Telephone Numbers
Telephone Numbers
Opening a Corporate Bank Account in Saudi Arabia
For detailed information +90 542 381 3868 'Call.
Foreign companies may find opening a corporate bank account in Saudi Arabia challenging, but with your trusted partner, World Company Setup, everything becomes seamless.
The bank account opening process requires a thorough understanding of the regulations and requirements of the Saudi Central Bank (SAMA).
In Saudi Arabia, 31 banks are licensed by the Saudi Central Bank (SAMA). These include 11 local banks and 20 foreign bank branches. Some of the major banks in Saudi Arabia include Saudi National Bank, Al Rajhi Bank, and Samba Financial Group. Branches of international banks in Saudi Arabia include Emirates NBD, First Abu Dhabi Bank, Deutsche Bank, HSBC, Standard Chartered Bank, BNP Paribas, and the Industrial and Commercial Bank of China.
World Company Setup is well-informed about the specific requirements of banks in Saudi Arabia, and we can assist you in choosing the bank that suits your business needs.
The first step to opening a corporate bank account in Saudi Arabia is to organize the necessary documents. These include:
You don't need to worry about the documents. From obtaining your MISA investment license to registering your National Address, World Company Setup is your trusted business partner! We can help you arrange all the necessary documents to open your bank account.
Choose the Right Bank
After documentation, the next step is to choose the bank that suits your company's needs. It is important to research each bank's fees, services, and requirements before making a decision. World Company Setup can help you choose the most suitable bank according to your needs.
Submit the Documents
After selecting the bank, you will need to submit the required documents to them. The bank's compliance department will review them to ensure they are in order. The bank will also conduct a background check on the company and its directors.
Sign the Agreements
Once the bank is satisfied with the documents, you will be asked to sign the necessary agreements. These agreements include the terms and conditions of the account, as well as the bank's compliance policies.
Deposit Funds into the Account
The final step is to deposit funds into the account. This can be done by transferring money from another bank account or by depositing cash. Once the account is funded, the bank will provide you with the necessary information and documents to access your account.
Before opening a corporate bank account in Saudi Arabia, you must thoroughly understand the regulations and requirements set by the Saudi Central Bank. Banks in Saudi Arabia will open an account if the necessary documents are submitted and certain conditions are met. The process of opening a bank account requires patience and determination, but it is achievable with the right approach and a reliable partner.
World Company Setup is your trusted business partner, offering corporate solutions for all your business needs. With our help, you can open your bank account smoothly and run your business in a compliant manner.
Saudi Arabia's “visitor investor” e-visa will only be available to investors from certain countries, which have not yet been named. Saudi Arabia plans to extend the service to citizens of other countries in future phases.
+90 542 381 3868
+971 58 5204103