Until early 2025, foreign investors entering Saudi Arabia typically applied for a MISA investment license. That system has changed.
Under the new Investment Law (Royal Decree M/19 of August 2024, in force since February 2025), the old licensing regime was replaced by Investment Registration. Foreign investors must now complete this registration with the Ministry of Investment (MISA) before they can obtain a Commercial Registration (CR).
Key Differences: Old License vs New Registration
Nature of Approval
Under the previous system that operated until early 2025, foreign investors were required to obtain an Investment License from MISA (formerly SAGIA). This was a discretionary license that needed periodic renewal. The new Investment Law replaced this with a simpler Investment Registration process that is more straightforward and predictable.
Fees
Previously, an annual fee of SAR 62,000 was charged for each license. Under the new system, this annual fee is no longer collected, significantly reducing the ongoing cost of maintaining investment approval in Saudi Arabia.
Activities
In the old system, separate licenses were often required for different categories of activities such as services, industrial, or trading. The new registration model generally allows multiple activities to be combined under a single registration, reducing administrative complexity.
Ongoing Obligations
Previously, investors had to complete a full license renewal and pay the associated fee. Under the current system, investors only need to complete an annual update of their information with MISA.
Processing Time
The old system officially targeted a processing time of 3 to 4 working days. The current Investment Registration process has an official review period of up to 10 working days once a complete application is submitted.
Overall Framework
The new framework treats local and foreign investors under a more unified system. While the process remains mandatory for non-GCC foreign investors, it is generally simpler and less costly than the previous licensing regime.
Who Must Register?
Non-GCC foreign investors (companies and individuals) must complete Investment Registration before engaging in investment activities in Saudi Arabia.
GCC nationals and fully GCC-owned companies are generally treated as local investors. Premium Residency holders receive certain document exemptions.
Step-by-Step Process
1. Confirm activities and structure
Select the correct ISIC4 activity codes and decide on the legal form (most commonly a Limited Liability Company).
2. Prepare the required documents
Core documents typically required for a foreign corporate investor:
- Commercial Registration (or equivalent) of the foreign company, authenticated by the Saudi Embassy
- Financial statements for the last fiscal year, authenticated by the Saudi Embassy
- Activity-specific requirements (where applicable)
Additional documents such as board resolutions and passport copies of authorized persons are commonly requested in practice.
3. Submit the application online
Applications are submitted through the Invest Saudi e-services portal. No physical visit to MISA is required.
4. MISA review
Complete applications are reviewed within a maximum of 10 working days.
5. Fee payment (if applicable)
If a fee is assessed, it must be paid within the deadline stated in the notification (commonly 15 working days). Failure to pay on time voids the registration.
6. Receive the Investment Registration Certificate
Once approved, the certificate allows you to proceed to the Ministry of Commerce for trade name reservation, Articles of Association authentication, and Commercial Registration.
Common Reasons for Delay or Rejection
- Incomplete or improperly authenticated documents
- Inconsistencies in company names or details across documents
- Incorrect or restricted activity codes
- Outdated financial statements
- Missing activity-specific requirements
Most issues are resolved by correcting the file and resubmitting.
After Receiving the Registration
You must still complete Commercial Registration and the subsequent operational steps, including ZATCA, GOSI, Qiwa, National Address, Chamber of Commerce, bank account opening, and any sector-specific licenses.
Ready to start your Investment Registration?
The move from licensing to registration has reduced costs and simplified the framework for most foreign investors. Success now depends primarily on accurate activity selection and properly authenticated documentation.
Key Takeaway
Avoid delays caused by incomplete documents or incorrect activity selection.
Speak with our team today for a free review of your eligibility, required documents, and next steps under the new Investment Registration process.