Organization : Saudi Arabian General Investment Authority
Facility : Transfer of Sponsorship of the Foreign Investor
Country : Saudi Arabia
Website : https://sagia.gov.sa/en/InvestorServices/InvestmentServicesGuide/Pages/License-renewal-(for-companies-delayed-on-CR-issuance).aspx
SAGIA Transfer of Sponsorship of the Foreign Investor
A resident expatriate possessing an investor(s) license is allowed to transfer sponsorship under the following circumstances :
Related : SAGIA Obtain Temporary Certificate to Submit Proposals for Government Project Saudi Arabia : www.statusin.org/42204.html
** Exit of a foreign investor from the entity ownership according to service number (05,02) of this Guide.
** Issuance of converting the entity to national according to service number (08,00) of this Guide.
** Optional cancellation decision. According to the service number (09,00) of this Guide.
** The issuance of the decision to cancel the punitive / withdrawal of the license / non-renewal, all of which any of the following conditions are met :
1. If the Foreign Investor is married to a Saudi female and has children from her.
2. Son of Saudi mother
3. If the Investor is a Palestinian national holding an Egyptian identification document.
4. If the Investor is a holder of another license granted by SAGIA, and wants to transfer his sponsorship to the other firm, provided that the project is legitimate.
Service Documents
** A letter from the investor to SAGIA, seeking approval for transfer of sponsorship.
** Copy of the investor’s residence permit and passport.
** A letter from the firm that requires transfer of sponsorship of the investor, indicating the profession to be held by the investor.
** Copy of the Commercial Registration (CR) of the firm seeking transfer of sponsorship of the investor.
** Copy of cancellation decision (punitive / withdrawal of license / non-renewal / voluntary).
Rules & Restriction
** Are not providing service to cancel the punitive or non-renewal only after the submission of the documents mentioned in the Government service number (09,02) of this guide to demonstrate the solution and filtering facility except document number (6,2,1).
** If the transfer is for the Saudi wife/ mother , the applicant is exempted from Document No. (4,3) but must submit (an approval letter from the wife, copy of the wife’s ID, and marriage contract and if he was the son then he should submit a proof of relation ).
** Access of the investor(s) to the service is subject to the laws and regulations of the government agencies or institutions providing the service.
Service Mechanism
** Application is submitted to the Business Center at SAGIA.
** The transaction is referred to SAGIA Business Center for completion and depositing it in the firm’s file.
** Application is referred to the Head of Investment Services Sector after completing the documents required for recommendation.
** Application is referred to the Governor for approval, and signing of the application letters.
About SAGIA
SAGIA has created a network of dynamic Business Centers throughout the country in Riyadh, Jeddah, Dammam, Hail, Al Madina, Jizan, Tabuk, and Abha.
Each center provides resources to help companies set up quickly and efficiently by providing representatives of all related government departments such as the Ministry of Labor, General Directorate of Passports, Ministry of Commerce and Industry, Zakat and income taxation department and notary public.