Overseas Expansion Program
This program is designed for ambitious Bahraini enterprises and startups with a track record of growth and are seeking to expand their businesses to the Kingdom of Saudi Arabia (KSA). This program has been created in partnership with AstroLabs, the Gulf’s leading business expansion and soft-landing platform and provider into KSA. AstroLabs have been partnered with Ministry of Investment (MISA) since 2018 to set up high-growth global companies into KSA and are well-placed to support Bahraini startups and enterprises ready to tap into the KSA market. Successful applicants will be provided with a comprehensive range of advisory services, and on-the-ground assistance through connecting them with an expert that provides expansion, growth, and business development support services to guide them on their expansion journey into KSA. This support also includes a comprehensive introduction into the regulations and laws of the target market, as well as marketing strategies that help highlight products and services in new markets to ensure success. Participants will also have the opportunity to connect with potential partners, customers and suppliers, enabling them to establish networks to support their expansion. Participating Enterprises will either have the objective of fully setting up in KSA or looking to expand their services/products into KSA’s market and access business development opportunities.
Service Conditions
- Bahrain-based enterprises with an active CR/license
- Enterprise committed to retaining the head office in Bahrain post-expansion
- Enterprise must retain a minimum of 30% Bahraini ownership in the new KSA entity
- Enterprise must be in one or more of the key sectors: Creative Industries, Education, Financial Services, Food & Beverage, Healthcare, Information Communication Technology (ICT), Oil & Gas, Manufacturing & Logistics, Tourism
- Enterprise must be fully ready to scale to KSA as soon as you are accepted into the program, with secured funding to sustain your operations in the KSA market, and the needed documentation ready. For more information on the business setup process, please refer to: https://www.setupinsaudi.com/en/setup-for-foreigners
- Enterprise is prepared with a realistic and validated path to revenue generation in the KSA market, and must be able to demonstrate your readiness to expand in to KSA’s market through documentation for e.g. market research or feasibility studies
- Enterprise must not have violations from Tamkeen or LMRA
- Enterprise must not have the activity of a Holding Company as the only activity
- Enterprise must be prepared to share audited financial data for a minimum of one (1) year, no older than two (2) years and adhere to the data sharing and monitoring requirements of the program
Required Attachments
- Active registered company in Bahrain (Commercial registration number)
- High-level understanding of your potential growth in KSA, evidenced through market research, feasibility study etc.
- Pitch deck/company bio
Service Provider
Labour Fund (Tamkeen)
