Recovery Initiative - Launched General Authority for Small and Medium Enterprises Monsha'at launched the second edition of the government fee refund initiative, "Istisad," totaling SAR 1.5 billion. The initiative aims to support emerging businesses during their first three years, enhance the business environment, and stimulate their sustainability and competitiveness, in line with the goals of Saudi Vision 2030.
Recovery Initiative Objectives
The initiative embodies the commitment of the wise leadership - may God support it - to creating a stimulating and sustainable business environment and enhancing the contribution of small and medium enterprises to building a diversified and prosperous national economy.
Registration and disbursement period
Registration for small and medium-sized enterprises (SMEs) begins on the initiative's launch date and will continue until the end of 2026. Disbursements will be made to eligible enterprises on a rolling basis, starting from the date of their qualification and continuing until the end of 2028, to ensure their financial stability and foster growth.
Fees covered by the refund
The initiative includes refunding the financial equivalent of ten government fees and costs, which are:
80% of the financial equivalent for expatriates.
Publish the articles of association.
commercial register.
Municipal license.
Saudi Post subscriptions.
Chamber of Commerce Subscriptions.
Trademark registration.
Economic activity licenses.
Patent Registration (added in this version to promote innovation).
For full details and conditions, please visit the link: Estrdad.monshaat.gov.sa
Eligibility requirements and criteria
To benefit from the initiative, several conditions must be met, most notably:
- The facility must be classified as micro, small or medium.
- The business activity must not have been in operation for more than three years.
- The start date of the activity shall not be before January 1, 2024.
- Registering the first worker in the facility is a criterion for starting the activity.
- Achieving the nationalization rate approved by the Ministry of Human Resources and Social Development.
- The shares or stocks owned by national institutions or Saudi individuals must not be less than 60% of the company’s ownership.
- The facility must be fully owned by Saudi individuals, with the exception of certain activities specified in accordance with the terms and conditions of the initiative.
- Registration and refund applications from establishments that do not engage in an economic activity requiring a license will not be accepted.
digital transformation
The initiative provides a unified digital experience for verifying eligibility and reimbursing government fees efficiently and reliably, reflecting the evolution of government services and keeping pace with the Kingdom's digital transformation.
The effect of the first version
She pointed outFacilitiesThe first edition of the initiative benefited more than 27 small and medium-sized enterprises, and these enterprises contributed to providing more than 89 jobs, with a continuity rate of 75%, reflecting the initiative's direct impact in supporting economic growth and generating job opportunities.
Support wise leadership
Monsha'at affirmed that the "Recovery" initiative is an extension of the wise leadership's support and continued interest in empowering emerging businesses and enhancing their role in the national economy. It also reflects the effective partnership between the public and private sectors to achieve sustainable economic development.
