Riyadh, Saudi Arabia – Saudi Arabia has so far issued 162 regional center licenses to the companies relocating their headquarters to the Kingdom, Saudi ministry of finances said.
The Regional Headquarters Program, a collaborative effort spearheaded by the Ministry of Investment and the Royal Commission for Riyadh, is working diligently to encourage global corporations to relocate their regional hubs to Saudi Arabia.
The headquarters will operate in strict accordance with Saudi laws, providing crucial support, management, and strategic direction to their branches and subsidiaries situated across the Middle East and North Africa.
Aiding this endeavor, the Ministry of Investment has enacted a mechanism to offer premium residency status to executives working within these regional headquarters, in coordination with the Premium Residency Center. Moreover, in collaboration with the Ministry of Municipal and Rural Affairs and Housing, the ministry has devised an exception mechanism that allows companies with regional headquarters to establish their primary offices within one of their branches within the Kingdom.
Efforts to attract and support the regional headquarters have not stopped there. The Ministry of Investment has partnered with the Ministry of Human Resources and Social Development to introduce incentives specifically tailored for employees of regional headquarters. The incentives encompass visa allocations based on the company’s requirements, permissions for spouses to work under the residency of their husband or wife, and an extension of the legal age for the stay of children with regional headquarters employees, now allowing children to stay until they reach 25 years of age.’
Also, in collaboration with the Ministry of Commerce, the Ministry of Investment has streamlined administrative procedures, ensuring a dedicated and efficient process for issuing commercial records for regional headquarters companies.