Zakat and Income tax payment certificate, a copy of a valid social insurance certificate (GOSI), a copy of a valid Saudization certificate, and the last financial statements audited by a chartered accountant (for those that have the Commercial Registration for over two years).
Applications can be processed on the SAGIA website, through the entity’s online account by clicking license services, and then license renewal.
In order to apply for this service, the prerequisites are; a valid WASEL address subscription, services subscription fees vary depending on the entity classification, the firm cannot apply for renewal when license validity is more than 90 days, and investment entities requesting a renewal are committed to updating contact information annually.
For assistance in applying for this license, contact Proven at +966 (11) 510 2725 or info@proven-sa.com.
