The Ministry of Investment revealed that the minimum capital required for foreign companies to practice wholesale and retail trade activities with a 100 percent ownership is SR30 million. The foreign company must have its presence at least in three regional or global markets. These are among the terms and conditions contained in the Service Guide 2023 issued by the Ministry of Investment. The guide cites the terms and conditions and the required documents for applying for issuance of licenses for foreign companies to practice activities of wholesale and retail trade or e-commerce with a 100 percent ownership. The ministry stressed that it is necessary to submit a copy of the commercial registration of the firm for its presence in at least three regional or global markets, and this shall be certified by the Saudi embassy in the designated country, in addition to the company’s balance sheet for the last fiscal year, duly attested by the Saudi embassy. According to the guide, the terms and conditions also include that if one of the partners is previously licensed by the ministry, this must be clarified when filling out the partners’ data while submitting the electronic application. In addition, the ministry stipulated that the company must comply to achieve the following standards during the first five years: The company shall adhere to the employment rates of Saudis as determined by the Ministry of Human Resources and Social Development, and to develop and implement a program to appoint them in leadership positions in the first five years and ensure its continuity. The company must also commit to provide training to 30 percent of Saudi employees annually. The terms and conditions also included the company’s compliance with one of the following two options: Firstly, the company is adhering to investing an amount of no less than SR300 million, including SR30 million of the company’s capital in cash, over a period of five years starting from the date of obtaining the investment license. Secondly, the company is committed to investing an amount of no less than SR200 million, including SR30 million in the company’s cash capital, over a period of five years starting from the date of obtaining the investment license. This is in addition to achieving one or more of the following requirements within the first five years: Manufacturing standard: A minimum 30 percent or more of the company’s products distributed locally are manufactured in Saudi Arabia. Research and Development Programs criterion: Minimum five percent or more of total sales is to be allotted to establish research and development programs in Saudi Arabia. Logistics and distribution services standard: Minimum establishing a center to provide these services and provide after-sales services. Regarding the financial fee for the service, the ministry explained that the financial fee for issuing the license amounts to SR2000 for each year, up to a maximum of five years, while the financial fee is SR10000 for the first year’s subscription to obtain services from the Investor Relations Centers at the Ministry of Investment. Then the fee that will be applicable for subscription of services in the following years will be SR60000 for each year. The ministry noted that the period for paying the financial fee for the service is 60 days from the date of issuing the invoice. In the event of non-payment within the period, the service is considered canceled and application must be submitted once again for obtaining a new license