Real Estate License provides service to foreign companies in the property field. In case that the total cost of the project, in terms of both land and construction, is not less than 30 million SAR. In terms of land and construction and the investment established outside the borders of the cities of Mecca and Medina.
Documents required for Real Estate License
- A copy of the commercial registration of the shareholding partner certified by the Saudi Embassy and a copy of the national identity. If one of the partners is a natural person holding the nationality of one of the GCC countries.
- Financial statements of the last financial year of the applicant company and certified by the Saudi Embassy.
Rules and Restrictions
- Consistency between the total percentage of the Saudi (shareholder/ shareholders) and the capital. According to the financial limits set forth for the type of activity.
- Premium residence holders are exempt from the above documents.
- In case that one of the partners was before licensed by the Ministry of Investment. It must be clarified when filling in the partner’s data while submitting the electronic application.
- The applicant must enter the data of the Saudi national identity / Premium residence/residence. If one of the partners holds any of them or the commercial registration data for the participating Saudi companies during the electronic application submission.
- In case the licensed business is related to property investment projects, the amount of the project to be constructed shall not be less than (30,000,000) Saudi Riyals for land and building outside the scope of Mecca and Medina.
Already have a business or want to start your own business in KSA|UAE, get in touch with Business Link. Our team of professionals is always here to offer you complete business solutions
