As a foreigner, setting up your business in Saudi Arabia can be a daunting task. At first, you’ll most likely experience culture shock, and this will affect your business. so, to make things easy for you, we came up with this how to start a business Saudi Arabia guide.
This guide will help you to know the culture, the basic things you need to know when starting a business in the country, and the process of setting up your business in the country.
In Saudi Arabia, the hierarchical structure is duly followed and you are expected to respect the highest-ranking officer during any business meeting. So, your how to start a business Saudi Arabia won't be complete without this step, make sure you respect your business partners and other people in the country at all times.
It is important to show up very early when you are doing business with Saudis. They can arrive before the stated time to please their business counterparts. If you have been preparing to start a business in the country, remember to always be punctual when you have any business meeting with your Saudi Arabia business counterpart.
When you enter a room or any place where you have your Saudi Arabia counterpart, you've to start greeting them starting from the right, the greeting format is a handshake.
If you have been thinking of how to start a business Saudi Arabia, it is important to know the right way to address your business counterpart in the country. If you want to address your business associate in the country, address them with their title followed by their first name.
If you are meeting your Saudi Arabia counterpart in their office they might serve you tea, coffee, or sweet. Business cards are not essential but if you must present a business card to your business associate in Saudi Arabia, do that with your right hand. This is a how to start a business Saudi Arabia guide you must know when you are planning your business trip to the country.
If you have been looking for how to start a business Saudi Arabia, it is important to know when to book an appointment in the country. Always book your appointment in the morning or after the lunch break. Generally, if you want to book an appointment with your Saudi Arabian business associate, let it not affect their prayer if not they can pause the meeting halfway.
The decision-making process in the country is slow, when that happens just exercise some patience.
Personal relationship means a lot in their business settings, the Saudis like to meet their business counterpart face to face to face. They also like doing business with people they trust; so, you have to be honest while doing business with the Saudis.
Saudis like to know more about their business partners, so as to build a strong business relationship with them.
Their business weekdays is from Sunday through Thursday and their weekend is Fridays and Saturdays
First, you must study the market to know the best product/service that is good for the people. this is an important part you need to take before starting your business in Saudi Arabia. So, this is your first important how to start a business Saudi Arabia guide.
The next is your business plan, after the research the next step will be writing a business plan. Your business plan will guide you on how to start and run your business in order to be successful with the business in the country.
When you register your business in the country, you must prove to the Ministry of commerce that you have enough resources to run your business. The amount of money varies, each state has a specified amount and it ranges from $10K - $33K.
The first thing to do when you want to establish your company in Saudi Arabia as a foreigner will be to get a foreign investment license in the country from the right authority.
The next stage will be to get a Memorandum of action and you can do this at the Ministry of Commerce office. There are some requirements you have to meet before getting that.
To finalize the process, you should you have to get a General Director’s Visa and you can get that from the Ministry of Investment department.
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How To Start A Business Saudi Arabia Table of Contents
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