New SAGIA Regulations
Please note that following issues developed by Saudi Arabian General Investment Authority (SAGIA):
1- New SAGIA regulation regarding the license Duration:
SAGIA is now renewing the license for 1 YEAR if the company has the following:
· The company has more than 50 Employees
· Has less than 50 but in the Industrial Sector
Which mean that any services companies (construction , IT,…) has less than 50 Registered employees, will renew their license for 6 months only ( SAGIA license duration)
2- Renewing Time:
SAGIA is now requesting all the companies to start renewing the license, for all the companies before 2 Months (60 days) of the Expire date. In order to avoid your account in the bank/CR and other documents will freeze. The process will take 2 months to be renewed (less of more depend on the Branch/company activity)
3- New SAGIA requirements for Industrial
SAGIA is now requesting the last 3 (Three) Balance Sheets for any new Industrial companies coming to Saudi Arabia, Which means both industrial & Services are now sharing this requirements.
4- SAGIA using Android Technology
For all Smart Phone users, you may download SAGIA application from your Play Store, where you will find updated information about the following:
· Registration Requirements ( for new and existing companies)
· Track you Application with SAGIA
· Book your appointment
· Special contact number for cleaning against SAGIA member
· SAGIA contact number by city
5- Please find attached ( in Arabic and GCH English translation) the list of Violations issued by SAGIA few months ago. In Article number 5 , you will find a list of more than 60 violations, which companies shall take care of.