AstroLabs eases business set-up in Saudi Arabia with new portal

A new online portal seeks to help entities looking to set up a 100 per cent foreign-owned operations in Saudi Arabia.

Launched by business incubator AstroLabs, Setupinsaudi.com lists a 16-step setup process, information on requirements and offers an operations team in Riyadh to manage the entire set-up process for businesses.

AstroLabs was the first international business incubator licensed in the kingdom. To date, it says it has assisted over 60 companies to enter the Saudi market, with a combined value of over $5bn. These include global fintech company Checkout.com, UAE-headquartered online property portal Bayut, and AKQA, a San Francisco-based design and communications agency.

Having a physical address is one of the requirements for setting up or expanding a business into Saudi Arabia; AstroLabs offers a complete soft-landing package, with a physical address and dedicated working space in its Riyadh coworking facility. The company also provides extended support from its ecosystem, such as connecting to recruitment partners and service providers and assistance in navigating logistics and settlement matters.

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“Driven by the [Saudi] government’s Vision 2030, the Kingdom offers a competitive and open business environment and presents a great market opportunity for expanding businesses and startups to access now,” said Muhammed Mekki, founding partner of AstroLabs.

“Setupinsaudi.com helps simplify the complex business establishment process by making the setup and licensing information accessible in one, easy-to-navigate online space along with support from specialised market experts. Through the launch of setupinsaudi.com, AstroLabs will continue to empower businesses to establish themselves in Saudi and further boost the country’s digital economy,” he added.