Real Estate License in Saudi Arabia - Al Taasis

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Real Estate License
in Saudi Arabia

Saudi Arabia is a hub for real estate investment, with a growing number of local and international investors attracted to the country’s expanding property market. This investment has contributed to the sector’s growth and stimulated new development projects.

The real estate market in Saudi Arabia is expected to boom in the coming years, driven by a combination of government investment, increasing demand for housing and commercial properties, and the ongoing implementation of Vision 2030 initiatives.

Transport Sector
in Saudi Arabia at a Glance

Significance of the Real Estate Market in Saudi Arabia

The residential real estate market in the Kingdom is particularly active, with demand for affordable housing outstripping supply in many parts of the country. In addition to the residential sector, the commercial real estate market in Saudi Arabia is also experiencing growth, particularly in the retail and hospitality sectors. Several new shopping malls and hotels have been constructed recently, and demand for office space is also rising.

Housing

The government has prioritized providing affordable housing for Saudi citizens, and various initiatives have been launched to address the housing shortage. The government's housing program, Sakani, aims to provide housing for over one million Saudi families by 2030.

Commercial Real Estate

The commercial real estate sector in Saudi Arabia is also growing rapidly, with a significant increase in demand for office and retail spaces. The country's Vision 2030 plan emphasizes the development of the private sector, which is expected to boost demand for commercial real estate.

Real Estate Finance

The Saudi Arabian Monetary Authority (SAMA) has introduced various measures to encourage the growth of the real estate finance sector, such as lowering the minimum down payment for mortgages and introducing new mortgage products.

Tourism

The government's Vision 2030 plan aims to increase tourism in the country, which is expected to boost the hospitality and leisure real estate sector. The government has also launched various initiatives, such as the Red Sea Project and Qiddiya, which aim to develop new tourism destinations.
Overall, the real estate sector in Saudi Arabia is poised for continued growth, driven by the government's focus on economic diversification, population growth, and rising demand for housing and commercial real estate.

Real Estate Licensing Requirements in Saudi Arabia

This license is provided to foreign companies in the property field if:

· The project’s total cost, including land and construction, should be at least 30 million Saudi riyals.

· The investment is established outside the cities of Mecca and Medina.

License to practice bus public transportation within cities
View Requirements

License to Practice Bus Public Transportation within Cities

This license permits international companies to operate public bus transportation services in cities within the Kingdom of Saudi Arabia.

Required Documents

  1. The Company’s Board of Directors’ resolution indicating their plan to invest in the Kingdom of Saudi Arabia, listing the names of shareholders, capital amount, shareholders’ shares, business activity, location, and the appointment of General Manager and his powers, authenticated by the Saudi Embassy.
  2. A copy of the business entity’s commercial registry from its country of origin, with authentication from the Saudi Embassy.
  3. Evidence demonstrating adherence to contract completion timelines in the previous five years.
  4. Documentation showing financial capability aligned with the project’s capital requirements, shareholder contribution, consistency with the project’s implementation plan, and in accordance with the financial restrictions established for the type of activity.

Rules and Restrictions

  1. Alignment of the Saudi shareholder(s) percentage and capital with the financial restrictions outlined for the type of activity.
  2. The foreign company’s average revenue over the past three years prior to the license grant must be at least 3 billion Saudi riyals, with a minimum asset value of 1.5 billion Saudi riyals.
  3. The foreign company must hold licenses in at least two countries and have a minimum of 10,000 employees.
  4. The minimum capital requirement for bus procurement, operation, and maintenance must meet the Ministry of Investment’s standards for service sector companies (500,000 SAR).
  5. In the case of a Saudi shareholder, a copy of the Department of Transportation/Public Transportation Authority license for bus transportation activities is required.
  6. Compliance with the nationalization quotas set by the Ministry of Labor and Social Development for transportation services, as amended.
  7. The establishment’s record requesting the license must not include any previous license revocations, either inside or outside of Saudi Arabia, within the ten years prior to the license request.
  8. There should be no record of fines or penalties related to traffic safety, either inside or outside of Saudi Arabia, in the ten years prior to the license request.
  9. Approval from the relevant authorities in Saudi Arabia for the use of public transportation during emergencies, crises, and wars.
  10. Technical specifications and production processes must adhere to Saudi, Gulf, or international standards.
  11. The applicant must submit annual plans for improving security levels to the Public Transport Ministry for review.
  12. The applicant must provide data of the Saudi national identity, premium residency, residency, or commercial registration data for any participating Saudi companies when submitting the electronic application.
Contact us to obtain your Transport License fast.
Real Estate Licensing
View Requirements

Real Estate Licensing Requirements in Saudi Arabia

Required Documents

  1. You will provide these:
    1. A copy of the commercial registration of the shareholding partner certified by the Saudi Embassy.
    2. A copy of the commercial registration of the shareholding partner certified by the Saudi Embassy.
  2. You will provide the applicant’s foreign company’s financial statements for the last financial year certified by the Saudi Embassy.

Rules and Restrictions

  1. You will provide the applicant’s foreign company’s financial statements for the last financial year certified by the Saudi Embassy.
  2. Premium residence holders have an exemption for the above documents.
  3. If one of the partners was previously licensed by the Ministry of Investment, it must be mentioned in the partners’ data while filling out the electronic application.
  4. 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 while filling out the electronic application.
  5. 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 while filling out the electronic application.

Obtain Your Real Estate License in Saudi Arabia with Al Taasis

At Al Taasis, we are committed to helping our clients achieve their business goals in the Saudi Arabian real estate market. Our experienced team of professionals has the knowledge and expertise to guide you through setting up your real estate business and positioning yourself for success.

Contact us to obtain your Real Estate License fast.
License to practice other transport
View Requirements

License to Practice Bus Public Transportation within Cities

This license permits international companies to operate public bus transportation services in cities within the Kingdom of Saudi Arabia.

Required Documents

  1. The Company’s Board of Directors’ resolution indicating their plan to invest in the Kingdom of Saudi Arabia, listing the names of shareholders, capital amount, shareholders’ shares, business activity, location, and the appointment of General Manager and his powers, authenticated by the Saudi Embassy.
  2. A copy of the business entity’s commercial registry from its country of origin, with authentication from the Saudi Embassy.
  3. Evidence demonstrating adherence to contract completion timelines in the previous five years.
  4. Documentation showing financial capability aligned with the project’s capital requirements, shareholder contribution, consistency with the project’s implementation plan, and in accordance with the financial restrictions established for the type of activity.

Rules and Restrictions

  1. Alignment of the Saudi shareholder(s) percentage and capital with the financial restrictions outlined for the type of activity.
  2. The foreign company’s average revenue over the past three years prior to the license grant must be at least 3 billion Saudi riyals, with a minimum asset value of 1.5 billion Saudi riyals.
  3. The foreign company must hold licenses in at least two countries and have a minimum of 10,000 employees.
  4. The minimum capital requirement for bus procurement, operation, and maintenance must meet the Ministry of Investment’s standards for service sector companies (500,000 SAR).
  5. In the case of a Saudi shareholder, a copy of the Department of Transportation/Public Transportation Authority license for bus transportation activities is required.
  6. Compliance with the nationalization quotas set by the Ministry of Labor and Social Development for transportation services, as amended.
  7. The establishment’s record requesting the license must not include any previous license revocations, either inside or outside of Saudi Arabia, within the ten years prior to the license request.
  8. There should be no record of fines or penalties related to traffic safety, either inside or outside of Saudi Arabia, in the ten years prior to the license request.
  9. Approval from the relevant authorities in Saudi Arabia for the use of public transportation during emergencies, crises, and wars.
  10. Technical specifications and production processes must adhere to Saudi, Gulf, or international standards.
  11. The applicant must submit annual plans for improving security levels to the Public Transport Ministry for review.
  12. The applicant must provide data of the Saudi national identity, premium residency, residency, or commercial registration data for any participating Saudi companies when submitting the electronic application.
Contact us to obtain your Transport License fast.
Contact us to obtain your Real Estate License fast.