SAUDI ARABIA

30 new firms enter Saudi market daily

March 06, 2023

Okaz/Saudi Gazette

RIYADH
— A recent government report has revealed that an average of 30 firms were opened per day during the past year.

According to the report, a total of 7395 commercial registers were issued from the beginning of 2022 until September 7 of that year. Among the new entities, 5944 firms opened their register in the main business category while 1451 were in the category of branch offices.

The number of companies that started business activity last year reached 460. Establishments made up the major share of new registrants with 5772 firms while 1163 establishments were opened without mentioning their classification.

The report confirmed that the duration for the issuance of commercial registration did not exceed three minutes from the beginning of the submission of the application until the registration was issued to individual establishments.

When submitting an application for a commercial registry, the applicant will be provided with an application number, which he can follow up using the easiest and fastest communication means, such as a mobile phone.


March 06, 2023
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