WhatsApp quoteThe tax position in Saudi Arabia is clear: 20% corporate tax on the foreign-owned share of profits, 2.5% Zakat on Saudi-owned share, and 15% VAT. Many of our clients add a Saudi Arabia entity to their UAE structure because many clients set up a UAE company first and use it as the parent for their Saudi entity. The most common businesses Icelanders open through GoldenKey are in seafood exports, aviation, geothermal technology and software, although Saudi Arabia supports almost any activity. Just as important, icelandic seafood and clean-energy know-how reach the Gulf through Dubai, which gives Icelandic entrepreneurs a ready market and supply chain the moment their Saudi Arabia licence is issued.
Why Saudi Arabia
On the ground, reasons company owners choose Saudi Arabia include the largest economy in the arab world, vision 2030 projects worth trillions, regional headquarters programme and a uae entity makes the saudi application easier. Requirements for a Saudi Arabia company are MISA investment licence, attested parent-company documents (generally a UAE or home-country entity with one year of financials) and commercial registration and Chamber membership. GoldenKey has prepared Saudi Arabia files for Icelandic clients in seafood exports, aviation, geothermal technology and software, which means we know which Iceland documents need attestation and which can be submitted as plain copies.
How Saudi Arabia works with GoldenKey
Step 1Structure and name check
We confirm the activity, shareholders and name availability with the Ministry of Investment (MISA) and Ministry of Commerce. If the authority raises a query on a Saudi Arabia company for Icelanders at this stage, we handle it the same day.
Step 2KYC and documents
As a rule, you provide passports, address proof and the information the Saudi Arabia registrar requires; GoldenKey prepares the forms.
Step 3Incorporation
Our Saudi Arabia partner files the incorporation and the registrar issues the certificate, typically within 4 to 8 weeks including MISA licence and commercial registration. Nothing is submitted for a Saudi Arabia company for Icelanders until you have reviewed and approved it.
Step 4Banking and compliance
GoldenKey arranges bank introductions in Saudi Arabia and diarises the annual compliance filings.
Documents required
Here is what you will need for a Saudi Arabia company for Icelanders; GoldenKey checks every item before submission.
- Educational certificates attested by the Iceland authorities and the UAE embassy, for professional activities
- A passport issued by Iceland with at least six months' validity
- A police clearance certificate from Iceland if the activity or the Golden Visa category requires it
- Bank reference
- A bank statement from your Iceland bank for the last three months, which banks use to understand your profile
- Passport copies
Pricing
Pricing for a Saudi Arabia company for Icelanders depends on the package you choose; every option below includes GoldenKey's service and the government fees stated. As a rule, use the table below to compare packages for a Saudi Arabia company for Icelanders; we will confirm the exact total for your case in a written quotation.
| GoldenKey service fee | AED 15,000 |
|---|---|
| Official fees (approx.) | AED 5,000 |
| Approximate total | AED 20,000 |
Fees in AED; MISA fees collected in SAR
Request this servicePrices are indicative, in AED, exclusive of 5% VAT where applicable, and confirmed in writing before payment. Last updated 2026-10-07.
Why the UAE
Residence visas for owners and families come with the company, which makes a Saudi Arabia company for Icelanders a route to relocation as well as a business decision. Since 2021, most mainland activities have allowed 100% foreign ownership, and free zones have always offered it, so a Saudi Arabia company for Icelanders no longer requires a local partner.
Why GoldenKey
GoldenKey is based in Ajman Free Zone and has helped founders from more than 60 countries with a Saudi Arabia company for Icelanders, so the paperwork, approvals and timing hold no surprises for us. Day to day, we will tell you plainly if Saudi Arabia is not the right choice for your plan and point you to a better option, even when that option costs less. We speak the languages our clients speak, including English, Arabic, Hindi, Urdu and Malayalam, and we can arrange Russian, French and Mandarin support for a Saudi Arabia company for Icelanders.
Tell us about your plans for a Saudi Arabia company for Icelanders and GoldenKey will come back to you shortly with a clear price, a document checklist and a realistic timeline.
Frequently asked questions
What are the annual obligations for a Saudi Arabia company?
Annual returns, accounts and tax filings vary by jurisdiction; GoldenKey provides a compliance calendar and local accounting support.
Do I need to travel to Saudi Arabia to incorporate?
In most cases no. Incorporation is handled by our local partner under a power of attorney. Some banks in Saudi Arabia require a video or in-person meeting.
How does Saudi Arabia compare with a UAE free zone?
Each serves different markets. GoldenKey usually recommends the UAE as the operating base and Saudi Arabia where you have customers, suppliers or treaty benefits there.
Do Icelanders need a UAE visa before applying for Saudi Arabia?
Not in that case. You can apply for the licence from Iceland with scanned documents, and the investor residence visa is processed afterwards.
Can a Icelandic citizen own 100% of a company in Saudi Arabia?
Yes. Icelanders can own the full share capital of a Saudi Arabia company with no local partner, exactly like any other nationality.
