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Yasuke
Joined: 10 Jan 2014
Posts: 178
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 Posted: Mon Jul 06, 2015 1:53 pm Post subject: Starting a company KSA |
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| Is it possible to start a company while working for a company in Saudi? |
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scot47
Joined: 10 Jan 2003
Posts: 15343
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| Posted: Mon Jul 06, 2015 1:55 pm Post subject: |
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| Only Saudi citizens can do that. |
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Yasuke
Joined: 10 Jan 2014
Posts: 178
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| Posted: Mon Jul 06, 2015 1:57 pm Post subject: |
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| Why? |
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nomad soul
Joined: 31 Jan 2010
Posts: 11454
Location: The real world
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| Posted: Mon Jul 06, 2015 2:19 pm Post subject: |
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| Foreigners are legally required to have a Saudi partner. Moreover, it's in violation of Saudi law to work another job unless you have permission from your Saudi sponsor. |
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caliph
Joined: 05 Jun 2006
Posts: 218
Location: Iceland
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| Posted: Mon Jul 06, 2015 2:33 pm Post subject: |
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Being in business with a Saudi partner usually turns out badly. House arrest, jail due to disagreements with Saudi partner, usually over money.
And then there's the case of an ex-pat partnered with a prince to distribute bonded whiskey that the prince could bring in without customs inspection (by the cargo container load).
Go to jail, go directly to jail. do not pass "GO". Do not collect two hundred Rials.
Of course, every time a king dies, there is a general amnesty for non-violent crimes and you get deported. This happens every couple of years. |
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scot47
Joined: 10 Jan 2003
Posts: 15343
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| Posted: Mon Jul 06, 2015 10:00 pm Post subject: |
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| Why is Yasuke asking "Why ?" ? Endless questions directed at those with knowledge of KSA - but no indication of what (s)he intends. |
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BajaLaJaula
Joined: 25 Jan 2007
Posts: 267
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| Posted: Tue Jul 07, 2015 1:34 am Post subject: |
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You would need a Kafala (Saudi sponsor).
Last edited by BajaLaJaula on Tue Jul 07, 2015 10:49 am; edited 1 time in total |
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nomad soul
Joined: 31 Jan 2010
Posts: 11454
Location: The real world
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| Posted: Tue Jul 07, 2015 1:39 am Post subject: |
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| And again, you can't openly work for two Saudi sponsors. Therefore, you'd have to quit your teaching job (unless you're not yet working in KSA). |
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babur
Joined: 10 Aug 2010
Posts: 178
Location: Dammam, Saudi Arabia
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| Posted: Tue Jul 07, 2015 9:34 am Post subject: Doing business in Saudi |
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| Times have changed. It is now possible to set up an independent company in Saudi provided you go through the right channels. |
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Yasuke
Joined: 10 Jan 2014
Posts: 178
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| Posted: Tue Jul 07, 2015 9:40 am Post subject: |
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| Thanks Babur for the useful information. |
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nomad soul
Joined: 31 Jan 2010
Posts: 11454
Location: The real world
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| Posted: Tue Jul 07, 2015 10:00 am Post subject: Re: Doing business in Saudi |
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| babur wrote: |
| Times have changed. It is now possible to set up an independent company in Saudi provided you go through the right channels. |
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Foreigners wishing to conduct business in Saudi Arabia may do so by establishing a permanent presence in Saudi Arabia or by entering into an agency relationship for the distribution and sale of their products. Below is a summary of the business forms available under Saudi law:
A. Limited Liability Company (LLC)
This is the most common form for entering into joint ventures with Saudi partners; however, a Saudi partner is not required since there are no legal limitations on the percentage of foreign ownership.
The minimum capital investment required to establish an LLC is SR 500,000. An LLC must have between 2 and 50 shareholders and is managed and represented by one or more managers. There is no Board of Directors, although shareholders often provide for a Board and other management arrangements in the Memorandum of Association. The LLC must also have an auditor and, where it has more that twenty (20) partners, it must establish a Board of Controllers.
Source: http://www.mideastlaw.com/middle_eastern_laws_saudi_arabia.html |
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babur
Joined: 10 Aug 2010
Posts: 178
Location: Dammam, Saudi Arabia
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| Posted: Tue Jul 07, 2015 10:27 am Post subject: Living in KSA |
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| Are you here in the Kingdom NS? Read that first line up to "or".Permanent residence is all you need. A lawyer can arrange that for you. You can come and go as you please. Many foreign consultants like us have small apartments (12 months rent up front) That makes things much easier. No need to set up an LLC. |
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nomad soul
Joined: 31 Jan 2010
Posts: 11454
Location: The real world
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| Posted: Tue Jul 07, 2015 10:50 am Post subject: |
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Yes, I purposely included that first line. But at the same time, the OP hasn't provided any info on what the business is, or if he/she is expecting to show up as a teacher via a sponsored employment visa and subsequently, forking out a wad of money to start a business on the side.
Regardless, there are specific websites with info about setting up a company in KSA. That's a smart place for the OP to start. |
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veiledsentiments
Joined: 20 Feb 2003
Posts: 17644
Location: USA
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| Posted: Tue Jul 07, 2015 2:05 pm Post subject: |
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How exactly would a foreign TEFL teacher who has probably been hired by some borderline shady contractor on an illegal business visa establish a PERMANENT residency??
VS |
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johnslat
Joined: 21 Jan 2003
Posts: 13859
Location: Santa Fe, New Mexico, USA
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| Posted: Tue Jul 07, 2015 2:15 pm Post subject: |
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A big truckload of wasta would be required. 
Regards,
John |
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