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  • 23-08-21

    Saudi startup costs for commerce fees register drop 96 percent for companies

    (MENAFN)For companies, startup costs for commerce fees register dropped 96 percent and from 33 percent to 75 percent for enterprises for the first five years.

    As the country aims to increase the number of startups in the economy, Saudi Arabia is going to except small and medium enterprises (SMEs) from commerce fees register for three years.

    Exemption is going to be approved to those wishing to issue a new trade register from the financial equivalent for 3-years and reduction for subsequent years, the Ministry of Commerce stated.

    In the fourth and fifth year, fees are going to begin, but at a reduced rate of SR500 ($133) for entrepreneurs and SR200 for entrepreneurs with a capital of less than SR375,000 and whose employees do not surpass 5.

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