What is a MISA License?
The MISA license, issued by the Ministry of Investment of Saudi Arabia, is the single most important document for any foreigner looking to establish a business in the Kingdom. It is a foreign investment license that grants you the legal right to own a company in Saudi Arabia, typically allowing for 100% ownership.
Without a MISA license, you cannot proceed to the next steps of incorporation, such as obtaining a Commercial Registration (CR).
Types of MISA Licenses
MISA offers various types of licenses based on the nature of the business activity. The two most common for startups and service-based companies are:
- Service License: For companies providing professional, technical, or consulting services.
- Entrepreneurial License: A specialized license for innovative tech startups that meet certain criteria, often providing additional benefits and a faster process.
Other licenses exist for activities like trading, manufacturing, and real estate.
Key Application Requirements
The application process is done online via the MISA portal. You will need to prepare a comprehensive set of documents, which typically includes:
- A detailed business plan outlining your proposed activities in KSA.
- Copies of the parent company's commercial registration and financial statements (if applicable).
- Passport copies of the company's general manager and shareholders.
- A board resolution authorizing the investment in Saudi Arabia.
All foreign documents must be notarized and attested by the Saudi Embassy in your home country. This process can be time-consuming and should be started early.
Final Thoughts
The MISA license is your gateway to the Saudi market. The application requires careful preparation and attention to detail. Working with a professional service provider can help you navigate the document attestation process and ensure your business plan meets MISA's expectations, avoiding costly delays.