Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the SAMA decision, including banking and payment rails.
Get a payment license in Saudi Arabia.
The Gulf's largest domestic market licenses in four sizes: micro and major payment institutions from SAR 1 million, micro and major e-money issuers from SAR 2 million - with SAMA committed to answering a complete file within 90 days. The market is the argument; the regulation is the door.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Saudi Arabia in brief
Four licence sizes for a thirty-five-million market.
SAMA's Payment Services Provider Regulations cut the market into four boxes, and the numbers are printed in the text: a micro payment institution shows SAR 1 million in paid-up equity, a major PI three million; a micro e-money institution two million, a major EMI ten. The ongoing test is where the regime gets serious - a major PI holds the higher of its initial capital or 1% of average monthly payment value, a major EMI the higher of its initial capital or 2% of outstanding e-money - and every licensee parks a security deposit of at least 5% of its ongoing capital requirement under SAMA's lien. Customer money sits in safeguarded accounts held for the customer's benefit, separated from the company's own. SAMA commits to notifying its decision within 90 calendar days of confirming the application complete; the licence runs for three years and renews at the original fee.
The reason to bother is on the other side of the door: the Gulf's largest consumer market, a state programme pushing cash out of it, and mada card rails plus sarie instant payments already carrying the volume. Tax follows ownership - 20% corporate income tax on the non-Saudi share of profits, zakat on the Saudi and GCC share, 15% VAT on the standard basket. Saudi is not the cheap licence and not the fast market entry; it is the big one, and the four-tier structure means a corridor or wallet model can start micro and grow into major without changing regulator. We build the SAMA file end to end from our Gulf desk.
SAMA licenses four sizes: micro/major PI at SAR 1M/3M, micro/major EMI at SAR 2M/10M - ongoing capital at 1% of payment value or 2% of float, a 5% security deposit under SAMA's lien, and a printed 90-day decision clock.
The prize is the Gulf's largest market, going cashless by state programme, on mada and sarie rails. Licence runs three years, renewable.
The two routes
Payment institution - or e-money issuer.
One regulation, four sizes: PIs move money, EMIs also hold it as e-money - each in micro and major tiers priced to scale. We fix the box first, then build once.
PIs move money; EMIs also hold it - each micro or major.
01 - PAYMENT INSTITUTION
Micro & major PI
For transfers, acquiring and aggregation without issuing e-money: SAR 1 million paid-up equity for the micro tier, SAR 3 million for major - with the major tier's ongoing capital tracking 1% of monthly payment value.
For transfers, acquiring and aggregation without issuing e-money: SAR 1 million paid-up equity for the micro tier, SAR 3 million for major - with the major tier's ongoing capital tracking 1% of monthly payment value.
- ✓Payment services without e-money float
- ✓Micro PI - SAR 1,000,000 paid up
- ✓Major PI - SAR 3,000,000 paid up
- ✓Ongoing: max(initial, 1% of monthly value)
- ✓Security deposit - 5% under SAMA lien
- ✓Three-year licence · renewable
02 - E-MONEY INSTITUTION
Wallets & float - SAMAMicro & major EMI
For wallets and stored balances: SAR 2 million micro, SAR 10 million major, ongoing capital at 2% of outstanding e-money for the major tier - with safeguarded customer funds held apart from the company's own.
EMI: SAR 2M/10M, 2%-of-float test, safeguarded customer accounts, caps define micro.
- ✓E-money issuance - wallets, prepaid
- ✓Micro EMI - SAR 2,000,000 paid up
- ✓Major EMI - SAR 10,000,000 paid up
- ✓Ongoing: max(initial, 2% of outstanding)
- ✓Safeguarded accounts for customer funds
- ✓Balance caps define the micro tier
Costs and timelines are confirmed for your case before any work begins. The tier follows your projected volumes and balances - we model it against the regulations, not against ambition.
Why Saudi Arabia
The market is the argument.
Nowhere else in the region do thirty-five million consumers, a cashless state programme and a printed 90-day clock sit in one jurisdiction.
✓
The Gulf's largest market
More consumers than the rest of the GCC combined - a licence here addresses the region's core demand, not its overflow.The Gulf's core demand.
✓
A 90-day decision clock
SAMA's regulations commit to a decision within 90 calendar days of a complete file - a printed deadline most regulators refuse to put on paper.Printed in the regulations.
✓
Micro tiers that scale up
Start at SAR 1-2 million within defined volume caps, then step up to major without changing regulator or rebuilding the licence.Scale without re-licensing.
✓
Rails already running
mada cards and sarie instant payments carry national volume today - licensed PSPs plug into infrastructure, not into plans.mada + sarie carry volume today.
✓
State push out of cash
The national programme targets a majority-cashless economy - regulation, banks and merchants are all pulling in the licensee's direction.State programme at your back.
✓
A three-year licence cycle
The licence renews every three years at the original fee - a predictable rhythm for compliance budgeting and investor diligence.Predictable renewals.
How it compares
How Saudi Arabia differs from other routes.
Saudi trades entry cost for market size. The honest comparison is below.
Saudi Arabia vs other jurisdictions
| Feature |  Saudi Arabia | Other jurisdictions |
|---|---|---|
| Market | 35M+ - the Gulf's core | Smaller home markets |
| Tiers | Micro/major PI & EMI | Often one-size licences |
| Decision clock | 90 days - printed | Open-ended reviews |
| Ongoing capital | 1% value · 2% float rules | Flat minimums |
Market
Saudi Arabia35M+ - the Gulf's core
Other jurisdictionsSmaller home markets
Tiers
Saudi ArabiaMicro/major PI & EMI
Other jurisdictionsOften one-size licences
Decision clock
Saudi Arabia90 days - printed
Other jurisdictionsOpen-ended reviews
Ongoing capital
Saudi Arabia1% value · 2% float rules
Other jurisdictionsFlat minimums
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Saudi Arabia | PI / EMI (SAMA) | 20% foreign share | SAR 1-10M by tier |
 UAE | RPS Cat I-IV (CBUAE) | 9% · 0% band | AED 0.1-3M by volume |
 Bahrain | PSP (CBB) | 0% · 15% DMTT large | BD 25k-250k by tier |
 Qatar | PSP (QCB) | 10% foreign share | PSR 2021 · QCB scope |
Saudi ArabiaLicense typePI / EMI (SAMA)
Taxation20% foreign share
RequirementsSAR 1-10M by tier
UAELicense typeRPS Cat I-IV (CBUAE)
Taxation9% · 0% band
RequirementsAED 0.1-3M by volume
BahrainLicense typePSP (CBB)
Taxation0% · 15% DMTT large
RequirementsBD 25k-250k by tier
QatarLicense typePSP (QCB)
Taxation10% foreign share
RequirementsPSR 2021 · QCB scope
Before you apply
Requirements for the SAMA licence.Requirements for the licence.
The regulations print the numbers and the tests - the craft is a file that passes them all at once. The checklist below is what a passing application contains.
01
A Saudi establishment - the local company SAMA licenses, with the payment business as its activity.
02
Paid-up equity for your tier - SAR 1M or 3M for payment institutions, SAR 2M or 10M for e-money institutions, evidenced.
03
Ongoing capital modelled forward - 1% of average monthly payment value (major PI) or 2% of outstanding e-money (major EMI), whichever exceeds the initial figure.
04
Security deposit - at least 5% of the ongoing capital requirement, deposited or held in liquid instruments under SAMA's lien.
05
Safeguarding - customer funds in dedicated accounts held for the customers' benefit, separated from the company's own money.
06
Fit and proper management and holders - competence, clean records, ownership transparent to UBOs.
07
A programme of operations - services, volumes and three-year financials SAMA can interrogate.
08
AML/CFT framework - KYC, monitoring and reporting with a resident compliance function.
09
Technology and security documentation - systems, resilience and incident procedures to SAMA standards.
10
Governance - board arrangements, control functions and outsourcing register to regulatory standard.
01
Saudi establishment, locally run.
02
Paid-up equity: SAR 1M-10M by tier.
03
Ongoing tests: 1% value · 2% float.
04
Deposit 5% under SAMA lien.
05
Safeguarded customer accounts.
06
Fit & proper to UBOs.
07
Interrogable programme of operations.
08
AML with resident compliance.
09
SAMA-grade IT documentation.
10
Governance and outsourcing register.
Reflects SAMA's Payment Services Provider Regulations as published, as of 2026.SAMA PSP Regulations, as of 2026.
How it works
From first call to the SAMA register.
01
Route and tier
PI or EMI, micro or major - we fix the box, capital and deposit in writing.PI or EMI, micro or major - in writing.
02
Saudi company and people
Establishment, capital evidence and the resident officers SAMA vets.Establishment, capital, resident officers.
03
The application file
Programme, safeguarding, AML and technology documentation per the regulations - complete before filing, because the 90-day clock starts at complete.Complete starts the 90-day clock.
04
SAMA review
Question rounds answered inside the regulation's 90-calendar-day decision window - with the groundwork carrying the timeline.Decision within 90 days of complete.
05
Licence and launch
Register entry, safeguarding accounts live, deposit lodged - and the three-year licence cycle running.Registered, safeguarded, deposit lodged.
Quick facts
RegulatorSAMA
Micro PI / Major PISAR 1M / 3M
Micro EMI / Major EMISAR 2M / 10M
Ongoing tests1% value · 2% float
Security deposit5% under SAMA lien
Decision clock90 days from complete
Licence term3 years · renewable
VAT15%
The 90-day clock runs from a complete application - arriving complete is the entire game, and our job.
Your Saudi desk
Run from our Gulf office in Dubai.
Prifinance - Gulf desk
Dubai · coordinating Saudi mandates
33 Level, Al Saqr Business Tower, Dubai
01
Saudi company formation
Local establishment, capital placement and the corporate layer SAMA expects - structured for the licence from day one.Structured for the licence.
02
The SAMA file
Tier selection, programme of operations, safeguarding design and the security-deposit mechanics - drafted by us and defended through the question rounds.Tier, deposit, safeguarding - defended.
03
The capital model
The 1%-of-value and 2%-of-float ongoing tests modelled against your growth curve, so the tier holds at scale instead of breaking at it.1% and 2% tests, modelled forward.
04
Substance and staffing
Resident compliance and operations hires from Riyadh's growing fintech talent pool - a real presence SAMA recognises.Riyadh hires, real presence.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of payment companies in Saudi Arabia.
Tax follows the shareholder register: corporate income tax on the foreign share, zakat on the Saudi and GCC share - and 15% VAT on the standard basket.
Corporate tax 20%
Levied on the share of profits attributable to non-Saudi shareholders - a wholly foreign-owned licensee pays it on the full result.On the foreign share.
Zakat on the local share
Saudi and GCC shareholders pay zakat at 2.5% on the zakat base instead of income tax - mixed structures carry both, proportionally.On the Saudi/GCC share.
VAT 15%
The standard rate since 2020; financial services follow exemption rules by product - we map the fee mix before launch.Product-mapped exemptions.
Withholding on the way out
Dividends to foreign shareholders carry 5% withholding, with treaty relief where available - modelled into the group structure early.Dividends; treaty relief.
No tax on salaries
Zero personal income tax on employment - the hiring economics match the rest of the Gulf.Gulf hiring economics.
Incentive regimes exist
Regional-headquarters and special-zone programmes offer reduced rates for qualifying structures - worth testing before the default is accepted.RHQ and zone regimes.
Tax summary
Corporate tax20% · foreign share
Zakat2.5% · Saudi/GCC share
VAT15%
Dividend withholding5% · treaty relief
Personal income taxNone
Licence renewalEvery 3 years
*Figures as of 2026 per ZATCA. Mixed-ownership structures are modelled per shareholder register.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Saudi company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed institution.
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Saudi Arabia · SAMA
Launch your payment project in Saudi Arabia with expert support.
Full-service assistance - from establishment to the SAMA licence, safeguarding architecture and ongoing compliance.
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Request a free conclusion →FAQ
The Saudi payment licence, answered.
What licence does a payment business need in Saudi Arabia?+
A SAMA licence under the Payment Services Provider Regulations - as a payment institution for moving money, or an e-money institution for also holding it, each in micro and major tiers.
How much capital is required?+
Printed in the regulations: SAR 1 million for a micro PI, 3 million for a major PI, 2 million for a micro EMI, 10 million for a major EMI - in paid-up equity, evidenced at application.
What are the ongoing capital tests?+
A major PI holds the higher of its initial capital or 1% of average monthly payment value; a major EMI the higher of its initial capital or 2% of outstanding e-money. We model both against your growth curve before the tier is chosen.
What is the security deposit?+
At least 5% of the ongoing capital requirement, deposited with SAMA's lien over it - or held in equivalent liquid instruments. It sits alongside the capital, not inside it.
How fast does SAMA decide?+
The regulations commit SAMA to notifying its decision within 90 calendar days of confirming the application complete. Completeness is therefore the entire timeline - and our job.
How long does the licence last?+
Three years from issue, renewable at the original fee - a fixed cycle that makes compliance budgeting and investor diligence predictable.
What safeguarding applies?+
Customer funds sit in dedicated safeguarded accounts, held for the customers' benefit and separated from the company's own money - the discipline that keeps Saudi wallets bankable.
How are payment companies taxed?+
20% corporate income tax on the non-Saudi share of profits, zakat at 2.5% on the Saudi/GCC share, 15% VAT and 5% dividend withholding with treaty relief - modelled per shareholder register.
What substance is expected?+
A Saudi establishment with resident management and compliance, real safeguarding arrangements and SAMA-grade systems documentation. Riyadh's talent pool has deepened fast; the hiring is practical.
Why Saudi rather than the UAE or Bahrain?+
Because the demand is here: the Gulf's largest consumer market with a state programme pushing it cashless. The UAE gives corridors and talent, Bahrain gives cheap entry - Saudi gives the market itself. Regional models usually end up holding all three, and we sequence them.
Which licence?+
SAMA PI or EMI - micro or major tier.
Capital?+
SAR 1M/3M PI; SAR 2M/10M EMI.
Ongoing tests?+
1% of value (PI) · 2% of float (EMI).
Deposit?+
5% of ongoing capital, SAMA lien.
How fast?+
90 days from a complete file.
Licence term?+
3 years, renewable at the same fee.
Safeguarding?+
Dedicated customer-benefit accounts.
Taxes?+
20% foreign share · zakat · VAT 15%.
Substance?+
Local establishment, resident compliance.
Why Saudi?+
The Gulf's largest market, going cashless.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
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Google
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Google
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Saudi Central Bank (SAMA) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.