How Foreign Firms Open a Corporate Bank Account in KSA

Foreign-owned companies looking to open a corporate bank account in Saudi Arabia must first complete full local registration, as banks will not proceed without proof that the entity is legally established in the Kingdom. That means securing a valid investment license from وزارة الاستثمار, an active Commercial Registration (CR) from the Ministry of Commerce, and a Tax Identification Number (TIN) from ZATCA before approaching any bank.

On the Saudi side, banks typically require the valid وزارة الاستثمار foreign investment license, the active CR certificate, notarised Articles of Association in Arabic, the ZATCA tax certificate, a National Address registration certificate, a company seal, and proof of a physical office address such as a lease contract or Ejar registration.

Companies with a foreign parent — including branches and foreign-shareholder entities — must also provide the parent company's Articles of Association and Certificate of Incorporation, a board resolution approving the account opening and naming authorised signatories, and, where applicable, a Power of Attorney. Foreign documents must be attested at the Saudi Embassy abroad and counter-attested by the Ministry of Foreign Affairs inside the Kingdom. Some banks also request a group structure chart and recent audited financial statements.

The authorised signatory or General Manager needs a valid Iqama, a passport copy, an active أبشر account, and a Saudi mobile number registered in their name for OTP and identity checks. Major banks will require نفاذ biometric digital identity verification for corporate signatories in 2026.

Why it matters

The process runs through official government platforms: وزارة الاستثمار for licensing, ناجز and the Ministry of Commerce for the CR and notarisation, ZATCA for tax registration, and the National Address system for the mandatory address proof. Platforms such as مقيم, قوى and توكلنا are not used directly for account opening, though their data may be referenced indirectly. Completing every step in order — licensing, CR, notarisation, tax registration, and National Address — before visiting a bank saves foreign investors significant time and repeat visits.

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