Who is using your business bank account?
An accountant or authorised signatory may handle the payments. The owner still needs to know where the money comes from, where it goes and how it relates to the business.
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An accountant or authorised signatory may handle the payments. The owner still needs to know where the money comes from, where it goes and how it relates to the business.
For establishments with 50 or more workers, this is an annual return about training. HR and finance need to account for what took place, what it cost and the plans for the following year.
If you add an activity to your Saudi Commercial Register (CR) and it requires a licence, the normal deadline to obtain it is 90 days from the date that activity was registered. For a shop that needs a municipal licence, that means getting its Baladiya licence through Balady. Other activities may need a licence from a sector authority.
Saudi Arabia has approved a new Commercial Transactions Law covering sales, supply agreements, agents, payment documents and business records. If you run a company here or are preparing to open one, these are the parts of your business to review as the law comes into effect.
A Saudi employee’s salary affects how much they count towards Nitaqat. The general wage threshold for full counting is set to rise from SAR 4,000 to SAR 5,000, then SAR 6,000. Employers should check what that means for their team and payroll budget.
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