In light of the economic development and investment reformation witnessed by the Kingdom of Saudi Arabia, and its desire to promote foreign investment and attract investment funds to the Kingdom, in addition to the participation of several European and Arab countries in the digital transformation, enhancing the economy and supporting all sectors, the Royal Commission provides opportunities for foreign governments to open Liaison Offices in KSA to seek and benefit from available investment ventures.
Therefore, rules and regulations have been set for these liaison offices, and consultation services are provided to find available investment opportunities. This shall be clarified below:
What are Economic and Technical Liaison Offices?
These are offices that represent the governments of foreign countries. The license is granted to the economic and technical liaison offices representing those countries in the Kingdom.
Required Documentation:
A resolution addressed to the Ministry of Investment from ministries, governmental bodies or competent authorities to open the economic and technical liaison office in the Kingdom.
A letter addressed to the Ministry of Investment from the Ministry of Foreign Affairs requesting the issuance of the license, indicating a detailed work plan for the activities and services to be provided within the Kingdom.
Rules and Restrictions
The office may study the markets and report to the relevant authorities in their home countries that wish to have a license. The office shall also submit an annual summary report of its activities to the Ministry of Investment.
The office may not execute any contracts, businesses, or investments in the Kingdom, directly or indirectly.
The Ministry of Investment may revoke the license or cease its renewal whenever it deems the office's role is beyond its authorized purpose.
Licenses Fees
License fees are 2,000 Saudi Riyals yearly with a maximum of five years.
Service fees shall be paid within (60) days from the bill issuance date. In case of delay, the service shall be canceled and a new application has to be submitted.
The temporary licenses are applied for through the website (the E-Services Portal) of the Ministry of Investment, and the license is issued within a maximum of two working days.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
