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TTITorque Trading International
Doing business in Saudi Arabia
Checklist
What do we have to offer for our partners?Local presence with all the advantages as a local company (IKTVA) with no restrictions or limitations in the execution of projects and/or services.
Can the company control its own business?Yes, the company will have control over its own business operation. If required, the company’s own IT applications, Finance Administration, Inventory Management, etc. can be used.We shall service all local requirements in order that the company can present itself as a truly local company.
Is everything accepted by local rules and regulations?Yes, the structure and set-up is designed in such a way that is robust and 100% in compliance with Saudi rules and regulations.
What does the company need to do for that?Team up with an experienced team that has a combined experience of more than 20 years in Saudi Arabia in the Saudi Arabian O&G, Petrochemical, Mining and Power Industries. An agreement will be made between our company based in Saudi Arabia and the company that wants to enter the Saudi market. The cooperation will be tailored to meet each company’s requirements in such a way it enables the company to execute its own strategy.
Is an agency agreement not just better for us?Not all companies wish or are in need of doing direct business in Saudi Arabia. In those situations, we also welcome companies that have innovative products and services in related industries, especially those that already hold End User approvals (Saudi Aramco, SABIC, Ma’aden, Shell and Saudi Electricity Company).
Sales Office: Al Saeed Business Tower 1A,
Office 304, 34227 • Al KhobarKingdom of Saudi Arabia
Tel +966 13 341 2001 Fax +966 13 341 6675
E-mail: [email protected]. 2055024977
Headquarters:1st Support Services Area Jubail Industrial CityKingdom of Saudi Arabia
Tel +966 13 341 2001 Fax +966 13 341 6675
E-mail: [email protected]
TTITorque Trading International
DOING BUSINESS IN SAUDI ARABIAIt has always been possible to do business with the majors in Saudi Arabia like Saudi Aramco, SABIC and other large players in the industry. Once the company was qualified and listed on the approved vendors list, it was possible to participate in projects or deliver and supply materials.
But these large companies are now evaluating their existing supply base on their IKTVA contribution. Companies, on the list for years, but without a strategy to comply with the IKTVA guidelines, are at risk of losing their preferred position to companies that take the IKTVA guidelines seriously.
SPV arrangement in Saudi Arabia
UNDERSTANDING THE LOCAL BUSINESSSaudi Arabia is moving rapidly into the 21st century. New leadership is getting ready for power and trying to transform the country towards less dependence on oil and gas. The need for this became clear when oil prices dropped and because of a large population of young Saudis looking for jobs.
The Government’s desire to diversify the economy puts considerable pressure on the private sector
industries. Companies need to comply with recruiting a minimum number of Saudi nationals, and some job positions can only be held by Saudis. This means that much management attention must be focused on complying with ever-changing regulations. At the same time, the Saudi Government administration is time-consuming and the result is that doing business in the country is ranked at 91 by the World Bank (2017: Ease of Doing Business).
VISION 2030Local presence in Saudi Arabia is increasingly topping the
agenda of companies who do, or who want to do business in
Saudi Arabia. This drive to localize the business is described
in a Government document called Vision 2030. This vision has
resulted in a set of rules to comply with, the so-called IKTVA
requirement (In Kingdom Total Value Add Program). Complying
with these rules and regulations is becoming increasingly
conditional to executing possible future contracts
in Saudi Arabia.
Abdulrahman Al-Dalaan - Chairman
UNDER THE PROPOSAL IT IS POSSIBLE TO:1. Work under your own company name2. Have your own commercial registration in Saudi Arabia 3. Register the company under its own chosen name4. Have your own bank account and have control over the banking facilities5. Have your own dedicated and trained sales staff6. Book the orders directly in Saudi Arabia to your own Saudi company bank
account7. Tap into our extensive business network in Saudi Arabia for kick-starting
the business
WHAT WE WILL PROVIDE EACH COMPANY WITH:1. Shared services tailored for each company with professional offices and
warehouse facilities in Al-Khobar as well as in Jubail2. Compliance with all Saudi Government Rules & Regulations3. Structured Finance options which will enable better commercial conditions
for the mother company4. Facilities for logistics to import products and materials into Saudi Arabia5. Legal framework under which each individual company can operate6. Yearly auditing as per international accounting practices.
With our combined experience of decades of international business in Saudi Arabia, we understand a Company’s needs and requirements. At the same time, since we are rooted in the Saudi business infrastructure, we understand the local requirements for doing business.
We can offer each company its own legal set-up under our locally registered entity. This will allow and enable each individual company to do business in Saudi Arabia as an independent company.
We will provide a professional infrastructure for each company to tap into. So the company won’t have to consider all the practicalities necessary for doing business in Saudi Arabia. From the start, the company can focus on its business; Sell their products or services under their own name and via their own locally registered company name with the people of their choice.
Our offer
Local business set-up
1. Execution and use of agency
contracts on behalf of TESCO
Engineering for relevant
business purposes e.g.
company registration, PO
Placement, logistical services,
custom clearance, etc..
Executing business by SPV registered name as branch
office of TTI with:
1. Separate CR,
2. Own Bank Account,
3. Company Identity as per SPV registered CR
4. End user registration under SPV name
5. SPV specific assets (manpower, vehicles, warehousing,
office, machining, etc.)
1. Holder of all Agency Contracts
2. Management and operation of
agency contracts.
CONTACT AND FURTHER DISCUSSIONSOur offer has great advantages for those companies that want to be in control of their own business in Saudi Arabia. Our offer will provide the Company that control, but there are some notions to take into consideration.
Given the importance for each company, we certainly understand that making such kind of decisions, is not something that will be done overnight. At the same time, given our years of experience in Saudi Arabia, we also know that what we have to offer can be of great potential.Therefore if you want to hear more about the options and possibilities for your company, please do not hesitate to contact us.
YOUR PARTNERS Abdulrahman Al-Dalaan ChairmanTorque Trading International – TTI graduated with a Bachelors Degree in Business Administration from King Abulaziz Univerisity in Saudi Arabia and has since attained further education at both Harvard in the USA and Oxford University in the UK. He joined SABIC as an Administration Manager for its SABIC GAS affiliate in 1983 where he served in various Leadership roles for 28 years, rising to the level of Executive Vice President for SABIC Global Procurement and General Manager of the METALS Strategic Business Unit. During his tenure as head of Global Procurement and Compliance he was responsible for the development and implementation of SABIC Global Procurement strategies and Best-in-Class Global Procurement processes by optimizing the total cost of procurement and material management, managing a multicultural staff complement of 1100 professionals and more than 50 Billion SR in annual spend. His extensive experience with Global Compliance and Governance matters, coupled with his deep experience in dealing with Foreign Companies has made him the ideal partner for global Companies wanting to
enter the Saudi Arabian business arena. Abdulrahman is well known and respected in the Saudi Arabian business community, and through his extensive business network he will play a key role in enabling the partnership companies to successfully enter the supply chain of the Saudi business majors in KSA. Abdulrahman is the owner and Chairman of Torque Trading International TTI and has been a member of the Global Supply Chain Council since 2013.
Jan-Willem Altelaar was General Manager of Best Practice and has been active in Saudi Arabia since 2006, owning since 2009 his own 100% foreign-owned branch office in Al Khobar, fully registered as a SAGIA company. Jan-Willem has extensive knowledge with regard to setting up businesses and providing business development in the Kingdom, primarily within the O&G Industries. From 2018 Best Practice activities have been taken over by TESCO Engineering, where Jan-Willem Altelaar is now the acting CEO responsible for the Commercial Activities, of a fully- controlled commercial LLC by TESCO Engineering.
Mark Goedvolk, an entrepreneur by nature, founded his first Company at 23 years old and has conducted international trading business in various hard & soft commodities through which he became involved in the Specialized Engineering industry in Saudi Arabia, serving the Petrochemical / Oil & Gas / Mining and other Specialized industries. He is the founder of TESCO Engineering and has been actively involved in the success of the company since 2011. The company’s core expertise and competency lies in its alliances with World Renowned Companies that provide cutting edge technology and state-of-the-art products & services to the Petrochemical, Oil & Gas, Mining and other Specialized industries. These alliances enable us to be a solution provider to our many OEM Partners and Clients in the industry by adding value to their businesses. Our vision is to provide INNOVATIVE, COST EFFECTIVE & RELIABLE SOLUTIONS to Local Industry with an emphasis on customer service and satisfaction.
TESCO Engineering(Jubail, Saudi Arabia)
TTI(Jubail, Saudi Arabia)
SPV 1(Special Purpose Vehicle)
SPV 2 SPV 3
