RIYADH: Those wishing to start a business in Saudi Arabia while outside the Kingdom will find the task easier following the streamlining of the licensing procedure.

Setting up a business in the Arab world’s biggest economy now will require only three steps, reducing the legwork that investors have to go through.

The initiative by the Ministry of Investment, in cooperation with the Ministry of Foreign Affairs and the Ministry of Commerce, will see business licenses issued more quickly.

First, investors need to request an attestation for a contract from the Ministry of Foreign Affairs. Investors then apply for a business license from the Ministry of Investment.

Finally, they need to authenticate the establishment contract of the business and issue the commercial register with the Ministry of Commerce.

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© Saudi Press Agency 2021