Saudi Arabia
Banking in Saudi Arabia
Saudi Arabia Business Experts
Recent forum posts
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Starting a new business in India
I run a UK business and my fellow Director is an Indian National (I am a British citizen).We now want to launch our company in India and I am struggling to make any progress with the Indian High Commission. Can anyone help me with the process. I have twice visited the commission in London and wasted hours of time due to their complete lack of organisation.I will appreciate any help to make
Total Posts: 12 Last post by leahhart65
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Hiring Struggles for Small Businesses in NZ, Are We Overlooking Soft Skills?
Hi everyone,I’ve noticed that many small businesses in NZ are facing real challenges when it comes to hiring the right people not just in terms of technical ability, but soft skills too. Communication, adaptability, and problem-solving often seem harder to find than certifications or experience.A few small business owners I’ve talked to said they struggle to read between the lines of a sta
Total Posts: 1 Last post by ngaiomarsh98
Banking in Saudi Arabia
The setting up of a bank account is a little more tedious than it is in, say, European countries. There are many formalities, including much paperwork. If applicable, it is recommended that you open a local bank account, as charges for the transfer of money from overseas can be very high. Unlike before, there are now a number of national and foreign banks offering both individual and corporate banking services. Both current and savings accounts are available.
You cannot open an account without a residency permit. You may be asked for your tenancy agreement to prove your address. Most banks will also ask for a photocopy of your passport. It is recommended that you take copies of all these documents, as well as identity photographs.
There are cash machines in many areas of the country.
Organisations that can assist with Banking
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> Need to open a bank account in this country?
Business Banking advice Advice on which type of bank account would best suit your business. Help making payments – and getting paid.
