Saudi Arabia Activity Code for Money transfer service

Industry Sector: Professional, Legal & Business Services | Official Classification: SSIC 649913 — activities of viatical settlement companies
Authoritative Standard: Saudi SSIC 2026

Executive Summary & Official Classification

To legally establish or license a Money transfer service (خدمات Money transfer) in the Kingdom of Saudi Arabia, the official primary economic activity code registered with the Ministry of Commerce (MC) and municipal authorities is SSIC 649913 — activities of viatical settlement companies.

This classification governs municipal commercial zoning on the Balady portal, MISA foreign investment licensing (subject to sector criteria), Qiwa electronic employment contracts, and Nitaqat Saudization benchmarks under the Ministry of Human Resources and Social Development (MHRSD).

Primary Classification Entity

★ Official Primary Classification Code

Saudi SSIC Code: SSIC 649913 — activities of viatical settlement companies

Arabic Designation: التسويات المالية والتعويضات

Parent Economic Group: 6499 — Other financial service activities, except insurance and pension funding activities, n.e.c.

Section Category: Section K — Financial and insurance activities

Governing Authority: Saudi Central Bank

Municipal / Sectoral License: Saudi Central Bank

View Complete SSIC 649913 Specifications & Compliance →

Key Facts & Regulatory Matrix for Money transfer service

Regulatory Parameter	Specification in Saudi Arabia
Business Entity / Activity	Money transfer service (خدمات Money transfer)
Primary Saudi SSIC Code	`649913` — activities of viatical settlement companies
Parent Classification Group	`6499` — Other financial service activities, except insurance and pension funding activities, n.e.c.
Economic Section Category	`Section K` — Financial and insurance activities
Industry Sector	Professional, Legal & Business Services
Supervisory Government Body	Saudi Central Bank
Operational Licensing Portal	Saudi Central Bank
MISA Foreign Investment	Eligible under general regulatory framework (Subject to MISA criteria & sector rules)
Commercial Registration (CR)	Instant Digital Issuance via Ministry of Commerce
Labor & Saudization Compliance	Qiwa Portal & Nitaqat Framework (Benchmark depends on company headcount)

Practical Business Setup Workflow in Saudi Arabia

Commercial Registration (CR) Issuance: Log in to the Ministry of Commerce portal and select primary activity code 649913.
Municipal Licensing (Balady Portal): Apply for the commercial premise license adhering to municipal shop, safety, and parking requirements under code 649913.
MISA Foreign Investment License: International investors can apply for a MISA foreign investment license subject to standard regulatory guidelines under Saudi foreign investment regulations. Review our MISA License Guide.
ZATCA Tax & Zakat Enrollment: Automatic registration for Corporate Income Tax (20% for foreign shares) or Zakat (2.5% for Saudi/GCC shares), along with 15% VAT and Fatoora e-invoicing. See ZATCA Tax Guide.
Qiwa Portal & Saudization: Register Saudi and expat employees in Qiwa under approved SSCO Occupational Codes to maintain a compliant Nitaqat tier. Check our Nitaqat Saudization Guide.

Regulatory & Classification Status for Money transfer service

Verification Parameter	Official Status	Verification Source
Commercial Code Mapping	✅ Standard Match	Mapped to primary activity `SSIC 649913`
GASTAT National Framework	✅ Active Standard	Official Saudi SSIC 2025/2026 Edition
Instant CR Issuance (Ministry of Commerce)	✅ Eligible	Commercial Registration Law (Direct Digital Issuance)
MISA Foreign Investment Eligibility	✅ General Framework	Foreign investment permitted subject to MISA licensing criteria
Licensing Platform	✅ Documented	Saudi Central Bank

Frequently Asked Questions (FAQ)

1. What is the official Saudi SSIC activity code for a Money transfer service?

The official primary classification code is SSIC 649913 (activities of viatical settlement companies).

2. Can foreign investors open a Money transfer service in Saudi Arabia?

Yes. Under the Ministry of Investment (MISA) regulatory framework, foreign companies and entrepreneurs can establish commercial entities subject to standard licensing rules.

3. Which government authority licenses Money transfer service operations?

Supervision is overseen by Saudi Central Bank, and municipal premises licenses are issued via the Balady portal.

4. How do I add this activity to an existing Commercial Registration (CR)?

You can amend your Commercial Registration online through the Ministry of Commerce portal by adding code 649913.

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Official Source Attribution & Disclaimer

Official Classification Standard: General Authority for Statistics (GASTAT) — SSIC 2026.

Primary Entity Reference: SSIC 649913 — activities of viatical settlement companies

This page is an independent regulatory lookup tool. Always verify specific commercial activity requirements on official government portals (Ministry of Commerce, MISA, Balady, and ZATCA) before finalizing legal filings.