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Riyadh Expo 2030: The Era of Global Change and Visionary Future Introduction Key Information on Riyadh Expo 2030 Economic Impact of Riyadh Expo 2030 Cultural Impact of Riyadh Expo 2030 World Expo 2030: The Beacon of Change Introduction World Expos stand as grand events where nations from across the globe unite to address pressing global issues. Originating with the inaugural World Fair in London in 1851 and extending to the recent Expo 2020 in Dubai, these expos have drawn in millions of attendees, sparked numerous groundbreaking innovations, and established enduring legacies that have significantly impacted both the physical and social fabric, aiming to fulfil human ambitions sustainably. At their core, World Expos facilitate significant growth opportunities across various sectors, including finance, construction, tourism, transport, consumer goods, and media, thanks to their extensive scale and ambitious goals. Additionally, these events often result in the creation of lasting physical landmarks, such as Expo City Dubai, enhancing their host cities’ landscapes. Key Information on Riyadh Expo 2030 The Expo 2030 will occur from October 2030 to March 2031 in a state-of-the-art city in North Riyadh, covering an expansive area of over 600 hectares. This includes 3.38 million square meters allocated for interactive experiences and an additional 2.62 million for essential amenities and support facilities. The event is set to host 246 participants, comprising country pavilions, international organizations, and other non-official entities. The logo for Expo 2030 Riyadh is symbolized by six palm fronds, each signifying different themes: heritage, science, technology, nature, architecture, and the arts, intricately designed in various colours and forms. Palm fronds, a familiar sight across various regions of Saudi Arabia, embody the essence of the Expo’s identity. Demonstrating its commitment to making the Expo a landmark event, the Saudi government has earmarked a substantial $7.8 billion budget for its execution, underscoring the event’s role as a pivotal platform for showcasing global advancements and cooperation. Highlighted sectors for significant attention include construction materials, banking, aviation, transportation, real estate, housing, communications, logistics, retail, hotels, hospitality, and tourism. Economic Impact of Riyadh Expo 2030 The Saudi economy is set for significant growth spurred by the opportunities presented by Expo 2030. Aligning with the government’s strategy to reduce its oil dependence, the Expo is anticipated to establish Saudi Arabia as a leading international centre for trade, travel, and commerce. The total projected economic impact of Riyadh Expo 2030 on Saudi Arabia, as measured by gross value added, is an impressive SAR355 billion ($94.5 billion). It marks a 19% boost to the country’s estimated non-oil GDP for 2023, with a sustained annual impact of 0.75% projected over the following 25 years, according to insights from Al Rajhi Capital Research. With expectations of 246 participants and 40 million site visits during its six-month duration, the Expo is poised to be a pivotal event. This event is expected to catalyze a surge in infrastructure spending, increasing the demand for construction materials and corporate loans. Consequently, the financial sector is anticipated to experience a significant uptick in loan growth due to increased corporate borrowing. The tourism industry, too, stands to gain as hotel room rates increase with higher occupancy rates. The Expo is also expected to facilitate the addition of new hotel keys to accommodate the influx of visitors. Additionally, the need for enhanced marketing efforts to promote the event is likely to boost the advertising sector. The transportation and mobility sectors are also set to benefit from increased cargo volumes and visitor numbers, further buoyed by the event. Tourism: Millions of visitors will rejuvenate the tourism sector, leading to job creation, infrastructure improvements, and a spotlight on Saudi Arabia’s rich cultural heritage and natural beauty. Hospitality: This sector is expected to see a spike in demand, benefiting hotels, restaurants, and transport services, encouraging job growth and increasing revenues. Construction: The Expo will drive extensive construction work, boosting demand for materials, equipment, and labour and contributing to economic expansion. Technology: As a showcase for the latest technological innovations, the Expo will promote innovation, attract foreign investment in tech, facilitate knowledge exchange, and support economic development. Cultural Impact of Riyadh Expo 2030 The Riyadh Expo 2030 is influential not just for its economic and tourism benefits but also for its cultural impact. It reflects the quick changes in Saudi society, encouraging a more open attitude towards diverse cultures and beliefs. This shift towards a more welcoming and adaptable Saudi identity moves away from previous perceptions of being closed off. The sense of pride and confidence among Saudis is noticeable, especially after Riyadh was chosen to host the Expo 2030. This moment highlighted the country’s desire to share its rich culture and advancements with the rest of the world, challenging old stereotypes of a secluded society. Hosting the Expo is a significant opportunity for Saudi Arabia to showcase its cultural richness and diversity to visitors from around the globe. It’s about presenting what’s unique about Saudi Arabia — its traditions, people, and youth — and partnering in progress. This cultural exchange is a key part of the Expo, showing the Saudi government’s understanding of the importance of cultural diplomacy to connect with different peoples and nations beyond traditional means. World Expo 2030: The Beacon of Change The successful bid for the Expo highlights Saudi Arabia’s commitment to innovation and its ambitious outlook for a prosperous future. It would significantly raise Saudi Arabia’s profile globally, enhancing its prestige and international exposure. This opportunity allows the country to showcase its cultural heritage, historical achievements, technological innovations, and futuristic goals. Such visibility is expected to increase tourism, draw international enterprises, and stimulate foreign investments. The World Expo 2030 aims to act as a catalyst for transformation, guiding Saudi Arabia towards a more diverse, sustainable, and knowledge-oriented economy. The effects of the Expo will go beyond economic advancements, encouraging cultural interactions, fostering international collaborations, and boosting national pride. Contact us to know more about the prerequisites of your business journey. Subscribe to Our Newsletter! Enter your email to receive our monthly newsletter. Popular

Saudi Food Sector: Cloud Kitchen Business in Saudi Arabia Introduction What is Cloud Kitchen Saudi Cloud Kitchen Market Overview Advantages of Setting Up a Cloud Kitchen in Saudi Arabia How to Set Up Your Cloud Kitchen in Saudi Arabia Start Your Cloud Kitchen Business in Saudi Arabia Introduction The cloud kitchen business is revolutionizing the food service industry in Saudi Arabia, offering a unique blend of convenience and innovation to meet the evolving demands of consumers. As the Kingdom embraces digital transformation across various sectors, the cloud kitchen model has emerged as a key player in the Saudi food sector, driven by the growing popularity of online food delivery services. This introduction to the cloud kitchen business in Saudi Arabia explores the economic, technological, and consumer trends propelling this industry forward, highlighting its potential to reshape the culinary landscape and offer entrepreneurs and investors lucrative opportunities in a rapidly expanding market. Read our blog to learn more about food business: Start Your Food Business in Saudi Arabia with Al Taasis What is Cloud Kitchen? A cloud kitchen operates from a commercial kitchen designed exclusively for preparing meals for delivery or takeaway, eliminating the need for a dine-in area. These kitchens offer restaurateurs a cost-effective way to grow their business or launch a new virtual brand. It opens up possibilities for scaling up, venturing into new markets, or experimenting with fresh concepts. Cloud kitchens serve as a testing ground for many restaurants, allowing them to use staff and resources while exploring innovative ideas efficiently. Cloud kitchen business models vary widely, catering to different operational needs and strategic goals: Shared Space Model: The shared space model allows restaurant operators to prepare dine-at-home meals using their own staff and ingredients within a kitchen owned by another party. This arrangement, often shared with other businesses, reduces the costs of running a traditional restaurant. Dedicated Space Model: In the dedicated space model, a brand rents or buys a kitchen for its exclusive use. This setup enables them to explore multiple concepts from one location without the involvement of other brands. Saudi Cloud Kitchen Market Overview Saudi Arabia is poised for a significant expansion in cloud kitchens, fueled by the growth of its food sector and the anticipation of hosting numerous international events, attracting an influx of tourists and opening new avenues for growth. The global delivery industry is expected to hit the $154 billion milestone by next year, largely driven by the surge in on-demand food services. The cloud kitchen market in Saudi Arabia, valued at $157.0 million in 2020, is projected to reach $335.7 million by 2030, growing at a CAGR of 7.7% from 2021 to 2030. The market is segmented by type into independent kitchens, commissary/shared kitchens, and kitchen pods. Product type includes offerings such as burgers/sandwiches, pizza/pasta, chicken, seafood, and Mexican/Asian food, among others. Additionally, the market is classified by nature into franchised and standalone operations. Market Segmentation Details Kitchen Type Independent Cloud Kitchen Commissary/Shared Kitchen Kitchenpods Product Type Burger/Sandwich Pizza/Pasta Chicken Seafood Mexican/Asian Food Others Nature Franchised Standalone Advantages of Setting Up a Cloud Kitchen in Saudi Arabia Launching a business is faster and more cost-effective with virtual customer interactions. This approach significantly reduces equipment costs and legal paperwork and allows entrepreneurs to begin sales almost immediately. It also offers the chance to pilot a product before investing in a food truck or a physical restaurant. Cloud kitchens provide several advantages: Flexibility in Menu Changes: Operating online allows for easy menu adjustments in response to fluctuating ingredient prices or availability without the need to update physical signage or printed menus. Reduced Financial Burden: Ghost kitchens cut out many of the costly aspects of traditional restaurants, such as decor, signage, dinnerware, and the need for a large staff, including servers and hosts. Room for Experimentation: They offer a low-risk environment for trying new food concepts, allowing for quick discontinuation of ideas that don’t resonate, with minimal financial loss. Operational Efficiency: Cloud kitchens are designed for delivery, enabling more streamlined operations. Running multiple brands from a single kitchen allows for batching ingredients across different menus, enhancing efficiency. Direct Access to Customer Insights: The digital nature of cloud kitchens facilitates direct engagement with customers throughout their journey, from discovery to order fulfilment. This access to customer data aids in refining processes, menu offerings, and staff scheduling based on consumer behaviour. Marketing through Third-party Apps: Virtual brands can quickly gain visibility through delivery apps, bypassing the need for extensive independent marketing efforts. How to Set Up Your Cloud Kitchen in Saudi Arabia Starting a cloud kitchen in Saudi Arabia is an excellent business opportunity as the Kingdom’s food delivery market is rapidly growing. Remember, the key to success in the food delivery industry is great food, service, and a strong online presence. Here’s a simple guide to setting up your cloud kitchen in Saudi Arabia. Understand the Market: Begin by researching the local food market. Identify popular cuisines, target demographics, and delivery areas with high demand but low service. This will help you tailor your menu and services. Develop a Business Plan: Craft a comprehensive business plan that outlines your business model, menu, pricing strategy, and marketing plan. Consider how you will differentiate your cloud kitchen from competitors. Obtain Necessary Licenses: In Saudi Arabia, you must secure several licenses to operate a cloud kitchen. Al Taasis can help you get through the licensing process smoothly. This includes a MISA license, commercial registration from the Ministry of Commerce, a municipality license, and a food safety license from the Saudi Food and Drug Authority (SFDA). Ensure you comply with all local regulations and standards. Find a Location: Select a location based on your target delivery areas. Consider industrial or peripheral areas with lower rents since customer footfall is irrelevant for a cloud kitchen. Kitchen Layout and Equipment: Design your kitchen for efficiency and safety. Invest in high-quality kitchen equipment and technology that can streamline your operations, such as an order management system. Adopt a POS System:

NEOM in Saudi Arabia: What’s Inside it? Overview Introduction to NEOM The Line Trojena Epicon Siranna Leyja Aquellum Sindalah Oxagon Utamo Norlana Zardun Why Invest in NEOM Start Your Saudi Business Journey with Al Taasis Overview Located in the Arabian Peninsula, Saudi Arabia is the world’s preeminent oil producer. The Saudi government seeks to diversify its economic base beyond this sector. This effort includes the introduction of Saudi Vision 2030 and the development of economic cities. The government has initiated the construction of new urban centres in various locations throughout the country to attract foreign investors worldwide. In January 2024, Saudi authorities broadened the scope of the Premium Residency Permit program. This expansion now includes new categories of expatriates, such as property owners and investors, eligible for extended residency in the country. NEOM, a key project in this initiative, promises exceptional living conditions and economic opportunities. This project aims to lead the way in several vital sectors: energy, food, media, water, mobility, tourism, sport, education, and others. NEOM is envisioned as a state-of-the-art city, aiming to become a global hub for innovative breakthroughs and a model for sustainable living. It encompasses a range of subprojects, including residential, industrial, tourism, commercial, and renewable energy developments, all within a single expansive area Introduction to NEOM NEOM, combining Greek and Arabic for “new future,” is a bold new city project by Saudi Arabia. Planned in the northwest of the country, it aims to make the economy less dependent on oil and more diverse. The project has caught the world’s attention because it promises to be sustainable and full of new ideas, with 11 unique areas. Neom Bay Airport now has international flights to and from big cities like Dubai, Doha, and London, connecting it to global business and travel networks. The NEOM project is set to make Saudi Arabia an essential place for innovation and trade by bringing in new industries and technologies. This will help grow local businesses, create jobs, and increase the country’s income. NEOM is expected to be the home and workplace for over a million people worldwide. It will have residential areas, ports, business zones, research centres, and places for sports, entertainment, and tourists to visit. Originally thought to cost $500 billion, the budget for NEOM has been updated. The first part of the project is now set to cost about $319 billion, with the Saudi government’s investment fund paying for half of it. The Line The Line is a new part of the NEOM project that Saudi Arabia’s government introduced. It’s a long, 170-km city development stretching from the mountains and valleys in the northwest of Saudi Arabia to the Red Sea coast. The Line is unique, only 200 meters wide, and it’s trying out a new way of city living. It will have two parallel tall, mirror-covered walls, with space inside for buildings, parks, schools, homes, and workplaces. The plan is to fit 9 million people into 34 square kilometres. Trojena Trojena, known as “The Mountains of NEOM” and situated 50km from the Gulf of Aqaba, is a key part of NEOM’s development. It’s a place where winter brings sub-zero temperatures, making it perfect for Trojena’s 36 km of ski slopes and various outdoor activities. Beyond sports, the area will offer 42,000 square meters of shops and places to eat, plus more than 3,000 rooms in hotels and serviced apartments. Trojena caught the world’s eye when it was chosen to host the 2029 Asian Winter Games. The region’s layout is the work of LAVA architects, including a plan for a 330-meter-tall tower designed by Zaha Hadid Architects. Epicon Epicon, located along the northern coastline of Saudi Arabia, is designed to offer visitors a unique experience of exploration and luxury. As the newest addition to NEOM’s range of tourism spots, Epicon will showcase high-end homes, beachfront villas, and resort amenities. Highlighting the property are two impressive towers, one standing at 225 meters and the other at 275 meters tall, offering 41-key hotels and residential spaces to provide a retreat from daily pressures. Siranna Siranna is set as a vacation destination in Northwest Saudi Arabia. This development is at the intersection of innovation, sustainability, and luxury, strongly emphasising environmental conservation and minimal ecological footprint. The unveiled architectural designs are inspired by the natural landscape, seeking to blend seamlessly with the surrounding mountains and wadis. This aligns with NEOM’s overarching aim to craft spaces that are both luxurious and in harmony with nature. Leyja Leyja, within NEOM, presents a master plan centred around three hotels, each crafted by internationally celebrated architects. Originally a pristine valley surrounded by mountains soaring 400 meters high, Leyja’s development includes a remarkable hotel by Chris van Duijn, a hotel with a reflective exterior designed by Shaun Killa, and a hotel that rises vertically as the rock faces around it by Mario Cucinella. Leyja is committed to conserving its natural beauty, planning to leave 95% of its terrain undisturbed and employing eco-conscious construction methods that harmonise with its surroundings. Aquellum Aquellum is the latest reveal from NEOM, positioned as a mountain retreat that marries innovation with nature. This development is tucked away along the Gulf of Aqaba, hidden within mountains reaching 450 meters. Aquellum aims to redefine conventional building practices, notably by introducing the world’s first floating marina. This marina is designed to move through a hidden underground canal, making the entire master plan a journey of sensory exploration. Sindalah Sindalah marks NEOM’s first step into island resort development near The Line on the Red Sea. Poised to be the earliest completion among NEOM’s diverse areas, Sindalah offers a bridge to the Mediterranean allure with its beach club, yacht club, spa, wellness facilities, hotels, and a large marina. This destination is crafted to provide a luxurious experience throughout the year, developed by the renowned Italian studio Luca Dini Design and Architecture and featuring three substantial hotels. Sindalah aspires to become NEOM’s leading luxury island and yacht club destination, setting a high standard for future developments.

Saudi Arabia’s Premium Residency: An Irresistible Attraction for Global Investors and Talents Introduction Special Talent Residency in Saudi Arabia Real Estate Residency in Saudi Arabia Gifted Residency in Saudi Arabia Investor Residency in Saudi Arabia Entrepreneur Residency in Saudi Arabia Saudi Premium Residency Benefits Obtain Your Premium Residency in Saudi Arabia with Al Taasis Introduction In 2019, Saudi Arabia initiated a premium residency system with two main options: a lifetime residency for SR800,000 ($213,000) and a yearly renewable residency for SR100,000 ($26,000). Recently, the system has been broadened to include five additional categories: special talent, gifted, investor, entrepreneur, and real estate owner, making a total of seven categories. This expansion aligns with Saudi Arabia’s Vision 2030, a plan focused on attracting skilled individuals to boost economic growth. Over the last six years, Saudi Arabia has seen a significant increase in foreign investment, growing from SR27 billion in 2017 to SR122 billion in the previous year. The enhanced residency program is expected to play a crucial role in increasing foreign direct investment’s share of the GDP from 3.8% to 5.7%, furthering the Kingdom’s ambitious economic objectives. Special Talent Residency in Saudi Arabia Saudi Arabia’s five-year special talent residency is designed for top-tier healthcare, science, and research professionals, aiming to attract individuals with unique skills that can enhance technology and knowledge exchange in the Kingdom. Applicants must meet specific criteria based on their professional field and income to be eligible. Healthcare and science professionals interested in this residency must earn a minimum monthly income of SAR35,000. Researchers are required to have a monthly salary of at least SAR14,000. For executives aiming for special talent status, it’s essential to have an executive-level employment contract with a monthly income exceeding SAR80,000. Applicants must also hold a Bachelor’s degree or higher and have an approved employment contract. This initiative targets high-level professionals, drawing expertise that can significantly contribute to Saudi Arabia’s evolving sectors. Real Estate Residency in Saudi Arabia The Real Estate Residency option in Saudi Arabia is tailored for individuals owning residential property in the country valued at SAR 4 million or above, with the key condition being that the property must be free from any current or future mortgages. This residency offers a high-quality lifestyle and opens up profitable investment opportunities in the Saudi real estate market. The duration of this residency is directly linked to the period of property ownership. Applicants must own a residential real estate asset worth at least SAR4 million without any associated real estate financing to qualify. The property must be developed and habitable, ruling out undeveloped or unimproved land. Furthermore, the property must be independently appraised and verified by accredited valuers from Saudi Arabia’s Taqeem authority. The residency status conferred through this plan is intrinsically tied to the ownership or usufruct of the property, emphasizing the Kingdom’s focus on attracting stable and long-term investments in its real estate sector. Gifted Residency in Saudi Arabia The Gifted Residency in Saudi Arabia is a specialized five-year program divided into two distinct categories aimed at integrating talented individuals into the country’s cultural and sports sectors. This residency is designed for those who have either been nominated for or have received recognition from the Saudi Ministry of Culture and the Ministry of Sports. In the first category, applicants must be either nominees or recipients of awards sanctioned by these ministries. Alternatively, they must satisfy specific eligibility criteria set by the same authorities. A key aspect of this residency is the emphasis on financial solvency, ensuring that applicants are economically stable. This initiative reflects Saudi Arabia’s commitment to enriching its cultural and sports landscapes by attracting and retaining individuals with exceptional talents in these fields. The program is structured to encourage the participation of gifted professionals, offering them a pathway to contribute to the Kingdom’s dynamic cultural and sporting environment. Investor Residency in Saudi Arabia Saudi Arabia offers a unique opportunity for investors through its Investor Residency program. This initiative is tailored for those looking to invest in the country’s growing economy. To qualify, applicants must invest a substantial amount of SAR7 million and are expected to create at least ten jobs within the first two years of their application. The process involves obtaining an investment license, which is a green light for conducting business in Saudi Arabia. Additionally, applicants need to provide essential business documents such as a commercial register and articles of incorporation. This program is a strategic move by Saudi Arabia to attract significant investments and create jobs, contributing to the Kingdom’s economic development. It’s an appealing option for investors seeking to become permanent residents and expand their business ventures in the Kingdom. Entrepreneur Residency in Saudi Arabia The Entrepreneur Residency program in Saudi Arabia offers two distinct categories for ambitious business founders. Both categories are designed to encourage entrepreneurial activity in Saudi Arabia, attracting individuals ready to invest, create jobs, and contribute to the Kingdom’s economic growth. The first category offers a five-year residency, which can be renewed for another term as long as certain conditions are met. Entrepreneurs must spend at least 30 months in Saudi Arabia within those five years and secure a minimum investment of SR400,000 from an accredited source. Additionally, they should own at least a 20% stake in their startup. The second category provides permanent residency right away but with different requirements. Entrepreneurs must create at least ten jobs in the first year and maintain or exceed this number in the second year. A significant investment of at least SR15 million is necessary, and the entrepreneur must hold a minimum of a 10% share in their business venture. Saudi Premium Residency Benefits Introducing five new premium residency categories in Saudi Arabia brings a wealth of opportunities for professionals and investors. This initiative is part of the Kingdom’s goal to establish itself as a leading destination for talent and investment, in line with its vision for a diverse, knowledge-based economy. Premium residents are offered a comprehensive environment to live, work, and contribute to

Top 5 Business Sectors in Saudi Arabia in 2024 Introduction Construction Tourism Information and Communication Technologies (ICT) Sports Food and Beverage Start Your Profitable Business in Saudi Arabia Introduction Saudi Arabia’s economy has reached a significant milestone, crossing the $1 trillion GDP mark for the first time in its 91-year history, ranking it as the 19th country globally to achieve this feat. The World Bank forecasts that Saudi Arabia’s GDP will grow by 4.1% in 2024, driven mainly by sectors other than oil. The Kingdom also leads venture capital fundraising in the MENA region, with Saudi startups raising $1.4 billion in 2023. This amount represents a 33% increase from the previous year, accounting for over half of the venture capital funding in the Middle East and North Africa. Launched by Saudi Arabia in 2016, Vision 2030 is a groundbreaking strategy to transform the country’s economic landscape. This vision aims to shift the Kingdom’s focus away from its traditional oil dependence by the end of this decade. Key components of Vision 2030 include diversifying into new sectors and enhancing infrastructure, healthcare, and education. The Kingdom’s inclusion in the BRICS group opens new economic opportunities and diversification paths. The development of the India Middle East Europe Economic Corridor (IMEC) coincides with Saudi Arabia’s efforts to expand its international trade, creating new business channels with other countries. This move is part of a broader strategy to strengthen and diversify Saudi Arabia’s economy beyond oil reliance. Construction Saudi Arabia’s construction industry is rapidly growing with new trends and ambitious projects. It’s now one of the fastest-growing construction markets in the world. The Saudi construction market is expected to be worth USD 70.33 billion in 2024 and is projected to increase to USD 91.36 billion by 2029. This growth, at a rate of 5.37% annually from 2024 to 2029, is driven by Riyadh’s Vision 2030. This plan aims to diversify and privatize the country’s large economy and includes significant projects like Neom Future Cities, Qiddiya Entertainment City, and the Red Sea Project. Saudi Arabia offers the most construction opportunities in the region. This growing market is an excellent chance for foreign companies to get involved and help build Saudi Arabia’s future. One key project is The Line, a smart city initiative started in 2020 near Riyadh as part of NEOM. NEOM is in the northwestern region of Saudi Arabia and includes smart cities and towns, ports, business hubs, research centres, sports and entertainment venues, and tourist attractions. The construction market is segmented into the following sectors: Commercial Construction Industrial Construction Infrastructure Construction Energy and Utilities Construction Institutional Construction Residential Construction Tourism Travel, tourism, and entertainment are key sectors in Saudi Arabia’s Vision 2030. Over the past three years, Saudi Arabia has issued more than 3,500 tourism investment licenses, signalling a robust expansion in its tourism sector. Backed by government efforts to improve the business climate and ease travel, the sector is set for significant growth. Initially aiming to attract 100 million visitors by 2030, the Kingdom has now raised its target to 150 million following a surge in tourism. In the first nine months of 2023, Saudi Arabia saw record spending by foreign tourists, leading the G20 nations in tourist growth rate. Additionally, it ranks second globally as the fastest-growing tourist destination. To support this growth, Saudi Arabia has implemented an Instant E-Visa system for travellers from 49 countries, allowing visits of up to 90 continuous days. Further bolstering the tourism industry are regulatory changes, including the new “Visiting Investor” visa. Vision 2030 is at the forefront of enhancing the tourism and leisure sectors by creating world-class attractions, streamlining visa processes, and developing historical and heritage sites. The upcoming World Expo 2030 in Riyadh is anticipated to boost tourism significantly. Besides this, Saudi Arabia is set to host several major global events. These include the Federation for Equestrian Sports World Cup Finals in 2024, the 2025 Asian Indoor & Martial Arts Games, the Asian Football Confederation’s Asian Cup in 2027, the Asian Summer Games in 2034, and the 2034 FIFA World Cup. These events position Saudi Arabia as a key global tourism destination. Information and Communication Technologies (ICT) With a value exceeding $40.9 billion and contributing 4.1 percent to the Kingdom’s GDP, Saudi Arabia’s Information and Communications Technology (ICT) market stands as the most substantial and rapidly growing in the Middle East and North Africa. The Kingdom is strategically poised to evolve into a central hub for technology services and cloud computing. Its geographical location, with access to the Red Sea and the Gulf, positions it ideally to cater to European, Asian, and African markets. In line with Vision 2030, the Ministry of Communications and Information Technology (MCIT) aims to develop a state-of-the-art digital infrastructure. The goal is to facilitate digital transformation across various domains, such as e-commerce, digital education, digital health, smart cities, national data management, and e-government. The 2023 ICT Strategy of Saudi Arabia plans to create over 25,000 jobs in the ICT field, enhance the IT market and emerging technologies by 50 percent, and increase the sector’s GDP contribution by $13.3 billion. The strategy also focuses on attracting foreign investment and promoting women’s involvement in the sector. The Economic Cities and Special Zones Authority has also initiated a Cloud Computing Special Economic Zone. Unique in the region, this zone allows cloud service providers to establish data centres across Saudi Arabia and deliver various cloud computing services. This move marks a significant advancement in Saudi Arabia’s journey to become a global leader in the ICT sector. The leading sub-sectors are: Cybersecurity Internet of Things (IoT) & Smart Cities Cloud Computing Artificial Intelligence 5 G E-Commerce Sports Saudi Arabia is increasingly becoming a hub for major sporting events, reflecting its citizens’ growing interest in sports. The Kingdom has successfully hosted several notable events, such as high-profile boxing matches, ATP tennis tournaments, and Formula 1 races, starting in 2021. The momentum is set to continue with an exciting lineup of future events. These include

Transport and Logistics Sector in Saudi Arabia: A Landscape of Opportunities Introduction Overview of the Saudi Logistics Sector Saudi Master Plan for Global Logistics Centres Special Economic Zones with a Focus on the Logistics Sector Unified Logistics License in Saudi Arabia Enter the Saudi Transport and Logistics Sector with Al Taasis Introduction Saudi Arabia is embarking on a transformative journey to boost its economy through the National Strategy for Transport and Logistics Services. This ambitious initiative is a key pillar of Saudi Arabia’s Vision 2030, which targets enhancement across all transport sectors, including air, sea, land, and railways. The goal is to elevate the Kingdom into the top 10 countries in the Logistics Performance Index by 2030. At the heart of this strategy lies the aim to establish Saudi Arabia as a top international logistics hub. This plan is not just about strengthening global connections; it’s also about leveraging Saudi Arabia’s unique geographical location at the crossroads of Asia, Africa, and Europe. By developing a sophisticated logistics services industry, implementing high-quality service systems, and adopting competitive business models, the country aims to diversify its economy. These efforts are expected to drive increased productivity and sustainability in the logistics sector, marking a significant step towards a more prosperous and interconnected future. Overview of the Saudi Logistics Sector Saudi Arabia’s logistics sector, a key part of the National Strategy for Transport and Logistic Services, is crucial due to the country’s strategic location on major global trade routes. The Ministry of Transport and Logistics is dedicated to enhancing this sector, focusing on developing the logistics industry, improving exports, expanding investments, and partnering with the private sector. Geographically, Saudi Arabia is uniquely situated on the Arabian Gulf and the Red Sea, making it an important global trade with a significant portion of the world’s oil and trade passing through its waters. This position enables it to connect markets of over 6 billion people. The Kingdom has shown remarkable progress in logistics efficiency, evidenced by its improved rankings in global indices, including a significant jump in the World Bank’s Logistics Performance Index in April 2023. Saudi Arabia also strengthens its logistic sector with initiatives like the Al-Khamra Logistics Zone. Saudi Master Plan for Global Logistics Centres Saudi Arabia’s master plan aims to significantly enhance its logistics sector as part of the broader National Transport and Logistics Strategy. The plan involves the development of logistic zones intended to accelerate exports, re-exports, and e-commerce and to stimulate trade through land ports. Key goals include increasing re-export revenues from 42 billion riyals ($11.2 billion) to 520 billion riyals ($138.65 billion), boosting export growth from 185 billion riyals ($49.33 billion) to 507 billion riyals ($135.18 billion), and expanding the e-commerce sector’s contribution from 6% to 23%. Saudi Arabia will establish 59 logistics centres covering over 100 million square meters across the Kingdom. These centres will be strategically distributed, with 12 in Riyadh, 12 in Makkah, 17 in the Eastern region, and 18 in other areas. Currently, 21 centres are under construction, and all are expected to be operational by 2030. This initiative reflects Saudi Arabia’s commitment to developing its logistics sector to support the national economy. By enhancing connections between international trade networks and global supply chains and fostering partnerships with the private sector, the country is ready to strengthen its position as a key player in the global logistics landscape. Special Economic Zones with a Focus on the Logistics Sector Saudi Arabia is enhancing its logistics sector by establishing special economic zones, offering unique incentives and facilities to boost economic growth and global trade connectivity. These special economic zones are integral to Saudi Arabia’s strategy to boost its logistics sector, providing conducive environments for businesses to thrive and connecting the Kingdom more closely to the global economy. ILBZ: Located adjacent to King Khalid International Airport in Riyadh, the Integrated Logistics Bonded Zone (ILBZ) is a special economic zone to transform the Kingdom into a global transportation and logistics hub. It provides a business-friendly environment with incentives like 100% foreign ownership, full capital repatriation, a 50-year tax holiday (including VAT and customs suspension), complete customs and import restrictions suspension, and no tax withholding on payments to non-residents under certain conditions. KAEC SEZ: The King Abdullah Economic City (KAEC) SEZ, near Jeddah on the Red Sea, is the Kingdom’s leading zone for advanced manufacturing and logistics. Its strategic location provides easy access to global trade routes through the King Abdullah Port, ranked the world’s most efficient port by the World Bank in 2022. This SEZ offers businesses access to a skilled workforce and is a gateway to international markets.

Saudi Entrepreneurial Landscape: A Global Hub for Startups and Investors Introduction Overview of Saudi Entrepreneurial Landscape Saudi Youth and Women Entrepreneurs A Supportive Startup Ecosystem in Saudi Arabia The Garage, Middle East’s Largest Business Accelerator Saudi Arabia, a Magnet for Global Entrepreneurs Obtain Your Entrepreneur License in Saudi Arabia Introduction Saudi Arabia is becoming a key hub for global entrepreneurs, driven by its Vision 2030 initiative, a supportive public sector, and a dynamic culture of entrepreneurship. This blend creates an ideal environment for new businesses, helping them navigate the initial challenges of starting up. The efforts made in the last five years have been vital in supporting local startups and advancing towards the goals of Vision 2030. These initiatives strengthen the core elements of entrepreneurship and positively shape the future of the entrepreneurial ecosystem in Saudi Arabia. Overview of Saudi Entrepreneurial Landscape Over the last five years, Saudi Arabia’s entrepreneurial landscape has experienced a significant boom, with startups increasing by an impressive 87% annually from 2017 to 2022. A highlight of this growth is the emergence of the first Saudi unicorn, realized through the successful IPO of Jahez. Additionally, there’s been a notable influx of venture capital funding, elevating Saudi Arabia to the second-highest position in the GCC regarding VC investment. Sectors like technology, fintech, and e-commerce are leading this growth. E-commerce, in particular, is on a rapid ascent, with projections suggesting its value may surpass $13 billion by 2025. These thriving sectors align with the objectives of Saudi Vision 2030, a strategic framework aimed at diversifying the country’s economy. Key goals of Vision 2030 include enhancing the small businesses’ contribution to the GDP from 20% to 35% and boosting foreign direct investment from 3.8% to 5.7%. These statistics and developments testify to the robust and dynamic entrepreneurial environment being fostered in Saudi Arabia, aligning perfectly with its broader economic objectives. Saudi Youth and Women Entrepreneurs Vision 2030 in Saudi Arabia actively fosters a pool of specialized talent, which aligns well with the country’s youthful energy, as over half of its population is under 30 and adept with technology. This strategy is supported by efforts to attract skilled professionals worldwide. The landscape of women’s entrepreneurship is also flourishing, driven by reforms opening doors for women to contribute significantly to the economy. This aligns with the Vision 2030 goal to create one million jobs for women. The combination of young and female entrepreneurs reshapes Saudi Arabia’s business environment. By the third quarter of 2023, women owned 33.7% of commercial registrations, and young men accounted for 38.6%. These statistics reflect a growing and inclusive business culture in Saudi Arabia, where diversity and innovation are key to economic progress. Obtaining an Entrepreneur License in Saudi Arabia is a crucial step for any budding business owner, signifying the start of a promising entrepreneurial journey within the Kingdom’s rapidly evolving economy. A Supportive Startup Ecosystem in Saudi Arabia The Saudi Small and Medium-Sized Enterprises (SMEs) General Authority, Monshaat, plays a pivotal role in fostering entrepreneurship by setting policies and organizing forums like Biban, which connects entrepreneurs, investors, and officials globally. The modernized regulatory landscape simplifies startup and VC operations, including a streamlined business registration process and the new Saudi Companies Law, effective January 2023. Additionally, Saudi Arabia’s strategic location as a global convergence point offers entrepreneurs easy access to multiple continents. The government’s support through incentives, grants, and a nurturing investment community further bolsters this ecosystem. The investment scene in Saudi Arabia has seen tremendous growth, with funding skyrocketing to an impressive USD 987 million in 2022, a massive increase from just USD 59 million in 2018. This growth is partly due to a range of new programs designed to boost entrepreneurship at various stages of investment. Initiatives like TAQADAM, Misk Launchpad & Accelerator, and the Garage have bolstered the startup ecosystem, especially for early-stage companies. The Saudi Unicorn program is a standout initiative launched by the Misk Foundation, the Ministry of Communications and Information Technology (MCIT), and the National Technology Development Program. This program aims to propel early-stage startups towards achieving unicorn status, significantly enhancing the entrepreneurial landscape in Saudi Arabia. The Garage, Middle East’s Largest Business Accelerator Established in April 2022, the Garage serves as a dynamic hub for local and international startups. It actively recruits startups to participate in its various programs and events. This startup district boasts a capacity of over 300 startups, with 24 meeting rooms, an ample event space that can host over 1,000 people, and areas specifically set aside for training workshops. Since its launch, The Garage has been nurturing startups with several partners, including Google for Startups, the National Technology Development Program, KAUST Destination Deep Tech, and the Ministry of Investment. The accelerator provides six unique programs: Garage Plus, ACCESS Disability Technologies Accelerator, Garage Incubator, MVP Lab, GAIA Business Accelerator, and the first Middle East edition of the Antler program. The Garage’s inauguration is a pivotal moment in both local and global startup landscapes, offering entrepreneurs an opportunity to be part of an extensive network of partners and founders. Saudi Arabia, a Magnet for Global Entrepreneurs Saudi Arabia is rapidly establishing itself as a leading destination for global entrepreneurs, backed by business-friendly policies and forward-thinking initiatives. The Kingdom is actively inviting investors, innovators, and creative talents from around the globe to explore its vast resources and burgeoning opportunities. This proactive stance has earned significant interest from global venture capitalists, strengthening Saudi Arabia’s emergence as a key entrepreneurial hub. In addition to these efforts, Saudi Arabia is making significant strides with ambitious projects like NEOM. NEOM is envisioned as a hub for innovation, technology, and sustainability, designed to attract the world’s leading minds in business and science. This futuristic project aligns with Vision 2030’s objectives, emphasizing the Kingdom’s commitment to creating a cutting-edge environment for business and innovation. By building advanced infrastructures, enacting regulatory reforms, and offering skill development programs, Saudi Arabia is enhancing its appeal as a global centre for entrepreneurs. These comprehensive measures create a

Launch Your Sports Business in Saudi Arabia’s Global Sports Hub Introduction Overview of the Saudi Sports Industry Key Initiatives to Boost Saudi Sports Sector Major Sporting Events in Saudi Arabia Esports in Saudi Arabia Upcoming Sports Events Sports Tourism in Saudi Arabia Start Your Sports Business in Saudi Arabia Introduction Sports have been pivotal in Saudi society since the 1950s, becoming integral to the country’s cultural fabric. Crown Prince Mohammed bin Salman’s ambition to elevate the Saudi football league to one of the world’s top 10 is a testament to the Kingdom’s dedication to sports. Launched in May 2018 to achieve this goal, the Quality of Life Program places a central emphasis on sports. Numerous initiatives within the program are dedicated to fostering widespread participation, enhancing the performance of Saudi athletes in international competitions, and promoting the growth of the sports economy. This strategic move aligns with Saudi Vision 2030, aiming to position Saudi Arabia as a leading country with a diverse, thriving economy and a vibrant society. Overview of the Saudi Sports Industry With nearly 70 percent of the population under 30, Saudi Arabia recognizes the importance of catering to its largest demographic. Vision 2030 wants to build a lively society by encouraging a healthy and balanced lifestyle, both physically and socially. The sports sector, valued at $5.75 billion in 2022, is set to expand significantly, targeting $22.2 billion by 2030. Recent investments, exceeding $6.3 billion since 2021, highlight the government’s focus on sports, encompassing football, Formula 1, golf, winter sports, and tennis. The sports event industry is growing at an impressive rate of 8% per year, indicating a robust and dynamic market. Currently, the sports sector contributes approximately 0.2% to the Kingdom’s GDP, while the tourism sector makes up around 3%, as per the Ministry of Sport and Ministry of Tourism. Both ministries have ambitious growth targets: sports are projected to contribute 0.6% to the GDP, and tourism is expected to make up 10% by 2030. Key Initiatives to Boost Saudi Sports Sector To foster the growth of the sports sector, Saudi Arabia’s Public Investment Fund has established SRJ Sports Investments. This investment company aims to acquire and create intellectual property rights for sports events, commercialize popular competitions, and host major global sporting events. The focus on fan engagement activities and transformative sports technology aligns with Vision 2030’s commitment to creating a vibrant society through a healthy lifestyle. Initiatives promoting women’s participation in sports and ongoing development of sports facilities demonstrate a commitment to inclusivity and continuous improvement in the sports sector. The launch of the ‘Sports Clubs Investments and Privatisation Project’ marked a significant milestone as the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, assumed control of four SPL clubs—Al-Ahli, Al-Ittihad, Al-Hilal, and Al-Nassr. This strategic maneuver not only transferred ownership but also provided the clubs with substantial financial backing from a sovereign wealth fund boasting assets approaching nearly 800 billion US dollars. Investments in the next five years in sports: US$2b Committed to support sports club in achieving privatization: US$670m Private sector investment committed through clubs’ sponsorships until 2023: US$320m Major Sporting Events in Saudi Arabia Hosting sporting events yields numerous benefits, including direct economic impact, increased interest in sports, tourism development, entertainment, improved national image, and a sense of pride and unity among Saudis. These events contribute to the Kingdom’s goal of promoting a healthy lifestyle and fostering social and economic development. Saudi Arabia has become a key player in global sports events, hosting high-profile competitions such as the Saudi Arabian Grand Prix, Joshua v Ruiz II – “Clash on the Dunes,” and the Saudi Cup international horse racing event. The bid to host the FIFA World Cup in 2030 reflects the Kingdom’s ambition to showcase its sports infrastructure and boost sports tourism, contributing significantly to the economy. The Middle East, particularly Saudi Arabia, has become a hotbed for sports, with MMA (Mixed Martial Arts) witnessing significant growth in popularity. Hosting major sporting events displays Saudi Arabia’s cultural richness, attracts foreign direct investments, and bolsters tourism. Esports in Saudi Arabia Recognizing the global popularity of esports, Saudi Arabia has invested in nurturing its esports scene. The establishment of the Saudi Esports Federation and the launch of the Gamer8 Festival highlight the Kingdom’s commitment to this burgeoning industry. The Public Investment Fund’s allocation of $37.8 billion for esports and gaming underscores the potential for growth and development in this sector. Upcoming Sports Events in Saudi Arabia Saudi Arabia’s commitment to sports is evident in hosting upcoming events. These events enhance the country’s global standing and contribute to the economy through tourism and infrastructure development. Year Event 2025 Asian Indoor and Martial Arts Games 2027 AFC Asian Cup 2029 Asian Winter Games 2034 Asian Games 2034 FIFA World Cup Sports Tourism in Saudi Arabia Saudi Arabia has set its sights on enhancing its appeal to “sport tourists” — individuals who visit the country for major sporting events or engage in recreational sports. The most recognizable form of sports tourism is characterized as “spectator sports tourism,” encompassing multi-sports events like the Olympics, Asian Games, Asia Cup, World Cup, Formula One, and more. The Saudi government’s focus on sports tourism is evident through hosting events like the World Boxing Super Series and the Formula E Diriyah E-Prix. These events boost the sporting industry and contribute significantly to the overall economy. The country also hosts international tennis and golf tournaments and stages high-profile football games, with the Saudi football team being one of Asia’s most successful, having secured victory in the Asian Cup three times. In 2020, the size of the worldwide sports tourism market reached a valuation of $323.4 billion. Saudi Arabia’s multibillion-dollar investment in NEOM, set to host futuristic sporting events, further strengthens the Kingdom’s commitment to becoming a global sports destination. Start Your Sports Business in Saudi Arabia with Al Taasis The Kingdom’s commitment to hosting major sporting events, promoting sports tourism, and embracing emerging trends like esports positions it as a dynamic and

The Impact of India-Middle East-Europe Economic Corridor (IMEC) on Saudi Arabia Introduction Overview of IMEC Initiative Strategic and Geopolitical Significance of IMEC UAE and Saudi Arabia as Global Trade Hubs IMEC and Saudi Vision 2030: A Dynamic Economic Duo Introduction The recently announced India-Middle East-Europe Economic Corridor (IMEC) has positioned Saudi Arabia as a key player in reshaping the region’s economic landscape. The corridor, unveiled during the G20 summit in New Delhi in September 2023, represents a groundbreaking initiative to enhance trade and foster energy resource development and digital connectivity between Europe, the Middle East, and Asia. Global trade is expected to increase from $21 trillion to $32.6 trillion by 2030, driven by the Middle East, Africa, and Asia. Overview of IMEC Initiative At its core, the India-Middle East-Europe Economic Corridor (IMEC) comprises two vital transit corridors—ship-to-rail links covering a vast span of 4,800km. These corridors will traverse the United Arab Emirates (UAE), Saudi Arabia, Jordan, and Israel, connecting India to Europe through the Arabian Gulf. The initiative is set to significantly reduce transit times and costs, with estimates suggesting a 40% reduction in the time it takes to transport goods from India to Europe and a 30% cut in transit costs. If IMEC becomes a well-managed and politically accepted trade route, it could greatly improve how developing economies operate, create more jobs, and make their economies stronger. It could also work well with other important trade routes involving the UAE and Saudi Arabia. Strategic and Geopolitical Significance of IMEC The corridor’s Eastern and Northern segments will link India to West Asia, the Middle East, and West Asia and the Middle East to Europe. This strategic connectivity initiative aims to enhance trade efficiency and foster economic cooperation, countering China’s Belt and Road project, which has wielded considerable influence across Asia, Africa, and Latin America. From a geopolitical perspective, the India-Middle East-Europe Economic Corridor (IMEC) is a bold move that challenges China’s regional economic dominance. However, it goes beyond rivalry and competition; the corridor is a beacon of cooperation, innovation, and shared progress for India, West Asia, and Europe. The Partnership for Global Infrastructure Investment, as the project is officially named, is expected to accelerate trade between India and Europe by 40%, creating long-term business opportunities and strengthening ties between the participating countries. UAE and Saudi Arabia as Global Trade Hubs Moreover, the corridor emphasizes the role of the United Arab Emirates and Saudi Arabia as pivotal players in global trade routes. Using their seaports, roads, and logistics hubs will strengthen their regional positions and elevate them to critical nodes in the international trade network. By leveraging their geographical advantage, these Gulf Arab states assert themselves as essential partners to the Global North and South. Despite the immense potential, the success of the India-Middle East-Europe Economic Corridor (IMEC) hinges on effective coordination and collaboration between the involved countries. While the corridor’s announcement was met with enthusiasm, international and domestic politics could challenge its realization. Western powers, including the European Union and the United States, are vested in ensuring the IMEC’s success, representing a significant shift in their efforts to promote trade in the Middle East. IMEC and Saudi Vision 2030: A Dynamic Economic Duo For Saudi Arabia, this initiative aligns seamlessly with its ambitions for economic diversification away from hydrocarbons. The IMEC provides a golden opportunity for the Kingdom to emerge as a crucial hub of inter-regional connectivity. Saudi Arabia’s inclusion in the corridor strengthens its strategic importance, not only as a contributor to the project but also as a beneficiary of the economic transformation it promises. As India-Middle East-Europe Economic Corridor (IMEC) participants prepare to meet in the coming months to deliberate on the details and costs underpinning this transformative initiative, Saudi Arabia finds itself at the forefront of a project that has the potential to reshape the economic landscape of the region. The IMEC is not just a trade corridor; it is a testament to the collaborative efforts of countries to create a more interconnected and prosperous future. Saudi Arabia’s Vision 2030 has already positioned the Kingdom as the fastest growing economy. This trade corridor is a strategic leap forward for Saudi Arabia, propelling the Kingdom into a leading role as a hub of regional connectivity and economic transformation. Subscribe to Our Newsletter! Enter your email to receive our monthly newsletter. Popular Articles Opening Digital Business Account with Wio Bank Saudi Arabia’s Economic Cities KSA, an Irresistible Attraction for Tourists Government Entities and Online Portals Dealing with Import and Selling in Saudi Arabia: SFDA, SASO, SABER and FASAH Business Licenses Offered by MISA to Foreign Investors Visa Types in Saudi Arabia No posts found

Regional Headquarters and Premium Residency in Saudi Arabia Introduction Regional Headquarters License in Saudi Arabia Premium Residency for Executives of RHQ Companies with RHQ Licenses in KSA Requirements for Regional Headquarters in KSA Establish Your Regional Headquarters in Saudi Arabia Introduction Saudi Arabia has emerged as a prominent destination for foreign investments and businesses, with a strong focus on enhancing its business climate. Saudi Arabia introduced four special economic zones in April 2023 to bolster its position as a global investment centre, aiming to diversify the economy and create an attractive environment for international companies. Saudi Arabia is rapidly emerging as a powerhouse in the business world, aiming to create an investor-friendly environment for foreign companies. Saudi Arabia, a member of the G20, possesses one of the world’s largest and fastest-growing economies, driven by its abundant natural resources, including oil, natural gas, and minerals. The country offers investment opportunities in various sectors, such as tourism, communications, and renewable energy. Its world-class infrastructure and facilities create a favorable environment for investors and entrepreneurs. Additionally, Saudi Arabia provides an exceptional quality of life, with cities like Riyadh, Jeddah, Medina, and Dammam, a diverse expatriate community, and picturesque landscapes, including stunning beaches. Regional Headquarters License in Saudi Arabia The Regional Headquarters Program, initiated by the Ministry of Investment and the Royal Commission for Riyadh, invites global companies to establish their regional headquarters in Saudi Arabia. These regional headquarters serve as vital bases for multinational corporations, ensuring compliance with Saudi laws and providing strategic support and management for their branches and subsidiaries across the Middle East and North Africa. Al Taasis helps you acquire Regional Headquarters license conveniently. The Ministry of Investment, in collaboration with the Ministry of Human Resources and Social Development, has introduced incentives to support regional headquarters. These incentives include customized visa grants, permission for spouses to work under the residency of their partners, and an extension of the age limit for the children of regional headquarters employees to 25 years. Premium Residency for Executives of RHQ The Premium Residency program is one of the most attractive aspects of setting up an RHQ in Saudi Arabia. This residence permit grants foreign nationals the right to live, work, and own businesses and property in the Kingdom without requiring a sponsor. This initiative, implemented by the Ministry of Investment in coordination with the Premium Residency Center, offers a host of benefits: Residential Freedom: Premium Residency holders and their eligible family members can reside, work, and invest in Saudi Arabia, with the ability to freely change employment within the private sector. Property Ownership: The right to own residential, commercial, and industrial real estate in all areas of the Kingdom, except for Mecca, Madina, and border regions. Ownership of Vehicles:The right to own cars and other means of private transportation and license them within Saudi Arabia. Family Benefits: Issuing visit visas for various family members, including parents, grandparents, grandchildren, siblings, and their children. Investment Opportunities:The right to invest in the Saudi Capital Market Workforce Management: Possibility to recruit foreign domestic workers and arrange their residency. Travel Flexibility:The freedom to leave and enter the Kingdom at their discretion, using lanes designated for Saudi citizens at Saudi airports. Continuation for Family: In the event of the primary holder’s death, the spouse and children under 21 will retain their premium residency rights and benefits. Companies with RHQ Licenses in KSA The appeal of Saudi Arabia’s business environment is evident in the increasing number of international companies relocating to the Kingdom. The government’s decision to enter contracts only with companies with regional headquarters in the Kingdom has attracted 44 international companies. Notable names such as PepsiCo, PwC, Clifford Chance, Bupa, MBC Group, Hewlett Packard, ABB, and Bechtel have already set up their regional headquarters in Saudi Arabia, aligning with the government’s vision for economic growth and diversification. As of the third quarter of 2023, over 162 RHQ licenses have been issued, and the Kingdom has ambitious plans to have 480 companies open regional HQs by 2030, aligning with the objectives of Vision 2030. Requirements for Regional Headquarters in KSA For those considering setting up RHQs in Saudi Arabia, there are specific requirements and activities that must be met. RHQs must perform mandatory strategic and management activities within six months of obtaining their license from the Ministry of Investment and Saudi Authority for Industrial Cities and Technology Zones (MODON). These activities include formulating and monitoring a regional strategy, coordinating strategic alignment, embedding regional products and services, and more. In addition to the mandatory activities, RHQs must also carry out at least three optional activities within a year of obtaining their license. These optional activities encompass various aspects of business management, from human resources and financial management to research and development and logistics. RHQs must also employ at least 15 full-time employees, with at least three at the executive director or vice president level, within a year of obtaining the license. Non-compliance with this requirement may lead to the revocation of the license. Learn more about Regional Headquarters licensing requirements. Establish Your Regional Headquarters in Saudi Arabia with Al Taasis Saudi Arabia’s commitment to attracting global companies through its RHQ program and the Premium Residency initiative provides a compelling case for businesses to set up their regional headquarters in the Kingdom. With its strategic location, robust infrastructure, and a wealth of incentives, Saudi Arabia is not just a regional business hub but a gateway to the world of opportunities. As more international companies recognize the benefits of investing in Saudi Arabia, the Kingdom is set to continue its journey towards becoming a global economic powerhouse. By establishing your regional headquarters in the Kingdom, you can tap into its vast business potential while enjoying the privileges of Premium Residency. Be part of Saudi Arabia’s thriving business landscape and experience the freedom and opportunities it offers. Contact us to know more about the prerequisites of your business journey. Subscribe to Our Newsletter! Enter your email to receive our monthly newsletter. Popular Articles