# Analytix Arabia --- ## Pages - [Quality of Life in Saudi Arabia](https://analytix.sa/quality-of-life-in-saudi-arabia/): Saudi Arabia provides a modern and vibrant lifestyle, influenced by rapid development and a young, energetic population. Read more. - [Investor Journey](https://analytix.sa/investor-journey/): The investor journey consists of four key stages: Information Gathering, Preparing & Planning, Process & Setup, Operations & Engagement. Lets see in detail. - [Why Saudi Arabia](https://analytix.sa/why-saudi-arabia/): Confused why Saudi Arabia compared to other middle east countries? IHere we list why you should consider Saudi for your business expansion. - [Opportunities In Saudi Arabia](https://analytix.sa/opportunities-in-saudi-arabia/): With strong economic growth and new initiatives, there are more opportunities in Saudi Arabia than ever before. Lets see them in detail. - [Link Tree](https://analytix.sa/link-tree/): Analytix Simplify your business setup in Saudi Arabia with Analytix—expert guidance, end-to-end support, and seamless compliance to launch your company... - [Daily News](https://analytix.sa/daily-news/): Stay informed with our Daily update on key Saudi business developments. Read the latest business news in saudi arabia - [Premium Residency](https://analytix.sa/premium-residency-in-saudi-arabia/): Analytix simplifies the process of securing Saudi Premium Residency, offering solid support from the start to end, that is from application procedure. - [Privacy Policy](https://analytix.sa/privacy-policy/): This Privacy Policy governs the manner in which Analytix uses, maintains and discloses information collected from users (each, a “User”) of the analytix.sa website (“Site”). This privacy policy applies to the Site and all products and services offered by Analytix. - [Trademark & Intellectual Property Registration](https://analytix.sa/trademark-registration-in-saudi-arabia/): At analytix, we navigates the complexities of trademark registration in Saudi Arabia (KSA) making it a precise, smooth, and reliable process - [Home](https://analytix.sa/): Analytix helps you with your business formation in Saudi Arabia and offers a wide range of business support solutions for the growth of your business. - [Contact Us](https://analytix.sa/contact-us/): Talk to Analytix's expert business consultants. - [Register Company for GCC Nationals](https://analytix.sa/gcc-nationals-company-in-saudi-arabia/): Analytix is your one-stop-solution business partner for GCC national company formation in saudi. - [Cost Calculator](https://analytix.sa/business-setup-cost-calculator/): Try our convenient and interactive cost calculator to get the estimated cost of starting a business in Saudi Arabia without delay. - [International Business Setup](https://analytix.sa/international-company-formation/): Make use of the expertise Analytix has in international business setup to seamlessly begin your business journey on a global scale. - [Business Setup in UAE](https://analytix.sa/business-setup-in-uae/): Choose Analytix as your partner for your business venture in UAE, and experience a strategic path to the Middle East’s economic wealth, and cultural diversity. - [Business Setup in Oman](https://analytix.sa/business-setup-in-oman/): Analytix can help you to discover a seamless business setup in Oman and make use of the unlimited business opportunities in the kingdom. - [Business Setup in UK](https://analytix.sa/business-setup-in-uk/): Analytix provides you with tailored solutions to help with the business establishment or expansion into the UK. Hire us for business setup in UK - [Business Setup in India](https://analytix.sa/business-setup-in-india/): We provide invaluable support for businesses looking to set up and expand into the Indian market. Hire us for business setup in India. - [About us](https://analytix.sa/about-us/): Analytix is more than just a business consultant - we are strategic partners helping your business grow and develop. - [Riyadh](https://analytix.sa/business-setup-and-support-in-riyadh/): Analytix is your one-stop-solution for all your business setup services in Riyadh. Aim for building your business in the capital city. - [PRO Services in Saudi Arabia](https://analytix.sa/pro-services-in-saudi-arabia/): At Analytix, we simplify pro services in Saudi Arabia. We have a team of experts who ensure your needs are met efficiently. Hire professional services in KSA - [Business Expansion and Restructuring Support in Saudi Arabia](https://analytix.sa/expansion-and-restructuring-support-in-saudi-arabia/): Our trusted group of business expansion and restructuring consultants in saudi arabia is dedicated to helping your business journey. - [Factory Setup in Saudi Arabia](https://analytix.sa/factory-setup-in-saudi-arabia/): Setting up your factory in Saudi Arabia opens up a gateway into the Middle East market. Experience seamless factory setup services in Saudi Arabia with us - [Company Dissolution Services](https://analytix.sa/company-dissolution-services-in-saudi-arabia/): Experience expert corporate guidance with our company dissolution services in KSA. We deal with all parts of a company’s liquidation process in Saudi Arabia - [Special Economic Zones](https://analytix.sa/special-economic-zones-in-saudi-arabia/): Analytix is your expert service provider for business setup in the Special Economic Zone in Saudi Arabia. Contact us for setting up a free zone company in KSA - [GRO Services in Saudi Arabia](https://analytix.sa/gro-services-in-saudi-arabia/): Analytix helps you to open the gateway to efficiency and compliance with seamless government relations officer (GRO) services in Saudi Arabia. - [Regional Headquarters](https://analytix.sa/regional-headquarters-in-saudi-arabia/): Easy setup of Regional Headquarters in Saudi Arabia with Analytix. Contact us for streamlined establishment of RHQ in KSA. - [Business Licenses in Saudi Arabia](https://analytix.sa/business-license-in-saudi-arabia/): Start a journey towards business set up in Saudi Arabia by acquiring your business license in Saudi issued by MISA - [Entrepreneur License](https://analytix.sa/entrepreneur-license-in-saudi-arabia/): Secure seamless entrepreneur license in Saudi Arabia with Analytix. Connect with us for an Entrepreneur license in Saudi Arabia’s requirements and more. - [Business Sectors in Saudi Arabia](https://analytix.sa/business-sectors-in-saudi-arabia/): Home Business Sectors in Saudi Arabia. Explore Investment Opportunities Across Many Promising Business Sectors in Saudi Arabia Vision 2030 drives... - [Accounting & Tax Services](https://analytix.sa/accounting-and-bookkeeping-services-in-saudi-arabia/): We are one of the top audit companies in Saudi Arabia. Our team of experts is good at doing full accounting and bookkeeping services in saudi arabia. - [Register Company for Foreigner](https://analytix.sa/register-company-in-saudi-for-foreigner/): Are you a foreigner and ready to start business in KSA? Resident or an Expat, you can start a business in Saudi Arabia with Analytix. - [Corporate Services in Saudi Arabia](https://analytix.sa/corporate-services-in-saudi-arabia/): Experience ease of doing business with our range of corporate services in KSA designed to help business entities manage compliance, tax, visas, work permits, etc - [Register Company in China](https://analytix.sa/register-company-in-china/): International Business Setup Register Company in China. Analytix offers expert assistance for cost-effective and compliant business setups in China Schedule... - [Career](https://analytix.sa/career/): You'll join a great place to build your skills and launch your career. - [Cookies Policy](https://analytix.sa/cookies-policy/): This Cookies Policy explains what Cookies are and how We use them. - [Terms and conditions](https://analytix.sa/terms-and-conditions/): These terms and conditions set forth the general terms and conditions of your use of the analytix.sa website & any of its related products & services. - [Business Setup in Saudi Arabia](https://analytix.sa/business-setup-in-saudi-arabia/): Explore the complete process of business setup in Saudi Arabia, covering MISA licensing, documentation, approvals, and legal compliance for foreign investors. - [Become our partner](https://analytix.sa/become-our-partner/): We like to collaborate to deliver unique and best-in-industry customer experiences. - [Dammam](https://analytix.sa/business-setup-and-support-in-dammam/): Our all-inclusive business support services in Saudi Arabia provide the assistance you need to launch and start your business in Dammam. - [Jeddah](https://analytix.sa/business-setup-and-support-in-jeddah/): Searching for a reliable provider to aid in setting up business in Jeddah? Our end-to-end services will be the help you to start your business in Jeddah. - [Blog](https://analytix.sa/blog/): Latest Blog from Analytix - [Media](https://analytix.sa/media/): See our latest media on events like IPA Event, Jubail Event, Makkah Event, IPA Cluster 4 Initiative, 15th Anniversary celebrations, etc - [Company Formation in Qatar](https://analytix.sa/company-formation-in-qatar/): As a reputable partner guiding entrepreneurs through the Qatari market, we offer customized solutions for setting up or growing their companies. --- ## Posts - [How AI and Smart Cities Are Driving Business Opportunities in KSA](https://analytix.sa/how-ai-and-smart-cities-drive-business-opportunities-in-ksa/): Explore how AI and smart cities unlock new business opportunities in Saudi Arabia’s fast-growing digital economy. - [Tax Considerations for Individuals and Investors Based in Saudi Arabia](https://analytix.sa/tax-considerations-for-individuals-and-investors/): Saudi Arabia’s economy is growing rapidly, attracting investors and professionals globally. As the Kingdom evolves under the Vision 2030 strategy,... - [How to Start a Sole Proprietorship in Saudi Arabia](https://analytix.sa/how-to-start-a-sole-proprietorship-in-saudi-arabia/): This blog provides everything necessary to understand, plan, and start a sole proprietorship in Saudi Arabia. - [Dos and Don’ts: Business Etiquette in Saudi Arabia](https://analytix.sa/business-etiquette-in-saudi-arabia/): Understanding the business etiquette in Saudi Arabia is crucial for any entrepreneur or investor who wants to succeed in the Kingdom. - [UAE vs KSA: Where Should Foreign Companies Expand First?](https://analytix.sa/uae-vs-ksa-where-should-foreign-companies-expand-first/): The Middle East is undergoing transformation and emerging as a central hub for global business setup, with Saudi Arabia and the UAE being equally attractive destinations. - [Cloud Computing Special Economic Zone](https://analytix.sa/cloud-computing-special-economic-zone/): The Cloud Computing Special Economic Zone is Saudi Arabia’s boldest initiative to speed up digital transformation as part of Vision 2030. - [Saudi Arabia’s Jubail Operates World's Largest Smart Irrigation System](https://analytix.sa/saudi-arabias-jubail-operates-worlds-largest-smart-irrigation-system/): RIYADH: Jubail Industrial City in Saudi Arabia has launched the world’s largest integrated smart irrigation network, according to the Royal... - [Special Integrated Logistics Zone in Saudi Arabia](https://analytix.sa/special-integrated-logistics-zone-in-saudi-arabia/): In this blog, we walk you through everything you need to know about Special Integrated Logistics Zone (SILZ). - [Saudi Arabia Uses AI and Immersive Tech to Boost Tourism Sector](https://analytix.sa/saudi-arabia-uses-ai-and-immersive-tech-to-boost-tourism-sector/): RIYADH: Saudi Arabia is rapidly advancing the adoption of Artificial Intelligence (AI) and immersive technologies, including augmented reality (AR) and... - [Jazan Special Economic Zone Business Setup](https://analytix.sa/jazan-special-economic-zone/): Continue reading our blog for a brief breakdown of the setup process, financial incentives, and reasons to opting for Al Jazan special economic zone - [New Property Law in Saudi Arabia: What Foreign Buyers Need to Know](https://analytix.sa/new-property-law-in-saudi-arabia/): Saudi Arabia has officially opened its doors to foreign property ownership with the new property law in Saudi Arabia. Read more. - [Saudi Arabia’s Non-Oil Revenue Reach $40bn in Q2, Equal to Oil Revenue](https://analytix.sa/saudi-arabias-non-oil-revenue-reach-40bn-in-q2-equal-to-oil-revenue/): RIYADH: Saudi Arabia’s non-oil revenue increased by 6. 6% in the second quarter of 2025 compared to the same quarter... - [Saudi Arabia Launched OpenAI Models with HUMAIN-Groq Partnership](https://analytix.sa/saudi-arabia-launched-openai-models-with-humain-groq-partnership/): RIYADH: Saudi Arabia has become the first nation in the region to implement OpenAI’s newest open-source models – gpt-oss-120B and... - [Saudi Arabia’s Non-Oil Sector Maintains Strong Growth Amid July PMI Slowdown](https://analytix.sa/saudi-arabias-non-oil-sector-maintains-strong-growth-amid-july-pmi-slowdown/): RIYADH: Saudi Arabia’s non-oil sector showed strong growth in the first half of 2025, even though the Purchasing Managers’ Index... - [The Complete Guide to Starting a Business in Saudi Arabia in 2025](https://analytix.sa/guide-on-starting-a-business-in-saudi-arabia/): A comprehensive guide on How Foreigners Can Set Up a Business in Saudi Arabia, from obtaining a MISA license - [Ras Al Khair Project in Saudi Arabia](https://analytix.sa/ras-al-khair-project-in-saudi-arabia/): In this blog, we will explore the advantages, investment opportunities, and insights for starting your business to Ras Al Khair Project in Saudi Arabia. - [King Abdullah Economic City](https://analytix.sa/king-abdullah-economic-city/): King Abdullah Economic City (KAEC) is a whole new city designed to attract new investment and diversify the economy from oil revenue. - [Challenges Faced by Startups in Saudi Arabia](https://analytix.sa/challenges-faced-by-startups-in-saudi-arabia/): Read this blog to know what are the real challenges faced by startups in saudi arabia and how to overcome these challenges. - [How to Build a Business Plan for Saudi Arabia Expansion That Works in 2025](https://analytix.sa/build-a-business-plan-for-saudi-arabia-expansion/): A carefully prepared business plan is important for companies looking for business setup in Saudi Arabia. Check how to build a business plan. - [Saudi Industrial, Logistics Sectors Add $263 Billion to Non-Oil GDP in 2024](https://analytix.sa/saudi-industrial-logistics-sectors-add-263-billion-to-non-oil-gdp-in-2024/): RIYADH: Saudi Arabia’s Industrial, Logistics Sectors added SR986 billion ($263 billion) to the non-oil GDP in 2024, representing 39% of... - [Thinking of Opening a Restaurant in Saudi Arabia? Read This First](https://analytix.sa/thinking-of-opening-a-restaurant-in-saudi-arabia/): If you are planning to start a restaurant in Saudi Arabia, read this blog to get a clear understanding of the latest trends and requirements. - [SDAIA and Shareek Partner to Boost AI and Digital Transformation](https://analytix.sa/sdaia-and-shareek-partner-to-boost-ai-and-digital-transformation/): RIYADH: The Saudi Data and Artificial Intelligence Authority (SDAIA) entered into an agreement with Shareek, Saudi Arabia’s Private Sector Partnership... - [Saudi Arabia issues 1,346 Industrial Licenses in 2024](https://analytix.sa/saudi-arabia-issues-1346-industrial-licenses-in-2024/): RIYADH: Saudi Arabia granted 1,346 new Industrial Licenses in 2024, bringing in over SR50 billion ($13. 3 billion) in new... - [New Saudi Arabia Real Estate Law allows Foreigners to own property](https://analytix.sa/new-saudi-arabia-real-estate-law-allows-foreigners-to-own-property/): RIYADH: Saudi Arabia will now permit foreigners to own property in certain areas from January 2026, after a landmark decision... - [Saudi Arabian General Investment Authority (SAGIA)](https://analytix.sa/saudi-arabian-general-investment-authority-sagia/): In this blog, you will get an insight into its history, objectives, key roles of Saudi Arabian General Investment Authority (SAGIA). - [Saudi Arabia introduces Skill-Based Work Permits to Attract Global Talent](https://analytix.sa/saudi-arabia-introduces-skill-based-work-permits-to-attract-global-talent/): RIYADH: Saudi Arabia introduces a new permit system focused on skills to attract foreign talent and align foreign workers with... - [How to set up a Renewable Energy Business in Saudi Arabia](https://analytix.sa/renewable-energy-business-in-saudi-arabia/): Setting up a renewable energy business in Saudi Arabia offers immense opportunities for both local and international investors. Check how! - [New Company Launched to Develop and Run Expo 2030 Riyadh](https://analytix.sa/new-company-launched-to-develop-and-run-expo-2030-riyadh/): Saudi Arabia’s Public Investment Fund (PIF) has launched a new company, Expo 2030 Riyadh C - [How to start a Cafe and Restaurant Business in Saudi Arabia](https://analytix.sa/start-a-cafe-and-restaurant-business-in-saudi-arabia/): If you are thinking of setting up a restaurant business in Saudi Arabia, read our blog to learn more about the process and its benefits. - [Robotics Industry in Saudi Arabia](https://analytix.sa/robotics-industry-in-saudi-arabia/): Saudi Arabia is quickly becoming a major technology hub in the Middle East, with robotics playing a vital role in economic diversification. - [Saudi Arabia Record 13% Rise in Container Volume in May](https://analytix.sa/saudi-arabia-record-13-rise-in-container-volume-in-may/): RIYADH: Saudi Arabia’s seaports saw a significant increase in May 2025, managing 720,684 twenty-foot equivalent units (TEUs), a 13% rise... - [Innovative & Tech Driven Startups in KSA: Welcoming Entrepreneurs](https://analytix.sa/innovative-tech-driven-startups-in-ksa/): In this blog, we will look at the rapid growth of tech-driven start-ups in Saudi Arabia, major sectors, challenges and opportunities for entrepreneurs - [Differences Between Apostille and Attestation](https://analytix.sa/differences-between-apostille-and-attestation/): In this blog, we will discuss the differences between Apostille and Attestation based on their features, processes and where they will be required. - [How 'Made in KSA' is Reshaping Business and Industry in Saudi Arabia](https://analytix.sa/how-made-in-ksa-is-reshaping-business-and-industry/): Saudi Arabia’s “Made in Saudi Arabia” initiative is a strategic program aligned with Saudi Vision 2030, aiming to restructure the economy. - [Saudi HR Ministry unveils New Penalties for Labour Law Violations](https://analytix.sa/saudi-hr-ministry-unveils-new-penalties-for-labour-law-violations/): RIYADH: Saudi Arabia’s Ministry of Human Resources and Social Development has recommended new penalties for offences against Labour Law and... - [What are the Documents Required for Saudi Visa Stamping?](https://analytix.sa/documents-required-for-saudi-visa-stamping/): In this blog, we’ll explain clearly the steps involved in Saudi visa stamping and answer frequently asked questions - [Business Incubators and Coworking Spaces in Saudi Arabia](https://analytix.sa/business-incubators-and-coworking-spaces-in-saudi-arabia/): Want to know what business incubators and coworking spaces are in Saudi Arabia and how it helps businesses thrive in the developing economy - [Why SABIC is the Key to Saudi Arabia’s Economic Transformation - and What It Means for Businesses?](https://analytix.sa/sabic/): SABIC produces a wide range of products which are important for industries such as automotive, construction, electronics, agriculture, packaging, and healthcare - [Saudi-US Forum Fuels Kingdom’s Economic Transformation](https://analytix.sa/saudi-us-forum-fuels-kingdoms-economic-transformation/): RIYADH: The Saudi-US Investment Forum, took place on May 13, 2025, making it a key milestone in the growing economic... - [Jeddah Launches 29 Real Estate Projects to Boost Investment](https://analytix.sa/jeddah-launches-29-real-estate-projects-to-boost-investment/): RIYADH: Jeddah Municipality announced 29 new real estate investment projects, totaling over 1. 4 million square meters, aimed at commercial,... - [Saudi Insights: Saudi Arabia Net FDI Climbs 26% in Q4 2024](https://analytix.sa/saudi-insights-saudi-arabia-net-fdi-climbs-26-in-q4-2024/): RIYADH: Saudi Arabia’s Net foreign direct investment (FDI) reached SR22. 1 billion ($5. 89 billion) in the fourth quarter of... - [How to Use Muqeem in 2025 – A Simple Guide for Foreign Investors](https://analytix.sa/what-is-the-muqeem-portal-and-how-to-register-on-it/): This blog will guide you about the Muqeem portal, explain its importance in managing residency and visa services, and give insights on how to register on this platform in 2025. - [Expert and Successful Strategies to Grow a Successful Business in Saudi Arabia](https://analytix.sa/strategies-to-grow-a-successful-business-in-ksa/): Are you looking for proven strategies and expert assistance to grow your business in Saudi Arabia? Are you one among many businesses in KSA struggling to compete in the tough business landscape of the country? - [Saudi Arabia Achieves Highest Tourism Revenue Growth, Leads in G20 Nations](https://analytix.sa/saudi-arabia-achieves-highest-tourism-revenue-growth-leads-in-g20-nations/): RIYADH: Saudi Arabia’s tourism sector hit a new record in 2024 as international tourism revenue rose by 148% compared to... - [Saudi Arabia Ranks Top in Regional and 6th in G20 for Geospatial Infrastructure](https://analytix.sa/saudi-arabia-ranks-top-in-regional-and-6th-in-g20-for-geospatial-infrastructure/): RIYADH: Saudi Arabia has made notable progress in geospatial knowledge infrastructure, by climbing 23 places from 32nd place in 2022... - [One Mistake in Payroll Can Cost You – Use Mudad to Avoid It](https://analytix.sa/mudad-compliance-system-and-its-registration-process/): Every company should understand the Mudad portal and its registration process because doing so protects compliance and prevents financial penalties. - [QIWA: A Must-Know Portal for Foreign Investors for Managing Employees in Saudi Arabia](https://analytix.sa/qiwa-in-saudi-arabia/): In this blog, we will go through what QIWA in Saudi Arabia is, its benefits and how it can simplify your business operations. - [Saudi Arabia sees 89% rise in Licensed Tourism Hospitality Facilities](https://analytix.sa/saudi-arabia-sees-89-rise-in-licensed-tourism-hospitality-facilities/): RIYADH: Saudi Arabia’s tourism and hospitality sector experienced a significant growth in 2024, with the number of licensed hospitality facilities... - [New Ultimate Beneficial Ownership Rules in Saudi Arabia - Is Your Business Ready or at Risk?](https://analytix.sa/ultimate-beneficial-ownership-ubo-rules-saudi-arabia/): Saudi Arabia has taken a major step towards improving corporate transparency by introducing the new Ultimate Beneficial Ownership (UBO) Rules. - [Exit-Entry/Re-Entry Permit in Saudi Arabia](https://analytix.sa/exit-entry-re-entry-permit-in-saudi-arabia/): This blog covers what an Exit Entry/Re-Entry Permit in KSA is, who requires the permit, the application process, and considerations to take note of. - [National Address Registration Saudi Arabia - A Comprehensive Guide](https://analytix.sa/national-address-registration-saudi-arabia/): National Address Registration Saudi Arabia is one of the many government initiatives aimed at improving the efficiency of postal & delivery services. - [Saudi Insights: Riyadh Municipality Launches New Investment Opportunity in Key Sectors](https://analytix.sa/saudi-insights-riyadh-municipality-launches-new-investment-opportunity-in-key-sectors/): Riyadh Municipality introduced 20 new investment opportunities for 2025 for development in commercial, residential, retail, industrial and leisure sectors - [Top Cities to Start a Small Business in Saudi Arabia](https://analytix.sa/top-cities-to-start-a-small-business-in-saudi-arabia/): In this blog, we've discussed the top cities to start a small business in Saudi Arabia which provide excellent growth opportunities. - [Saudi Insights: Saudi Arabia’s Industrial Growth Rises in January, Fueled by Manufacturing](https://analytix.sa/saudi-insights-saudi-arabias-industrial-growth-rises-in-january-fueled-by-manufacturing/): Saudi Arabia’s industrial production index (IPI) showed a year-on-year growth of 1.3% in January, owing to the manufacturing and waste management growth, according to the General Authority for Statistics. - [BSF & Diriyah Co. Sign $1.6bn Deal to Develop Wadi Safar Project](https://analytix.sa/bsf-diriyah-co-sign-1-6bn-deal-to-develop-wadi-safar-project/): Banque Saudi Fransi (BSF) has signed a financing agreement of SR6 billion ($1.6 billion) with Diriyah Co. to help build the Wadi Safar project. - [How to Maximise Tax Benefits As An Investor in Saudi Arabia](https://analytix.sa/maximise-tax-benefits-as-an-investor-in-saudi-arabia/): In this blog, we discuss how best an investor can take advantage of the tax benefit opportunities while doing business in Saudi Arabia. - [Saudi Arabia’s Labour Market Thrives as Global Interest Grows](https://analytix.sa/saudi-arabias-labour-market-thrives-as-global-interest-grows/): Saudi Arabia is experiencing a significant transformation as it reduces its reliance on oil and expands into sectors including construction, green energy, and technology. - [Printing and Publishing License in Saudi Arabia](https://analytix.sa/printing-and-publishing-license-in-saudi-arabia/): Planning to start a printing and publishing business in KSA? Read the blog to get idea regarding the printing and publishing license in Saudi Arabia. - [Analytix Arabia Expands Services to Support Businesses in Saudi Arabia](https://analytix.sa/analytix-arabia-expands-services-to-support-businesses-in-saudi-arabia/): Analytix Arabia unveils Business Incubation, Co-working Spaces, and Legal Consulting in Riyadh, supporting startups and businesses in Saudi Arabia. - [How to Start a Business in Saudi Arabia from the UK](https://analytix.sa/start-a-business-in-saudi-arabia-from-the-uk/): Looking to start a business in saudi arabia from the UK? Then this blog is for you! - [Trade License Renewal in Saudi Arabia](https://analytix.sa/trade-license-renewal-in-saudi-arabia/): Planning to renew your trade license in Saudi Arabia, but confused how to renew by being legally compliant? Don’t worry, read this blog to know complete details regarding the renewal process. - [LEAP 2025 Showcases Next-Gen AI, Smart Lenses, and Wearable Tech](https://analytix.sa/leap-2025-showcases-next-gen-ai-smart-lenses-and-wearable-tech/): LEAP 2025 in Riyadh highlights AI, smart contact lenses, and wearable technology, shaping the future with cutting-edge innovations. - [Saudi Arabia is set to host LEAP 2025, a Landmark Event in Tech Transformation](https://analytix.sa/saudi-arabia-is-set-to-host-leap-2025-a-landmark-event-in-tech-transformation/): Join LEAP 2025 in Riyadh on Feb 8, the top tech event driving AI, cybersecurity, and innovation, supporting Vision 2030 with top brands and speakers. - [Saudi Crown Price introduces ‘King Salman Automotive Cluster’ at KAEC ](https://analytix.sa/saudi-crown-price-introduces-king-salman-automotive-cluster-at-kaec/): King Salman Automotive Cluster in KAEC boosts Saudi Arabia’s auto industry, creating jobs, increasing exports, and advancing sustainable transportation. - [Saudi Minister Visits India to boost Industrial and Mining ties ](https://analytix.sa/saudi-minister-visits-india-to-boost-industrial-and-mining-ties/): Saudi Arabia and India strengthen trade ties, focusing on petrochemicals, mining, and automotive collaborations under Saudi Vision 2030 strategy. - [Umm Al Qura announces IPO to finance $26bn Masar project in Makkah](https://analytix.sa/umm-al-qura-ipo-to-finance-26bn-masar-project-in-makkah/): Umm Al Qura IPO to fund Masar Destination in Makkah, a $26.6B project boosting hospitality, retail, and infrastructure under Saudi Vision 2030. - [Saudi Arabia’s Real Estate set for growth with billions in new projects](https://analytix.sa/saudi-arabias-real-estate-set-for-growth-with-billions-in-new-projects/): Saudi Arabia’s real estate sector is booming with major projects, hospitality expansion, and foreign investment opportunities. - [Agriculture License in Saudi Arabia](https://analytix.sa/agriculture-license-in-saudi-arabia/): Read the blog and get to know the requirements, process, and benefits of acquiring an agriculture license in the Saudi Arabia. - [Audiovisual Media License in Saudi Arabia](https://analytix.sa/audiovisual-media-license-in-saudi-arabia/): In this blog, let’s dive into the importance of the Audiovisual Media License in KSA, its requirements, and steps to obtain them. - [Consulting License in Saudi Arabia](https://analytix.sa/consulting-license-in-saudi-arabia/): Read our blog and get a comprehensive idea regarding the requirements, process, of getting consulting license in Saudi Arabia. - [Saudi Arabia Secures Historic Opportunity to Host FIFA World Cup 2034 ](https://analytix.sa/saudi-secures-opportunity-to-host-world-cup-2034/): The Kingdom of Saudi Arabia is all set to host the FIFA World Cup 2034. The decision brings the world’s largest sporting event back to Gulf region. - [Saudi Arabia allows foreign investment in Makkah and Madinah Real Estate](https://analytix.sa/saudi-arabia-allows-foreign-investment-in-makkah-and-madinah-real-estate/): Saudi Arabia now allows foreign investment in real estate companies especially those with properties in Makkah and Madinah. - [Saudi Arabia's grand entry to the space sector with Neo Space Group](https://analytix.sa/saudi-arabias-grand-entry-to-the-space-sector-with-neo-space-group/): Moving way ahead in the global space economy, the Kingdom of Saudi Arabia has recently launched Neo Space Group, a new initiative by Public Investment Fund (PIF). - [Start an Event Management Business in Saudi Arabia](https://analytix.sa/start-an-event-management-business-in-saudi-arabia/): Struggling to start an event management business in Saudi Arabia? Read the blog to get a comprehensive idea regarding the same. - [Key Legal Requirements for UAE Companies Planning to Enter Saudi Market](https://analytix.sa/requirements-for-uae-companies-planning-to-enter-saudi/): Are you a UAE national planning to enter the vibrant market of Saudi Arabia, as part of your business expansion processes beyond borders? - [Expanding Your Business to the Middle East: Opportunities in UAE v/s Saudi Arabia](https://analytix.sa/opportunities-in-uae-v-s-saudi-arabia/): The guide particularly focuses on prime factors, the size and growth potential of markets, taxation, ease in setting up business in saudi arabia and uae - [How to Get an Entertainment License in Saudi Arabia](https://analytix.sa/how-to-get-an-entertainment-license-in-saudi-arabia/): In this blog, we will discuss a detailed breakdown of the process of getting entertainment license in saudi arabia - [Trends in KSA Healthcare Sector](https://analytix.sa/trends-in-ksa-healthcare/): This blog explores the key trends that are revolutionizing the KSA healthcare market. - [FIFA World Cup 2034 to Boost Saudi Arabia’s Stock Market](https://analytix.sa/fifa-world-cup-2034-to-boost-saudi-arabias-stock-market/): Saudi Arabia’s hosting of the FIFA World Cup 2034 will have a positive effect on the economy and stock market, according to a report by SNB Capital. - [Saudi Arabia launches duty exemptions on Industrial inputs to boost exports](https://analytix.sa/saudi-arabia-launches-duty-exemptions-on-industrial-inputs-to-boost-exports/): Saudi Arabia has launched a new service ‘Exemption for Export,’ to boost its industrial sector’s global competitiveness. - [Saudi Insights: Saudi Arabia celebrates after being named as host for FIFA World Cup 2034](https://analytix.sa/saudi-insights-saudi-arabia-celebrates-after-being-named-as-host-for-fifa-world-cup-2034/): Saudi Arabia is celebrating its win as the FIFA World Cup 2034 host by conducting events and festivities nationwide. - [Saudi Arabia announced as Host for 2034 FIFA World Cup](https://analytix.sa/saudi-arabia-announced-as-host-for-2034-fifa-world-cup/): FIFA has officially announced that Saudi Arabia will host 2034 World Cup, bringing excitement throughout the kingdom. - [Saudi Mining and Industrial Sectors Open Groundbreaking Opportunities for Entrepreneurs](https://analytix.sa/saudi-mining-and-industrial-sectors-open-opportunities/): Saudi Arabia has grown itself to be the land of opportunity for entrepreneurs to invest where the expansion of the industrial and mining sectors is set to revolutionize the economy. - [Women Entrepreneurs Reshaping Saudi Business Landscape](https://analytix.sa/women-entrepreneurs-reshaping-saudi-business-landscape/): Are you a women entrepreneur planning to start a business in Saudi Arabia? Then this blog is for you. - [Saudi Arabia raises R&D spending to $ 6 billion in 2023 to push Vision 2030](https://analytix.sa/saudi-arabia-raises-rd-spending-to-6-billion-in-2023-to-push-vision-2030/): In 2023, Saudi Arabia rose its research and development (R&D) spending to SR 22.61 billion ($ 6.02 billion), an increase of 17.4% from the last year. - [Education Sector In Saudi Arabia](https://analytix.sa/education-sector-in-saudi-arabia/): This blog helps you to know about the important government policies and initiatives issued to boost the education sector in KSA - [Riyadh Metro’s first phase of operations to begin on November 27](https://analytix.sa/riyadh-metros-first-phase-of-operations-to-begin-on-november-27/): Riyadh Metro Phase 1 opens on Nov 27, 2024, with 176 km of driverless lines, boosting sustainability and urban growth for Vision 2030. - [Saudi Insights: Saudi Arabia's Rapid Growth in Energy, Construction, Business, and Real Estate Booming](https://analytix.sa/saudi-insights-saudi-arabias-rapid-growth-in-energy-construction-business-and-real-estate-booming/): Learn about Saudi Arabia's strides in energy, construction, and commerce, driving Vision 2030 goals with record-breaking developments. - [Saudi Arabia targets 450,000 new jobs in Entertainment Sector by 2030](https://analytix.sa/saudi-arabia-targets-450000-new-jobs-in-entertainment-sector-by-2030/): RIYADH: Saudi Arabia’s Entertainment sector is set to generate 450,000 jobs and contribute 4. 2% to the country’s GDP by... - [Professional License in Saudi Arabia](https://analytix.sa/professional-license-in-saudi-arabia/): A professional license in Saudi Arabia helps professionals like teachers to migrate & share their knowledge & expertise for the development of KSA. - [World’s largest green hydrogen plant set to launch by 2026 in Saudi Arabia](https://analytix.sa/worlds-largest-green-hydrogen-plant-set-to-launch-by-2026-in-saudi-arabia/): RIYADH: Saudi Arabia’s NEOM Green Hydrogen Company (NGHC) is advancing rapidly on the development of the world’s largest green hydrogen... - [Saudi Arabia plans huge $100 billion investment build Global AI Powerhouse](https://analytix.sa/saudi-arabia-plans-100-billion-investment-build-global-ai-powerhouse/): ‘Project Transcendence’ is something unprecedented for Saudi Arabia, backed by an astonishing amount of investment, at $100 billion. - [Saudi Arabia Hosts 184 Foreign Company Headquarters in 2024](https://analytix.sa/saudi-arabia-hosts-184-foreign-company-headquarters-in-2024/): The recent data on the country being a platform for attracting 184 foreign company headquarters is an evidence of the growth of Saudi Arabia as a world business hub. - [Saudi Insights:  Saudi Arabia's Tourism and Economic Growth: Key Developments and Achievements](https://analytix.sa/saudi-insights-saudi-arabias-tourism-and-economic-growth-key-developments-and-achievements/): Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from... - [Qiddiya sets up executive Office to boost engagement with business partners](https://analytix.sa/qiddiya-sets-up-executive-office-to-boost-engagement-with-business-partners/): iddiya launches 'Spirit of Play' to enhance partnerships, redefine visitor experiences, and drive Saudi tourism under Vision 2030. - [Saudi Aramco announces net profit of $ 27.52 bn in Q3](https://analytix.sa/saudi-aramco-announces-net-profit-of-27-52-bn-in-q3/): Aramco's Q3 2024 profit hits $27.52B, 15.4% lower YoY. Investments in solar projects show commitment to clean energy and increased capacity. - [How to Start a Business in Riyadh?](https://analytix.sa/how-to-start-a-business-in-riyadh/): Planning to start a business in Riyadh? This guide will help you get an idea regarding the business setup in Riyadh and how to get your licenses. - [Red Sea Global raises $1.5 bn funding for AMAALA Infrastructure Project](https://analytix.sa/red-sea-global-raises-1-5-bn-funding-for-amaala-infrastructure-project/): Red Sea Global (RSG) secured $ 1.5 billion for funding the AMAALA Infrastructure project which will transform Saudi Arabia’s Red Sea coastline into a luxury wellness destination. - [Inter Milan breaks new ground as first club to secure Saudi Investment License](https://analytix.sa/inter-milan-secured-saudi-investment-license/): Inter Milan has now been granted an investment license from Saudi Arabia’s Ministry of Investment (MISA). - [Saudi Arabia moves closer to a Cashless Future with 98% contactless payment ](https://analytix.sa/saudi-arabia-moves-closer-to-a-cashless-future-with-98-contactless-payment/): Saudi Arabia nears cashless economy milestone with 98% contactless transactions, driven by Visa's innovations and Vision 2030's digital goals. - [Saudi Insights: IMF forecasts 4.6% growth for Saudi economy, highest among GCC by 2025](https://analytix.sa/saudi-insights-imf-forecasts-4-6-growth-for-saudi-economy-highest-among-gcc-by-2025/): IMF forecasts Saudi Arabia's economy to grow 4.6% by 2025, the highest in the GCC, boosted by Vision 2030 and non-oil sector expansion efforts. - [Saudi Arabia’s Non-oil exports for August grew by 7.5% ](https://analytix.sa/saudi-arabias-non-oil-exports-for-august-grew-by-7-5/): Saudi non-oil exports reached SR 27.52B, up 7.5% in August 2024, supporting Vision 2030’s goal to diversify the economy beyond oil. - [$ 13.3 bn of investments deals announced by Saudi Arabia at Global Health Exhibition](https://analytix.sa/investments-announced-by-saudi-arabia-at-global-health-exhibition/): SR 50bn in healthcare deals announced, including hospital expansions, pharma manufacturing, and digital innovations to boost Saudi Vision 2030. - [Saudi Insights: Residential Growth, Green Investments, and Global Industrial Partnerships Drive Vision 2030](https://analytix.sa/saudi-insights-residential-growth-green-investments-and-global-industrial-partnerships-drive-vision-2030/): Get the latest Saudi news on real estate growth, green investments, Saudi-Italy ties, and Riyadh's urban development with South Korea. - [World Bank predicts Saudi Arabia’s economy to rise to 4.9% in 2025](https://analytix.sa/world-bank-predicts-saudi-arabias-economy-to-rise-to-4-9-in-2025/): Saudi Arabia’s economy is projected to grow by 1.6% in 2023 and 4.9% in 2025, with inflation staying low at 2.1% in 2024 and 2.3% in 2025. - [Saudi-South African Business Forum signs $ 25m Credit deals to support exporters](https://analytix.sa/saudi-south-african-business-forum-signs-25m-credit-deals-to-support-exporters/): At the Saudi-South African Forum, a $25M deal was signed to boost Saudi trade, focusing on mining and economic partnerships. - [Saudi Arabia desires to become Global Logistics Hub status by 2030 through tech investments  ](https://analytix.sa/saudi-arabia-desires-to-become-global-logistics-hub-status-by-2030-through-tech-investments/): Saudi Arabia wishes to become a Global Logistics Hub status by 2030 by investing heavily, strategically in technology and infrastructure. - [Red Sea Project In Saudi Arabia: Opportunities for Global Companies](https://analytix.sa/red-sea-project-in-saudi-arabia/): This blog will discuss in detail about the investment opportunities in the Red Sea project in Saudi Arabia across various sectors. - [Guide to Import Goods to Saudi Arabia](https://analytix.sa/guide-to-import-goods-to-saudi-arabia/): This blog is a guide to import goods to Saudi Arabia which will benefit individuals wishing to start their import business in the Kingdom. - [Business Visa in Saudi Arabia](https://analytix.sa/business-visa-in-saudi-arabia/): This blog will guide you on how to apply for a business visa in Saudi Arabia and how it helps you ease your business activities in the country. - [Saudi Expat Remittances grew 10%, totaling $ 3.16 bn](https://analytix.sa/saudi-expat-remittances-grew-10-totaling-3-16-bn/): The Saudi Central Bank (SAMA) reported expatriate remittances from Saudi Arabia grew by 10% in August 2024, reaching a total of SR11.86 billion ($3.16 billion). - [Saudi Arabia offers a share of $ 200 bn to Pakistan in annual construction projects](https://analytix.sa/saudi-arabia-offers-a-share-of-200-bn-to-pakistan-in-annual-construction-projects/): Saudi Arabia to allocate $200B in contracts to Pakistan, strengthening trade and boosting Pakistan's economy amid financial struggles. - [Saudi Insights: Riyadh Forum set to boost SMEs and Startups in Saudi Arabia](https://analytix.sa/saudi-insights-riyadh-forum-set-to-boost-smes-and-startups-in-saudi-arabia/): Discover Saudi Arabia's latest tech, tourism, SME, and mining updates, including $24.5B tourist spending and new startup initiatives. - [Saudi Arabia plans to make huge investment of $1tn in non-oil economy by 2030](https://analytix.sa/saudi-to-make-huge-investment-in-non-oil-economy/): Saudi Arabia plans to invest $1 trillion in its non-oil economy, which really seems to be shifting this nation from oil-based income model. - [Investment Law in Saudi Arabia: Top 20 FAQs Answered for Investors](https://analytix.sa/faqs-on-investment-law-in-saudi-arabia/): We have prepared the top 20 FAQs relating to investment law in Saudi Arabia & the answers which can help you understand the law better - [Saudi Food Sector: Set up Cloud Kitchen in Saudi Arabia](https://analytix.sa/set-up-cloud-kitchen-in-saudi-arabia/): This blog includes how to set up cloud kitchen in Saudi Arabia and how it will benefit the Saudi food sector. - [Global Cybersecurity Forum calls for collective efforts to protect Digital Future ](https://analytix.sa/global-cybersecurity-forum-calls-for-collective-efforts-to-protect-digital-future/): The Riyadh Global Cybersecurity Forum stresses the importance of global cooperation to tackle rising cybercrime and secure digital futures. - [Moody Predicts 5.5% surge in Saudi Arabia’s non-oil GDP from 2025 to 2027 ](https://analytix.sa/moody-predicts-5-5-surge-in-saudi-arabias-non-oil-gdp-from-2025-to-2027/): Moody's reports Saudi Arabia's non-oil GDP will grow 5 by 2027, supported by Vision 2030. Risks from oil prices remain, but PIF offers stability. - [SPARK attracts $ 3 bn investment from over 60 investors  ](https://analytix.sa/spark-attracts-3-bn-investment-from-over-60-investors/): Over 60 investors pledge $3 billion to King Salman Energy Park, aiming to establish a global energy hub and enhance economic growth. - [Saudi Insights: Qiddiya Dragon Ball Theme Park Project awarded to US firm](https://analytix.sa/saudi-insights-qiddiya-dragon-ball-theme-park-project-awarded-to-us-firm/): Saudi Arabia boosts industrial ties with the US, invests in tourism, launches Qiddiya Dragon Ball park, and showcases AI at the UN. - [What Makes PRO and GRO Services An Essential Element of Foreign Business Growth in Saudi Arabia](https://analytix.sa/importance-of-gro-and-pro-services-in-saudi-arabia/): This blog includes the importance of GRO and PRO services in Saudi Arabia and how it helps the foreign businesses entering the country. - [MoA and AoA Requirements in Saudi Arabia](https://analytix.sa/moa-and-aoa-requirements-in-saudi-arabia/): In this blog post, let’s look in detail MoA and AoA requirements in Saudi Arabia and why they are crucial for the incorporation of foreign business - [Saudi Cement sales up by 2%, reaching 10.85 m tonnes](https://analytix.sa/saudi-cement-sales-up-by-2-reaching-10-85-m-tonnes/): Cement sales in Saudi Arabia in Q2 2024 went up to 10.85 million tonnes, with 95% sold domestically while the 5% exported. - [Ajman’s exports to Saudi Arabia increase by 29%](https://analytix.sa/ajmans-exports-to-saudi-arabia-increase-by-29/): Ajman’s exports to Saudi Arabia rose by 29% in 2023, totalling 859.8 million dirhams ($ 234 million) - [Saudi Arabia Witnesses Huge Rise in Tourist Spending](https://analytix.sa/saudi-arabia-witnesses-huge-rise-in-tourist-spending/): Saudi Arabia has recently reported a tremendous growth in the tourism spending, which is giving a new face lift to Saudi Arabia on the map of International tourism. - [Saudi Insights: Fireworks lit up Saudi Skies in honour of 94th National Day ](https://analytix.sa/saudi-insights-fireworks-lit-up-saudi-skies-in-honour-of-94th-national-day/): Saudi Arabia celebrates National Day with fireworks, highlights female entrepreneurship, launches AI training, and sees a surge in tourism - [Riyadh to be Among Top 15 Fastest Growing Cities by 2033](https://analytix.sa/riyadh-to-be-among-top-15-fastest-growing-cities-by-2033/): In this blog, let’s explore the key factors and initiatives that are driving rapid development in Riyadh and how it will benefit both its residents and visitors alike. - [Riyadh dominates Saudi Arabia’s construction market](https://analytix.sa/riyadh-dominates-saudi-arabia-construction-market/): Riyadh construction market has strongly tied its growth with the strategic Vision 2030 program, which has been designed to diversify the revenue for the country. - [Saudi Arabia's Tax Rules for Regional Headquarters (RHQ)](https://analytix.sa/saudi-arabia-tax-rules-for-regional-headquarters/): The issuance of the Regional Headquarters Tax Rules will unleash an attractive financial ecosystem to global businesses towards the Kingdom - [Demand for Saudi Mining Licences Rises Sharply](https://analytix.sa/demand-for-saudi-mining-license-rises-sharply/): Are you planning to start a mining business in Saudi Arabia? We can see that the demand for Saudi Mining License Rises Sharply. - [Saudi Arabia Sets Up New Business Park in Riyadh](https://analytix.sa/saudi-arabia-sets-up-new-business-park-in-riyadh/): Saudi Arabia Sets Up a New Business Park in Riyadh known as Boulevard Business Park. - [How to Overcome Bank Account Setup Delays in Saudi Arabia ?](https://analytix.sa/overcome-bank-account-setup-delays-in-saudi-arabia/): In this blog, we will make you aware of the common causes of delay to set up a bank account, and the tips to overcome these delays. - [2024 sees Saudi Investment Licenses Doubled for Egyptian firms  ](https://analytix.sa/2024-sees-saudi-investment-licenses-doubled-for-egyptian-firms/): Saudi Arabia grants double investment licenses to Egyptian firms, creating 80,000 jobs and strengthening economic ties between both nations. - [Red Sea Global awards Saudi AMAALA project with $ 6.13 bn in contracts ](https://analytix.sa/red-sea-global-awards-saudi-amaala-project-with-6-13-bn-in-contracts/): AMAALA, a project in Saudi Arabia, being developed by Read Sea Global (RSG), has achieved great achievement with over 600 contracts. - [Saudi Insights: Saudi Industry Ministry holds discussion with Heads of Chinese lithium, copper mining firms ](https://analytix.sa/saudi-insights-saudi-industry-ministry-holds-discussion-with-heads-of-chinese-lithium-copper-mining-firms/): Our Saudi Round-Up series provides insight into key sector advancements in the Kingdom from September 1 to 7, 2024. - [Why Are Asian Companies Expanding to Saudi Arabia?](https://analytix.sa/why-are-asian-companies-expanding-to-saudi-arabia/): In this blog, let's look in detail at why Asian companies are expanding to Saudi Arabia, and what makes it a top choice. - [Riyadh Expo 2030](https://analytix.sa/riyadh-expo-2030/): Read the blog to know more about Riyad Expo 2030 and how it would be beneficial for you as a business official. - [Hundreds of companies consider Saudi Arabia](https://analytix.sa/hundreds-of-companies-consider-saudi-arabia/): According to a survey, more than 660 companies are planning to expand their businesses to Saudi Arabia. - [Saudi Automotive Industry set for Boost from high-level East Asia visit ](https://analytix.sa/saudi-automotive-industry-set-for-boost/): Saudi Arabia’s automotive industry could receive a huge boost after a visit to East Asia by the Industry and Mineral Resources Minister, Bandar Alkhorayef. - [How to Open a Corporate Bank Account in Saudi Arabia](https://analytix.sa/open-a-business-bank-account-in-saudi-arabia/): Read this blog and get a comprehensive idea on how to open a corporate bank account in Saudi Arabia for foreign companies. - [Start a Sports Business in Saudi Arabia](https://analytix.sa/start-a-sports-business-in-saudi-arabia/): In this blog, we'll discuss how to start a sports business in Saudi Arabia - [New Business Council formed by Saudi and Poland to strengthen economic ties](https://analytix.sa/new-business-council-formed-by-saudi-and-poland-to-strengthen-economic-ties/): Saudi Arabia and Poland have created a new joint business council for the term 2024-2028 to boost the commerce and investment between the two countries. - [Saudi Insights: Real Estate transaction in Saudi Arabia rise to 38% in H1, reaching $ 34 bn ](https://analytix.sa/saudi-insights-real-estate-transaction-in-saudi-arabia-rise-to-38-in-h1-reaching-34-bn/): Our Saudi Round-Up series provides insight into key sector advancements in the Kingdom from August 26 to 31, 2024. - [Saudi Cybersecurity Market rises to 10.8% to $ 3.55 bn in 2023 ](https://analytix.sa/saudi-cybersecurity-market-rises-to-10-8-to-3-55-bn-in-2023/): In the year 2023, Saudi Arabia’s market size of cybersecurity increased by 10.8%, reaching $ 3.55 billion (SR 13.3 billion). - [Difference Between Branch and Subsidiary](https://analytix.sa/difference-between-branch-and-subsidiary/): In this blog, we’ll dive deeper into the key differences between a branch and a subsidiary, and the major challenges associated with each one. - [Saudi Arabia Premium Residency and UAE Golden Visa: Which is better for Expats?](https://analytix.sa/saudi-arabia-premium-residency-vs-uae-golden-visa/): In this blog, we are going to discuss the Golden Visa of UAE and Premium Residency of Saudi Arabia and which is better for expats - [Saudi Insights: New Investment Law introduced in Saudi Arabia ](https://analytix.sa/saudi-insights-new-investment-law-introduced-in-saudi-arabia/): Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. From 18th August to 25th August 2024 - [Top global designing and engineering firms roped in for the development of the new Riyadh Airport](https://analytix.sa/top-global-designing-and-engineering-firms-roped-in-for-the-development-of-the-new-riyadh-airport/): Global firms will transform King Salman Airport into a hub for 120M annual passengers, boosting Saudi Arabia's economy and job creation. - [Saudi Insights: $ 3.46 trillion worth of contracts awarded for the development of road network in Riyadh](https://analytix.sa/saudi-insights-3-46-trillion-worth-of-contracts-awarded-for-the-development-of-road-network-in-riyadh/): Saudi Arabia plans a $1 trillion investment by 2030, enhancing infrastructure, healthcare, and digital experiences for citizens. - [Opportunities for IT Sector in Saudi Arabia in 2024](https://analytix.sa/opportunities-for-it-sector-in-saudi-arabia/): In this blog, we'll discuss what are the future opportunities available for IT sector in Saudi Arabia. - [Future of Business in Saudi Arabia](https://analytix.sa/future-of-business-in-saudi-arabia/): In this blog, we will help you take you through our assumptions on what is the future of business in Saudi Arabia. - [Saudi Arabia’s New Investment Law to support foreign investors  ](https://analytix.sa/saudi-arabias-new-investment-law-to-support-foreign-investors/): New investment law enhances investor rights, simplifies processes, and boosts transparency as part of Vision 2030 goals. - [Saudi Insights: Saudi Arabia leads in the Employment Growth Index among 67 countries ](https://analytix.sa/saudi-insights-saudi-arabia-leads-in-the-employment-growth-index-among-67-countries/): Saudi Arabia sees 153K new jobs, Red Sea Fund opens, and 16M visitors to entertainment events in Q2 2024. - [Saudi Arabia opens bid for seven mining exploration licenses ](https://analytix.sa/saudi-arabia-opens-bid-for-seven-mining-exploration-licenses/): Saudi Arabia's new mining licenses cover 1,000 sq km, attracting local and global investors to explore rich mineral sites like gold and silver. - [Start a Real Estate Business in Saudi Arabia](https://analytix.sa/real-estate-business-in-saudi-arabia/): Planning to start a real estate business in Saudi Arabia? But don’t have much idea regarding the process involved? This Blog is for you! - [Saudi Arabia introduces new labor law changes: extended maternity leave, new notice policies and more paid leave ](https://analytix.sa/saudi-arabia-introduces-new-labor-law-changes-extended-maternity-leave-new-notice-policies-and-more-paid-leave/): New labor law in Saudi Arabia enhance job security and employee rights, aligning with Vision 2030 goals for a stable work environment. - [Saudi cities announce 57 investment opportunities for commercial and residential sectors ](https://analytix.sa/saudi-cities-announce-57-investment-opportunities-for-commercial-and-residential-sectors/): Hail, Qassim, and Asir municipalities launch investment initiatives in various sectors to boost regional development and economic growth. - [What are the challenges for a non-Saudi to have a business in Saudi Arabia?](https://analytix.sa/challenges-for-a-non-saudi-to-have-a-business-in-saudi-arabia/): In this blog, we'll discuss major issues facing foreigners who wish to establish their business in Saudi Arabia. - [Industrial License Saudi Arabia](https://analytix.sa/industrial-license-saudi-arabia/): This blog helps you discover all key facts about industrial license in Saudi Arabia like industrial licensing requirements. - [Non-oil sector contribution to Saudi’s GDP rises up to 1.4%  ](https://analytix.sa/non-oil-sector-contribution-to-saudis-gdp-rises-up-to-1-4/): According to GASTAT, Saudi Arabia’s economy grew by 1.4%, and the oil sector rose to 1.3% and the non-oil sector rose to 1.4% - [Saudi Insights: Saudi Arabia announces King Salman Stadium with more than 90,000 seating capacity ](https://analytix.sa/saudi-insights-saudi-arabia-announces-king-salman-stadium-with-more-than-90000-seating-capacity/): Explore key updates: King Salman Stadium, $50B deals with China, Final Fantasy VII event, and Saudi-Chile mining talks. - [How Vision 2030 and MISA are encouraging foreign companies to land in the Kingdom?](https://analytix.sa/vision-2030-and-misa-are-encouraging-foreign-companies-to-land-in-the-kingdom/): In this blog, we will discuss how Vision 2030, the country’s development plan up to the year 2030, and MISA’s actions make the kingdom favorable for international business ventures. - [UN-affiliated Industrial Forum set for October in Riyadh ](https://analytix.sa/un-affiliated-industrial-forum-set-for-october-in-riyadh/): The 2nd MIPF in Riyadh on October 23-24 focuses on sustainable industrial policies, clean energy, and advanced manufacturing technologies. - [Saudi Arabia and Its Business Relationship with other GCC Countries in 2024](https://analytix.sa/saudi-arabia-and-its-business-relationship-with-other-gcc-countries/): In this blog, we will provide you with insights into the business relationship between Saudi Arabia and its counterpart countries within the GCC in the year 2024. - [Best Countries to Set Up a Business in 2024](https://analytix.sa/best-countries-to-set-up-a-business/): This blog will discuss the best countries to set up a business in 2024. The list is finalised after considering several factors. - [Saudi Insights: Saudi Arabia’s electric car market sees a surge](https://analytix.sa/saudi-insights-saudi-arabias-electric-car-market-sees-a-surge/): Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. From 21st June to 27th July 2024 - [Saudi Arabia’s Non-Oil exports rise to $7.70bn in May ](https://analytix.sa/saudi-arabias-non-oil-exports-rise-to-7-70bn-in-may/): RIYADH: Saudi Arabia has experienced growth in its non-oil exports reaching $7. 70 billion in May, a two-year high, with... - [Saudi Arabia and Turkiye strengthen ties to advance Industrial and Mining Sectors ](https://analytix.sa/saudi-arabia-and-turkiye-strengthen-ties-to-advance-industrial-and-mining-sectors/): RIYADH: Saudi Arabia and Turkiye have been strengthening their ties to boost industrial and mining sectors after the recent held... - [Saudi Arabia announces to grant 5 licenses to push mineral exploration](https://analytix.sa/saudi-arabia-announces-to-grant-5-licenses-to-push-mineral-exploration/): RIYADH: Saudi Arabia has recently declared its largest mineralized area yet comprising of 4,788 sq. km and offered five new... - [Saudi Weekly Insights: Saudi Arabia sets new record in the Tourism sector ](https://analytix.sa/saudi-weekly-insights-saudi-arabia-sets-new-record-in-the-tourism-sector/): Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. From 14th June to 20th July 2024 - [Trade License in Saudi Arabia](https://analytix.sa/trade-license-in-saudi-arabia/): Facing difficulty in obtaining a trade license in Saudi Arabia? This blog will give an overview of how to get a commercial license in Saudi Arabia. - [Living in Saudi Arabia](https://analytix.sa/living-in-saudi-arabia/): Here, you will find the advantages, the things to consider, transportation, culture, viable business, and employment in the Kingdom of Saudi Arabia - [Start a Business in Saudi Arabia from the UAE](https://analytix.sa/start-a-business-in-saudi-arabia-from-uae/): Planning to start a business in Saudi Arabia from UAE? This blog will explain you how to process a company formation in Saudi Arabia from UAE. - [Saudi PIF finalized 3 deals to improve renewable energy component manufacturing](https://analytix.sa/saudi-pif-finalized-3-deals-to-improve-renewable-energy-component-manufacturing/): RIYADH: Saudi Arabia’s Public Investment Fund (PIF) on July 16 signed three major agreements to boost the Kingdom’s renewable power... - [Thailand opens first investment office in Riyadh to strengthen economic ties with Saudi Arabia ](https://analytix.sa/thailand-opens-first-investment-office-in-riyadh-to-strengthen-economic-ties-with-saudi-arabia/): RIYADH: Saudi Arabia and Thailand are expanding their economic ties with the opening of Thailand’s first Board of Investment (BOI)... - [Start a Business in Saudi Arabia from Qatar](https://analytix.sa/start-a-business-in-saudi-arabia-from-qatar/): If you are a Qatari planning to start a business in Saudi Arabia from Qatar then this blog is for you. - [Saudi Arabia FinTech Sector - All You Need to Know](https://analytix.sa/start-a-saudi-arabia-fintech-company/): Saudi Arabia FinTech sector is one of the fastest-growing industries within just five short years. - [Diriyah awards $ 2bn contract for Mixed-Use District](https://analytix.sa/diriyah-awards-2bn-contract-for-mixed-use-district/): RIYADH: Diriyah, the heritage city in Saudi Arabia, has granted a contract of SR7. 8 billion ($ 2 bn) for... - [Saudi Weekly Insights: Riyadh to rank amongst top 15 fastest-growing cities by 2033](https://analytix.sa/saudi-weekly-insights-riyadh-to-rank-amongst-top-15-fastest-growing-cities-by-2033/): Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. From 08th June to 13th July 2024 - [Saudi-China officials meet in Riyadh to enhance the housing partnerships ](https://analytix.sa/saudi-china-officials-meet-in-riyadh-to-enhance-the-housing-partnerships/): RIYADH: Strategic partnerships between Saudi Arabia and China in the municipal and housing sectors are set to move to the... - [Q2 2024 witnesses a spike in Saudi Arabia’s tech sector registrations](https://analytix.sa/q2-2024-witnesses-a-spike-in-saudi-arabias-tech-sector-registrations/): RIYADH: Saudi Arabia’s tech sector boomed during the second quarter of 2024; especially Artificial Intelligence (AI) and cloud computing services... - [Start a Construction Company In Saudi Arabia ](https://analytix.sa/construction-company-in-saudi-arabia/): In this blog, we'll give insights into the construction sector in Saudi Arabia, its opportunities & how to set up a construction company in Saudi Arabia. - [Investor Visa in Saudi Arabia - 2024](https://analytix.sa/investor-visa-in-saudi-arabia/): Investor Visa in Saudi Arabia or Golden Visa provides you with a permanent residence and many business privileges in the kingdom. - [Saudi Weekly Insights: Fortis expands into Saudi Arabi’s SME Sector ](https://analytix.sa/saudi-arabia-this-week-6/): Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. From 30th June to 07th July 2024 - [Saudi Arabia sees a 78% increase in Business registrations as the Private sector booms ](https://analytix.sa/saudi-arabia-sees-a-78-increase-in-business-registrations-as-the-private-sector-booms/): RIYADH: The Saudi Ministry of Commerce registered over 120,000 new commercial registrations in the second quarter of 2024, which is... - [Saudi Arabia sees 23% surge in Tourists’ spending, reaching $12 bn  ](https://analytix.sa/saudi-arabia-sees-23-surge-in-tourists-spending-reaching-12-bn/): RIYADH: The Kingdom of Saudi Arabia recorded a rise in Tourists’ spending by 23% during the first quarter of the... - [Saudi Arabia’s FDI rises by 5.6% in FDI in Q1 2024](https://analytix.sa/saudi-arabias-fdi-rises-by-5-6-in-fdi-in-q1-2024/): The Kingdom of Saudi Arabia recorded a 5.6% rise in Foreign Direct Investment (FDI) during the first quarter of 2024 - [Saudi Arabia this week](https://analytix.sa/saudi-arabia-this-week-5/): Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly business news from 24th to 29th June 2024 - [Top Cities in Saudi Arabia to Start a Business](https://analytix.sa/top-cities-in-saudi-arabia-to-start-a-business/): Welcome to our expert guide on the top cities in Saudi Arabia suitable for starting a business venture. - [Neom Project - A Complete Guide on City of the Future](https://analytix.sa/neom-project/): This blog will the vision of NEOM Project, opportunities for investors, key regions and business sectors, and the development timeline. - [Start an E-commerce Business in Saudi Arabia ](https://analytix.sa/ecommerce-business-in-saudi-arabia/): In this blog, we'll guide you through the whole process on how to start an e-commerce business in Saudi Arabia through this blog. - [UK Investors Eye NEOM, Qiddiya and Diriyah Projects](https://analytix.sa/uk-investors-eye-neom-qiddiya-and-diriyah-projects/): The British investors have exhibited strong interest for investments in Saudi Arabia’s renewable energy as well as sustainable infrastructure market which aligns with Saudi Vision 2030 - [Set Up a Travel and Tourism Company in Saudi Arabia ](https://analytix.sa/travel-and-tourism-company-in-saudi-arabia/): In the blog, we aim to give an understanding on the legalities and requirements to start a travel and tourism company in Saudi Arabia successfully. - [Saudi Arabia this week](https://analytix.sa/saudi-arabia-this-week-4/): Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly business news from 17th to 23rd June 2024 - [Saudi Arabia Advances in Global Competitiveness Rankings to 16th Place ](https://analytix.sa/saudi-arabia-advances-in-global-competitiveness-rankings-to-16th-place/): Saudi Arabia has upgraded its competitiveness ranking to 16th place out of 67 countries in the IMD World Competitiveness Yearbook. - [Setting up a Cyber Security Business in Saudi Arabia ](https://analytix.sa/setting-up-a-cyber-security-business-in-saudi-arabia/): In this blog, we will be sharing expert insights on the process of setting up a cybersecurity business in Saudi Arabia. - [Best Places to Relocate Your Business in Saudi Arabia ](https://analytix.sa/best-places-to-relocate-your-business-in-saudi-arabia/): In this blog, we will be exploring in detail the most suitable places for relocating your business in Saudi Arabia. - [Saudi Arabia's Mining Sector Emerges as Global Leader in Regulatory and Investment Reforms](https://analytix.sa/saudi-arabias-mining-sector-emerges-as-global-leader-in-regulatory-and-investment-reforms/): Saudi Arabia’s mining sector restructuring has set the Kingdom as the fastest-growing regulatory and Investment-friendly environment in the world. - [Saudi Arabia's Initiative to Permit Non-Saudis to Establish Law Firms](https://analytix.sa/saudi-arabias-initiative-to-permit-non-saudis-to-establish-law-firms/): Saudi Arabia will now allow foreign law firms, already licensed to practice in the country, to establish companies fully owned by non-Saudis. - [Doing Business in Saudi Arabia ](https://analytix.sa/doing-business-in-saudi-arabia/): Do you or someone you know dream of doing business in saudi arabia (KSA)? If yes, we have some important information for you here in this blog. - [Saudi Arabia this week](https://analytix.sa/saudi-arabia-this-week-3/): Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. From 2nd Jun - 8th June 2024 - [Import Export Business in Saudi Arabia](https://analytix.sa/import-export-business-in-saudi-arabia/): Are you someone looking to begin import export business in Saudi Arabia? Then this blog is specially for you. - [127 Companies Move Regional HQs to Saudi Arabia in Early 2024, Surging by 477%](https://analytix.sa/127-companies-move-regional-hqs-to-saudi-arabia-in-early-2024-surging-by-477/): In a major boost to Saudi Arabia’s investment appeal, 127 international companies relocated their regional headquarters to the Kingdom in the first quarter of 2024. - [KSA Iqama Transfer Rules](https://analytix.sa/ksa-iqama-transfer-rules/): In this blog, we will discuss the iqama transfer and related rules and regulations, announced by the Kingdom of Saudi Arabia. - [Saudi Arabia this week](https://analytix.sa/saudi-arabia-this-week-2/): Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. from 26th to 31st May - [Saudi Arabia joins in Finance and Municipal Affairs Meeting in Qatar](https://analytix.sa/saudi-arabia-joins-in-finance-and-municipal-affairs-meeting-in-qatar/): Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, led the Kingdom’s delegation at the 121st meeting of the Gulf Cooperation Council’s Financial and Economic Cooperation Committee in Doha, Qatar - [Saudi Arabia and Austria Sign MoU to Boost Economic Cooperation](https://analytix.sa/saudi-arabia-and-austria-sign-mou-to-boost-economic-cooperation/): The Kingdom of Saudi Arabia and Austria have taken a big step together to boost economic cooperation by signing a new MoU (Memorandum of Understanding). - [Saudi Arabia this week](https://analytix.sa/saudi-arabia-this-week/): Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. - [Setting Up a Manufacturing Business in Saudi Arabia](https://analytix.sa/manufacturing-business-in-saudi-arabia/): Thinking of setting up a manufacturing business in Saudi Arabia and do not know where to begin? Then this blog is for you. - [Saudi Arabia Sets World Records in Wind Energy Costs with Al-Ghat and Wa’ad Alshamal Projects](https://analytix.sa/saudi-arabia-sets-world-records-in-wind-energy-costs-with-al-ghat-and-waad-alshamal-projects/): Prince Abdulaziz bin Salman stated that the Al-Ghat and Wa’ad Alshamal wind power projects have made Saudi Arabia set new world records for cutting the cost of generating electricity from wind energy. - [Types of Companies in Saudi Arabia](https://analytix.sa/types-of-companies-in-saudi-arabia/): In this blog, we will discuss the various types of companies in Saudi Arabia along with key features, legal requirements, pros and cons of each. - [Jaumur: NEOM's Luxurious Coastal Community in the Gulf of Aqaba ](https://analytix.sa/jaumur-neoms-luxurious-coastal-community-in-the-gulf-of-aqaba/): Saudi Arabia’s $ 500 billion futuristic city NEOM will feature a unique project named ‘Jaumur’ – a large cosmopolitan luxury... - [National Investment Strategy Saudi Arabia](https://analytix.sa/national-investment-strategy-saudi-arabia/): Curious to know what is the national investment strategy saudi arabia? Read the blog to know further about NIS. - [Must-Attend Business Events in Saudi Arabia - May 2024](https://analytix.sa/must-attend-business-events-in-saudi-arabia-may-2024/): Let's explore the details of upcoming business events in the Kingdom. - [Visa Types In Saudi Arabia](https://analytix.sa/visa-types-in-saudi-arabia/): This Blog gives you an idea on various visa types in Saudi Arabia and the key essential requirements of each visas in detail. - [Taxation in Saudi Arabia](https://analytix.sa/taxation-in-saudi-arabia/): Curious to know about the taxation in Saudi Arabia? In this blog, we provide all information regarding the tax system in Saudi Arabia - [Saudi Arabia’s Economy Shows Consistent Growth](https://analytix.sa/saudi-arabias-economy-shows-consistent-growth/): Keeping in line with Saudi Vision 2030 goals, the GDP of Saudi Arabia is witnessing consistent growth. The total GDP of Saudi Arabia rose by 1.3 percent in the first quarter of 2024 compared to the previous quarter. - [Gulf's First European Chamber of Commerce to Come Up in Riyadh](https://analytix.sa/gulfs-first-european-chamber-of-commerce-to-come-up-in-riyadh/): May 8 will feature the inauguration of the initial European Chamber of Commerce of the Gulf region in Riyadh, Saudi Arabia - [Saudi Government Portal](https://analytix.sa/saudi-government-portal/): Understanding each of saudi government portal is necessary to ease your work and avoid complications, when you set up a business. - [LUCID and KACST Sign Partnership to Develop EV Technology in Saudi Arabia](https://analytix.sa/lucid-and-kacst-sign-partnership-to-develop-ev-technology-in-saudi-arabia/): Lucid, a leading US-based manufacturer of electric vehicles (EV) has made a partnership agreement with Saudi Arabia’s King Abdulaziz City for Science and Technology (KACST) to develop EV technology in the Kingdom. - [Giga Projects in Saudi Arabia](https://analytix.sa/giga-projects-in-saudi-arabia/): This blog discusses giga projects in saudi arabia and how it contributes strategically to the economic development and diversification of the country. - [Economic Cities in Saudi Arabia](https://analytix.sa/economic-cities-in-saudi-arabia/): This blog will help you understand Economic Cities in Saudi Arabia, and how it is accelerating the economic growth of this Arab Kingdom. - [Saudi Vision 2030](https://analytix.sa/saudi-vision-2030/): Hearing Saudi Vision 2030 for a long time, but don't know what it is? Then this blog is for you - [Saudi Arabia Focuses on Sustainable Tourism](https://analytix.sa/saudi-arabia-focuses-on-sustainable-tourism/): Saudi Arabia has become a sustainable tourism and hospitality leader in the Middle East and North Africa (MENA) region. - [Guide to Investing in Saudi Arabia 2024](https://analytix.sa/investing-in-saudi-arabia/): This blog is a comprehensive answer to all your doubts regarding investing in Saudi Arabia in 2024. - [World Bank and Saudi Arabia Partner on Knowledge Hub for Economic Reform](https://analytix.sa/world-bank-and-saudi-arabia-partner-on-knowledge-hub-for-economic-reform/): In a recent development, the World Bank and Saudi’s National Competitiveness Center (NCC) will join forces to establish a knowledge hub in Saudi Arabia. - [Saudi Arabia Highlights Investment Initiatives in Tourism at International Hospitality Investment Forum](https://analytix.sa/saudi-arabia-highlights-investment-initiatives-in-tourism-at-international-hospitality-investment-forum/): The Saudi Ministry of Tourism is playing a pivotal role at the International Hospitality Investment Forum (IHIF), presenting an interesting... - [MISA License Saudi Arabia](https://analytix.sa/ministry-of-investment-misa-license-saudi-arabia/): This blog to help you gain idea of the investment license issued by the Ministry of Investment of Saudi Arabia (MISA) in Saudi Arabia. - [A Guide to Iqama, Saudi Residence Permit](https://analytix.sa/saudi-residence-permit-iqama/): This blog will discuss the types, requirements, costs, and significance of iqama or Saudi residence permit. - [Foreign Investment Law in Saudi Arabia](https://analytix.sa/foreign-investment-law-in-saudi-arabia/): Understanding foreign investment law in Saudi Arabia can be a complex task. This blog will offer you insights into Saudi foreign investment law. - [Top 10 Business Ideas in Saudi Arabia](https://analytix.sa/business-ideas-in-saudi-arabia/): In this blog, we will share our expert insights on the top 10 best and most promising business ideas to start in Saudi Arabia by 2030. - [Guide to Saudization And Nitaqat Program](https://analytix.sa/saudization-nitaqat/): This blog is designed to give you detailed information regarding Saudization and ‘Nitaqat Program’ in saudi arabia - [Withholding Tax In Saudi Arabia (WHT)](https://analytix.sa/withholding-tax-in-saudi-arabia/): The withholding tax (WTH) in Saudi Arabia is a type of income tax levied on non-residents who generate income from a Saudi source. - [Set up Your General Partnership in Saudi Arabia](https://analytix.sa/set-up-your-general-partnership-in-saudi-arabia/): In this blog, we will explore the various aspects of starting a general partnership in Saudi Arabia. - [Start a Foreign Company Branch in Saudi Arabia](https://analytix.sa/foreign-company-branch-in-saudi-arabia/): This blog is aimed at being your ultimate guide for establishing a foreign company branch in Saudi Arabia. Analytix has... - [Joint Stock Company in Saudi Arabia](https://analytix.sa/joint-stock-company-in-saudi-arabia/): In this blog, we will talk about the organizational structure, benefits, as well as requirements for starting a joint stock company in Saudi Arabia (KSA) - [LLC Company Formation in Saudi Arabia](https://analytix.sa/llc-company-formation-in-saudi-arabia/): This blog will focus on the process of opening an LLC (Limited Liability Company) formation in Saudi Arabia. --- # # Detailed Content ## Pages > Saudi Arabia provides a modern and vibrant lifestyle, influenced by rapid development and a young, energetic population. Read more. - Published: 2025-07-04 - Modified: 2025-08-28 - URL: https://analytix.sa/quality-of-life-in-saudi-arabia/ Home Quality of Life in Saudi Arabia. A peaceful, friendly place to live, work and raise a family Book a Free Consultation Quality of Life in Saudi Arabia. Saudi Arabia provides a modern and vibrant lifestyle, influenced by rapid development and a young, energetic population. Vision 2030 has been bringing positive changes in daily life, increasing the kingdom’s appeal as one of the best places to live, work, and explore. People in Saudi Arabia now have access to more options, improved services, and a friendly environment. Key Aspects. Digital Infrastructure. Saudi Arabia is rapidly advancing in digital technology. Smart city projects, artificial intelligence, and digital government services have been simplifying daily tasks for everyone. Leisure & Entertainment. Residents and tourists can now experience top-notch entertainment, sports, and cultural festivals. In 2024, the country welcomed over 115. 9 million tourists, reflecting strong and rising demand for leisure and tourism. Education. The government invested SR201 billion ($53. 5 billion) in education for 2025, supporting over 2 million students and introducing new programs in technology and languages. Healthcare. By December 2024, all Saudi citizens and almost all residents (95. 9%) have access to basic healthcare, indicating a strong dedication to health and well-being. Safety. Saudi Arabia is considered one of the safest places in the world. In 2025, 92. 6% of the people reported that they felt safe walking alone in their neighborhood at night. Cost of Living. In 2025, Saudi Arabia’s Quality of Life Index is 177. 0, reflecting a good balance between earnings and expenses, with living expenses affordable for most individuals. Urban Development. Major cities like Riyadh and Jeddah are experiencing rapid growth. They now feature modern homes, green spaces and efficient transport, making life in the city comfortable and enjoyable. Work-Life Balance. Economic and cultural reforms are helping people find a balance between work and personal life, finding more time for family, hobbies, and relaxation. Saudi expansion solution Expand your Business To Saudi Arabia Today. Explore Licenses Saudi Arabia offers immense opportunities for living, working or investing. If you have any questions or need help with anything, Analytix is here to guide you. --- > The investor journey consists of four key stages: Information Gathering, Preparing & Planning, Process & Setup, Operations & Engagement. Lets see in detail. - Published: 2025-07-04 - Modified: 2025-08-28 - URL: https://analytix.sa/investor-journey/ Home Investor Journey. Supporting you with information and services along the investor journey. Investor Journey The investment process has never been easier and more welcoming than ever. The new Investment Law (effective February 2025) and Vision 2030 reforms simplify processes, offer equal opportunities, and provide better protection to both local and foreign investors. The investor journey consists of four key stages: Learn More. . Information GatheringUnderstand opportunities, regulations, and the business environment Preparing & PlanningPrepare a business plan and find reliable partners. Process & SetupComplete the necessary steps to set up your business. Operations & EngagementStart, expand and maintain your business in Saudi Arabia. Information Gathering This first step lays groundwork for a successful investment journey. Investment Opportunities & Market Insights Find out about the latest investment opportunities and market trends in Saudi Arabia. Sector AnalysisRapidly developing sectors such as renewable energy, technology, and healthcare offer immense opportunities for new investors, as they are promoted by national goals for sustainability and innovation. Giga ProjectsMajor projects like NEOM and The Red Sea Project are gaining international attention. NEOM, estimated at $500 billion, is expected to generate thousands of jobs and new opportunities for investment. FDI TrendsForeign direct investment hit $5. 9 billion in the first quarter of 2025, an increase of 44% from the previous year. The kingdom has been aiming for SAR 388 billion in FDI by 2030. Government InitiativesVision 2030 and the latest reforms help in attracting investment, opening new sectors and reducing barriers. Regulations & Compliance Knowing the rules can help prevent issues and protect your investment. New Investment Law 2025Registrations will replace licensing, simplifying the process of setting up a business. Additionally, all investors receive equal treatment and improved protections. Sector-Specific RulesCertain sectors such as energy and defense require special permissions before you can invest. Negative ListSome sectors are restricted or require additional approvals. Check the official lists for more information. Compliance ToolsUse online government platforms to stay informed about the latest legal requirements. Data & Research Tools Digital tools assist you in making informed decisions based on facts: Market ReportsReliable sources deliver the latest data on markets and trends. Government PortalsGet real-time updates and assistance from portals such as Invest Saudi and the Ministry of Investment. Expert SupportProfessional assistance can help you decipher complex data and minimise risks. What’s On Stay updated on business events and new opportunities. Business ForumsAttend conferences and networking events to connect with industry leaders and partners. Workshops & WebinarsTake part in regular sessions to gain an understanding about investment, compliance, and market entry. Giga Projects UpdatesStay tuned for official news regarding project progress and new openings. Preparing & Planning This stage prepares you to enter the Saudi market confidently. Business Plan DevelopmentMake a well-defined, data-supported plan for success and for meeting investors’ expectations. Partner IdentificationFind reliable local partners or service providers as it’ll be very helpful, easing your entry and providing you valuable insights. Financial PlanningCreate accurate financial forecasts and make sure to comply with current tax laws. DocumentationGet all the... --- > Confused why Saudi Arabia compared to other middle east countries? IHere we list why you should consider Saudi for your business expansion. - Published: 2025-07-04 - Modified: 2025-09-27 - URL: https://analytix.sa/why-saudi-arabia/ Home Why Saudi Arabia? The Land of opportunities Book a Free Consultation Why Saudi Arabia? Saudi Arabia is in the transformation phase of becoming one of the best places to do business. With the right Market Insights, eyeing an expansion into Saudi Arabia for businesses can be the edge your business needs to outperform your competition. About the Kingdom With Vision 2030 in full swing, changes are becoming more evident about its future as a global hub for business. With recent investment and growth in the fields of Tech, Logistics, construction, manufacturing, and many more, it is not just an oil-backed country but spearheading the businesses of tomorrow. Some of the reasons Saudi Arabia should be the next destination for your business: Top 20 in global economy according to the World Bank 2024 1st in ease of doing business 2nd among the G20 by ICT Development Index 2024 $25 BN in FDI inflows 2023 9th Largest stock market in the world and largest in the MENA 1st in Cyber Security in the world according to IBM 5th in entrepreneurship policies and culture Learn More. . Opportunities In Saudi With the new policies by the Saudi government, businesses have numerous opportunities in Saudi Arabia to thrive and grow You could miss these opportunities if not in Saudi Arabia: $3 Trillion+ in Planned Mega Projects $14. 9 Billion for AI and Tech +100 Million Tourists Target by 2030 $1. 3 Trillion in Untapped Mining Reserves Tech & Digital Economy Push Green Energy & Sustainability Boom $500 billion futuristic city with sub-projects Learn More. . Invest In Saudi Not only establishing your business but investing in Saudi Arabia is also one of the best financial decisions you can make due to the country’s new policies This has helped them become: 1st in Total value for venture investment in MENA and North Africa. 6th in Financing and scaling up of startups 9% annual rise of non-oil GDP Net FDI inflows hit SAR 22. 1 billion (~US $5. 9 b) in Q4 2024 13th globally in the 2025 FDI Confidence Index Aims to draw $100B in annual FDI by 2030 Learn More. . Quality of Life Not just businesses but investing in Saudi Arabia is also the doorway to a thriving and quality life. Digital Infrastructure Leisure Education Health Care Digital Security/Privacy Thriving community Learn More. . Investor Journey Saudi Arabia provides lucrative options for investment. A thorough understanding of the investment process in Saudi Arabia is essential to make wise decisions and to get started. Steps to follow for getting an investor license: Issuance of Investment License by Ministry of Investment of Saudi Arabia Documentation of Memorandum of Association in association with Ministry of Commerce and Industry, Ministry of Justice. Issuance of Commercial Registration by the Ministry of Commerce and Industry Open Files from Different Saudi Ministries and Organizations Issuance of General Directors Visa by Human Resources and Social Development Learn More. . Register Your Company Anywhere in Saudi Arabia with Analytix. Register your company anywhere... --- > With strong economic growth and new initiatives, there are more opportunities in Saudi Arabia than ever before. Lets see them in detail. - Published: 2025-07-04 - Modified: 2025-08-28 - URL: https://analytix.sa/opportunities-in-saudi-arabia/ Home Opportunities In Saudi Arabia. Book a Free Consultation Explore Saudi Arabia's Boundless Opportunities. Saudi Arabia is experiencing rapid growth and is becoming a leading destination for international investors. The country is continuously creating numerous opportunities for investors and entrepreneurs. With strong economic growth and new initiatives, there are more opportunities in Saudi Arabia than ever before. Investment Opportunities Saudi Arabia provides a favourable investment environment. Recent data indicates that the economy grew by 3. 4% in the first quarter of 2025, driven by a 4. 9% increase in non-oil sectors. Experts predict the economy will grow, with the IMF estimating a 3% rise in 2025 and 3. 7% in 2026. The country is maintaining low inflation, with a projected stable rate of 2% in 2025. Consumer spending is increasing, with an expected surge of 4. 5% this year, based on current economic trends. Saudi Arabia is currently the fastest-growing startup ecosystem globally in 2025, with over 200% growth and three cities listed in the top 1,000 worldwide for startups, as per the latest ecosystem reports. The government offers support and incentives for foreign investors, making it the number one choice for investors. Business Sectors in Saudi Arabia The latest statistics indicate a 48% increase in new business registrations in the first quarter of 2025, totalling over 154,000 new records. Remarkably, 45% of these new businesses are owned by women, indicating strong support for women entrepreneurs. Digital sectors such as e-commerce, cloud computing, and AR/VR have been growing quickly. The government continuously supports innovation and entrepreneurship. It encourages public-private partnerships to help businesses thrive and grow. Talk to an Expert Many business sectors in Saudi Arabia hold great potential: Technology Tourism Entertainment Renewable energy Healthcare Construction E-commerce Giga Projects Saudi Arabia is investing in giga projects that are reshaping the kingdom’s landscape. Key initiatives include NEOM, the Red Sea Project, and Riyadh Expo 2030. These initiatives have been attracting international investment, aiding in economic transformation. These projects focus on sustainability, smart cities, and the latest technology. They generate numerous opportunities for businesses and investors across various sectors. Special Economic Zone Special Economic Zone in Saudi Arabia provide numerous advantages to businesses: Tax incentives Simple regulations Access to high-quality infrastructure These zones are intended to attract foreign investment and promote fast-growing sectors. They are perfect for international companies that want to enter the Saudi market. Saudi expansion solution Expand your Business To Saudi Arabia Today. Explore Licenses Saudi Arabia offers numerous opportunities for investors, entrepreneurs, and growing businesses. If you’re looking to invest, expand, or start something new, we are here to help with everything throughout the whole process. --- - Published: 2025-05-06 - Modified: 2025-07-21 - URL: https://analytix.sa/link-tree/ Analytix Simplify your business setup in Saudi Arabia with Analytix—expert guidance, end-to-end support, and seamless compliance to launch your company quickly, legally, and hassle-free. Scheduling a meeting Chat with our consultant Visit our webiste Download company Profile Follow us on! Linkedin Instagram Facebook Twitter Youtube Tiktok --- > Stay informed with our Daily update on key Saudi business developments. Read the latest business news in saudi arabia - Published: 2024-04-18 - Modified: 2024-11-15 - URL: https://analytix.sa/daily-news/ Saudi Arabia climbs to 12th place from 15 positions in tourist spending: UN Tourism Saudi Insights:   Saudi Arabia climbs to 12th place from 15 positions in tourist spending: UN Tourism Home Saudi Arabia: Daily Business Update. Stay informed with our Daily update on key Saudi business developments --- > Analytix simplifies the process of securing Saudi Premium Residency, offering solid support from the start to end, that is from application procedure. - Published: 2024-04-03 - Modified: 2025-05-22 - URL: https://analytix.sa/premium-residency-in-saudi-arabia/ Company Formation Premium Residency in Saudi Arabia. Guaranteed Premium Residency in Saudi Arabia with Analytix. Secure and enjoy all the offered Premium residency Saudi Arabia Benefits with us. Schedule a Consultation What is Premium Iqama in Saudi Arabia? The Premium Iqama or Premium Residency in Saudi Arabia is a residence permit issued by the Saudi government to expatriates who wish to reside in Saudi while enjoying many of the same privileges enjoyed by Saudi nationals. Authorized by Royal decree and Council of Ministers' approval, It gives expatriates the right to own property and vehicles and invest capital in Saudi without sponsorship. This program positions Saudi Arabia as a prominent investment destination, offering not only business-friendly regulations but also enticing advantages for residents. With Premium Residency, cardholders can enjoy the privilege of residing in the country without being subject to dependent fees, making it a compelling incentive for foreign nationals to actively participate, invest, and contribute to the Saudi economy. Premium Residency Saudi Arabia Benefits A Premium Residency visa in Saudi Arabia offers important benefits that can make a big difference in your living experience in Saudi Arabia. No Sponsorship RequiredUnlike a traditional iqama, the Premium Residency visa does not require a local to sponsor your residency permit in Saudi Arabia. Multiple Entry and ExitsPremium Residency visa holders get the freedom to move in and out of Saudi Arabia without any hassle. Changing of JobsIt gives you the freedom to change employers and explore opportunities in the Saudi job market. Business OwnershipPremium Residency holders can engage in business activities, either as individuals or as joint ventures. Control Over CapitalIt gives you the freedom to invest in the Saudi capital market, as well as manage and maintain control over capital. Real EstatePremium Residency visa holders can invest and trade in real estate for commercial or industrial purposes. Private PropertyThere is no limit to the number of properties Premium Residency visa holders can purchase. Private Transport OwnershipPremium Residency visa holders in Saudi Arabia have the right to own and license cars and other means of private transportation in their name. About Analytix Arabia How Will Analytix Help You For Saudi Premium Residency? Analytix simplifies the process of securing Saudi Premium Residency, offering solid support from the start to end, that is from application procedure, document preparation to finally obtaining it in your hands. Our services streamline the path to acquiring premium residency in Saudi Arabia, ensuring a better and efficient experience for foreign residents in the country. Make Enquiry Years of Experience 0 + International Market Presence 0 + Company Formations in KSA 0 + Professionals 0 + What are the 7 Types of Saudi Premium Residency? The Kingdom of Saudi Arabia recently launched five new types of Premium Iqamas, taking the total number to seven. Their details are as follows: Special Talent ResidencyThis type of premium residency is designed for professionals who are specialized in the fields of healthcare, science, and research. It is also applicable for business executives seeking residency in... --- > This Privacy Policy governs the manner in which Analytix uses, maintains and discloses information collected from users (each, a “User”) of the analytix.sa website (“Site”). This privacy policy applies to the Site and all products and services offered by Analytix. - Published: 2024-03-29 - Modified: 2024-08-15 - URL: https://analytix.sa/privacy-policy/ Home Privacy Policy Privacy & Policy This Privacy Policy governs the manner in which Analytix uses, maintains and discloses information collected from users (each, a “User”) of the analytix. sa website (“Site”). This privacy policy applies to the Site and all products and services offered by Analytix. Personal identification information We may collect personal identification information from Users in a variety of ways, including, but not limited to, when Users visit our site, register on the site, place an order, subscribe to the newsletter, respond to a survey, fill out a form, and in connection with other activities, services, features or resources we make available on our Site. Users may be asked for, as appropriate, name, email address, phone number, credit card information. Users may, however, visit our Site anonymously. We will collect personal identification information from Users only if they voluntarily submit such information to us. Users can always refuse to supply personally identification information, except that it may prevent them from engaging in certain Site related activities. Non-personal identification information We may collect non-personal identification information about Users whenever they interact with our Site. Non-personal identification information may include the browser name, the type of computer and technical information about Users means of connection to our Site, such as the operating system and the Internet service providers utilized and other similar information. Web browser cookies Our Site may use “cookies” to enhance User experience. User’s web browser places cookies on their hard drive for record-keeping purposes and sometimes to track information about them. User may choose to set their web browser to refuse cookies, or to alert you when cookies are being sent. If they do so, note that some parts of the Site may not function properly. How we use collected information Analytix may collect and use Users personal information for the following purposes: To improve customer service Information you provide helps us respond to your customer service requests and support needs more efficiently. To personalize user experience We may use information in the aggregate to understand how our Users as a group use the services and resources provided on our Site. To improve our Site We may use feedback you provide to improve our products and services. To process payments We may use the information Users provide about themselves when placing an order only to provide service to that order. We do not share this information with outside parties except to the extent necessary to provide the service. To run a promotion, contest, survey or other Site feature To send Users information they agreed to receive about topics we think will be of interest to them. To send periodic emails We may use the email address to send User information and updates pertaining to their order. It may also be used to respond to their inquiries, questions, and/or other requests. If User decides to opt-in to our mailing list, they will receive emails that may include company news, updates, related product or service information, etc. If... --- > At analytix, we navigates the complexities of trademark registration in Saudi Arabia (KSA) making it a precise, smooth, and reliable process - Published: 2024-03-29 - Modified: 2025-05-24 - URL: https://analytix.sa/trademark-registration-in-saudi-arabia/ Corporate Services Trademark Registration in Saudi Arabia (KSA). Effortlessly register your trademark with us for seamless brand protection in Saudi Arabia Schedule a Consultation Trusted Saudi Arabia Trademark Registration Company Welcome to Analytix, your trusted partner for trademark registration in Saudi Arabia. As a premier company, we specialize in providing seamless solutions for safeguarding your brand identity. Our expert team navigates the complexities of trademark registration in KSA making it a precise, smooth, and reliable process. Choose Analytix for a secure and efficient trade mark registration experience in Saudi Arabia. Benefits of Trademark Registration in Saudi Arabia Registering your trademark in Saudi Arabia will help safeguard your identity and gain legal protection while enhancing your brand’s credibility and market presence. The benefits of trademark registration in KSA can be summed up in the following way: Preserves business identity. Prevents infringement from others who may use similar trademarks. Tangible evidence of your legally protected rights. Eliminates the dependence on "Common Law". Serves as an asset whose value appreciates over time. Opens up the possibility of licensing, franchising, or selling the trademark. Trademark registration process How to Register Trademark in Saudi Arabia (KSA)? 1. Trademark SearchBefore proceeding to register your trademark in Saudi Arabia, one should check if the proposed trademark is available for registration in Saudi Arabia. This can be done online through the Saudi Authority for Intellectual Property (SAIP) website or by consulting an IP specialist such as Analytix. 2. Filing ApplicationIf the desired trademark is available, an application for trademark registration can be submitted online through SAIP’s website. If you are not a Saudi Arabian local, it would be helpful to approach a local IP expert such as Analytix for support. 3. Publication and Opposition PeriodThe application will be examined by SAIP to ensure it meets all formal requirements and then published. A 60-day period will follow for any interested party to oppose the registration. 4. Grant of RegistrationIn case of no objections or if the objections filed turn out to be unsuccessful, SAIP issues a Registration Certificate to the applicant. Your trademark registration process in Saudi Arabia is now complete. Documents Required for Saudi Arabia Trademark Registration Trust us to handle the paperwork and get your trademark secured hassle-free. These are the documents required for trademark registration in KSA: Power of Attorney - Appointing us to act and apply on your behalf Copy of Passport of the Applicant(s) Copy of Trade License - In case of Corporate Application Artwork of the Brand Name or Logo Latest Updates: New Trademark and Trade Name Laws (2025) Saudi Arabia has made significant changes to trademark and trade name laws to make business safer and easier. Unified National Commercial Registry Businesses now register under a single national system, removing the old regional approach. This simplifies the process and lessens paperwork. Flexible Trade Names Companies can use Arabia, non-Arabic or a combination of words, numbers and letters for their trade names. This promotes creativity and worldwide appeal. Enhanced Name Protection The new law... --- > Analytix helps you with your business formation in Saudi Arabia and offers a wide range of business support solutions for the growth of your business. - Published: 2024-03-29 - Modified: 2025-08-15 - URL: https://analytix.sa/ End-to-End Corporate Solutions Experts Simplify Your Business Formation In Saudi Arabia. Revolutionizing Every Business Tier with Innovation. Integrated Company Formation & Corporate Solutions Expert. Book a Free Consultation We're Trusted by 2200+ Clients We helped to expand 2200 companies from 14 countries across 20 industries. Why Saudi Arabia? Expand your Business to Saudi Arabia with 100% Foreign Ownership Now! Saudi Arabia is becoming a popular destination for investors and entrepreneurs. With the kingdom's strong government support and Vision 2030 strategy, it becomes easier for businesses to expand or start their business, enjoy tax benefits and gain access to growing markets. This is what makes Saudi Arabia the best place for businesses to expand and start a business in 2025. Business consultants in Saudi Arabia like Analytix plays a major role in helping new companies expand their business to the kingdom and find the best opportunities. Learn More. . Strong Economic GrowthSaudi Arabia’s economy is growing fast, recording 4. 4% GDP growth in 2024 Tax Benefits0% personal income tax and only 20% corporate tax for foreign companies Massive Infrastructure Investment $1 trillion planned for transport, digital and city projects planned by 2030 Booming Foreign Investment$14. 5 billion recorded in foreign direct investment in the first nine months of 2024 Foreign Company Registration Options. Types of companies foreigners can register in Saudi Arabia To start a business in Saudi Arabia for foreigners, there is a range of company structures to choose from, serving diverse business needs and preferences. These choices enable strategic decision-making parallel to specific goals and market dynamics. Limited Liability Company. A Limited Liability Company (LLC) offers business owners a shield from personal liability for the debts and losses faced by the company. Read More. Branch of a Foreign Company. Establishing a Branch provides global companies with a presence in a new market, leveraging the parent company's reputation and resources. Read More. Special Economic Zone. Operating within an SEZ grants businesses tax incentives and regulatory advantages. Key benefits encompass Read More. Regional Headquarters. Designating a Regional Headquarters enhances organizational control and coordination across a specific geographical area. Read More. Premium Residency. Opting for Premium Residency offers individuals noteworthy residence benefits in a specific country. Read More. As an Entrepreneur. Venturing for entrepreneurship demands innovation and risk-taking in the competitive corporate setting. Read More. How much does it cost to open a business in Saudi Arabia ? Get an estimated cost of your company setup in under a minute with our interactive cost calculator Cost Calculator ANALYTIX, Helping you to Unlock Opportunities in Saudi Arabia Our One-Stop Business Support Services for KSA Companies Business Setup Accounting & Bookkeeping Tax filing & Audit Support Visa and GRO Support PRO Services Company Dissolution Services Corporate Advisory Assistance in Factory Setup Virtual office Address Banking Support Business Expansion Trademark Registration What are the advantages of Setting up a Business in Saudi Arabia As part of Vision 2030, Saudi Arabia has introduced transformative reforms to create a business-friendly environment, including 100% foreign ownership without local... --- > Talk to Analytix's expert business consultants. - Published: 2024-03-29 - Modified: 2025-08-18 - URL: https://analytix.sa/contact-us/ Home Talk to our Experts. Seamless company formation in Saudi Arabia, with comprehensive services including taxation, auditing, legal support, and more. Connect with us. KSA: +966 55 440 2052 UAE: +971 56 201 0475 Qatar: +974 703 700 10 info@analytix. sa Our Offices Analytix has 11 offices acrosss 8 countries all around the world Riyadh | Saudi Arabia Jeddah | Saudi Arabia Dammam | Al Khobar | KSA United Arab Emirates Qatar Oman United Kingdom India China USA Riyadh# 703, 7th Floor, Futuro Tower, King Saud Rd, Riyadh Phone Number+966 55 399 3940 Email Addressinfo@analytix. sa Jeddah# 301, 3rd Floor, Al Modon, Al-Gharbiyah Hael Street, Dansat Building, Jeddah Phone Number+966 50 637 6474 Email Addressinfo@analytix. sa Dammam# 407, 4th Floor, SQ Business Towers, Al Khuzama, Al Khobar, Dammam Phone Number+966 55 502 9328 Email Addressinfo@analytix. sa Dubai# 507, 5th Floor, Clover Bay Tower, Marasi Drive, Business Bay, Dubai Phone Number+971 56 201 0475 Email Addressinfo@analytix. sa Doha #907, 9th Floor, GITCO Tower, Corniche, Doha, Qatar Phone Number+974 703 700 10 Email Addressinfo@analytix. sa Muscat # 11, 8th Floor, Al Raya Tower, Algama alakbr, Al Ghala, Muscat Phone Number+968 9769 2700 Email Addressinfo@analytix. sa London 71-75 Shelton Street Convent Garden, London Phone Number+44 7400 466119 Email Addressinfo@analytix. sa Kerala2nd & 3rd Floor, Veekshanam Road, Kochi, Kerala Phone Number+91 97463 77776 Email Addressinfo@analytix. sa ShanghaiRoom 1101, No. 885, Renmin Road, (Huaihai China Tower) Huangpu District, Shanghai Phone Number+86 156 5107 8906 Email Addressinfo@analytix. sa Wyoming1309 Coffeen Avenue STE 1200 Sheridan, Wyoming 82801 Phone Number+1 (774) 228 5377 Email Addressinfo@analytix. sa Saudi Arabia Business Setup Guide 2025 Learn the fundamentals of business setup in Saudi Arabia with our detailed Business Setup Guide for 2025. We have developed it to help entrepreneurs plan and execute business formation efficiently to take advantage of lucrative opportunities present in Saudi. Download PDF --- > Analytix is your one-stop-solution business partner for GCC national company formation in saudi. - Published: 2024-03-29 - Modified: 2025-06-28 - URL: https://analytix.sa/gcc-nationals-company-in-saudi-arabia/ Company Formation Register GCC Nationals Company in Saudi Arabia. Do you know that the GCC Nationals Company Formation in Saudi Arabia can be much easier and simpler with a strategic business partner by your side? With Analytix, as your all-in-one business partner, GCC Nationals Company Formation in Saudi Arabia can be effortlessly easier. Analytix will be the on-ground partner to make it easy for you every step of the way. Our team of experts takes matters into their hands and provides you with proper advice to help you decide the business type, structure, location and many more. Schedule a Consultation Establishing a GCC Owned Business in Saudi Arabia For a GCC national looking to start a business in Saudi Arabia, investing in KSA is relatively easy and beneficial. The Gulf Cooperation Council (GCC), a political and economic alliance comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, provides strong support to its member states. The ease in Saudi Arabia is due to the cooperation of the Public Investment Fund, which ensures that GCC investors receive and enjoy the same benefits and incentives as Saudi nationals. The foreign investors, particularly the GCC nationals, enjoy the same privileges as those of the Saudi citizens while formulating business entities. It’s up to them to decide on the type of business they’ll do, whether it is sole trader, LLC, or joint stock company. GCC businesses in specific are capable of quickly setting up and successfully operating in the market of Saudi Arabia. With the business-friendly environment and fertile ground for growth, the kingdom is the best and most suitable choice for any GCC national investors who seeks to establish a business setup in Saudi Arabia from: United Arab Emirates Saudi Arabia Qatar Oman Kuwait Bahrain Benefits of Setting up Business as a GCC national The Government of Saudi Arabia offers special benefits to people from GCC countries. These include, exclusive investment possibilities, easy business opportunities across borders, treatment similar to Saudi citizens, speedy company setup and bank account opening. Talk to an Expert Quick and simple setup for GCC nationals in Saudi Arabia with minimal delays. Freedom to operate in any sector within Saudi Arabia. GCC nationals have no need for a MISA license No minimum capital is needed for trading. Lower Zakat tax rate of 2. 5% and no need to bear 20% income tax that other foreign investors must pay. Flexibility to choose different business structures (like Sole Establishment, General Partnership, LLC, etc). Types of Companies GCC National can Register in Saudi Arabia. Types of companies GCC Nationals can register in Saudi Arabia Limited Liability Company. This type of company has a separate legal existence for the business. limited liability ownership. flexible taxation & operation. Read More. Branch of a GCC Company. To establish a branch office, you must have an existing GCC company in another country. Operates locally in an established region. legal & financial leads from the parent company. Read More. Joint Stock Company. A joint stock... --- > Try our convenient and interactive cost calculator to get the estimated cost of starting a business in Saudi Arabia without delay. - Published: 2024-03-29 - Modified: 2025-08-18 - URL: https://analytix.sa/business-setup-cost-calculator/ How much is the Cost of Starting a Business in Saudi Arabia? Try our convenient and interactive cost calculator to get the estimated cost of starting a business in Saudi Arabia without delay. Cost Calculator Looking to find the Cost of Starting a Company in Saudi Arabia? Estimating the cost of starting your own business or startup enterprise in the Kingdom of Saudi Arabia can be a complex task. Well, ‘Analytix’ has made it easy with our user-friendly and engaging cost calculator. It is nothing, but your one-step solution for effortless cost calculation. Here is a step-by-step guide to get it done! Step 1: Choose your Business Activity Select the primary activity your business will do or the sector your business engages in. It can be advertising, business marketing, manufacturing, or any other. This step will help us tailor the cost estimate to your specific industry needs. Step 2: What type of premises would you require? It is important to identify the workspace needs of your business. You might require a virtual workspace for remote operations or a physical office space for on-ground operations. Virtual office: Ideal working space for remote businesses that require a professional address and virtual support. Warehouse: Suitable for businesses needing storage and distribution facilities. Business Centre: A Business Centre will have shared office spaces with all the necessary facilities. It is perfect for businesses or start-ups requiring a fully-equipped office setup. Physical Office: A Physical office space is the right choice for a business that requires a dedicated space of its own. Shop for Rent: Suitable for businesses or enterprises in need of a storefront presence. Step 3: Number of Owners This indicates the number of individuals who will be involved in the ownership and management of your business. The number will influence factors such as licensing, registration, and legal costs associated with multiple owners or stakeholders. Step 4: Number of Visas You need to estimate the number of visas required for yourself and every other potential employee for your business. This will help us determine the expenses such as immigration fees and processing costs essential for staffing your business at the best. How much is the Cost of Starting a Business in Saudi Arabia? Starting a business in the Kingdom of Saudi Arabia involves a significant expense and several costs. But how much exactly? Well, it can vary based on certain factors such as the nature of your business activity, location, and office space needs. The good news is that now you have a go-to tool to find this out. The Cost Calculator offered by Analytix is a valuable and beneficial tool that will help you with calculating the cost of starting a business in Saudi Arabia. It breaks down the expenses into appropriate sectors, considering factors like setting up, licensing, permits, and registrations. With just a few clicks and an easy form filling, you can get a clearer picture of what it takes to start your business venture in Saudi Arabia. You may... --- > Make use of the expertise Analytix has in international business setup to seamlessly begin your business journey on a global scale. - Published: 2024-03-29 - Modified: 2025-05-22 - URL: https://analytix.sa/international-company-formation/ Home International Company Formation Services. Begin your global venture with Analytix - your gateway to international business formation Book a Free Consultation Begin Your Global Business Setup Journey Make use of the expertise Analytix has in international business setup to seamlessly begin your business journey on a global scale. We are dedicated to making the process as simple and efficient as possible for you, and ensuring that your project has all the support it needs to become successful. Our international business setup solutions are tailored to meet your custom requirements as we help you navigate the complex nature of global business setup. Reliable Business Setup Services for International Expansion. Our international business setup services help to meet your global expansion needs efficiently. We will help you navigate through the different stages of the business incorporation process, managing all processes such as legal formalities and strategic planning seamlessly. You can count on us to translate your dream of business expansion into reality. Partner with Analytix for a secure and successful global business setup. Business Setup in UAE. Navigate compliance and other setup procedures easily in the UAE using our customized services. We will help you complete all formalities efficiently and ensure business success in UAE’s thriving market. Learn More Business Setup in Qatar. Give a smooth start to your business expansion plans in Qatar using our expert company formation services. We simplify the process of following compliance and setup procedures in Qatar, helping you to begin operations in a hassle-free manner. Learn More Business Setup in Oman. Experience seamless support in guiding your business expansion to Oman with our tailored setup services. We will help you to follow all procedures and regulations efficiently ensuring legal compliance. Our services help to provide a perfect start to your business in Qatar. Learn More Business Setup in UK. Our expert business setup services in the UK help to simplify and make efficient the business formation process. We can help you to follow legal compliance, get the required certificates and licenses for your businesses, and begin operations in a hassle-free manner. Learn More Business Setup in India. Explore business setup in India with our expert services designed to help you achieve business success in a vast and highly competitive market. Our local knowledge and expertise can help guide you by managing all procedures and legal compliance efficiently. Learn More Business Setup in China. Discover hassle-free business expansion in China with our expert services. Analytix can help simplify the documentation process, complete legal formalities, and ensure that your business venture into China is a success. Know the difference our expertise can make. Learn More Business Licenses in Saudi Arabia Make Enquiry Service License Industrial License Agricultural License Real Estate License Trading License Entrepreneurial License Mining License Professional License About Analytix Arabia International Business Formation Made Simple and Effective Analytix is your reliable friend in international business and company formation. We are committed to simplifying procedures easily and providing unique solutions to set up business internationally. Our... --- > Choose Analytix as your partner for your business venture in UAE, and experience a strategic path to the Middle East’s economic wealth, and cultural diversity. - Published: 2024-03-29 - Modified: 2024-09-05 - URL: https://analytix.sa/business-setup-in-uae/ International Business Setup Business Setup in UAE. Analytix is your strategic ally for business setup in the UAE Schedule a Consultation About UAE Business Setup Your Guide to Efficient Business Setup Experience the smooth journey of setting up an international business in the United Arab Emirates (UAE) with Analytix. UAE is one of the fastest-growing commercial centers in the world, and it has to offer a wealth of opportunities for entrepreneurs. The nation has a lot to offer for businesses in terms of a strategic location, tax advantages, and a business-friendly environment. Choose Analytix as your partner for your business venture in UAE, and experience a strategic path to the Middle East’s economic wealth, and cultural diversity. Business Opportunity in Dubai Dubai is a Perfect Business Destination - Know Why Dubai is one of the most preferred destinations for setting up your company internationally. It is a global investment hub and the place where a lot of innovations and industrial collaborations take place. Talk to an Expert Global Business HubDubai is a central point for international trade due to the unparalleled exposure it offers. Investment MagnetGlobal investors are willing to invest in Dubai due to the economic stability and lucrative growth opportunities Dubai offers. Innovation HubWith the latest technologies and an environment fostering innovation, Dubai is an attractive location for a global business setup. Highly Skilled WorkforceFinding good quality talent in Dubai will not be difficult as the most talented individuals in the world emigrate there for work. UAE Business Jurisdiction Different Business Jurisdictions Present in UAE. There are three different types of business jurisdictions under which companies operate in Dubai. If you are looking for company formation in UAE, you need to choose from the following options regarding jurisdiction for your business. Mainland company setup. A mainland company in UAE will provide you unparalleled business freedom, access to the best manpower, and exposure to global trade markets. 100% foreign ownership allowed Own and rent office spaces in mainland UAE Do business with government entities Freezone company setup. There are over 50 free zones present in the UAE which offer key advantages for businesses to operate efficiently. Explore the perfect free zone for your business depending on which industry it operates in. Easy Business Setup Process Flexible Business Trade Licenses Cost Efficient Offshore company setup. An offshore company does not need to be physically located in the UAE. However, it can benefit from favorable government regulations, a tax system, and a convenient setup. Low startup cost – starting at AED 20,500 Fast and simple incorporation process Asset protection Type of Business Entities in UAE Explore The Various Types of Legal Business Entities in the UAE Explore the various types of business entities that are legally accepted in the United Arab Emirates. Depending on your business activity and business structure, one of these types would be most suitable Limited liability company (LLC) An LLC is a business structure for limited liability in the UAE which requires at least two partners and... --- > Analytix can help you to discover a seamless business setup in Oman and make use of the unlimited business opportunities in the kingdom. - Published: 2024-03-29 - Modified: 2024-09-05 - URL: https://analytix.sa/business-setup-in-oman/ International Business Setup Register a company in Oman. Choose the right partner for navigating the Oman business landscape and unlocking business success Schedule a Consultation About Oman Business setup Your Perfect Guide to Business Setup in Oman Analytix can help you to discover a seamless business setup in Oman and make use of the unlimited business opportunities in the kingdom. We will help you to navigate Oman’s thriving business landscape while offering tailored solutions to investors for establishing or expanding their business. Utilize our local expertise and commitment to efficiency to ensure a smooth journey for business success in Oman. Business opportunities in Oman Explore the Reasons that Make Oman Perfect for Investment Let us look into the key reasons that make Oman an ideal investment destination. From its strategic location to investment-friendly policies, Oman is streamlined for business success. Talk to an Expert Trade HubOman has a vast coastline and holds a strategic position in the Middle East. This has made the nation a major trade hub connecting key regions across the world. Skilled WorkforceThe country has a large pool of talented individuals, especially in the Research and Development sector. Fast Infrastructure GrowthEnjoy world-class infrastructure in an environment streamlined for business. Business-Friendly PoliciesOman has 35+ Double Taxation Agreements with other nations and other initiatives to reduce business costs. Type of Business Entities in Oman Explore the Different Types of Business Entities in Oman. These are the diverse kinds of business entities that are legally valid in Oman. Choose the business type that is best suited for your long-term business goals. Limited Liability Company. A Limited Liability Company (LLC) can be formed in Oman with a minimum of 2 shareholders and a maximum of 10. 100% foreign ownership allowed 100% Foreign Ownership 2-10 shareholders Public Joint Stock Company. A public joint stock company allows you to issue company shares to the general public by listing on the stock exchange. Minimum Share Capital of 150,000 OMR 100% Foreign Ownership Approval from the Ministry of Commerce and Industry Private Joint Stock Company. This type of joint stock company does not allow shares to be publicly traded on the stock exchange. Minimum of 3 shareholders 100% Foreign Ownership not Allowed Minimum Share Capital of 50,000 OMR Limited Partnership. 2 or more members can form this type of business entity which requires at least 1 general partner and 1 limited partner. The general partner must be Omani National Limited liability for all limited partners Branch Office. This type of business entity is set up by a foreign company that wants to start a branch of their enterprise in Oman 100% Foreign Ownership Parent company held legally responsible Local agent required to sponsor visas and licenses Representative Office. A representative office can be opened in Oman to conduct market research or for promotional purposes. 100% Foreign Ownership At least one Omani National should be appointed Not allowed to carry our commercial operations Freezones in Oman Invest in Oman’s Free Zones for Strategic Advantages Explore the... --- > Analytix provides you with tailored solutions to help with the business establishment or expansion into the UK. Hire us for business setup in UK - Published: 2024-03-29 - Modified: 2024-09-05 - URL: https://analytix.sa/business-setup-in-uk/ International Business Setup Register a Company in United Kingdom. Make your company set up in the UK a swift and easy process by choosing Analytix Schedule a Consultation About UK Business setup Explore Efficient Business Setup Services in the UK Guarantee your business success in the United Kingdom with our efficient business setup services. Analytix provides you with tailored solutions to help with the business establishment or expansion into the UK. Utilise our local expertise and commitment to efficiency to ensure a smooth business journey in the United Kingdom. Business Opportunities in UK Why UK is Perfect for Business Expansion There are many reasons why the UK stands as the ideal destination for business expansion. From a robust economy to global connectivity, discover the unparalleled advantages attracting investors. Talk to an Expert Global Business HubThe UK offers diverse opportunities for international trade and expansion as a major business hub globally Innovation EcosystemThe UK provides a strong focus on innovation and research and is best suited for businesses in the technology, finance, and healthcare sectors. Access to Skilled WorkforceThe UK provides access to a pool of skilled professionals across various industries Stable Business Environment Enjoy doing business in a stable political and economic environment, coupled with transparent legal frameworks. Type of Business Entities in the UK Different Business Structures Available in the UK. Explore the diverse types of business structures in the UK and choose the kind of business entity that is best suited for your business goals. There are various entities from Limited Liability Partnerships to Public Limited Companies shaping the UK’s entrepreneurial landscape. Limited Liability Partnership (LLP). The LLP combines aspects of partnerships and companies with partners enjoying limited liability. Limited personal liability Flexibility in management Tax advantages for individual members Company Limited By Guarantee (CLG). This is a type of nonprofit entity in the UK where each member guarantees a nominal amount. Limited liability nonprofit structure suitable for charities and social enterprises Public Limited Company. This type of business structure offers its shares to the general public and is listed on the stock exchange. Access to public capital Limited liability Suitable for large-scale businesses Charity Company. This is a nonprofit organization suitable for charitable purposes in the UK. It is focused on making a social impact. Nonprofit status Tax advantages Dedicated to making a social impact Right to Manage Company. This type of company empowers property owners to collectively manage shared spaces in residential communities. Control over property management Improved living conditions Enhanced homeowner involvement Property Management Company. It manages communal spaces in residential complexes in the UK and facilitates shared cost distribution and efficient maintenance. Efficient property maintenance Shared cost distribution Centralized management Our Services included in UK company formation Explore Our Comprehensive Services in the UK Join us on a journey of excellence by exploring our comprehensive services in the UK. Our tailored solutions span company formation, legal compliance, and strategic support for your ambitious business goals. Company Formation Our comprehensive company formation services are designed... --- > We provide invaluable support for businesses looking to set up and expand into the Indian market. Hire us for business setup in India. - Published: 2024-03-29 - Modified: 2024-09-04 - URL: https://analytix.sa/business-setup-in-india/ International Business Setup Business Setup in India. We provide invaluable support for businesses looking to set up and expand into the Indian market Schedule a Consultation About India Business setup Explore Fast and Efficient Business Setup in India Analytix can perfectly guide you through India’s vast and highly competitive market. Utilize our trusted business setup services to explore fully India’s potential as a business powerhouse. Our tailored solutions help entrepreneurs with seamless business establishment, while our local expertise and commitment to efficiency ensure a smooth journey for business success in India. Business opportunities in India These Factors Make India Perfect for Business Expansion These compelling factors position India as an ideal destination for business expansion. Explore its booming economy and vast talent pool which are among the many advantages awaiting investors. Talk to an Expert Low Operational CostsIndia can offer your business cost-efficient operation with a fast-growing economic environment for fostering growth. Indian Financial SystemA robust financial system helps businesses procure adequate finance at competitive prices. Large Trade NetworkIndia’s large market offers a lot of scope for market expansion and collaboration. Large English Speaking Population India has a large pool of English-speaking workforce for effective communication with international business environments. Type of Business Entities in India These Types of Business Structures in India. Explore the different business structures in India to choose the business type that is most suited to your business requirements. Sole Proprietorship. This type of business entity is operated and managed by a single person. It is popular among small traders and merchants. Unlimited Liability Easy to set up and carry on Low operational cost General Partnership. Two or more people are required to start a general partnership who conduct business operations as per the Partnership Deed. Unlimited Liability Easy to Start Relatively Inexpensive Limited Liability Partnership. In this type of partnership, the partners have limited liability which makes them liable to losses only up to their level of investment. Low Startup cost Tax Advantages No Limit on the Number of Partners One-Person Company. This is a new type of business structure that gives single business owners complete control over their business while limiting their liability. Suited to Solo Entrepreneurs Higher Compliance Requirements Tax Advantages Private Limited Company. Startups prefer this type of business structure because it allows outside funding to be raised easily. Limited Liability High Start-up Cost Greater Compliance Requirements Public Limited Company. This type of business structure allows shares of the company to be offered to the general public. Minimum of 7 shareholders Limited liability Must have a trading prospectus Representative Office / Liaison Office. A liaison office is established by a company to promote exports and imports, market research, or technical collaborations. Need Government approval Not allowed to conduct trade Project Office. A project office is for foreign companies who plan to execute specific projects in Indian territory. Efficient project management on-site. Gain market insights. Establish a visible business presence. Branch Office. Foreign companies in the trade and manufacturing sectors are allowed to... --- > Analytix is more than just a business consultant - we are strategic partners helping your business grow and develop. - Published: 2024-03-29 - Modified: 2025-08-18 - URL: https://analytix.sa/about-us/ Home Analytix is more than just a business consultant - we are strategic partners helping your business grow and develop. About Analytix Arabia We help you to expand your business in Saudi Arabia With years of experience providing valuable support to businesses entering the Saudi market, Analytix is more than just a business incorporation specialist. We provide key business services to our clients including accounting and bookkeeping, tax and auditing, GRO and PRO services, and more. With an expert and highly experienced team of professionals, Analytix has expanded into one of the leading consultancy firms in Saudi Arabia, providing international business setup support. We make sure that our clients never have to look another way when it comes to quality business services. Years of Experience 0 + Countries In Operation 0 + Satisfied Customers 0 + Employees 0 + We’re your on-the-ground partner in Saudi Arabia. our team of local business experts help you set up and grow. Explore the unique advantages of establishing your business in Saudi Arabia. Discover how the Saudi’s Business environment and strategic location can boost your business growth. Shiju S PillaiFounder & Chairman Vision Analytix wants to be the first choice for any business planning to expand or restructure globally. We dream of becoming an International Business Consultant handling business setups across all countries. Mission We help businesses succeed by giving them practical advice and harnessing the latest technology. We are dedicated to making it easier to do business and helping companies grow. Analytix wants to be the partner you rely on as you work towards success Our Global Business Verticals Explore our comprehensive list of services which are spread across different business verticals, offering your business the support it needs from pre-incorporation to setup and expansion on the world stage. Our specialized services help make running your business efficient, profitable, and easy. Business Consultancy Business Planning Market Entry Strategy Feasibility Studies Financial and Accounting Accounting and Bookkeeping Audit & Assurance Tax Advisory Legal and Compliance Company Registration PRO/ GRO Services Regulatory Compliance Technology and IT Digital Signature IT Infrastructure Setup Software Development Marketing and Branding Brand Development Marketing Strategy Digital Marketing Management Consultancy Strategic Advisory Process Consulting Valuation Analytix Brand Values Top-rated in KSAWe rank amongst the best business consultancies in KSA with over 2500+ firms incorporated. International PresenceWith offices in KSA, Qatar, Oman, UAE, India, China, US and the UK - we are focused on helping businesses thrive everywhere. End-to-end SolutionsFrom incorporating your business to streamlining its day-to-day operations, we offer diverse services. IntegrityOur team can meet challenges without compromising their quality of service or professional integrity. CollaborationWe believe in collaborating with all stakeholders involved, be it government authorities, business class, employees, and customers to come up with solutions that serve everybody’s best interests. Our Key Persons We owe our success to the excellent team that together drives us forward. The passion and unity that defines Analytix is a reflection of their commitment, professional integrity and hunger for success. Shiju S PillaiFounder &... --- > Analytix is your one-stop-solution for all your business setup services in Riyadh. Aim for building your business in the capital city. - Published: 2024-03-29 - Modified: 2024-09-05 - URL: https://analytix.sa/business-setup-and-support-in-riyadh/ Company Formation Effortless Business Setup & Support Services in Riyadh. Analytix is your one-stop-solution for all your business setup services in Riyadh. Aim for building your business in the capital city with our secure company formation. Book a Free Consultation Proven Company Formation Services in Riyadh If you have ever wondered whether or not you would have been able to start your business in Riyadh, that train of thought can end here. With Analytix, your dreams of starting your business in Riyadh will be turned into an ever-present reality. Not only do we set the stage for you to initiate your company, but we also provide business support services in Riyadh, Saudi Arabia that will be your helping hand along the way. Benefits of Setting Up a Business in Riyadh Riyadh offers a favorable regulatory environment and a burgeoning ecosystem for startups and businesses. Saudi Arabia’s forward-thinking policies, such as Vision 2030, also centered in the capital aim to diversify the economy, reduce dependency on oil, and promote entrepreneurship. Riyadh hosts numerous business incubators, accelerators, and innovation hubs, making room for collaboration and providing resources for setting up business in Riyadh. Overall, the capital accessibility, coupled with its supportive ecosystem and strategic initiatives, makes it an ideal entrepreneurial destination for business setup in Riyadh. Talk to an Expert Robust EconomyRiyadh is equipped with sectors such as oil and gas, finance, construction, and healthcare, offering ample opportunities for growth. Investor-Friendly PoliciesSaudi Arabia grants investor-friendly policies, including tax incentives, and economic reforms favorable for foreign investment. Access to Skilled WorkforceRiyadh opens up to a talented and skilled job market, with many professionals joining to form a large workforce that accelerates business growth and innovation. Beneficial Living StandardsRiyadh offers great benefits of living for expatriates and their families making it a prime spot for both business owners and employees. Why Setup Your Business in Riyadh? Riyadh has claimed the leading positions within Saudi Arabia according to the latest city rankings. Its regional standing is equally worth noting, as it holds the fifth position in the Middle East. On a global scale, Riyadh has secured the 155th spot, underlining its presence and potential in the international arena. These rankings are a highlight of growing worldwide prominence for company formations in Riyadh. National Ranking in Saudi Arabia st Regional Ranking in the middle east 0 th Global Ranking Worldwide 0 th Not sure were to begin ? Schedule a free consultation with our Company Formation Expert Nishad Abdu Rahiman, Business Incorporation Specialist Schedule a call About Analytix Arabia We are the Prominent Business Consultants in Riyadh 15 years of experience has earned us the proficiency to become the superior business consultants in Riyadh. By offering all-rounder business support services that facilitate your corporate operations, Analytix is the partner you need to prosper in the competitive setting of Saudi Arabia. Whether it's company formation in Riyadh, compliance, or guidance, we are ready to accelerate businesses for a bright future. Range of Services to Boost Your Business... --- > At Analytix, we simplify pro services in Saudi Arabia. We have a team of experts who ensure your needs are met efficiently. Hire professional services in KSA - Published: 2024-03-29 - Modified: 2024-07-28 - URL: https://analytix.sa/pro-services-in-saudi-arabia/ Corporate Services PRO Services in Saudi Arabia (KSA). Experience ease of doing business in KSA with our PRO services guiding the way Schedule a Consultation Dynamic and Reliable PRO Services in KSA to Simplify Business Processes At Analytix, we simplify professional (pro) services in Saudi Arabia. We have a team of experts who ensure your needs are met efficiently. You can trust us to provide exceptional Saudi pro services to guide you through the dynamic Saudi business landscape. Our KSA pro services provide you with the help you need for business success. Benefits of Outsourcing PRO Service in Saudi Arabia Talk to an Expert Comprehensive Business SupportHelp with legal documents, permits, and business expansion. Effortless Document ManagementWe handle the process of translating and submitting foreign documents Hands-Off SupportWe manage time-consuming procedures giving you time to run your company. Expert Company Formation GuidanceWe guide you through the essential steps for forming a company Transparent and Trustworthy ServiceOur Saudi pro services build trust by communicating clearly and truthfully Efficient and Timely ResultsTimely and effective completion of tasks with a focus on results PRO services / Government Liaison services provided by Analytix Outsourcing PRO services to our experts will guarantee quick, legal compliance and easy approvals with efficient records. Our experienced PRO service can help you simplify business actions and make operations easier. Explore the tailored solutions Analytix can provide for your different business needs. Labor and immigration All kinds of visa applications, renewals and cancellations. Licensing and legal translations Services for signing up on government websites, such as QIWA, Mudad and Muqeem. Annual Renewals and Annual Filings Changes to trade licenses and share transfers. Payroll & WPS We Provide You with Seamless and Swift Visa Assistance in Saudi Arabia Our visa assistance services enable you to begin your successful journey to the Kingdom of Opportunities, Saudi Arabia. At Analytix, we make sure visa processing remains a swift and hassle-free process. We provide visa assistance for all types of visas in Saudi Arabia including: Essential features The online Saudi visa service makes it fast and simple to enter the Kingdom of Saudi Arabia for tourism or other purposes. Saudi Business Visit Visa We can easily help you find business chances in KSA. Our Saudi pro services help you to get business visit visas for various professional needs. Saudi Tourist Visa We make it easy for you to get tourist visas in Saudi Arabia. We ensure that your travel stays memorable and free of worries. Saudi Residence Visa Set up your home in Saudi Arabia using our Residence Visa services. Our KSA pro services help you process and get hold of immigration papers for living there. Saudi Work (Employment) Visa We provide special support for getting work visas in Saudi Arabia and make sure it's easy for you to move into the kingdom for work. Iqama Get help getting an Iqama in Saudi Arabia using our expert services. We can make it simpler for you. Our Locations. Analytix offers unparalleled service coverage in Saudi... --- > Our trusted group of business expansion and restructuring consultants in saudi arabia is dedicated to helping your business journey. - Published: 2024-03-29 - Modified: 2025-05-22 - URL: https://analytix.sa/expansion-and-restructuring-support-in-saudi-arabia/ Corporate Services Business Expansion and Restructuring Support in Saudi Arabia. Providing Top Corporate Restructuring and Expansion Services in Saudi Arabia to Strengthen Your Company's Growth. Schedule a Consultation Business Transformation Services to Help You Craft Your Success Story At Analytix, we are committed partners on your journey to success. Our trusted group of business growth and restructuring consultants is dedicated to helping your journey. With a record of success, we give you smart advice and made-to-order fixes to make your business do well in an ever-changing world. Explore all Possibilities with Our Exceptional Services Analytix offers you unparalleled expertise for Expansion and Restructuring Support in KSA, providing solutions for Saudi Arabia business transformation. Trust our comprehensive services to help you get the precise advice and support you need for efficient expansion and restructuring support in Saudi. Equip your business with a full suite of services designed for success at every stage of growth and consolidation. Empower your business with a comprehensive suite of services tailored for success in every stage of organizational expansion. Years of Experience 0 + International Market Presence 0 + Company Formations in KSA 0 + Professionals 0 + STRATEGIC ADVISORY Explore our services that provide you with all the support you need for business expansion in Saudi Arabia. We conduct thorough feasibility studies based on which strategic plans can be framed for transforming your business. Our expert market-entry strategizing, business planning, and cost optimization provide essential and comprehensive support for your organizational expansion. Scale up & Transformation Feasibility Study Strategy Formation & Alignment Market Entry Strategy Business Plan Cost Optimization PROCESS CONSULTING Businesses need to change from focusing on people to being process-driven enterprises. Our business turnaround specialists understand your requirements. They can recommend good ways to use machines for tasks, making things work better and meeting regulations. Internal Audit and Process Deployment TRANSACTION ADVISORY Let our entry and expansion consultants guide you with buying or selling a company in Saudi Arabia and help you navigate the whole process. Our expertise ensures smooth transactions and provides valuable advice which are tailored to your interests. Due Diligence VALUATION We find a company's true value by looking at its market position, potential, performance, and financial strength. Our expert consultants build dynamic financial models tailored to the client's needs, crucial for internal assessments, share capital restructuring, or when selling a company. Transaction Document Placement Benefits of Having Expansion and Restructuring Support in Saudi Arabia. Experience the benefits that an expansion and restructuring expert can provide in growing and reorganizing your business in Saudi Arabia. Improved Organizational Efficiency Our services can help your business optimize workflows and resource allocation while empowering your business to stay agile and responsive Streamlined Processes We help to identify and eliminate bottlenecks in your business to ensure work goes on smoothly and costs stay minimum Enhanced Financial Performance Improve the fiscal health of your business with our focused financial insights helping you to improve overall financial management Improved Decision Making Our data-driven insights and customized... --- > Setting up your factory in Saudi Arabia opens up a gateway into the Middle East market. Experience seamless factory setup services in Saudi Arabia with us - Published: 2024-03-29 - Modified: 2025-05-22 - URL: https://analytix.sa/factory-setup-in-saudi-arabia/ Corporate Services Factory Setup Services in Saudi Arabia. Experience seamless factory setup services in Saudi Arabia - where opportunity meets innovation Schedule a Consultation Why Choose Saudi Arabia for Factory Setup? At Analytix, we understand the pivotal role location plays in business success. Setting up your factory in Saudi Arabia opens up a strategic gateway into the Middle East market. With robust infrastructure, a favorable business environment, and a commitment to innovation, factory setup in KSA is your road toward manufacturing excellence. Talk to an Expert Strategic LocationSaudi’s proximity to key shipping routes sitting at the crossroads of Europe, Asia, and Africa Ease of Doing BusinessThe kingdom has worked hard to streamline regulations and reduce obstacles to doing business Abundant Natural ResourcesSaudi is rich in oil and gas leading to lower energy costs for manufacturing operations Stable Economy The Kingdom of Saudi Arabia has shown strong and consistent growth with a rapidly expanding private sector Documents Required for the Issuance of Building Completion and Occupancy Certificate Discover the essential documents that are needed to ensure a smooth and compliant conclusion to your construction project for setting up a factory in KSA. Safety plans for the facility approve d by MODON / Civil Defense Periodic maintenance contract for firefighting/safety systems Safety certificate for internal electrical connections and wiring from an approved consultant Completion certificate of insulation work from an approved consultant Provide a schedule of quantities for the firefighting system Environmental operating certificate Industrial license We Help You In Building Your Factory in Top Industrial cities in Saudi Arabia Our factory setup consultants help to position your business for success in the thriving industrial landscape of the Kingdom. From site selection to regulatory compliance, our expert team will be with you every step of the way to ensure seamless and efficient factory setup in KSA. Top Industrial cities Riyadh 1st. 2nd,3rd Industrial City Jeddah 1st. 2nd,3rd Industrial City Dammam 1st. ,2nd, 3rd Industrial City Sudair City for Industry and Businesses Qassim 1st. Industrial City Al-Kharj Industrial City Ha’il Industrial City Al-Ahsa 1st. Industrial City Al-Madina Al-Munawwara Industrial City Makkah Al-Mukarrama Industrial City Tabuk Industrial City Al-Baha Industrial City Assir Industrial City Najran Industrial City Jazan Industrial City Ar’ar Industrial City Hafr Al-Batin Industrial City Shaqraa Industrial City Al-Zulfi Industrial City Dhurma Industrial City Wa’ad Al-Shamal Industrial City Taif Industrial City Rabigh Industrial City 10 Steps to Start Steps for Setting Up a Factory In Saudi Arabia Step 1Apply to request land or ready-built factory from MODON Step 2Register for the lease agreement Step 3Get approval for the following by appointing MODON Approved Consultants (3rd Party) Approve master plan (Architecture & Electric Plans ) Approve safety plans Annual maintenance contract of safety equipment Step 4Apply for Inspection after factory construction is completed to obtain approval and operation license issuance Complete Safety standards Appointment of safety officer Step 5Apply for an Environment license from the Ministry of Environment through an approved consultant ( 3rd Party ) Step6An Industrial license with an under-construction factory... --- > Experience expert corporate guidance with our company dissolution services in KSA. We deal with all parts of a company’s liquidation process in Saudi Arabia - Published: 2024-03-29 - Modified: 2024-07-08 - URL: https://analytix.sa/company-dissolution-services-in-saudi-arabia/ Corporate Services Company Liquidation & Dissolution Services in Saudi Arabia. Experience a new level of corporate guidance with our company dissolution services in KSA Schedule a Consultation How Analytix can help you with the Company dissolution service? Trust our expert liquidators to deal with all parts of your company’s liquidation process in Saudi Arabia. Our method is designed to provide a quick, hassle-free closure to your business, providing the necessary documentation to dissolve your company in KSA cost-effectively. Analytix is known as one of the best companies offering business services in Saudi Arabia. Types of Company Deregistration Services We Offer Explore these company liquidation services in KSA offered by Analytix. Our expert liquidators will make sure that your company dissolution process in Saudi Arabia is smoothly carried out by ensuring compliance with all rules. These are the different company deregistration services we offer: Voluntary liquidationWe help you navigate the legal, operational, and financial complexities of voluntarily liquidating your company in Saudi Arabia. The company liquidation process can be a result of financial losses, changes in goals, or other reasons. As liquidators, Analytix will ensure a smooth transition for you during this pivotal business phase. Mandatory liquidationIn Saudi Arabia, mandatory liquidation of a company becomes necessary when it faces legal violations, insolvency, or other serious offenses. Analytix steps in to efficiently manage your company liquidation in KSA, ensuring that creditors are fairly compensated while adhering to all regulatory requirements. Know more about liquidation Service? Schedule a Call with our Expert Mohamed Afnas, Director Strategic Consulting Schedule a call Company Liquidation Process In Saudi Arabia, the company liquidation process can be initiated by the company's shareholders or legal authorities. The procedure requires compliance with various regulatory frameworks. From settling debts to notifying stakeholders, each step is critical. Our professional guidance will help you navigate the complexities and ensure a smooth dissolution. We adhere to all local regulations and safeguard the interests of all involved parties. Board of Directors meeting Submission of Application for Liquidation Publication of the Dissolution Decision Liquidator Acceptance Notice Period Bank Account Closure Final Tax Submission & Tax Deregistration Visa Cancellation & Settlement of Dues Liquidator Audit Report Liquidation Certificate Extensive Coverage Across Key Destinations in Saudi Arabia. Analytix offers unparalleled service coverage in Saudi Arabia, spanning major hubs such as Dammam, Riyadh, and Jeddah. No matter where your business operates, trust us for comprehensive and reliable support for company dissolution services in Saudi Arabia. Our office presence is available across: Company Dissolution in DammamWe have established our name as a prominent figure in the field of company dissolution in Dammam, from applying for liquidation in KSA to receiving the liquidation certificate. Know More Company Dissolution in RiyadhAnalytix provides easy and cost-effective services for company dissolution in Riyadh, making way for an efficient and fast company closure process. Know More Company Dissolution in JeddahWe are your go-to partner for company dissolution services in Jeddah providing feasible and integrated corporate solutions suited to your requirements. Know More Explore Our Professional... --- > Analytix is your expert service provider for business setup in the Special Economic Zone in Saudi Arabia. Contact us for setting up a free zone company in KSA - Published: 2024-03-29 - Modified: 2025-07-18 - URL: https://analytix.sa/special-economic-zones-in-saudi-arabia/ Company Formation Business Setup In Special Economic Zone. Analytix is your holistic service provider for business setup in the Special Economic Zone in Saudi Arabia. Contact us for setting up a free zone company in KSA. Schedule a Consultation About SEZ in Saudi Arabia (Free Zone in Saudi Arabia) Saudi Arabia has launched five Special Economic Zones (SEZs) to drive economic diversification. These zones provide distinct advantages, including tax incentives and foreign-friendly regulations for the first five years; the SEZs aim to attract global investments, promote innovation, and contribute significantly to the nation's economic growth. Employees and their families within the SEZs enjoy exemption from operational fees, along with special tax treatment following OECD principles to avoid double taxation. Talk to an Expert Benefits of Setting Up Company in Saudi Special Economic Zones. Reduced corporate tax rate Firms in SEZs benefit from a 5% tax rate, a major decrease from the standard 20%. Zero withholding tax There is no withholding tax imposed on the repatriation of profits from SEZs to foreign countries. Customs duty exemption Capital equipment and inputs within SEZs are not subject to any customs duties. The five Special Economic Zones (SEZs) Saudi’s five Special Economic Zones (SEZs) are geographically spread out and focused on different industries. The five SEZs are as follows: West - King Abdullah Economic City (KAEC) Located along the Red Sea, KAEC provides top-notch infrastructure, industrial zones, and a major port, making it a hub for global trade and investment. Essential features Region: Makkah Zone Size: 60 square kilometers, Largest SEZ in Saudi Arabia Boasts world-class facilities like King Abdullah Port, KAUST University, and Madinah Airport Centrally positioned on the Red Sea, in proximity to African and European markets. Focus sectors (ICT) - Electronic light manufacturing Pharmaceuticals Health and life science Automotive supply chain and assembly Consumer goods Aerospace Southwest: Jazan Economic City (JEC) JEC is strategically located on the Red Sea near the Yemeni border, offering accessibility to East African markets. Essential features Region: Jazan Zone Size: 24. 6 km2 Exploring opportunities for utilizing solar and wind power to meet the energy needs of the SEZ. Focuses on developing a multimodal logistics zone with seaport, airport, and railway transportation for regional connectivity. Focus sectors Agro-industry Metal Production Automotive Manufacturing Renewable Energy Food security Mineral market Central (Riyadh): Cloud Computing in King Abdulaziz City for Science and Technology (KACST) Located in the Innovation Tower at King Abdulaziz City for Science and Technology (KACST), this SEZ is the leading cloud computing center in the Middle East, serving as an innovation hub for businesses and government agencies. Essential features Region: Riyadh Zone Size: Not Specified Located centrally, serving as a technological catalyst collaborating with international cloud computing giants to accelerate technological advancements. Offers a flexible regulatory environment for testing and piloting new technologies. Focus sectors Information technology Cloud consulting services Data centers Cyber security AI advancements Research & Development Central: Special Integrated Logistics Zone (SILZ) In the central region, the Special Integrated Logistics Zone is situated... --- > Analytix helps you to open the gateway to efficiency and compliance with seamless government relations officer (GRO) services in Saudi Arabia. - Published: 2024-03-28 - Modified: 2025-08-18 - URL: https://analytix.sa/gro-services-in-saudi-arabia/ Corporate Services GRO Services in Saudi Arabia (KSA). Open the gateway to efficiency and compliance with seamless government relations officer (GRO) services in Saudi Arabia Schedule a Consultation Trust Our Government Relations Officer Services in Saudi Arabia to Power Your Business Journey Analytix is one of the foremost GRO service providers in Saudi Arabia. Outsourcing GRO services to our team of experts will help you fulfill all regulatory compliances and foster positive government relationships. Our GRO in Saudi Arabia is run by specialists who take care of compliance with government authorities so that you can focus on growing your business. The Role of Government Relations Officers Services in Saudi Arabia. In Saudi Arabia, a Government Relations Officer (GRO) is important for business success. They manage licensing and compliance for business concerns by ensuring smooth relations between clients and government authorities. A good GRO can help get your car registered, and employee documents attested, and process payments for government services. It helps businesses to run smoothly in Saudi Arabia by minimizing risks of non-compliance. Benefits of Outsourcing GRO Services to Analytix Analytix can make it simple for your business to work and conduct trade in Saudi Arabia. Outsourcing GRO services to us can provide these interesting benefits:Tell us what you need and want so we can give special answers just for you. Talk to an Expert Tailored SolutionsAnalytix offers personalized GRO services, adjusting to your special business needs for good government connections. Timely Visa RenewalsOur committed group makes sure visa renewals are dealt with quickly, reducing troubles for your workers Reduced Legal RisksAnalytix smartly controls government actions, lowering legal risks and errors in office work. Focus on Core ActivitiesHiring us for GRO services lets businesses focus on what they do best and our experts deal with all rules stuff. Adapting to Market ChangesKeep track of rule changes to make sure your business fits smoothly into the changing Saudi market. Establish a Trustworthy ImageAnalytix helps create a reliable company picture by making sure everything runs smoothly and follows rules. Not sure where to begin ? Schedule a Call With Our GRO services Expert Fayez Koya, Business Development Manager Schedule a call We Cover All Major Locations in KSA. Analytix offers unparalleled service coverage in Saudi Arabia, spanning major hubs such as Dammam, Riyadh, and Jeddah. No matter where your business operates, trust us for comprehensive and reliable support for GRO services in Saudi Arabia. Our office presence is available across: GRO Services in DammamWe have established our name as a prominent figure in the field of GRO services in Dammam, from regulatory compliance in KSA to fostering positive government relationships. Know More GRO Services in RiyadhAnalytix provides easy and cost-effective GRO services in Riyadh, making way for a smooth relationship between our clients and government authorities. Know More GRO Services in JeddahWe are your go-to partner for GRO services in Jeddah, providing feasible and efficient solutions suited to your requirements. Know More The GRO Expert You Were Looking For is Here Let... --- > Easy setup of Regional Headquarters in Saudi Arabia with Analytix. Contact us for streamlined establishment of RHQ in KSA. - Published: 2024-03-28 - Modified: 2025-05-22 - URL: https://analytix.sa/regional-headquarters-in-saudi-arabia/ Company Formation Regional Headquarters In Saudi Arabia. Easy setup of Regional Headquarters in Saudi Arabia with Analytix. Contact us for streamlined establishment of RHQ in KSA. Schedule a Consultation Understanding Regional Headquarters in Saudi Saudi Arabia has introduced a Regional Headquarters (RHQ) Program, aiming to attract multinational companies to establish their units in the Kingdom. The initiative, jointly developed by the Ministry of Investment (MISA) and the Royal Commission for Riyadh City (RCRC), encourages companies to set up an RHQ for enhanced global coordination and business operations. To qualify, entities must be foreign-registered, maintain 2 subsidiaries abroad, and have a regional administrative presence. The program emphasizes tax-efficient structuring and aims to have 480 companies open RHQs by 2030, contributing to Saudi Arabia’s economic growth. Talk to an Expert Key facts about setting up an RHQ in Saudi Arabia. Enjoy 30 years of exemption from paying taxes Under the Saudi RHQ programme, a company that sets up their regional headquarters in Saudi Arabia is granted 30 years of exemption from corporate income tax (CIT) and withholding tax (WHT). 10 years of exemption From Saudization Companies planning to establish an RHQ in Saudi Arabia enjoy a notable 10-year exemption from Saudization requirements, offering workforce flexibility and facilitating a smooth corporate venture. 180+ RHQs set up in 2023, Surpassing the target of 160 by 2025 In 2023, the RHQ initiative surpassed its target, with over 180 RHQs established, demonstrating the effectiveness in attracting international businesses well ahead of the 2025 goal of 160. Benefits of RHQ Saudi Arabia 30 year tax break & business-friendly regulations Enjoy 10-year exemption from Saudization requirements Issue unlimited visas for executives and employees The combination of strong governmental support, enticing financial incentives, and favorable business regulations positions Saudi Arabia as a strategic and attractive choice for international companies aiming to establish a regional headquarters. Companies can enjoy a range of incentives and benefits such as waiver of professional accreditation rules, eligibility for government tendering post-2025, and significant tax advantages, such as a 50-year tax holiday. These financial incentives contribute to a favorable and competitive financial setting for companies operating from Saudi Arabia. Beyond financial perks, businesses that start a regional headquarters in Saudi Arabia offer spousal work permits and an extended age limit of dependents up to 25 years old. Moreover, Saudi Arabia offers a cost-competitive business setting compared to many developed economies, with a relatively low cost of living and safe environment. About Analytix Arabia How Can Analytix Help in Setting up an RHQ in Saudi Analytix is your go-to guide to establish a regional headquarters in KSA. We offer company formation services along with indefinite business support services in Saudi Arabia. Over a decade of industry experience strengthens our strategic advice, regulatory compliance, and streamlines business processes, ensuring a smooth and successful transition for companies seeking to benefit from starting a Regional Headquarters in Saudi Arabia. Talk to an Expert Years of Experience 0 + International Market Presence 0 + Company Formations in KSA 0 +... --- > Start a journey towards business set up in Saudi Arabia by acquiring your business license in Saudi issued by MISA - Published: 2024-03-28 - Modified: 2024-11-30 - URL: https://analytix.sa/business-license-in-saudi-arabia/ Company Formation Business License in Saudi Arabia. Get the Green Light for Business Operations with Saudi Arabian Business License Book a Free Consultation An Easy and Comprehensive Guide to Saudi Arabia Business Licenses Start a journey towards business setup in Saudi Arabia by acquiring your Saudi business licenses issued by the Ministry of Investment of Saudi Arabia (MISA - previously SAGIA). We can help you simplify the process of getting a business license and operate within regulatory guidelines with ease. Stay ahead of trends with our expert advice and insights, helping your business thrive in the competitive Saudi environment. Navigating government departments can feel like a challenge. We understand your concerns and provide comprehensive licensing services required to obtain a business license in KSA. We can help you in getting a license, renew, or cancel it as well as cut down fines and costs to enjoy uninterrupted business activities in Saudi Arabia. Our licensing solutions for businesses are focused on business enterprises across different sizes and industries. The licensing process can be time and energy-consuming, which is why we are here to help you acquire the licenses and permits quickly to operate legally. Our consultants possess a deep understanding of the complex licensing landscape in Saudi Arabia covering commercial, industrial, professional, construction licenses, and more. Be it a local or foreign business, our licensing specialists ensure that our clients obtain their licenses quickly for legal operations in the Saudi Arabian market. We help clients save time and resources, reduce compliance risks, and enhance their overall business performance. Types of Business Licenses in Saudi Arabia There is a large variety of business licenses available in Saudi Arabia. These include Commercial, Professional, and Industrial licenses that target different business sectors. Discover the appropriate license for your business activity to achieve success in Saudi Arabia’s flourishing economy. Service License The Service License allows foreign companies to provide a range of services in Saudi Arabia including construction, technology, education, healthcare, tourism, etc. There is 100% foreign allowed for foreign investors allowing them to grow and diversify their business operations in Saudi. Requirements for Service License in Saudi Arabia The business should have been established outside of KSA for more than 1 year Minimum capital of SAR 25,000 Copy of Commercial Registration of the shareholding partner certified by the Saudi Embassy Foreign company’s financial statements of the previous year certified by the Saudi Embassy. Entrepreneurial license Designed with startups in mind, the Entrepreneurial License offers a range of benefits including uncomplicated regulations, reduced fees, and government support programs. This Saudi business license enhances opportunities for entrepreneurs and innovators and enables them to promote growth and development. Requirements for Entrepreneurial License in Saudi Arabia The entrepreneur should either present a patented idea, have VC backing, or a support letter from a government entity such as MISA, PIF, CODE, KAUST, TDF, etc An endorsement letter from a startup incubator Industrial license An industrial license is issued to foreign investors who wish to develop their manufacturing plant within... --- > Secure seamless entrepreneur license in Saudi Arabia with Analytix. Connect with us for an Entrepreneur license in Saudi Arabia’s requirements and more. - Published: 2024-03-28 - Modified: 2025-02-21 - URL: https://analytix.sa/entrepreneur-license-in-saudi-arabia/ Company Formation Entrepreneur License in Saudi Arabia. Secure seamless entrepreneur license in Saudi Arabia with Analytix. Connect with us for an Entrepreneur license in Saudi Arabia’s requirements and more. Schedule a Consultation About Entrepreneur License in Saudi Arabia Saudi Arabia Entrepreneur License, issued by the Ministry of Investment (MISA), grants entrepreneurs the legal right to operate, promoting supportive scenarios for business growth. Introduced to stimulate economic expansion, these entrepreneurship licenses streamline the establishment process, backed by MISA’s startup centers. This enables commercial operations within the nation and attracts global innovators. Adherence to predefined criteria facilitates a straightforward application process, promoting the establishment and expansion of new corporate ventures. This official document not only empowers entrepreneurs but also contributes to Saudi Arabia’s notion of Vision 2030. Talk to an Expert Advantages of Entrepreneur License. Obtaining an Entrepreneur License in KSA sets forth great advantages for both local and foreign investors. These licenses present a flexible environment for business development and innovation, offering several benefits that contribute to the growth and sustainability of future corporate setups in the kingdom. Streamlined regulation Licensed entrepreneurs enjoy streamlined administration and business operation. Minimal Fees Holding a valid license enhances the credibility of entrepreneurs in the market. No mandatory minimum capital requirements Accessibility to various resources and support networks the same as Saudi citizens. Government Recognition Entrepreneur license in KSA signifies recognition & approval by the Saudi Arabian government. Business Expansion Licensed entrepreneurs have the flexibility to expand their operations with official backing. Licensing Requirements For Entrepreneur License In Saudi Arabia Applicants need legal residency and must be 21 years old for the license Either a patented idea, VC-backed, or support letter from a government entity (MISA, PIF, CODE, KAUST, TDF) Documents validating financial standing with specified capital requirements Service Documentations Entrepreneurs must complete and submit the official application form for the Entrepreneur License. Submission of financial statements and evidence of a solid financial foundation is needed for the application process. Foreign entrepreneurs are mandated to engage and collaborate with a Kafil (Local Saudi Arabian Sponsor) to establish a local presence and support. This sponsor can be an individual or a company. Service Rules and Restrictions Strict adherence to Saudi regulations is imperative for successful Entrepreneur License acquisition, encouraging responsible entrepreneurship in Saudi Arabia. Both local and foreign entrepreneurs are eligible to apply. The Entrepreneur License in the Kingdom is sector-specific, and different types of company establishments may have specific requirements, particularly for public transportation services. Applicants are also required to demonstrate the financial capability to initiate and sustain their business operations. For business established outside of KSA for more than 1 year (not a sole proprietorship), a minimum capital of SAR 25,000 is required. Not sure were to begin ? Schedule a free discovery call to discuss Entrepreneur License procedure in Saudi Arabia Nishad Abdu Rahiman, Senior Business Consultant Schedule a call Other Services We Offer Corporate services GRO Services Accounting & Tax Company Liquidation & Dissolution Trademark Registration Factory Setup Business Expansion and Restructuring... --- - Published: 2024-03-28 - Modified: 2025-06-28 - URL: https://analytix.sa/business-sectors-in-saudi-arabia/ Home Business Sectors in Saudi Arabia. Explore Investment Opportunities Across Many Promising Business Sectors in Saudi Arabia Vision 2030 drives the growth of the Business sector in Saudi Arabia. Saudi Arabia’s plan for diversifying its economy from oil as part of Vision 2030 is encouraging robust growth across various business sectors. The kingdom has identified 15 sectors for investment ranging from agriculture and food processing to aerospace and defense. Make use of government initiatives aimed at developing technology hubs, world-class infrastructure, and logistics support and incentives to improve competitiveness. Types of Business Sectors in Saudi Arabia. Manufacturing. Saudi Arabia’s manufacturing sector is one of the fastest-growing in the world. In the past few years, there has been a 100% growth in industrial areas, which now spans 1. 62 million m2 Set up a manufacturing company in Saudi Arabia and align with Saudi Vision 2030’s goal of increasing the contribution of SMEs to 35% of GDP. Construction. Explore success in Saudi Arabia’s booming construction industry with the government investing in world-class infrastructure and development projects. These include the $ 500 billion smart city project NEOM and luxury tourism and luxury tourism company The Red Sea Global. There is a huge demand at present for construction services offered by international construction companies. Real estate activities. The real estate sector in Saudi Arabia is one of the most promising ones globally. By 2030, Saudi aims to complete the homeownership target of 70% and develop a built-up area of 1. 2 billion m2. There is a demand for 1. 5 million housing units to be met by 2030, creating unlimited opportunities. Transport and logistics. Saudi Arabia’s Transport and Logistics sector is a major focus of Vision 2030. Saudi’s strategic location makes it ideal to distribute goods across the Arabian Peninsula, the Levant, and East Africa. Its position in the Asia-Europe trade route helps in capturing 12% of global container trade. Events organization. Saudi Crown Prince Mohammed bin Salman launched the Events Investment Fund (EIF) in 2023 to transform KSA into a hub for global events. The industry is expected to grow 10% every year into a $ 17. 6 billion market. The 2030 World Expo and 2034 FIFA World Cup will be held in Saudi Arabia. Agriculture and Food-processing. Saudi Arabia aims to localize 85% of food processing activities by 2030. There is a large and growing local and regional market, with rising demand for KSA’s seafood, dates, and halal market. The well-developed supply chain ecosystem makes Saudi an ideal market. 
 Wholesale and retail trade. Saudi Arabia is the largest consumer market in the Middle East, with strong and rising demand, a stable economy, and excellent transport and logistics support. The Saudi Arabia Ministry of Commerce plans to invest $ 100 billion in trade infrastructure, with non-oil exports rising by 40% in the last 5 years. Healthcare and social work-processing. Saudi Arabia aims to become more focused on fitness and healthcare as part of Vision 2030. Healthcare and life sciences received 17. 7%... --- > We are one of the top audit companies in Saudi Arabia. Our team of experts is good at doing full accounting and bookkeeping services in saudi arabia. - Published: 2024-03-28 - Modified: 2025-01-31 - URL: https://analytix.sa/accounting-and-bookkeeping-services-in-saudi-arabia/ Corporate Services Professional Accounting, Taxation and Bookkeeping Services in Saudi Arabia. We provide our clients with a complete tax and accounting services package so that their business goes on worry-free. Schedule a Consultation Outsource Accounting and Bookkeeping Services in Trusted Hands We are one of the top audit companies in Saudi Arabia. Our team of experts is good at doing full accounting and tax services. They will help you understand the hard parts of Saudi Arabia's tax rules like VAT or taxes on withholding taxes on services. We give effective solutions so that you can concentrate on confidently expanding your business. Be worry-free with Analytix, your trusted helper for accounting and finance services in KSA. Our Financial Services in KSA are Comprehensively Designed for Every Business Need Right from setting up your business entity, our team at Analytix will help you handle the complexities of bookkeeping and tax compliance. We use the latest technology and have a skilled team, ready to offer simple solutions for even the most complex needs. Our services cover a wide range, freeing you up to focus on running your core business. Bookkeeping services in Saudi Arabia Utilize your data sources and our technology to deliver increasingly automated bookkeeping, while our dedicated bookkeeping compliance specialists provide valuable insights on business and bookkeeping matters. Our services include set-up of bookkeeping database support in e-invoice setting up recording of documents received from you reporting of financial data for management and group purposes according to your requirements preparation of statutory financial statements cooperation with statutory auditors. Tax compliance services Leverage our experience and technical knowledge of compliance to understand the reporting requirements and implement a commercially appropriate approach to local compliance, whilst mitigating the risk of non-compliance. Tax compliance services include: preparation of the necessary tax returns (CIT, VAT, WHT, Transfer Pricing other) Tax Advisory service on Zakat & Corporate Income Tax, Withholding tax, Income Tax for foreign and mixed entities, VAT, Transfer Pricing, Capital Gain, Real Estate Transaction Tax, etc. preparation of responses to tax notifications, tax reporting corrections, and communication with state authorities. Tax review services The Tax Reporting and Strategy team offers a review of bookkeeping records and tax treatment applied by the Company to certain transactions, a review of calculations and submitted tax returns, and the preparation of a report with a summary of tax risks and potential optimizations together with our recommendations and ideas. Identified sensitive tax issues are discussed with the Company during the meeting summarising our reviews. This service is recommended to all companies willing to: confirm the correctness of bookkeeping records and tax settlements prepared by internal or external accountants optimize tax compliance by identifying potential tax savings and effective tax planning prepare for the expected bookkeeping and tax audit. Benefits of Outsourcing your Accounts & Finance Cost-SavingYou get access to one of the best accounting services in KSA at a lower cost than when hiring a full-time accountant. Save the time and cost of the hiring processMany companies do not... --- > Are you a foreigner and ready to start business in KSA? Resident or an Expat, you can start a business in Saudi Arabia with Analytix. - Published: 2024-03-28 - Modified: 2025-05-17 - URL: https://analytix.sa/register-company-in-saudi-for-foreigner/ Company Formation Foreign Company Registration In Saudi Arabia. Effortless foreign company registration in Saudi Arabia, Analytix is your expert service provider of taxation, auditing, legal assistance and administration support. Book a Free Consultation Analytix can help with your Market Entry Efficiently Your entryway to the Saudi Market is made efficiently easier with Analytix. Whether new to the business landscape of KSA or planning to register a foreign company. From business setup services to foreign company registration in Saudi Arabia, we will be your corporate business guide. Benefits of starting a Foreign Company Registration In Saudi Arabia Talk to an Expert 100% ownershipForeigners can set up a business in Saudi Arabia and have 100% ownership Strategic Locations Saudi's strategic location provides access to European, Asian, and African markets Growing investor confidence35% of investors in Saudi 2022 were based outside the Kingdom Economic GrowthSaudi Arabia has one of the largest economies in the Middle East, making it an attractive place for investment Foreign Company Registration Options. Types of companies foreigners can register in Saudi Arabia To start a business in Saudi Arabia for foreigners, there is a range of company structures to choose from, serving diverse business needs and preferences. These choices enable strategic decision-making parallel to specific goals and market dynamics. Limited Liability Company. A Limited Liability Company (LLC) offers business owners a shield from personal liability for the debts and losses faced by the company. Limited liability Flexibility Pass-through taxation Read More. Branch of a Foreign Company. Establishing a Branch provides global companies with a presence in a new market, leveraging the parent company's reputation and resources. Global recognition Streamlined setup Centralized control. Read More. Special Economic Zone. Operating within an SEZ grants businesses tax incentives and regulatory advantages. Key benefits encompass Tax breaks Streamlined regulations Enhanced benefits. Read More. Regional Headquarters. Designating a Regional Headquarters enhances organizational control and coordination across a specific geographical area. Strategic oversight Regional influence Centralized management Read More. Premium Residency. Opting for Premium Residency offers individuals noteworthy residence benefits in a specific country. Exclusive privileges Streamlined residency Upgraded lifestyle Read More. As an Entrepreneur. Venturing for entrepreneurship demands innovation and risk-taking in the competitive corporate setting. Advanced creativity, Resilience Strategic vision Read More. Saudi expansion solution Secure Your Licenses Easily in Saudi Arabia with Analytix. Schedule a Consultation Secure your business licenses in Saudi Arabia effortlessly with Analytix. Our streamlined process ensures a hassle-free experience for your licensing needs to register a company in Saudi for foreigner or non residents. Business Licenses in Saudi Arabia Make Enquiry Service License Industrial License Agricultural License Real Estate License Trading License Entrepreneurial License Mining License Professional License 6 Simple Steps to Start Business in Saudi Arabia Easy steps to start a business in Saudi Arabia for foreigners Understand how to start a business in Saudi Arabia for foreigners with simplicity and confidence. Analytix provides all-inclusive services to register companies in Saudi for outsiders. 1. MISA RegistrationInitiate your business journey with Analytix with easy handling of the Ministry... --- > Experience ease of doing business with our range of corporate services in KSA designed to help business entities manage compliance, tax, visas, work permits, etc - Published: 2024-03-28 - Modified: 2025-06-12 - URL: https://analytix.sa/corporate-services-in-saudi-arabia/ Home Corporate Services in Saudi Arabia. Comprehensive Solutions for Business Success Experience ease of doing business with our range of corporate services in KSA designed to help business entities manage compliance, tax and accounting, visas, work permits, and more. Book a Free Consultation Trusted Corporate Solutions in Saudi Arabia. Analytix’s corporate services in KSA are used by a diverse group of clients to do business in the Kingdom efficiently. Our clients range from small and medium enterprises (SMEs) to large companies. We are the one-stop destination for any entity looking for business support services in Saudi Arabia. Since we began operations in 2008, Analytix has grown into a leading corporate services firm in the kingdom, known for the exceptional business support services we offer. Years of Experience 0 + International Market Presence 0 + Company Formations in KSA 0 + Professionals 0 + What Our Corporate Services Can Offer You Our business support specialists will handle your corporate compliance in Saudi Arabia efficiently. We handle all regulatory procedures at the Saudi Arabia Investment Ministry (MISA), Commerce and Industry Department (MOCI), and other authorities. We take a comprehensive view of your business to provide you with the best solutions. We aim to make Saudi your ideal investment destination. PRO Services GRO Services Accounting and Tax Services Trademark and Intellectual Property Registration Expansion and Restructuring Support Company Dissolution Services Factory Setup How Our Expertise Benefits Your Business Work with top corporate services in Saudi Arabia to run your business smoothly without any problems. Our goal is both near and far away because we work to link money investors with the best choices they can find. Top-rated in KSAOur best services are for customers and we care a lot about making them happy. International PresenceWe are in 8 countries and work with everyone around the world. This helps us give top-notch service. End-to-end solutionsOur services help a business from the start to finish, including setting up and ending it. In-depth Knowledge of the Saudi marketOur local experts will simply guide you through the Saudi business world. Schedule a call with our Corporate Service consultant Saudi Arabia is a global hotspot for business and foreign investments Schedule a call We Cover All Major Locations in KSA. From business support services to corporate services, we are available to entrepreneurs, investors, and all business entities across major locations in the kingdom. Our registered offices are present in these three major cities of Saudi Arabia: DammamWe have established our name as a prominent figure in Dammam and as a key provider of corporate services in Saudi Arabia, from factory setup to company dissolution services. Know More RiyadhAnalytix provides easy and cost-effective corporate services in KSA. Our office in Riyadh provides comprehensive services ranging from GRO / PRO services to expansion and restructuring support. Know More JeddahWe are your go-to partner for corporate services in Jeddah, providing comprehensive solutions for your corporate services needs in KSA. Know More Clients We Have Served. Which Corporate Services Are You Searching... --- - Published: 2024-03-12 - Modified: 2024-09-05 - URL: https://analytix.sa/register-company-in-china/ International Business Setup Register Company in China. Analytix offers expert assistance for cost-effective and compliant business setups in China Schedule a Consultation About China Business Setup Experience Hassle-Free Company Formation and Registration in China Analytix provides a comprehensive approach to company formation in China, offering solutions for rapid and lawful company incorporation in China. Our expert staff can help you navigate the Chinese business landscape effortlessly. We hand-hold you from the initial stage of company registration and ensure perfect compliance. Our customized advice helps foreign investors open a company in China without worrying about compliance, payroll, and taxation issues. Analytix pre-incorporation PEO services to enable your effortless transition into the Chinese market. We help you get hold of a global workforce immediately to begin business operations and plant your business firmly on Chinese soil. Business opportunities in China Our approach to company registration in China Analytix will help your company realize the immense possibilities offered by the Chinese market. We guide you in choosing the business structure most suited to your business plans in China. Our comprehensive services also include Talk to an Expert Payroll Setup and RegistrationWe facilitate the setup and registration of payroll systems to enable the smooth transition of employees from PEO to your company payroll. Employee Benefits ComplianceWe ensure continuity of benefits for employees transitioning into your new subsidiary. Legal DocumentationWe obtain necessary local employment contracts and legal documents for the establishment of your business entity. Employment Contract SupportWe offer strategic guidance to negotiate employment contracts with your staff. Business setup in China Your Guide to Efficient Business Setup in China. The registration process for setting up a business in China depends on the type of business entity, such as a joint venture, wholly foreign-owned enterprise, or representative office. In general, the whole process of setting up a company in China will take between three to six months. This will involve complying with the following government authorities: Ministry of Commerce State Administration of Industry and Commerce (SAIC) State Administration of Foreign Exchange (SAFE) State Administration of Taxation General Administration of Customs State Bureau of Quality and Technical Supervision China Business Entities Your Guide to Efficient Business Setup in China Explore the various types of business entities that are legally accepted in the United Arab Emirates. Depending on your business activity and business structure, one of these types would be most suitable China wholly foreign-owned enterprise (WFOE) A wholly foreign-owned enterprise (WFOE) in China is structured similarly to a limited liability company fully owned by foreign investors. It gives total control of operations to foreign management without the need to involve a local partner in the process. WFOEs are permitted to engage in a wide variety of activities, and hence they are a popular choice for investors seeking business incorporation in China. China sales office Establishing a sales office in China opens the way to potential opportunities and further develops and grows the company's presence in the market. Analytix can provide strategic guidance in establishing a sales... --- > You'll join a great place to build your skills and launch your career. - Published: 2024-03-11 - Modified: 2025-09-01 - URL: https://analytix.sa/career/ Join Our Team Discover Your Path to Success with Us. Become a member of our thriving community of over 150+ team members and help shape the future with us. Join us in our mission to provide innovative solutions that make a difference in the lives of our clients. By joining our team, you will have the opportunity to work with a dynamic and dedicated group of professionals, and contribute to the growth and success of our clients. If you are looking for an exciting career opportunity in finance, accounting, management consultancy, or audit support services Analytix Arabia Management is the right place for you. Competitive salary and benefitsOffer a competitive salary package and a comprehensive benefits package, including health insurance, and paid time off. Professional developmentProvide opportunities for employees to grow and develop professionally, through training programs, and opportunities for advancement. . Recognition and rewardsOffer recognition and rewards programs that celebrate and reward employee achievements and contributions. Work-life balanceOffer a supportive and flexible work environment that prioritizes work-life balance, including flexible scheduling options and paid time off. Job Vacancies For more information about job vacancies, please get in touch with us. Email ID recruitment@analytix. org hire@analytix. org Phone Numbers +91 95678 01710 +91 95670 99915 For GCC: +966 58 162 2597 CAN'T FIND THE RIGHT POSITION? Join our community of 250+ dedicated professionals and shape the future with us. 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Persistent Cookies remain on your personal computer or mobile device when You go offline, while Session Cookies are deleted as soon as You close your web browser. We use both session and persistent Cookies for the purposes set out below: Necessary / Essential Cookies Type: Session Cookies Administered by: Us Purpose: These Cookies are essential to provide You with services available through the Website and to enable You to use some of its features. They help to authenticate users and prevent fraudulent use of user accounts. Without these Cookies, the services that You have asked for cannot be provided, and We only use these Cookies to provide You with those services. Functionality Cookies Type: Persistent Cookies Administered by: Us Purpose: These Cookies allow us to remember choices You make when You use the Website, such as remembering your login details or language preference. The purpose of these Cookies is to provide You with a more personal experience and to avoid You having to re-enter your preferences every time You use the Website. Your Choices Regarding Cookies If You prefer to avoid the use of Cookies on the Website, first You must disable... --- > These terms and conditions set forth the general terms and conditions of your use of the analytix.sa website & any of its related products & services. - Published: 2024-03-10 - Modified: 2024-08-15 - URL: https://analytix.sa/terms-and-conditions/ Home Terms and Conditions These terms and conditions (“Agreement”) set forth the general terms and conditions of your use of the analytix. sa website (“Website” or “Service”) and any of its related products and services (collectively, “Services”). This Agreement is legally binding between you (“User”, “you” or “your”) and this Website operator (“Operator”, “we”, “us” or “our”). 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By accessing and using the Website... --- > Explore the complete process of business setup in Saudi Arabia, covering MISA licensing, documentation, approvals, and legal compliance for foreign investors. - Published: 2024-03-10 - Modified: 2025-09-30 - URL: https://analytix.sa/business-setup-in-saudi-arabia/ Home Business Setup in Saudi Arabia (KSA) with 100% Foreign Ownership. Business Setup in Saudi Arabia is now easier, simpler and faster. Whether you are a startup or a multinational company, understanding the steps and requirements will be easier! Book Free Consultation Our Strategic Partners Requirements for expanding your business to Saudi Arabia The requirements differ based on whether you are an established business or a startup: For Established Companies For Startups MISA Entrepreneurship License Application Commercial Registration from Home Country (legalized and embassy-attested) Audited Financial Statements of last 1-2 fiscal years (legalized and attested) Board Resolution expansion into Saudi Arabia (legalized and attested) Company’s Articles of Association (legalized and attested) Shareholders’ and Directors’ Passport Copies At least one year’s operating history Ministry of Commerce – Company Name Registration Proposed names for the company in Arabic and English Articles of Association (AoA) (for LLC) OR Branch Documents Drafted and Notarized Commercial Registration (CR) Application GM Appointment Signed Articles of Association (AoA)/ Branch Resolution Copy of MISA License Post-Incorporation Registrations GM Visit to Saudi Arabia Iqama Processing Ministry of Human Resources and Social Development (HRSD) account ZATCA VAT/Tax Registration Government Online Portal Registration: Absher, Qiwa, Muqeem, and Mudad Office Lease Agreement (Full Office Space) A physical office or coworking space is mandatory Expand your business in Saudi Arabia Initial Requirements Endorsement Letter from VC or licensed incubator Supporting Documents: Letter of intent, startup brief, pitch deck MISA Entrepreneurship License Application Copy of the founder(s) passport(s) National ID for any Saudi partner (if applicable) Summary of business plan or description of activity Email and contact details Ministry of Commerce – Company Name Reservation Proposed names for the company in Arabic and English Articles of Association (AoA) Drafted and Notarized Commercial Registration (CR) Application GM Appointment Signed Articles of Association (AoA) Copy of MISA License Chamber of Commerce Registration Copy of CR Sample of Company seal/stamp Post-Incorporation Registrations GM Visit to Saudi Arabia Iqama Processing Ministry of Human Resources and Social Development (HRSD) account Government Portals Activations ZATCA VAT/Tax Registration Office Lease Agreement (Physical or Coworking Space) Launch your startup in Saudi Arabia MISA Entrepreneurship License Application Commercial Registration from Home Country (legalized and embassy-attested) Audited Financial Statements of last 1-2 fiscal years (legalized and attested) Board Resolution expansion into Saudi Arabia (legalized and attested) Company’s Articles of Association (legalized and attested) Shareholders’ and Directors’ Passport Copies At least one year’s operating history Ministry of Commerce – Company Name Registration Proposed names for the company in Arabic and English Articles of Association (AoA) (for LLC) OR Branch Documents Drafted and Notarized Commercial Registration (CR) Application GM Appointment Signed Articles of Association (AoA)/ Branch Resolution Copy of MISA License Post-Incorporation Registrations GM Visit to Saudi Arabia Iqama Processing Ministry of Human Resources and Social Development (HRSD) account ZATCA VAT/Tax Registration Government Online Portal Registration: Absher, Qiwa, Muqeem, and Mudad Office Lease Agreement (Full Office Space) A physical office or coworking space is mandatory Expand your business in Saudi Arabia Initial Requirements Endorsement Letter from... --- > We like to collaborate to deliver unique and best-in-industry customer experiences. - Published: 2024-02-15 - Modified: 2024-07-23 - URL: https://analytix.sa/become-our-partner/ Partner with us. We like to collaborate to deliver unique and best-in-industry customer experiences. --- > Our all-inclusive business support services in Saudi Arabia provide the assistance you need to launch and start your business in Dammam. - Published: 2024-02-14 - Modified: 2024-09-05 - URL: https://analytix.sa/business-setup-and-support-in-dammam/ Company Formation Business Setup and Support in Dammam. Dream big with Analytix for your business setup in Dammam, Saudi Arabia. Analytix is your top aspirant for a secure and seamless company formation in Dammam. Book a Free Consultation No. 1 Company Formation Services in Dammam For You Our all-inclusive business support services in Saudi Arabia provide the assistance you need to launch and start your business in Dammam. Trust us from company inception to entrepreneurial expansion and beyond. Contact us for more information on how Analytix can be your strategic guide for business setup in Dammam and beyond. Benefits of Setting Up a Business in Dammam Dammam, the capital city of the Eastern Province in Saudi Arabia, is a prime destination for SMEs and MNCs alike, offering excellent opportunities for business setup in Dammam. Renowned for its strategic location, the city provides easy access to key markets, making it a pivotal hub for regional and international trade. Alongside its thriving and diversified economy, Dammam creates a conducive environment for businesses across various sectors. Explore the potential with our corporate services in Dammam. Talk to an Expert Strategic LocationProximity to major markets enhances logistical efficiency and global reach, making it advantageous for company formation in Dammam. Investor-Friendly PoliciesDammam embraces policies that attract regional and foreign investors, promoting a business-friendly atmosphere. Stability and SupportThe city offers a thriving environment and stable support for setting up business in Dammam. Global ConnectivityThe international connectivity facilitates seamless trade, business interactions and corporate services in Dammam. The Global Ranking of Dammam City In 2023, Dammam's startup scene showed significant promise, climbing 18 spots in the Global Ecosystem Index. The city holds an impressive national standing, securing the 3rd position in Saudi Arabia. Regionally, Dammam ranks 19th in the Middle East, showcasing its growing influence. On a global scale, the city has earned the 545th position worldwide, reflecting its emergence as a noteworthy player in the global startup landscape. National Ranking in Saudi Arabia 0 rd Regional Ranking in the middle east 0 th Global Ranking Worldwide 0 th Not sure were to begin ? Schedule a free consultation with our Company Formation Expert Mohammad Manzoor, Senior Business Consultant Schedule a call About Analytix Arabia Analytix is the Leading Business Consultants in Dammam With over 15 years of global management consulting expertise, we stand as a reliable business consultancy in Dammam. Our services extend beyond business setup in Saudi Arabia, addressing needs in private, public, and social sectors through comprehensive business support services for seamless operations. We Offer Wide Range of Services to Help Your Business in Dammam. Analytics provides various suites of comprehensive corporate services in Dammam. We offer a holistic corporate solution, trust us for setting up business in Dammam as well as expert structuring and resourcing, allowing your enterprises to thrive and succeed. GRO Services. Optimize your business operations and amplify your trade opportunities in Saudi Arabia with Analytix. Our professional GRO services in Dammam ensures compliance with regulations and cultivates advantageous government connections.... --- > Searching for a reliable provider to aid in setting up business in Jeddah? Our end-to-end services will be the help you to start your business in Jeddah. - Published: 2024-02-14 - Modified: 2024-09-05 - URL: https://analytix.sa/business-setup-and-support-in-jeddah/ Company Formation Business Setup & Support in Jeddah. Begin with Analytix and commence your Business setup in Jeddah. Let us join hands to strategize your action plan for company formation in Jeddah. Book a Free Consultation Company Formation Services in Jeddah You Can Trust Searching for a reliable provider to aid in setting up business in Jeddah? Our end-to-end business support services will be the help you need to start your business in Jeddah. Let us know how we can be of assistance in your journey. Stand out and stand proud with your business in Saudi Arabia. Benefits of Setting Up a Business in Jeddah Situated along the Red Sea and west of Mecca, Jeddah is a region of possibilities for setting up a business. Worldwide trade and commerce make their way through the sea and other means to the location, thus making Jeddah not just a gateway of pilgrimage but an entry to the Saudi Market. The promising profits attract job seekers and businessmen alike, making Jeddah a favorable environment for business operations and more. Additionally, Jeddah's landscape and infrastructure make it an ideal hub for industries ranging from logistics and shipping to hospitality, technology, and beyond. Talk to an Expert Strategic Placement The seafront provides the accessibility for many opportunities of commercial happenings. Favorable EconomyThe economic and tourism capital of the country has an ideal economy to boast about for corporate setup. Investor-Friendly PoliciesJeddah is also a land welcoming entrepreneurship and foreign investment through investor-friendly initiatives. Promising safetyA conducive environment for business operations and personal well-being makes it a right choice to start a business in Jeddah. Why Start Your Business in Jeddah? Jeddah holds the distinguished position of 2nd among Saudi Arabia's startup hubs, pointing to significance within the country's entrepreneurial landscape. Regionally, Jeddah stands out as the 13th in the Middle East, further emphasizing its prominence in the broader startup community. On a global scale, Jeddah's startup scene is recognized, securing the 394th spot worldwide, highlighting its Global presence and potential. National Ranking in Saudi Arabia 0 nd Regional Ranking in the middle east 0 th Global Ranking Worldwide 0 th Not sure were to begin ? Schedule a free consultation with our Company Formation Expert Shiljas, Senior Business Consultant Schedule a call About Analytix Arabia We are the Recognized Business Consultants in Jeddah The preferred business consultants in Jeddah is the label we have achieved due to our expertise in the field for 15 years. Our experience has been our compass to steer through paths and overcome any hurdle of corporate settings. We are able to impart the best business support services as well with our in-depth knowledge to navigate through the competition ever-present in Saudi Arabia. Suite of Services to Help Your Business in Jeddah. You can rely on Analytix for a variety of services to provide comprehensive support for boosting your business setup in Jeddah. Take a look at our range to determine whether we can assist you in ensuring the smooth running... --- - Published: 2024-01-25 - Modified: 2024-09-05 - URL: https://analytix.sa/blog/ Latest Blog from Analytix --- > See our latest media on events like IPA Event, Jubail Event, Makkah Event, IPA Cluster 4 Initiative, 15th Anniversary celebrations, etc - Published: 2024-01-25 - Modified: 2025-09-29 - URL: https://analytix.sa/media/ Media Analytix Sports Day 2025 united the team with fun, friendly competition, and lasting memories beyond the workplace. Analytix met SIPA (Invest Saudi) to boost Saudi-India FDI, exploring key sectors and Vision 2030 investment opportunities. Analytix visited RCJY to explore collaboration, supporting global investors in Saudi Arabia’s industrial and economic growth. Analytix Arabia hosted Chinese partner Vanzbon in Riyadh to strengthen collaboration and support Chinese expansion into Saudi Arabia. Analytix partnered with Alrajhi Bank to streamline Saudi market entry, enhance banking access, and drive sustainable business growth. Analytix advanced China-GCC partnerships, fostering Saudi market entry through strategic meetings, seminars, and targeted investor outreach. Our Managing Director, Mr. Nishad Abdu Rahiman, joined MISA at INNOPROM 2025, advancing Saudi-Russia industrial and strategic partnership opportunities. This World Environment Day, our team at the Indian Office took a meaningful step towards sustainability by planting trees at an institution dedicated to building the nation’s future. https://youtu. be/3csnk36s8Rw? si=e3fAODwQCX3D9IyI Analytix represented UAE and Saudi Arabia at SelectUSA 2025, fostering global business partnerships and GCC growth. https://youtu. be/pfMzcb9DBSM? si=moRypr-0e6DTm-UN We are pleased to announce the official inauguration of our new office in Riyadh, graciously inaugurated by Ambassador H. E. Dr. Suhel Ajaz Khan. We're excited to announce the opening of our new Riyadh office, inaugurated by Ambassador H. E. Dr. Suhel Ajaz Khan. We hosted a successful workshop in Doha, Qatar with 150+ attendees, focusing on strategies for succeeding in the Saudi market. We hosted a successful workshop in Dubai, UAE with 100+ attendees, focusing on strategies for succeeding in the Saudi market. https://youtu. be/H-gDs8tH-bc? si=RRerJu_UUKd5fWoO Celebrating 16 years of success with vibrant joy, heartfelt moments, and grand celebrations! We Analytix celebrated 16 years of growth, innovation, and unity! Thrilled to announce: Analytix featured in the Times of India! Thrilled to announce: Analytix featured in the Times of India! Global growth: Analytix expands with new office in the USA Analytix marks new milestone with operations launch in China Our strategic partners GloBlue visit our Analytix UAE office Analytix leadership visits Guangzhou,China to explore new business ventures https://youtu. be/V2YT3_gScfE? si=K6bh15la_WrrSAtF Analytix Jeddah hosts Iftar celebration with clients and strategic partners https://youtu. be/EBRgM_TfVlQ? si=72Pg_uvWz2gI-vwZ Analytix hosts Iftar in Riyadh! Breaking fast with our business family A Milestone achieved: Analytix celebrates 15 years of growth Analytix team visits Saudi Arabia's ministry of investment New Beginnings: Analytix inaugurates our new office in the UAE https://youtu. be/bbuwIXis_HY? si=NtZlY0QuglH7xgm0 Analytix partners with IPA for event exploring opportunities in Saudi Arabia https://youtu. be/NnCQTgOGtak? si=r7j-doDukNkrQvrU Exploring opportunities: Analytix conducts 'Doing Business in Saudi Arabia' event at Jubail https://youtu. be/RELQS0RY1Sk? si=jr-OBVhQJ7E4C8rq Celebrating 15 years of success: Analytix marks anniversary with new office inauguration in UAE https://youtu. be/P7HufekrgLc? si=rwLcCNWcum9hXx3F Analytix hosts event with TCA in UAE on Saudi business opportunities https://youtu. be/WgdTUvqB6e8? si=Q-yZpK9TmYxAUSf0 Analytix conducts successful 'Doing Business in Saudi Arabia' event in Makkah https://youtu. be/N0spk68zMjY Strengthening relationships: client Iftar meet 2023 at Analytix Riyadh https://youtu. be/526GEr3i0aw? si=ollbGI2HteEcG3hJ Analytix embraces Ramadan: celebrating relationships beyond the workplace --- > As a reputable partner guiding entrepreneurs through the Qatari market, we offer customized solutions for setting up or growing their companies. - Published: 2023-12-23 - Modified: 2025-01-27 - URL: https://analytix.sa/company-formation-in-qatar/ International Business Setup Register a company in Qatar. Discover the ease of business setup in Qatar with Analytix - your helper for easy growth providing valuable taxation, auditing, and legal support services Schedule a Consultation About Qatar business setup Explore Seamless Business Setup in Qatar In Qatar, Analytix is your window to smooth business establishment services. As a reputable partner guiding entrepreneurs through the Qatari market, we offer customized solutions for setting up or growing their companies. Our local knowledge, tailored service and focus on efficiency ensure that your organization enjoys a smooth business setup in Qatar. Business Opportunities in Qatar Qatar is Streamlined for Your Business Expansion International investment in Qatar is supported by these strong factors which make it easy to do business. The Qatar economy is fast-growing and offers diverse opportunities for investors looking for business expansion. Supportive government initiatives, world-class infrastructure, and a booming economy make Qatar ideal for business Talk to an Expert Dynamic EconomyThe booming and multi-dimensional economy of Qatar presents lucrative opportunities for businesses operating in different areas. Government SupportThe government is committed to developing economic growth through initiatives such as Qatar National Vision 2030. Strategic HubQatar is an important international hub due to its strategic location and excellent infrastructure. Infrastructure BoomThe nation provides huge opportunities in construction, hospitality, and allied industries. Type of Business Entities in Qatar Explore the Different Types of Business Entities Operating in Qatar. Explore the different business structures in Qatar and choose the business type that is most suited to your business requirements. Limited Liability Company (LLC). LLCs are the most frequently used vehicle for foreign investors setting up in Qatar. They offer limited liability and require a minimum of two shareholders and a maximum number of 50. Known as ‘WLL’ in Qatar Minimum share capital QAR200,000 Limited liability Read More. Joint Venture . This type of business entity refers to a partnership between Qatari nationals and foreign individuals or entities Allows Sharing of Resources Local Expertise No 100% Foreign ownership Read More. Branch Office. Foreign companies registered within this category are not required to have a local partner and may therefore be 100% foreign-owned. Exclusively for government-related contracts No local partner required 100% Foreign ownership Read More. Representative Office (LLC). A foreign company can register a ‘Rep Office’ to help promote itself in Qatar as well as to employ workers. 100% Foreign Ownership No need to file tax No need for a local partner Read More. Free Zone Company . Qatar has designated free zones where companies can operate with certain tax and customs benefits. These free zones are typically established for specific industries like logistics, technology, or manufacturing. Separate regulations and tax laws 100% Foreign Ownership 100% Repatriation of profits Read More. Mainland Company Registration. There are various benefits to mainland company formation including 100% foreign ownership and offering services across the Qatar mainland. 100% Foreign Ownership Limited liability No need for local partner Read More. Freezones in Qatar Setup Your Business in Qatar’s Attractive Freezones... --- --- ## Posts > Explore how AI and smart cities unlock new business opportunities in Saudi Arabia’s fast-growing digital economy. - Published: 2025-09-15 - Modified: 2025-10-01 - URL: https://analytix.sa/how-ai-and-smart-cities-drive-business-opportunities-in-ksa/ - Categories: Articles Saudi Arabia is shaping its future. The country is pouring billions into artificial intelligence and smart city projects to transform daily life and work. This change is creating significant opportunities for companies that are looking to grow in the region. From AI-driven traffic systems to IoT devices overseeing energy grids, technology is transforming cities in Saudi Arabia. Major global companies like Ericsson, Nokia, and stc Group are already collaborating with Saudi projects to build this infrastructure. For entrepreneurs and investors, this means that new markets are opening in sectors across healthcare, transportation, infrastructure, and urban planning. To help investors know more about the topic, read this blog, where we discuss how AI and smart cities create opportunities, featuring insights on leading projects, contributions from local and global companies, and answers to important questions for growing organisations. What role does artificial intelligence play in Saudi Arabia’s Vision 2030? Vision 2030 is Saudi Arabia’s strategy to minimise its dependence on oil revenue and develop a modern, diversified economy. One of the priority sectors considered in this strategy is technology – especially artificial intelligence. The government considers AI vital for transforming almost every sector. It’s not just about adding new tools. It involves creating smart cities, developing modern infrastructure, and training people in digital skills. The Saudi Data and Artificial Intelligence Authority (SDAIA) manages the country’s AI strategy. This includes the National Strategy for Data and AI, which sets specific goals: to become a global leader in AI by 2030, attract international talent, and develop local capabilities. Recent developments, such as NEOM and New Murabba, rely on smart grid systems, IoT devices, and smart transportation to manage urban development and resource management. For instance, Ericsson and stc Group have supported the rollout of 5G networks and strong ICT infrastructure, providing Saudi cities with a base to create new business models and services. What are the key features of AI in Saudi Arabia? AI is already operating in various Saudi cities in clear and practical ways. Here’s where its impact is most noticeable: IoT devices and infrastructure: Smart sensors track everything from water quality to building temperatures. These devices gather data that helps cities function more efficiently and respond more quickly to issues. Companies like stc Group are implementing extensive IoT infrastructure in key developments, connecting thousands of devices to form truly smart urban environments. Transportation and traffic management: AI systems assess traffic patterns instantly, adjusting signals to ease congestion. Some cities are testing self-driving cars and smart parking options that save time and fuel. Ericsson has implemented AI-driven network solutions that provide better user experiences in transportation systems. Urban development and urban planning: Planners use AI to create neighbourhoods that are safer, more eco-friendly, and better connected. Predictive models assist them in determining the best locations for schools, hospitals, and public spaces. New Murabba, a large mixed-use development in Riyadh, is being constructed with advanced communications and information technology at its core. Public safety: AI-powered cameras and sensors detect emergencies more quickly. These... --- - Published: 2025-09-15 - Modified: 2025-09-15 - URL: https://analytix.sa/tax-considerations-for-individuals-and-investors/ - Categories: Articles Saudi Arabia’s economy is growing rapidly, attracting investors and professionals globally. As the Kingdom evolves under the Vision 2030 strategy, it’s important to understand the tax system in Saudi Arabia for those looking to invest or work here. The tax system has distinct characteristics that are quite different from those in Western countries, so it’s essential for foreign individuals and businesses to understand their responsibilities. Whether you’re an expatriate worker, a foreign investor or planning to start a business, the tax system in Saudi Arabia has several key aspects. These include Zakat obligations, corporate taxes, VAT requirements, and withholding tax considerations. This blog will help you understand the main tax factors, compliance requirements, and effective strategies to successfully manage the Saudi tax system. Understanding Saudi Arabia’s Tax System – An Overview Saudi Arabia has a dual tax system that categorises taxpayers in specific ways. This unique system means your tax duties are mainly influenced by your nationality and the type of business structure you have. Saudi nationals and GCC citizens primarily pay zakat, an Islamic obligation, which is their main tax contribution. On the other hand, foreign-owned companies are subject to a corporate tax rate of 20%. The system gets more interesting when you look at what is taxed and what isn’t. The kingdom doesn’t charge personal income tax on salaries, making it attractive for expatriate workers. However, investment income, capital gains from securities, and business profits are subject to different regulations. Foreign investors must understand how these different income types are handled under Saudi law. In 2020, Saudi Arabia implemented a 15% value-added tax (VAT) and excise taxes on certain products such as tobacco and sugary drinks, adding another layer to the system. These indirect taxes apply to all residents and businesses in the Kingdom, regardless of nationality. The combination of these various tax types requires thorough planning and understanding. Saudi Residency Rules and Tax Implications Tax residency in Saudi Arabia has specific rules that can have a major impact on your obligations. The Kingdom assesses residency based on your physical presence and economic ties, meaning that spending significant time in the country can lead to tax residency status. An individual qualifies as a tax resident if they are in the country for at least 183 days in a calendar year or have a permanent home there. For expatriates and foreign investors, this status affects tax obligations, including filing requirements. Expatriates with Saudi residency permits (Iqama) usually qualify as tax residents. Foreign investors must be aware of their reporting obligations, particularly if they have tax obligations in their home countries. For example, US citizens still have to file US taxes regardless of their residency status in Saudi Arabia. This requires careful coordination between various tax systems to prevent double taxation problems. Specific Taxes and Their Impact Zakat and corporate tax are quite different. Zakat is charged at 2. 5% of net worth for Saudi and GCC nationals, while corporate tax is at 20% on taxable profits for foreign-owned businesses.... --- > This blog provides everything necessary to understand, plan, and start a sole proprietorship in Saudi Arabia. - Published: 2025-09-15 - Modified: 2025-09-19 - URL: https://analytix.sa/how-to-start-a-sole-proprietorship-in-saudi-arabia/ - Categories: Articles Starting a Sole Proprietorship in Saudi Arabia has changed tremendously over the last five years and is usually the easiest and most accessible business structure for both foreigners and beginners. Moreover, recent regulatory changes have removed many past challenges that made foreign investment difficult. Whether you’re a Saudi citizen starting your first business or a foreign investor looking for opportunities in the Kingdom, knowing the setup process will be beneficial for your market entry into one of the region’s fastest-growing economies. This blog provides everything necessary to understand, plan, and start a sole proprietorship in the Kingdom, discussing the legal framework, benefits, setup process, tax considerations, and cultural context to help aspiring entrepreneurs launch their business confidently. What is an Establishment in Saudi Arabia? In Saudi commercial law, a sole proprietorship is referred to as an ‘establishment’ or Mu’assasa Fardiya. This type of business structure is the simplest form of commercial entity, where a single individual has complete ownership and operational control, taking on all personal liability for business obligations. The legal structure for establishments comes from the Commercial Companies Law and the regulations set by the Ministry of Commerce. Unlike Limited Liability Companies (LLCs), which are separate legal entities with liability protection, establishments operate as part of the owner’s personal legal identity. This difference has major effects on liability risk, tax obligations, and compliance requirements. The data from the Ministry of Commerce shows that establishments make up the majority of all new business registrations in Saudi Arabia, indicating their popularity among entrepreneurs. Their legal status makes them ideal for professional services, consulting companies, small-scale retail operations, and tech startups that have low initial capital requirements. Foreigners can now set up their entities under the new Foreign Investment Law, which lifted previous restrictions on foreign ownership in many sectors. This change in regulations has created significant opportunities for foreign entrepreneurs wanting to enter the Saudi market. Features and Benefits of Starting a Sole Proprietorship in Saudi Arabia Starting a sole proprietorship in Saudi Arabia offers clear benefits, especially for those in search of a simple business structure: Simplified Registration Process: The registration for proprietorships generally takes 3-7 business days for standard applications. The process is online, efficient, and affordable. The Ministry of Commerce’s online portal makes the process simpler. 100% Operational Control: Single ownership removes the need for discussions with partners, board meetings, or approvals from shareholders. This autonomy allows quick decision-making and swift execution of strategies, which is crucial during fluctuations in the market and shifts in business direction. No Minimum Capital Requirements: Unlike LLCs, which require a significant minimum capital requirement for most activities, establishments can start with the funds they have. This ease of access has helped entrepreneurs to start their businesses with initial investments even below SAR 50,000. Reduced Compliance Burden: Establishments have comparatively fewer regulatory reporting requirements than corporations. This usually cuts administration costs by 40-60% compared to more complex entity structures, which is ideal for startups and small-scale businesses. Flexible for Various Business Activities:... --- > Understanding the business etiquette in Saudi Arabia is crucial for any entrepreneur or investor who wants to succeed in the Kingdom. - Published: 2025-09-15 - Modified: 2025-09-19 - URL: https://analytix.sa/business-etiquette-in-saudi-arabia/ - Categories: Articles Every country has its own culture and ways of doing business, and so does Saudi Arabia. Understanding the business etiquette in Saudi Arabia is crucial for any entrepreneur or investor who wants to succeed in the Kingdom. Saudi Arabia is a blend of traditional values and rapid modernisation, forming a unique business culture that requires cultural awareness and respect. The Kingdom’s business environment is guided by the principles of relationship-building, mutual respect and cultural sensitivity. Whether you’re planning a business setup in Saudi Arabia or expanding your current operations, understanding the local Saudi business etiquette can make a whole difference between success and missed opportunities. That is why we have put together this guide for you, which provides practical tips, cultural insights, and essential etiquette expectations to assist you in confidently managing Saudi business environments. Understanding Saudi Business Culture and Communication Personal relationships serve as the backbone of the business culture in Saudi Arabia. Building trust comes before business, and this takes time and respect for local culture. Hierarchy is important in all business interactions, where age, experience, and position are highly respected. In Saudi business settings, communication is usually formal and indirect. It is important to read between the lines, understand the cues, as direct refusals are rare. Being patient is crucial for interpreting responses and reaching agreements. Exchange business cards with your right hand, paying close attention to the person’s name and title. Make small talk about family, health, and general well-being, but refrain from asking personal questions until you have built a rapport. Be very careful with sensitive topics such as regional politics, personal finances, or religious practices and consider avoiding talking about them altogether. Proper Greeting Protocols and Language Etiquette Although English is the main language used in Saudi Arabia’s business environment, using Arabic greetings shows cultural respect and strengthens professional connections. The traditional Islamic greeting "As-Salamu Alaykum" (peace be upon you) promotes goodwill in every business setting, no matter how well you speak Arabic. Key phrases that build instant rapport are: Sabaah al khayr (Good morning) and Masaa' al khayr (Good evening) for everyday conversations. Forsa sa'eda or Tasharrafna (Nice to meet you) when meeting someone new. Ismii... (My name is... ) for when introducing yourself. Min fadlik (Please) and Shukran (Thank you) for polite interactions. Tusbih ‘ala khayr (Good night) for farewells at night. When meeting Saudi business partners, men usually exchange firm handshakes, while making direct eye contact and smiling genuinely. Women in business should wait for their counterparts to start their greetings, as this respects the cultural norms of interaction. Using the right titles and honorifics shows professionalism and cultural sensitivity. Being reliable is important for lasting relationships. Keeping promises, staying in touch regularly, and respecting local traditions help build the trust needed for effective business in the Kingdom. Dress Code and Business Attire Business attire in Saudi Arabia reflects conservative values while still maintaining professional standards. Men are expected to wear well-tailored dark coloured suits with long sleeves and full-length trousers,... --- > The Middle East is undergoing transformation and emerging as a central hub for global business setup, with Saudi Arabia and the UAE being equally attractive destinations. - Published: 2025-09-02 - Modified: 2025-09-10 - URL: https://analytix.sa/uae-vs-ksa-where-should-foreign-companies-expand-first/ - Categories: Articles The Middle East is undergoing transformation and emerging as a central hub for global business setup, with Saudi Arabia and the UAE being equally attractive destinations. Both countries have fast-growing economies, driven by ambitious reform plans, such as the Vision 2030 initiative in Saudi Arabia and the UAE’s extensive diversification efforts. Multinational companies looking to set up a foreign branch in Saudi Arabia or expand to the United Arab Emirates face unique benefits and challenges in each market. However, ultimately, the question comes down to which country is right for your business. A question that we get asked a lot by our clients. So, in this article, we will evaluate both markets based on strategy, regulations, costs, and business culture, providing you with the insights necessary to make the right decision for your foreign investment. Strategic Differences Between the UAE and Saudi Arabia Saudi Arabia is the largest economy in the Middle East, supported by a large domestic market of over 35 million people and extensive efforts to diversify its economy. Vision 2030 has sped up the reforms in sectors like technology, tourism, entertainment, and renewable energy, while the country’s abundant oil resources maintain economic stability. Opportunities open up for companies focusing on major domestic consumption and government-led megaprojects when doing business in Saudi Arabia. The UAE plays a different role – it positions itself as a hub for global trade, finance and innovation. Dubai’s position as a regional business gateway, along with the growing importance of Abu Dhabi’s financial sector, provides international companies with quick access to established networks across Africa, Asia, and Europe. Thanks to its small geography and world-class infrastructure, the Emirates supports efficient operations across multiple markets at the same time. Geographical location impacts how each country accesses markets. Saudi Arabia’s borders with Iraq, Jordan, and other GCC countries offer overland trade routes, whereas the UAE’s coastline infrastructure supports maritime trade. Both countries gain from the continuous integration efforts of the Gulf Cooperation Council, but their approaches to improving regional connectivity differ greatly. Business Setup and Regulations The UAE is known for its efficient company formation processes, especially with many free zones that allow 100% foreign ownership and quick licensing. Dubai International Financial Centre, Abu Dhabi Global Market, and sector-specific free zones offer specific regulatory frameworks that can finalise business setups in just days or weeks. Saudi Arabia has significantly updated its regulatory framework through the Ministry of Investment, allowing 100% foreign ownership in most sectors and considerably reducing bureaucracy. The Saudi Arabian General Investment Authority (SAGIA) has digitized numerous processes and implemented business-friendly policies to attract foreign businesses. While setting up in the Kingdom still needs more regulatory approvals than the UAE free zones, these additional steps often reflect its focus on sustainable, long-term growth for new business operations. Recent reforms in Saudi Arabia have helped many sectors, including fintech, logistics, and renewable energy, with the government offering incentives for foreign investment. Companies wishing to open a foreign branch find both countries to be investor-friendly.... --- > The Cloud Computing Special Economic Zone is Saudi Arabia’s boldest initiative to speed up digital transformation as part of Vision 2030. - Published: 2025-08-22 - Modified: 2025-08-22 - URL: https://analytix.sa/cloud-computing-special-economic-zone/ - Categories: Articles The Cloud Computing Special Economic Zone is Saudi Arabia’s boldest initiative to speed up digital transformation as part of Vision 2030. This dedicated zone offers real opportunities for global tech companies to set up their operations in one of the fastest-growing digital markets globally. Here’s an interesting fact: The zone aims for $13 billion in investments in data and AI sectors by 2030. It currently has more than 400 data centers and offers special incentives made specifically for both global and local investors who want to benefit from the Kingdom’s digital revolution. This guide outlines the practical steps and insights you need for success in this special economic zone. About Cloud Computing Special Economic Zone Cloud Computing SEZ is a virtual economic zone located in Riyadh’s Innovation Tower at King Abdulaziz City for Science and Technology (KACST). Saudi Arabia made this zone to accelerate digital transformation and draw in leading global cloud companies. The zone operates under governance models that match the goals of Vision 2030. It is directly linked to the Kingdom’s strategies for economic diversification while prioritising an open tech ecosystem. The SEZ aims to attract cloud computing companies, data centers, and AI companies looking to build digital infrastructure throughout Saudi Arabia. This location is important for Saudi Arabia’s ambition to be the technology hub of the region, bridging local creativity with global expertise. Advantages of Cloud Computing SEZ The Cloud Computing Special Economic Zone provides practical advantages that make business setup attractive: Tax Benefits: Only 5% corporate tax for 20 years, along with no customs duties and no VAT on operations within the zone. Infrastructure Access: Get electricity for $0. 05/kWh, easy company registration, and advanced digital infrastructure. Regulatory Flexibility: Work in a business setting that accommodates both global cloud providers and smaller firms setting up data centers throughout Saudi Arabia. Talent Mobility: Avoid paying expat levy for employees and families, along with easier processes for relocating staff. Security Standards: Operate within established data security guidelines and Safe Harbor rules that protect your business and clients. Network Integration: Connects you with other economic cities like NEOM and King Abdullah Economic City, positioning your business at the heart of Saudi Arabia’s digital network. Multi-Sector Growth: Grow quickly in finance, healthcare, e-commerce, and logistics by using innovations that work across all the sectors. Why invest in Cloud Computing Special Economic Zone The investment opportunity in the Cloud Computing SEZ is compelling: Market Expansion: The cloud service market is expected to rise from $2. 6 billion in 2024 to $7 billion by 2030. The SEZ aims to secure a large share of the Kingdom's ICT spending by 2030. Business Benefits: Get access to 100% foreign ownership, attractive tax benefits, and fast business registration. Growing Demand: Access the rising demand from a large user base, significant government digitalisation projects like NEOM and smart cities, along with the need for local data storage. Geographic Advantage: Utilise Saudi Arabia’s strategic location connecting global trade routes as your gateway to the Middle Eastern region.... --- - Published: 2025-08-21 - Modified: 2025-08-21 - URL: https://analytix.sa/saudi-arabias-jubail-operates-worlds-largest-smart-irrigation-system/ - Categories: Daily News RIYADH: Jubail Industrial City in Saudi Arabia has launched the world’s largest integrated smart irrigation network, according to the Royal Commission for Jubail and Yanbu (RCJY). This advanced irrigation system is controlled by a central hub that oversees more than 12,200 smart devices and handles nearly 1. 2 million signals every day. The network spans 11,600 km of pipelines and provides around 2. 8 million cubic meters of recycled treated water for irrigation each month. This technology has cut the operation and maintenance costs by more than 35%, boosting efficiency and preserving natural resources. This system serves as a national example for advancing Saudi Vision 2030’s objectives for environmental sustainability and digital transformation. By improving water usage, increasing vegetation, and supporting the Saudi and Middle East Green Initiatives, the project helps to fight climate change in the area. RCJY’s operations and maintenance manager pointed out that the smart network optimises resource usage and serves as a model for other cities looking for sustainable options. The effective combination of digital monitoring and control with extensive environmental infrastructure shows Saudi Arabia’s dedication to sustainability and innovation in city management. The City intends to share this knowledge with other government sectors to increase the influence of smart environmental solutions. --- > In this blog, we walk you through everything you need to know about Special Integrated Logistics Zone (SILZ). - Published: 2025-08-20 - Modified: 2025-08-20 - URL: https://analytix.sa/special-integrated-logistics-zone-in-saudi-arabia/ - Categories: Articles Saudi Arabia is making significant efforts to establish itself as a major player in global logistics with the Special Integrated Logistics Zone (SILZ). This innovative logistics centre is strategically located in Riyadh, combining world-class infrastructure, advanced technology, and efficient regulations. All these initiatives are part of the Kingdom’s strategy to attract investors and companies looking for smooth supply chain operations. In this blog, we walk you through everything you need to know about SILZ’s unique advantages, investment opportunities, and how it can help your business grow in the region. About Special Integrated Logistics Zone The Special Integrated Logistics Zone SILZ is the first of its kind in Saudi Arabia, located next to King Khalid International Airport in Riyadh. This strategic location provides a direct connection to one of the busiest airports in the region, making it an ideal gateway for international trade. The zone uses advanced technology along with world-class regulatory standards to promote an environment where businesses can flourish with fewer operational challenges. What makes SILZ unique is its combined connectivity strategy, which links air, rail, and road networks into a single system. This multimodal transport network allows for an efficient movement of goods through different channels, minimising transit times and operational expenses for businesses. The zone is specifically designed to cater to major regional markets, using Saudi Arabia’s strategic location as a link between Europe, Asia, and Africa. Advantages of SILZ SILZ offers significant benefits to attract international investors and businesses: Prime Strategic Location: Immediate access to King Khalid International Airport through a bonded corridor removes usual transport delays and customs issues. Exceptional Tax Benefits: Businesses benefit from a 50-year tax exemption with 0% corporate income tax on eligible activities, plus VAT exemptions and customs duty waivers on imported goods. Complete Foreign Ownership: Businesses are allowed to have 100% foreign ownership with flexible Saudization criteria, granting them operational freedom that is rarely available in the region. Rapid Processing: The clearance and certification of goods happen within four hours of arrival, much quicker than other logistics zones in the Middle East. Specialised Infrastructure: The zone serves various industries such as light manufacturing, trading, aerospace, pharmaceuticals, and luxury goods with facilities built for specific purposes. Advanced Technology Integration: The digital infrastructure guarantees smooth supply chain management, real-time tracking, and effective connectivity in all operations. Why Invest in Special Integrated Logistics Zone in Saudi Arabia? Vision 2030 is putting efforts to establish the Kingdom as a major logistics hub, and SILZ is essential for this strategy. The zone’s importance lies not just in its infrastructure but also in the economic opportunities it creates for investors. The location advantage is immense – SILZ allows access to more than 5 billion customers within an eight-hour flight radius covering Europe, Asia, and Africa. This connectivity turns the zone into a natural distribution hub for companies wanting to operate across several continents from a single location. Leading global companies have already understood this potential, with industry leaders such as Apple and Lenovo establishing their regional... --- - Published: 2025-08-18 - Modified: 2025-08-18 - URL: https://analytix.sa/saudi-arabia-uses-ai-and-immersive-tech-to-boost-tourism-sector/ - Categories: Daily News RIYADH: Saudi Arabia is rapidly advancing the adoption of Artificial Intelligence (AI) and immersive technologies, including augmented reality (AR) and virtual reality (VR) to reshape its tourism industry as part of the Vision 2030 plan. The Kingdom is incorporating smart technologies in major locations, including key projects such as Neom, the Red Sea Project, Diriyah, Qiddiya, and New Murabba, to improve visitor experiences and diversify its economy away from oil. AI-powered systems are increasingly used for custom trip planning, biometric travel and immigration processes, and IoT-enabled accommodations. Augmented Reality (AR) and Virtual Reality (VR) are used to create engaging cultural narratives and interactive experiences at historical and entertainment venues. Latest reports show that 87% of Saudi travellers use generative AI tools like ChatGPT and Gemini for planning and managing holidays. Furthermore, 46% rely on AI assistants to explore new activities, and 31% use them to improve their travel itineraries. The National Tourism Strategy has ambitious goals: 150 million visitors yearly and a rise in tourism’s GDP contribution from 3% to 10% by 2030. Advanced technologies promote more efficient, sustainable, and engaging tourism, and help Saudi Arabia become a global tourism hub. Experts say that using AI and immersive tools leads to smarter, more responsive services, improving tourist satisfaction and helping to preserve the Kingdom’s rich heritage while boosting economic growth. --- > Continue reading our blog for a brief breakdown of the setup process, financial incentives, and reasons to opting for Al Jazan special economic zone - Published: 2025-08-18 - Modified: 2025-08-18 - URL: https://analytix.sa/jazan-special-economic-zone/ - Categories: Articles The Jazan Special Economic Zone is Saudi Arabia’s main entry point to the global markets, located on the Red Sea coast where over 13% of the world trade passes through. This premier economic zone acts as the South Gateway to the world’s markets due to its significant geographical location, making it a key centre for international businesses looking for access to three continents. Modern infrastructure, attractive tax incentives, and simplified business registration have made Jazan city an attractive place for foreign investment. Continue reading our blog for a brief breakdown of the setup process, financial incentives, and reasons why smart international companies are opting for Al Jazan Saudi Arabia for their business growth. About Jazan Special Economic Zone Jazan SEZ is an industrial and logistics hub supported by the government, situated on the Saudi Red Sea Coast, aimed at promoting economic diversity and accelerating industrial growth. The zone is managed by the Royal Commission for Jubail and Yanbu, which aligns with the objectives of the ambitious Vision 2030 initiative. The industrial city giga-project aims to raise the private sector’s role in the economy and attract new foreign investments. The zone includes several development zones such as the vast Jazan Economic City complex and dedicated industrial zones. The project spans over 260 sq. km in the Jazan region, with the city set to be the first industrial city to receive LEED Platinum certification for its proposed plan and design in 2024. Major sectors include heavy industry, energy production, advanced logistics, manufacturing, renewable energy projects, and petrochemicals, all supported by the existing Jazan Economic City Port infrastructure. Advantages of Jazan SEZ Strategic Location Benefits: Prime position on the Red Sea connecting trade routes between Asia, Europe and Africa Deep-water port and modern airport facilities allowing quick import/export activities Direct access to major shipping routes Financial Incentives: No VAT for eligible businesses Corporate tax is fixed at just 5% for 20 years Full exemption from import and export duties No labour levy obligations for foreign employees Infrastructure and Operations: Long-term land lease options available for up to 50 years Competitive land prices start at just 4. 5 SAR per square meter Modern utilities and the integration of sustainable energy A simplified registration system minimising bureaucratic delays 100% foreign ownership rights with no limits on capital repatriation Business Environment: Strong backing for innovative and cloud computing projects Accommodation for SME startups and large-scale industrial investors Advanced telecommunications and digital infrastructure Close to key partners such as Saudi Aramco operations Why Invest in Jazan Saudi Arabia? Regional Gateway: Over 13% of global trade passes through the region, offering exceptional access to international markets across three continents. Fast-Growing Industrial Cluster: Major growth sectors such as mining operations, advanced manufacturing, comprehensive logistical services, renewable energy projects, traditional energy production, and petrochemical processing. Business-Friendly Environment: Open regulatory framework, quick licensing processes, and dedicated support from the Royal Commission authority and top industry partners promote an ideal investment environment. Sustained Investment Flow: The zone now features $23. 4 billion... --- > Saudi Arabia has officially opened its doors to foreign property ownership with the new property law in Saudi Arabia. Read more. - Published: 2025-08-18 - Modified: 2025-08-18 - URL: https://analytix.sa/new-property-law-in-saudi-arabia/ - Categories: Articles Saudi Arabia has officially opened its doors to foreign property ownership with the new groundbreaking property law in Saudi Arabia, which changes the Kingdom’s real estate landscape. The landmark law of Real Estate Ownership by Non-Saudis was released on July 25, 2025, in the official gazette. The law will take effect 180 days after its publication, indicating a historic change that supports Vision 2030’s goals for economic diversification. This property law in Saudi Arabia is one of the most important reforms for foreign investment in decades, allowing international buyers to own real estate in most parts of the Kingdom for the first time. Key Takeaways: Foreigners, both individuals and companies, are allowed to own property across Saudi Arabia under the new Law. Makkah and Madinah are designated special zones – individual foreign ownership is restricted; however, there are some exceptions for corporate. Complete registration with the Real Estate General Authority is required; violations will result in fees and penalties. The law will take effect in January 2026, after a 180-day activation period. In this blog, you will get to explore which regions are available for foreign buyers, what kinds of properties you can own and the steps to secure your investment in Saudi Arabia’s developing real estate market. Who is a “Non-Saudi” Under the New Law? The new legislation clearly defines non-Saudis, which are categorised into three main groups. Foreign individuals are anyone who doesn’t possess Saudi citizenship, irrespective of their residency status. Non-listed companies that have foreign shareholders, licensed investment funds, and special-purpose entities are also considered non-Saudi entities by this law. International organisations and foreign-controlled businesses in the Kingdom are also part of this definition, providing extensive opportunities for corporate real estate investment. Where Can Non-Saudis Own Property? The new property law in Saudi Arabia will permit the acquisition of real estate only in certain areas specified by the Real Estate General Authority. The initial focus is on high-demand commercial and residential markets in cities like Riyadh and Jeddah. However, there are still some geographic restrictions. Foreign individuals legally residing in the Kingdom can own a single residential property, as long as it is located outside the restricted zones, with properties in Makkah and Madinah strictly excluded from this rule. The holy cities hold a special status in the new framework. Foreigners are generally restricted from owning property in the two holy cities, with a few exceptions for Muslim foreigners in very specific cases, like inheritance or recognised religious endowments (waqf). Economic cities and special development zones are given priority for foreign ownership, supporting the government’s strategy to attract international investment into important growth areas. What Types of Property Rights Can Non-Saudis Acquire? The law defines various ownership categories depending on the type of buyer. Foreign individuals can obtain full ownership of a single property, provided it is located outside restricted zones. Corporate entities have extensive privileges, allowing non-listed companies and investment funds to own several properties across the Kingdom, including limited opportunities in holy cities with regulatory... --- - Published: 2025-08-09 - Modified: 2025-08-09 - URL: https://analytix.sa/saudi-arabias-non-oil-revenue-reach-40bn-in-q2-equal-to-oil-revenue/ - Categories: Daily News RIYADH: Saudi Arabia’s non-oil revenue increased by 6. 6% in the second quarter of 2025 compared to the same quarter last year, totalling SAR 149. 86 billion ($39. 96 billion). This is the first time that non-oil revenue is almost equal to the oil revenue. Non-oil revenues made up about 49. 7% of the total government income. It’s a rise from less than 40% a year ago, indicating a major change in the country’s revenue system. On the other hand, oil revenue fell by 28. 8% year-on-year to SAR 151. 73 billion ($40. 4 billion), due to lower global oil prices and voluntary production cuts by OPEC+. The main sources of income were taxes on goods and services (SAR 74. 95 billion), other revenues like earnings from government entities (SAR 28. 9 billion), corporate zakat (SAR26 billion), income and capital gains taxes (SAR 13. 73 billion), and taxes on international trade (SAR6. 32 billion). This strong growth is associated with the growth of non-hydrocarbon sectors, including wholesale and retail trade, transport, finance, tourism, and hospitality, all supported by Saudi Arabia’s Vision 2030 economic diversification plan. Government expenditure fell by 9% to SAR 336. 13 billion in Q2 2025, with the biggest reduction in grants, subsidies, and asset spending. The Kingdom recorded a budget deficit of SAR 34. 53 billion for Q2 and a total deficit of SAR 93. 23 billion for the first half of the year. Saudi Arabia’s financial progress under Vision 2030 shows the growing stability and the significance of non-oil revenue sources. --- - Published: 2025-08-08 - Modified: 2025-08-09 - URL: https://analytix.sa/saudi-arabia-launched-openai-models-with-humain-groq-partnership/ - Categories: Daily News RIYADH: Saudi Arabia has become the first nation in the region to implement OpenAI’s newest open-source models – gpt-oss-120B and gpt-oss-20B – through a partnership with HUMAIN, a company supported by the Public Investment Fund, and the US AI hardware company Groq. The OpenAI models are now fully functional on Groq’s ultra-high-speed inference platform, housed in HUMAIN’s sovereign data centers in Saudi Arabia, guaranteeing adherence to local regulatory and data sovereignty standards. This implementation helps Saudi developers, researchers, and enterprises by offering them access to advanced AI tools that were once limited to foreign infrastructure or compliance issues. The models provide fast, low-latency performance, with gpt-oss-120B running at over 500 tokens per second and gpt-oss-20B surpassing 1,000 tokens per second on the Groq infrastructure. Both models come with a 128,000-token context window and built-in features like real-time code execution and semantic search, making them ideal for complex reasoning tasks and large-scale language applications. This initiative represents an important advancement in Saudi Arabia’s efforts to localise AI innovation as part of its Vision 2030 strategy aimed at developing a digital economy and becoming a global AI hub. By hosting advanced models in the country, the Kingdom strengthens AI sovereignty, minimises data latency, and improves regulatory compliance, creating major opportunities for both public and private sectors to use and experiment with generative AI technologies in a safe setting. --- - Published: 2025-08-06 - Modified: 2025-08-06 - URL: https://analytix.sa/saudi-arabias-non-oil-sector-maintains-strong-growth-amid-july-pmi-slowdown/ - Categories: Daily News RIYADH: Saudi Arabia’s non-oil sector showed strong growth in the first half of 2025, even though the Purchasing Managers' Index (PMI) for July reflected a slight slowdown in expansion. The non-oil GDP growth rate was around 4. 7% in Q2 2025, slightly lower than 4. 9% in Q1, indicating steady growth in key sectors such as construction, hospitality, and private investment. The growth was supported by strong domestic demand and government initiatives that align with Vision 2030. Although the manufacturing, retail, and services sectors remained strong, the PMI for July weakened compared to earlier months. However, the index was above the 50-point level, suggesting that economic activity is still on the rise. The employment rate in the non-oil sector rose at the quickest since May 2011, highlighting strong labour conditions. The International Monetary Fund recently raised its GDP growth prediction for Saudi Arabia in 2025 to 3. 5%. This is partly due to the ongoing strong performance of the non-oil sector and reduction of the oil production cuts by OPEC+. Moreover, non-oil revenues grew by 7% in Q2 2025 to SR149. 9 billion ($39. 9 billion), which now accounts for almost half of the total government revenue, indicating the success of diversification strategies. Even with global uncertainties and cost pressures, Saudi Arabia’s efforts to diversify its economy and invest in non-oil sectors continue to be strong, helping to maintain growth and achieve broader economic transformation goals. --- > A comprehensive guide on How Foreigners Can Set Up a Business in Saudi Arabia, from obtaining a MISA license - Published: 2025-08-04 - Modified: 2025-08-15 - URL: https://analytix.sa/guide-on-starting-a-business-in-saudi-arabia/ - Categories: Articles The Vision 2030 strategy has turned Saudi Arabia into a top destination for foreign investment in the Middle East. The country’s strategic location, strong economy and progressive business reforms offer immense opportunities for growth to foreign investors and businesses. The Kingdom’s push to make the economy diverse and welcoming approach to foreign investment keeps drawing investors from all over the world. Whether you are a startup or well-established business wanting to enter the Saudi market, knowing the regulations and setup process is important for a smooth and efficient entry. This detailed guide includes all that you need to know and understand about starting a business in Saudi Arabia, from the initial requirements to post-incorporation compliance. Setting up a 100% foreign-owned business in Saudi Arabia In order to set up a 100% foreign-owned company in Saudi Arabia, you have to obtain an investment license from the Ministry of Investment (MISA). As a next step, you have to register your company with the Ministry of Commerce and get a commercial registration (CR). The next crucial step is to open a corporate bank account in Saudi Arabia, and deposit the required amount, and get a business location. Also in order to obtain visas for your employees, you’ll need to register your company with the General Organization for Social Insurance (GOSI). As a final step, you have to comply with all the municipal regulations of the region to get any sector specific permits. Hiring a local consultant can ease the process and help you establish your company in Saudi Arabia hassle free. It is considered best to take assistance from a local business consultant to simplify this process and ensure a smooth business setup in Saudi Arabia. Benefits of 100% foreign ownership in Saudi Arabia There are numerous benefits associated with having 100% control over a business in Saudi Arabia. It allows foreign investors to have complete power over decision making exempting the need for local partners. Having 100% control helps you have greater autonomy in operations, strategy, and financial decisions, which can help the business to adapt to changes in the market. Also the investors can possess all profits and have a streamlined process in management of the business. Moreover, it also helps to maintain confidentiality and intellectual property. Having 100% control over business in Saudi Arabia is surely advantageous for companies which aim to establish their presence in the Saudi market with global standards and practices. Minimum Capital Required for company formation The minimum paid-up capital requirement for setting up a company in Saudi Arabia differs depending upon the type of business and the sector in which it is involved. In general for a limited liability company (LLC), the typical paid up capital requirement is around SAR 500,000 which is approximately around USD 133,000. But this amount can be of huge to foreign-owned entities specially for those companies that are operating in certain sectors which demand greater investment. In order to obtain latest updates regarding the paid up capital requirement, it is... --- > In this blog, we will explore the advantages, investment opportunities, and insights for starting your business to Ras Al Khair Project in Saudi Arabia. - Published: 2025-07-31 - Modified: 2025-07-31 - URL: https://analytix.sa/ras-al-khair-project-in-saudi-arabia/ - Categories: Articles The Ras Al Khair Project in Saudi Arabia is one of the Kingdom’s most ambitious industrial developments along the Arabian Gulf coast. Ras Al Khair, being one of the largest industrial cities in the Kingdom, is vital for processing and exporting minerals to international markets. The Ras Al-Khair Industrial City spans over 180 square kilometres and features advanced facilities that will help position Saudi Arabia as a global manufacturing hub. IF you want to learn more about the city – keep reading – as we explore the city’s advantages, investment opportunities, and practical insights for starting or expanding your business to Ras Al Khair. Ras Al Khair Economic Zone Ras Al Khair Industrial City is more than just another city by the Arabian Gulf. It’s a purpose-built special economic zone aimed at developing the Kingdom’s mining, maritime, and manufacturing sectors. Situated on the eastern coast of the Kingdom, 80 km north of Jubail (one of the major petrochemical centres globally), the zone is the result of the Kingdom’s effort to redirect the economy beyond oil revenue. The zone has top-notch infrastructure, which includes the 2,400 MW Ras Al-Khair Power and Desalination Plant, modern worker camps and the International Maritime Industries (IMI) shipyard – one of the largest shipbuilding facilities globally. The International Maritime Industries (IMI) has already entered into a contract worth $10 billion over 10 years with partners Aramco and Bahri, for delivering 20 rigs and 52 vessels. With simplified regulations and attractive investment incentives, this special economic zone is actively drawing in international businesses. Advantages of Ras Al Khair Strategic Location: Easy access to global shipping routes through a world-class port facility, allowing for smooth exports to Asia, Europe and Africa markets. Integrated Supply Chain: Near to Saudi Arabia’s rich mineral deposits, with existing processing facilities like the world’s largest vertically integrated aluminum production facility and phosphate plants, providing efficient value-added manufacturing opportunities. Exceptional Incentives: The Corporate tax rate is 5% for 20 years and a permanent 0% withholding tax on profits sent back from the SEZ to overseas countries, along with full foreign ownership rights and simplified business registration processes. World Class Infrastructure: Features power plants with a capacity of more than 2,400 MW, major water desalination facilities, and the IMI shipyard complex made for international maritime manufacturing. Clustered Developments: Significant opportunities in aluminum smelting, phosphate processing, shipbuilding, and energy sectors, promoting local suppliers and partnerships. Sustainability Focus: A focus on green manufacturing technologies, energy efficiency standards, and eco-friendly industrial practices that match global sustainability trends. Why Invest in Ras Al Khair Economic Zone? The zone offers a unique blend of government support, infrastructure investment, and market access, offering exceptional opportunities for international investors. Ras Al Khair Industrial City is the core of the mining sector in Saudi Arabia, having attracted investments more than SR130 billion, indicating continued trust from global businesses. The latest developments in the Ras Al Khair new project include the development of major high-density aluminum fluoride facilities and two steel plants, worth $4.... --- > King Abdullah Economic City (KAEC) is a whole new city designed to attract new investment and diversify the economy from oil revenue. - Published: 2025-07-31 - Modified: 2025-07-31 - URL: https://analytix.sa/king-abdullah-economic-city/ - Categories: Articles King Abdullah Economic City, known as KAEC, is at the core of Saudi Arabia’s Vision 2030. It’s more than just a city; it’s a whole new model designed to attract new investment, business talent and diversify the economy from oil revenue. The city has turned into one of the most crucial projects attracting investors from all over the world. So, what makes this city so attractive to entrepreneurs and investors? If you want a complete understanding of the strategic advantages, actual growth statistics, and living experience in Abdullah Economic City, continue reading – you'll find out why King Abdullah City is rapidly becoming the ideal place for investment. About King Abdullah Economic City King Abdullah Economic City is a well-planned urban centre, developed by Emaar Economic City, located approximately 100 kilometres north of Jeddah along the Red Sea Coast. The city covers 185 square kilometres and wants to transform the relationship between business, sustainability and quality of life in Saudi Arabia. The city functions as a special economic zone featuring Industrial Valley containing manufacturing facilities, a major port linking the kingdom to global markets, and carefully designed residential communities. Its infrastructure includes quick connectivity, modern transport systems, and eco-friendly technologies that efficiently support both businesses and residents. Advantages of King Abdullah Economic City KAEC provides a mix of modern facilities and various opportunities that attract investors and improve quality of life. Strategic Location: Located at the Red Sea Coast, KAEC connects to Jeddah and key trade routes, making it a perfect entry point for international business. World-Class Port: King Abdullah Port is considered the world’s most efficient container port, managing logistics and shipping activities that increase trade efficiency. Diverse Investment Zones: The city features an Industrial Valley, business parks, and residential zones like Al Waha and Juman Park, offering a range of investment options. Modern Living: Residents get to enjoy eco-friendly villas, green spaces, top-notch hotels, golf courses, and entertainment venues that make living here attractive. Smart Infrastructure: High-speed rail connections through the central station, advanced digital networks, and eco-friendly technologies keep the city interconnected. Innovation Support: More than 100 global and Saudi companies have set up their base here, covering sectors such as automotive, pharmaceutical, and advanced manufacturing. Why Invest in King Abdullah Economic City? KAEC has great investment opportunities, which are supported by thorough planning and government commitment. The most recent data from 2024-2025 reflects significant progress in development and attracting businesses. The city plans to accommodate as many as 2 million residents, meaning there’ll be a high demand for housing, retail, and services. Investors who understand this growth trajectory and act early get to enjoy long-term benefits. Job creation is another major appeal. KAEC aims to create up to one million jobs as various sectors grow. Logistics, entertainment, hospitality, and manufacturing sectors are growing, providing a range of diverse career paths and opportunities. The Special Economic Zone provides attractive incentives to investors such as 100% foreign ownership rights, zero withholding tax, corporate tax reductions, and simplified business... --- > Read this blog to know what are the real challenges faced by startups in saudi arabia and how to overcome these challenges. - Published: 2025-07-28 - Modified: 2025-07-28 - URL: https://analytix.sa/challenges-faced-by-startups-in-saudi-arabia/ - Categories: Articles Starting a business is always an exciting journey, and in Saudi Arabia, the excitement around innovation and new ideas is greater than ever. The startup ecosystem in the country is growing quickly, with an increasing number of people opening startups every year. This remarkable growth has made startup companies in Saudi Arabia a key contributor in the region’s economic transformation, with the developing startup ecosystem attracting entrepreneurs from all over the world. However, as impressive as it sounds, the challenges of startups remain real and every entrepreneur needs to know about bthem efore creating anything in Saudi Arabia. Read this blog to know what you are really up against and how to overcome these challenges: Access to Funding and Venture Capital For any startup, funding is their lifeblood. In Saudi Arabia, venture capital investment has rapidly increased, achieving a 49% compound annual growth rate and $2. 6 billion invested since 2018. Still, startup companies in Saudi Arabia find it difficult to get early-stage funding, particularly if it’s outside major cities like Riyadh or Jeddah. Investors want to see evidence that your idea will work, and most prefer to support businesses that already have traction. If you’re just getting started, it may feel like you’re trying to open doors that remain closed. There are government grants and some angel investors, but knowing where to find them and how to present your idea is a big part of the struggle. This means you need to be more strategic in getting your funding. Create something that the investors can’t say no to, or find some innovative ways to expand without financial backing at first. Regulatory Complexity and Compliance Getting your business legal and compliant can feel like a bit of a struggle. Although the government has simplified processes, startups in Saudi Arabia still have to deal with a lot of paperwork. Numerous licenses, ownership criteria, and frequently changing regulations can be overwhelming. The fintech sector is more impacted than the others. These companies have to find a balance in providing a good user experience while following strict anti-money laundering laws. It’s like running a marathon while juggling. One error and you’re done! Pro-Tip: Start your compliance work as soon as possible. Don’t delay understanding the licensing requirements. Talent Acquisition and Retention Most founders will tell you this: finding the right people is challenging. Saudi Arabia is the fourth best in the world for talent availability, but the competition is tough. Big companies provide better salaries and perks, so startup companies in Saudi Arabia need to offer something better to attract and keep skilled professionals. There’s always a need for skilled tech workers, marketers, and managers. Your top employees usually leave you for a larger company. This constant turnover costs you time and money that you likely don’t have – a common challenge of startups. The solution to this isn’t just money. Offer equity, flexible work options, and real opportunities for growth. Smart people want to create something meaningful, not just receive a paycheck.... --- > A carefully prepared business plan is important for companies looking for business setup in Saudi Arabia. Check how to build a business plan. - Published: 2025-07-28 - Modified: 2025-07-28 - URL: https://analytix.sa/build-a-business-plan-for-saudi-arabia-expansion/ - Categories: Articles A carefully prepared business plan is no longer optional for companies looking for business setup in Saudi Arabia; it is essential. With the real GDP climbing 3. 4% in Q1 2025 and non-oil sectors growing by 4. 9%, Saudi Arabia presents immense opportunities for growth. Vision 2030 has significantly changed the investment landscape, opening doors for foreign businesses that didn’t even exist five years ago. Effective business planning is crucial when entering such a dynamic market. Whether you are the founder of a startup or managing a multinational’s regional growth, your success relies on understanding what sets Saudi Arabia apart. Why a Saudi-Focused Business Plan Matters Saudi Arabia’s economic transformation makes typical business plans inadequate. The Kingdom allows 100% foreign ownership, speeds up company registration, and supports private sector development with policies. These changes have created opportunities, but they also require specialized knowledge. In local business culture, long-term relationships and trust are highly valued. Your strategy should respect Saudi customs and highlight how your business supports the country’s economic goals. Regulations are constantly evolving, so your plans should be flexible enough to adapt to the policy changes while remaining compliant. Key Elements of a Strong Business Plan for Saudi Arabia Executive Summary: Start by explaining why Saudi Arabia is the right market for your business. Explain how your business aligns with Vision 2030 objectives like economic diversification or job creation. Investors and partners want to see how you are contributing to the nation’s goals and not just profit potential. Market Analysis: Use up-to-date information to support your case. Analyse demographics in detail – Saudi Arabia has a youthful population, with 60% of the population under the age of 30, high rates of smartphone usage and increasing disposable income. Study their spending habits and local preferences. Saudi consumers are increasingly prioritising quality and convenience, which creates opportunities for innovative businesses that can provide premium experiences. Business Structure and Compliance: Select your entity type wisely. Limited Liability Companies are ideal for small businesses, whereas Joint Stock Companies work well for larger businesses, especially the ones that require public involvement. Branch offices offer an easy option for established multinational companies that are exploring new markets. Each structure comes with its own compliance and Saudization obligations. Document everything carefully – Saudi authorities require detailed incorporation papers, shareholder contracts, and operational licenses that may differ by the sector. Products/Services and Saudi Alignment:Explain how your products/services cater to the local needs. Generic products often fail without careful localisation. Saudi consumers look for Arabic language support, Islamic compliance where necessary and service standards that meet their expectations. Take cultural preferences into account – services that are family-oriented often perform well, as do products that respect privacy and traditional values. Show how you will modify your products/services without compromising on quality. Several successful international companies changed their packaging, marketing messages and even product formulations to cater to Saudi preferences. Financial Projections and Investment Requirements:Provide realistic predictions considering the Saudi market. Include setup expenses, regulatory fees, and initial marketing... --- - Published: 2025-07-22 - Modified: 2025-07-22 - URL: https://analytix.sa/saudi-industrial-logistics-sectors-add-263-billion-to-non-oil-gdp-in-2024/ - Categories: Daily News RIYADH: Saudi Arabia’s Industrial, Logistics Sectors added SR986 billion ($263 billion) to the non-oil GDP in 2024, representing 39% of the non-oil economy, as per the National Industrial Development and Logistics Program (NIDLP). This is a significant increase from SR949 billion ($253 billion) in 2023, indicating the continued influence of NIDLP in promoting the economic diversification objectives of Vision 2030. Non-oil activities accounted for 55% of the Kingdom’s total GDP in 2024. In the core sectors of NIDLP, manufacturing saw an increase of 4%, whereas mining, transportation, and storage grew by 5% compared to the previous year. Non-oil exports rose to SR514 billion ($137 billion), marking a 13. 2% annual growth. This includes chemical goods at SR78. 5 billion ($20. 9 billion), metals at SR23. 3 billion ($6. 2 billion), food and beverages at SR10. 5 billion ($2. 8 billion), and electrical equipment at SR42. 9 billion ($11. 4 billion). The government granted 1,056 new logistics licenses and increased the number of re-export centres from 2 in 2019 to 23 in 2024. Port utilisation rates surged by 64% and customs clearance times were cut down to 2 hours. NIDLP exceeded key 2024 targets, reaching a localisation rate of 19. 35% in the defense sector and issuing 3,100 licenses for emerging sectors, surpassing the target of 845 licenses. Overall, these results prove how important the program is for promoting growth, developing infrastructure, and setting Saudi Arabia as a top industrial and logistics hub regionally and globally. --- > If you are planning to start a restaurant in Saudi Arabia, read this blog to get a clear understanding of the latest trends and requirements. - Published: 2025-07-17 - Modified: 2025-07-17 - URL: https://analytix.sa/thinking-of-opening-a-restaurant-in-saudi-arabia/ - Categories: Articles Saudi Arabia’s restaurant sector is one of the most appealing markets in the Middle East for new eateries. In 2025, the food service industry is valued at over $30 billion and is expected to grow by more than 8% every year, with cities like Jeddah and Dammam leading the way in new restaurant launches. If you are planning to start a restaurant in Saudi Arabia, read this blog to get a clear understanding of the latest trends and requirements that will help you succeed in this competitive market. Key Points Every Restaurant Owner Should Know 1. Market Trends & Opportunities The food and dining sector in Saudi Arabia has been rapidly growing due to a youthful population, increased incomes, and growing preference for dining out. Whether you’re opening a fine dining place or a casual cafe, there’s never been a better time to open a restaurant in Saudi Arabia. International restaurant brands are flourishing in cities like Jeddah and Dammam, while traditional Saudi cuisine remains popular among both locals and foreigners. By 2032, the sector will likely hit $62 billion, with a strong appetite for both local and international cuisines. 2. Location Matters One of the biggest success factors for any restaurant in Saudi Arabia is its location. Choose areas with high foot traffic, easy access, and a customer base that matches your restaurant’s concept. Take into account local competition and the neighbourhood’s demographics to confirm there is demand for your food and dining style. A well-chosen location can draw in more customers and help your restaurant excel in this competitive market. 3. Understanding Local Preferences Before you start a restaurant in Saudi Arabia, understanding your audience is important. Menus must be customized to local tastes and preferences, as some of the major international chains such as McDonald’s and KFC have done. All food must be halal, and there’s a growing demand for healthy, varied and international food choices. Saudi dishes like Kabsa and Saleeg are well-liked, but Asian and Latin American tastes are also becoming popular. 4. Licensing & Compliance To start a restaurant in Saudi Arabia, you need to follow these steps: Register your business with the Ministry of Commerce. Get a commercial registration and municipal permit. Comply with health, safety, and building standards, including getting approval from the Civil Defense Department. Adhere to all the technical and hygiene regulations. 5. Embracing Digital Transformation People in major cities have adopted a new dining experience by digital ordering and online food delivery. When you start a restaurant in Saudi Arabia, integrate tech solutions as it helps reach more customers and improves service from digital menus to managing inventory in real-time. 6. Hiring & Training Employees should be familiar with local customs, food safety practices, and service standards. That's why hiring and training employees is crucial for your business’s success. Proper training guarantees a great dining experience, and compliance with Saudi labour regulations, helping your business grow. 7. Financial Management Employees should be familiar with local customs, food safety practices,... --- - Published: 2025-07-16 - Modified: 2025-07-16 - URL: https://analytix.sa/sdaia-and-shareek-partner-to-boost-ai-and-digital-transformation/ - Categories: Daily News RIYADH: The Saudi Data and Artificial Intelligence Authority (SDAIA) entered into an agreement with Shareek, Saudi Arabia’s Private Sector Partnership Reinforcement Program, to promote innovation in artificial intelligence (AI), big data, and cloud computing in the Kingdom. The partnership was officially announced at the Digital Saudi Exhibition, part of the economic affairs meeting organised by the Council of Economic and Development Affairs. The memorandum of understanding specifies joint efforts to advance modern digital technologies, strengthen national data and AI capabilities, and help the private sector in implementing digital solutions. As part of the agreement, SDAIA will support Shareek partners in upgrading their digital infrastructure and offer expertise in data analysis, cloud technologies, and AI applications. This partnership helps Saudi Arabia achieve its Vision 2030 objectives of diversifying the economy and positioning the Kingdom as a regional leader in AI and digital transformation. The partnership aims to improve operational efficiency, support data-driven decision making, and promote innovation in the private sector by providing companies with access to SDAIA’s digital platforms and AI resources. The Digital Saudi Exhibition presents more than 40 key initiatives, emphasising the government’s efforts to improve digital and AI ecosystems. This includes working with both public and private stakeholders to develop a solid digital infrastructure, attract investments, and promote long-term economic development. By working together, SDAIA and Shareek aim to speed up the digital transformation of the Saudi private sector, support national progress, and make the Kingdom a leading hub for innovation in the Middle East. --- - Published: 2025-07-14 - Modified: 2025-07-14 - URL: https://analytix.sa/saudi-arabia-issues-1346-industrial-licenses-in-2024/ - Categories: Daily News RIYADH: Saudi Arabia granted 1,346 new Industrial Licenses in 2024, bringing in over SR50 billion ($13. 3 billion) in new investments, as per the recent report from the Ministry of Industry and Mineral Resources. These licenses are expected to generate over 44,000 new jobs throughout the Kingdom. The ministry’s analysis also indicates that 1,075 factories started producing in 2024, with investments over SR48 billion and providing jobs for around 39,000 workers. Investments from the private sector in industrial cities and zones totalled SR1. 9 trillion, with 1. 09 million licensed industrial workers and a 36% Saudization rate. The new licensing activity backs Saudi Arabia’s National Industrial Strategy, which aims to raise the number of factories to 36,000 by 2035, including 4,000 fully automated ones. The strategy focuses on 12 sub-sectors and more than 800 investment opportunities which are valued at SR1 trillion, with the goal of tripling the industrial GDP. These changes are included in the broader Vision 2030 strategy aimed at redirecting the Saudi economy from being dependent on oil revenue. The National Industrial Development and Logistics Program (NIDLP), which was launched in 2019, promotes these objectives by boosting regulations, improving local content and investing in renewable energy. Crown Prince Mohammed bin Salman highlighted that Saudi Arabia’s youthful workforce, strong companies, and rich resources position the country for a competitive and sustainable industrial economy. --- - Published: 2025-07-10 - Modified: 2025-07-10 - URL: https://analytix.sa/new-saudi-arabia-real-estate-law-allows-foreigners-to-own-property/ - Categories: Daily News RIYADH: Saudi Arabia will now permit foreigners to own property in certain areas from January 2026, after a landmark decision made by the Saudi Cabinet on July 8, 2025. The new law is part of the kingdom’s efforts to attract foreign investment (FDI) and support its Vision 2030 strategy to shift the economy beyond oil revenue. Foreigners will be allowed to purchase real estate in designated areas, with an initial focus on major cities like Riyadh and Jeddah. However, owning properties in the holy cities of Mecca and Medina will have stricter rules and special conditions. The Real Estate General Authority will state the geographic limits for foreign ownership and will provide detailed regulations within 180 days of the law’s announcement, utilizing the Estithaa public consultation platform. The law is brought in with an intention to boost real estate supply, attract international developers, and encourage new capital investments into Saudi urban centres. It also aims to provide more housing options and promote the construction sector, which is already experiencing significant growth. The new system will align with current programs such as the Premium Residency Program and feature procedural protections to safeguard Saudi citizens’ interests and ensure market stability. This reform is regarded as a significant change in Saudi property policy, making it the first time foreign investors have had the opportunity to legally own property in Saudi Arabia’s major urban areas. This initiative is expected to liberalise the kingdom’s real estate market and solidify its status as a regional investment hub. --- > In this blog, you will get an insight into its history, objectives, key roles of Saudi Arabian General Investment Authority (SAGIA). - Published: 2025-07-10 - Modified: 2025-07-14 - URL: https://analytix.sa/saudi-arabian-general-investment-authority-sagia/ - Categories: Articles The Saudi Arabian General Investment Authority (SAGIA) has a key role in turning the kingdom into one of the most attractive investment places. SAGIA, founded in 2000, encouraged foreign investment, supported local businesses, and promoted economic diversification. Today, its legacy lives through the Ministry of Investment (MISA). This transformation backs Vision 2030 objectives to create a dynamic diversified economy. As the official entry point for foreign investors, SAGIA in Saudi Arabia has played a major part in simplifying processes and creating new opportunities. In this blog, you will get an insight into its history, objectives, key roles and what the latest reforms mean for your investment plans in Saudi Arabia. What is Saudi Arabian General Investment Authority (SAGIA)? SAGIA was established in 2000 as the official agency for promoting investments in the kingdom, with the goal of attracting and facilitating both local and foreign investments. Its main goal was to improve the kingdom’s competitiveness, better investor services, and open the market to foreign businesses. In 2020, SAGIA became the Ministry of Investment (MISA). This change marked the beginning of a new era of reforms, which aligned more with Vision 2030’s goals of economic diversification. MISA now functions as an independent government body, offering a stronger and more well-structured framework for investors. The authority aims to create a business-friendly environment, make regulatory processes simpler and position Saudi Arabia as a top choice for investment. With continuous improvements, SAGIA in KSA has made the kingdom a centre for innovation, entrepreneurship, and international business growth. Objectives of Saudi Arabian General Investment Authority The Saudi Arabian General Investment Authority has clear goals that help the kingdom’s economic diversification: Improving Saudi Arabia’s competitiveness as a top investment hub in the Middle East and worldwide. Making it easier to find opportunities for investment in key sectors like technology, healthcare, tourism, and renewable energy. Encouraging economic diversification to lessen the dependency on oil revenue and create a knowledge-based economy. Offering extensive support for foreign investors and local businesses, including the development of the SME sector. Simplifying regulatory processes to cut down on time and costs needed to start and run a business. Promoting Saudi Arabia’s investment environment by marketing globally and outreach initiatives. Role and functions of SAGIA The authority carries out several important functions that help it attract foreign investment such as: Promoting and facilitating investment: Marketing Saudi Arabia as the perfect place to invest and providing investors with opportunities. Simplifying regulatory processes: Making licensing procedures easier and cutting down bureaucratic barriers for businesses. Providing investor services and support: Offering full support throughout the investment process, from the very first inquiry to running the business. Coordinating with government entities: Working closely with other ministries and agencies to ensure a stress-free experience for investors Identifying and developing new Investment opportunities: Evaluating market trends and creating investment packages in growing sectors. Monitoring and assessing investment performance: Keeping track of investment results and ensuring adherence to regulatory standards. How to Obtain a SAGIA Investment License? Let’s look at the... --- - Published: 2025-07-07 - Modified: 2025-07-07 - URL: https://analytix.sa/saudi-arabia-introduces-skill-based-work-permits-to-attract-global-talent/ - Categories: Daily News RIYADH: Saudi Arabia introduces a new permit system focused on skills to attract foreign talent and align foreign workers with the Kingdom’s economic goals. Ahmed Al-Rajhi, Minister of Human Resources and Social Development announced the initiative, classifying expatriate workers into three categories: high-skill, skilled, and basic. Classification depends on factors such as qualifications, experience, technical ability, wage level, and age. The system started on July 1, 2025, for new workers and June 18 for existing expatriates. This initiative supports Vision 2030, which seeks to increase productivity, minimise skill mismatches, and encourage innovation. This is a needed step, especially as the country has undertaken innovative projects such as NEOM, the Red Sea Project, Qiddiya, and Diriyah Gate, which requires specialised expertise. The new system has adopted a digital evaluation process through the QIWA platform, which aligns with Saudi professional and educational standards. It aims to enhance transparency in workforce planning and assist businesses hire employees who are better-qualified, while gradually lessening reliance on low-skilled labor. This move aligns with favourable employment trends. The overall employment rate fell to a record low of 2. 8% in Q1 2025 and non-Saudi unemployment at 0. 8%. Expatriates constitute 44. 4% of the population, with most in the working-age group. The initiative is also connected to the Professional Verification Program, which verifies the credentials for foreign workers in main sectors. Employers are asked to reclassify employees via QIWA, and employees can ask for a reassessment. Detailed instructions are available on the ministry’s website. --- > Setting up a renewable energy business in Saudi Arabia offers immense opportunities for both local and international investors. Check how! - Published: 2025-06-24 - Modified: 2025-06-24 - URL: https://analytix.sa/renewable-energy-business-in-saudi-arabia/ - Categories: Articles The global energy market is growing rapidly, with countries adopting the shift to sustainable energy sources, and Saudi Arabia is at the forefront of this shift. As the kingdom works towards its Vision 2030 objectives and net zero goals, setting up a renewable energy business in Saudi Arabia offers immense opportunities for both local and international investors. With the government’s dedication to diversifying energy sources and strong investment support, business setup in Saudi Arabia’s renewable sector has never looked better. Why Invest in Renewable Energy in Saudi Arabia? Saudi Arabia is becoming a key player in the renewable energy sector with forward-thinking leadership and major financial backing. The country’s shift from an oil-dependent economy to a diversified energy hub with better energy efficiency provides strong reasons to invest: Vision 2030 Ambitious Targets: Saudi Arabia plans to get at least 50% of its energy from renewable sources by 2030, increasing its capacity to 130 gigawatts (GW), 58. 7 GW from solar panel installations and 40 GW from wind energy. This is one of the most ambitious renewable energy goals among Gulf Cooperation Council countries. Massive Investment Commitment: The Saudi government announced a USD $20 billion investment plan in the renewable sector by 2025 to cut down on domestic energy consumption from oil. Moreover, the kingdom aims to attract $3 trillion foreign investment to promote economic development and share international expertise. Innovative Projects: The kingdom is home to some world-class energy initiatives, like the NEOM Green Hydrogen project, major wind farm developments, and advanced power plant installations. Recent advancements include the 600-megawatt AlGhat project which has a levelized cost of energy (LCOE) as low as 1. 57 cents per kilowatt-hour, expected to be the biggest in the country upon its completion in 2026. Strategic Geographic Advantage: With its rich solar and wind resources, along with its strategic location that connects Asia, Africa, and Europe, makes Saudi Arabia the perfect place for renewable energy development and export. How to start a Renewable Energy Business in Saudi Arabia? Starting a renewable energy business in Saudi Arabia needs thorough planning and an understanding of local requirements. Here’s a detailed step-by-step approach: Market Research and Opportunity Identification: Start by analyzing specific market segments in renewable energy in Saudi Arabia. Focus on high-demand areas like solar panel systems, wind energy projects, energy storage solutions, and green hydrogen production. Knowing local energy consumption patterns and government procurement priorities will assist in finding the best opportunities in the evolving energy market. Legal Requirements and Regulatory Compliance: Understand the regulatory landscape by getting the necessary licenses from the Water and Electricity Regulatory Authority (WERA) and registering with the Ministry of Investment. Make sure to follow the local content rules, which require a certain number of local materials and workforce in renewable energy projects. Company Formation and Registration: Select a suitable business structure, whether a limited liability company, joint stock company, or branch office. Finish registration procedures with the Saudi Arabian General Investment Authority (SAGIA) and get commercial registration from the... --- > Saudi Arabia’s Public Investment Fund (PIF) has launched a new company, Expo 2030 Riyadh C - Published: 2025-06-20 - Modified: 2025-06-20 - URL: https://analytix.sa/new-company-launched-to-develop-and-run-expo-2030-riyadh/ - Categories: Daily News RIYADH: Saudi Arabia’s Public Investment Fund (PIF) has launched a new company, Expo 2030 Riyadh Co. , which will be in charge of developing, managing, and running all aspects of the country’s first World Expo. The event is scheduled to take place from October 1, 2030, to March 31, 2031, on a 6 million square meter area located north of Riyadh and close to the upcoming King Salman International Airport. It is expected that the project will contribute $64 billion to Saudi Arabia’s GDP during its construction and generate around 171,000 jobs, both directly and indirectly. Once it is up and running, the expo is forecasted to contribute $5. 6 billion to the national economy and draw in more than 40 million visitors. Expo 2030 Riyadh Co. (ERC) will partner with local and international companies to oversee construction, cultural activities and event management. The company’s efforts are in line with the PIF’s real estate strategy and Vision 2030’s strategy, which aims for economic diversification, urban innovation, and enhanced quality of life. Following the expo, the area will change into a “global village,” featuring shops, dining and living spaces, promoting sustainable tourism and innovation. Participating countries get the opportunity to construct lasting pavilions, which will promote continuous investment and international business relationships. The PIF stated that this initiative is a part of its broader plan to diversify the economy and secure sustainable financial growth. Riyadh being chosen as the host city in November 2024 boosts its status as a leading modern capital. --- > If you are thinking of setting up a restaurant business in Saudi Arabia, read our blog to learn more about the process and its benefits. - Published: 2025-06-11 - Modified: 2025-06-11 - URL: https://analytix.sa/start-a-cafe-and-restaurant-business-in-saudi-arabia/ - Categories: Articles Saudi Arabia is becoming a prime spot for food lovers and entrepreneurs, making it a great time for those who want to start a restaurant business in Saudi Arabia. The restaurant business is growing rapidly, with new cafes and dining spots popping up in every city. Factors like the young population, increasing tourism and changing lifestyles have been encouraging people to open a restaurant or cafe in Saudi Arabia. Whether you want to start a restaurant or coffee shop business in Saudi Arabia, this market offers you immense opportunity for growth and success. If you are thinking of setting up a restaurant business in Saudi Arabia, read our blog to learn more about the process and its benefits. Cafe and Restaurant Business in Saudi Arabia Saudi Arabia’s Cafe and Restaurant sector is undergoing a major shift and experiencing a rapid growth. The rise of online food delivery and takeaway options has changed how customers engage with restaurants, leading to a significant increase in demand for services in recent years. Food outlets are no longer available just in major cities – smaller cities and towns are also seeing a rise in new cafes and restaurants, thanks to the growth of shopping malls and lifestyle centres. The quick service restaurant (QSR) segment is highly active, with the market expected to go from $9. 23 billion in 2024 to $16. 62 billion by 2033, as Saudis prefer fast, convenient, dining options and mobile ordering. Social media trends, food festivals, and an increasing focus on healthy and sustainable eating are influencing the sector, prompting restaurants to provide more varied menus and innovative dining experiences. As Saudi Arabia progresses towards modernisation, the cafe and restaurant business is quickly adapting, presenting numerous opportunities for both local entrepreneurs and international brands. Benefits of Starting a Restaurant in Saudi Arabia Strong Market Growth: The restaurant business in Saudi Arabia is set to reach $51. 64 billion by 2033, with a growth rate of 7. 66% per year. Young and Growing Population: The growing and urbanised population in Saudi Arabia is generating a high demand for new dining options and experiences. Tourism Boom: Saudi Arabia welcomed 30 million international tourists in 2024, with international visitors boosting the demand for a variety of food and drink options. Digital Transformation: Around 65% of Saudi consumers prefer ordering food digitally, leading to a rise in investment in food-tech startups, making it easier to connect with customers through technology. Government Support: Vision 2030 promotes innovation, modernization, and foreign investment, simplifying the process of business setup in Saudi Arabia. Diverse Consumer Preferences: Saudis are open to various international cuisines and health-conscious menus, resulting in diverse customer preferences and potential for your restaurant concept. Prime Location: Cities like Riyadh, Jeddah, and Dhahran have busy spots that are perfect for your restaurant investment. Sustainability Trends: There’s a growing interest in menu choices that are locally sourced, healthy and sustainable. How to Start a Restaurant Business in Saudi Arabia? Starting a restaurant business in Saudi Arabia might... --- > Saudi Arabia is quickly becoming a major technology hub in the Middle East, with robotics playing a vital role in economic diversification. - Published: 2025-06-11 - Modified: 2025-06-11 - URL: https://analytix.sa/robotics-industry-in-saudi-arabia/ - Categories: Articles Saudi Arabia is quickly becoming a major technology hub in the Middle East, with robotics playing a vital role in economic diversification. The kingdom’s Vision 2030 initiative has positioned automation and robotics as one of the pillars of its strategy. As the country focuses more on non-oil sectors, the robotics industry in Saudi Arabia is offering immense opportunities for both local and international businesses. The Saudi government assists robotics companies with funding, supportive policies, and world-class infrastructure. Additionally, international robotics conferences take place in Riyadh and Jeddah. These conferences bring together experts in the field from around the world and also show the kingdom’s commitment to becoming a leader in technology. Overview of Robotics Industry in Saudi Arabia The robotics market in Saudi Arabia offers growth potential: Market Size and Growth: In 2024, the robotics market in Saudi Arabia was valued at USD 478. 8 Million. It is projected that the market will expand to USD 2,094. 1 Million by 2033, growing at an annual rate of 15. 90%. This growth indicates Saudi Arabia’s efforts to develop the industry. Key Sectors: Manufacturing is the leading sector adopting robotics, especially industrial automation. In 2024, the industrial robotics market was worth USD 178. 2 Million, and it is likely to hit USD 543. 7 Million by 2033. Other sectors adopting robotics include logistics, healthcare, automotive, and oil and gas. The electrical and electronics sector uses 25% of industrial robots for sustainable manufacturing processes. Government Support: Initiatives like Vision 2030 and Leap 2025 are drawing in investments in robotics technology. The Saudi Data and Artificial Intelligence Authority (SDAIA) partners with robotics developers to combine AI technologies with robotics systems. Technology Integration: Modern robotics in Saudi Arabia is increasingly using artificial intelligence, IoT connectivity, and advanced automation systems. Companies operating in the kingdom like Nala Robotics, GMT Robotics, and Gaussian have been developing advanced robotics solutions. The data centre robotics market will hit US $ 714. 0 million by 2030, at a growth rate of 22. 6% each year. Export Plans: In February 2025, Amit Midha, CEO of Alat announced that Saudi Arabia will start exporting industrial robots by the end of May 2025. This shows that the kingdom has now transformed from buying robots to producing and selling them, a remarkable development. Skills Development: The government has been heavily investing in robotics education and training programs to upskill the workforce. Moreover, universities and technical institutes provide specialized courses in robotics, while international partnerships offer advanced training opportunities. How to Start a Robotics Business in Saudi Arabia? Entrepreneurs planning to start a Robotics Business in Saudi Arabia should follow these strategic steps: Market Research: Carefully study and understand the robotics market in Saudi Arabia. Identify the sectors opportunities lie in, like manufacturing, logistics, healthcare, or smart city projects. Look for market gaps or issues your robotics solution can solve. Understand Regulation: Get to know the business regulations in Saudi Arabia and available incentives. The Saudi Arabian General Investment Authority (SAGIA) offers all-in-all support for... --- - Published: 2025-06-10 - Modified: 2025-06-10 - URL: https://analytix.sa/saudi-arabia-record-13-rise-in-container-volume-in-may/ - Categories: Daily News RIYADH: Saudi Arabia’s seaports saw a significant increase in May 2025, managing 720,684 twenty-foot equivalent units (TEUs), a 13% rise compared to the same month last year, as reported by the Saudi Ports Authority (Mawani). This increase was a result of higher volumes in imports, exports, and transhipment activities. Imported containers increased by 15. 84% to 292,223 TEUs, whereas exported containers rose by 9. 38% to 279,318 TEUs. Transhipment volumes also increased by 12. 89%, reaching 149,143 TEUs. These data highlight Saudi Arabia’s expanding role as a regional trade hub and indicate continued investments in port infrastructure and logistics services. The total cargo tonnage managed, which includes general cargo, solid bulk, and liquid bulk increased by 1. 40% to 21,337,699 tonnes. In particular, general cargo was 935,932 tonnes, solid bulk cargo totalled 5,059,899 tonnes and liquid bulk cargo reached 15,341,868 tonnes. Other key data also indicated strong performance. The ports handled 1. 63 million livestock, marking a 61. 22% rise compared to the previous year. Vessel calls rose by 9. 39% to 1,083 ships, the number of passengers grew by 68. 15 to 95,231 and vehicles managed increased by 13. 09% to 84,352 units. This positive trend comes after a strong April growth, supporting Saudi Arabia’s National Transport and Logistics Strategy under Vision 2030. Mawani introduced major projects in 2024 which included 8 new logistics parks with SR 2. 9 billion in private investment, as part of a broader SR 10 billion initiative to build 18 logistics parks, boosting the kingdom’s position as a global logistics hub. --- > In this blog, we will look at the rapid growth of tech-driven start-ups in Saudi Arabia, major sectors, challenges and opportunities for entrepreneurs - Published: 2025-06-07 - Modified: 2025-08-28 - URL: https://analytix.sa/innovative-tech-driven-startups-in-ksa/ - Categories: Articles Saudi Arabia currently has approximately 2,000 start-ups, backed by more than 140 programs and a network of venture capital firms. This impressive rise indicates how quickly the kingdom is becoming a key tech hub in the Middle East. The Vision 2030 strategy is pushing this shift by prioritising innovation and digital transformation. These initiatives are creating immense opportunities for entrepreneurs worldwide. In this blog, we will look at the rapid growth of tech-driven start-ups in Saudi Arabia, major sectors, innovation hubs, challenges and opportunities for entrepreneurs and what the future has in store for the kingdom’s start-up ecosystem. Rise of the Tech-Driven Startups in KSA The startup ecosystem in Saudi Arabia is expanding rapidly. By 2025, the tech sector in Saudi Arabia is expected to be worth more than $12 billion, with over 2,000 startups and scale-ups in the country. This growth is a result of strong government support and effective planning. The government has launched multiple programs to help startups thrive. All these efforts are part of Vision 2030, which aims to make the economy less reliant on oil revenue and shift the focus to technology and innovation. Monsha'at, the Small and Medium Enterprises General Authority, offers training and financial support to new businesses. Furthermore, the Public Investment Fund (PIF) has been investing billions in tech companies. In 2023, Saudi start-ups secured around $1. 38 billion in funding with a major share of investment allocated to early-stage companies. This reflects investors’ confidence in the future of Saudi tech companies. The government is also simplifying the process of starting a business by cutting down on paperwork and improving regulations. Key Sectors and Innovation Hubs Various sectors are driving this tech boom in Saudi Arabia. Fintech is expanding rapidly, with projections suggesting it could hit $5. 8 billion by 2027. E-commerce is another strong sector, expected to exceed $30 billion by 2027 and reach $44 billion by 2030. Investment in Artificial Intelligence in Saudi Arabia is rising quickly, with the market valued at $1. 07 billion in 2024 and expected to surpass $4 billion by 2033. The kingdom organises important events that bring entrepreneurs together. Innovation Week and Biban24 are main conferences where start-ups can connect with investors and learn new skills. These events help build a community of innovators. Academic institutions play a key role in this expansion. Leading research centers, King Abdullah University of Science and Technology (KAUST) and King Saud University, work with companies to develop new technologies. Several successful start-ups come from these universities. Additionally, the government organises mentorship programs that connect experienced business leaders with new entrepreneurs. These programs assist start-ups in staying clear of common mistakes and growing quickly. Opportunities for Entrepreneurs Saudi Arabia presents numerous advantages for entrepreneurs wanting to start tech companies. Recent changes in regulations have made it simpler for businesses to start by reducing paperwork and speeding up processing time. This efficient approach allows for easier market entry. Funding options are increasing with the presence of both local and international venture... --- > In this blog, we will discuss the differences between Apostille and Attestation based on their features, processes and where they will be required. - Published: 2025-06-04 - Modified: 2025-06-04 - URL: https://analytix.sa/differences-between-apostille-and-attestation/ - Categories: Articles Moving across borders is common in today’s modern times. It could be for business, educational or personal purposes, whichever the situation is, you have to provide certain documents and prove their validity to the foreign authorities. Two main methods for this are: apostille and attestation. Knowing how they differ from one another guarantees that your documents will be accepted where you need them and helps you avoid delays. In this blog, we will discuss the differences between Apostille and Attestation based on their features, processes and where they will be required. What is an Apostille? An apostille is a certificate issued by an authorised official in countries that are members of the 1961 Hague Convention. It certifies that a public document is valid and can be recognised in any other member country without additional authentication. This process makes international document use easier by providing a single, standardised stamp or seal. For instance, if you have a document issued in Australia (a Hague member state), and want to use it in Saudi Arabia, which accepts apostille certificates, you have to get an apostille stamp from the Australian Competent Authority. Features of Apostille Accepted in 124+ countries: Apostille is valid only in certain countries that are among the 1961 Hague convention. One-step verification: The document is verified by the issuing country’s Competent Authority such as the Ministry of Foreign Affairs. No embassy involvement: There is no requirement of verification at the visiting country’s embassy or consulate. Standardised certificate: The apostille stamp is easy to recognise as it follows a uniform format. Faster processing: Apostille can be done online apostille services or government portals, and it usually takes less time. Applicable for various documents: Educational certificates, commercial paperwork, personal documents such as birth or marriage certificates. What is Attestation? Attestation is a lengthier process needed for countries that are not a part of the Hague Convention. It contains many levels of verification by officials from both the issuing and destination countries’ embassies or consulates. For Saudi Arabia, which is not a Hague member state, requires attestation for most documents. The process starts with notarisation and verification by local authorities, after which it is authenticated by the issuing country’s Ministry of Foreign Affairs. Then, the document should be attested by the Saudi Embassy or Consulate, followed by the Ministry of Foreign Affairs (MOFA) in Saudi Arabia. Features of Attestation Multiple-step process: Notarisation, state-level verification, Ministry of Foreign Affairs authentication, embassy attestation, and MOFA attestation are included in the process. Must for non-Hague countries: Required for countries like Saudi Arabia, UAE, and other countries which are not a part of the Hague Convention. Embassy and Consulate involvement: The diplomatic missions of the visiting country must attest the documents. Longer processing time: Attestation typically takes few weeks due to several steps. Country-specific rules: Each country may have its own set of requirements and processes. Full legalization: Ensures that documents are completely legalised for official use in the visiting country. Main differences between Apostille and Attestation Features... --- > Saudi Arabia’s “Made in Saudi Arabia” initiative is a strategic program aligned with Saudi Vision 2030, aiming to restructure the economy. - Published: 2025-06-02 - Modified: 2025-06-02 - URL: https://analytix.sa/how-made-in-ksa-is-reshaping-business-and-industry/ - Categories: Articles Saudi Arabia’s “Made in Saudi Arabia” initiative is a strategic program aligned with Saudi Vision 2030, aiming to restructure the economy. This program opens up new opportunities for national companies and international companies. The Minister of Industry and Mineral Resources extensively invests in manufacturing and industrial development to lessen imports and increase exports. The government and other entities like the Saudi Export Development Authority strongly promote local products to promote Saudi products and services domestically and globally. Companies that choose Saudi-made goods benefit from increased market access and low costs. What is the “Made in KSA” initiative? The Made in Saudi Arabia program promotes innovation across various sectors, supporting local manufacturing and production. The government launched this initiative to strengthen its industrial sector. Companies that produce goods in the country itself instead of importing them receive incentives. The program includes several sectors, such as food, textiles, electronics, construction materials, and more. Local factories not only generate jobs for citizens but also minimise dependency on foreign products. This approach boosts the national economy and promotes sustainable growth. What are the benefits for businesses? Cost SavingsLocal production cuts transportation costs majorly. Companies can save on expenses like shipping, customs duties, and storage fees. Businesses can save 30-40% on transportation expenses by sourcing locally. Supply chains become more efficient as the products come from factories that are nearby. Companies get their goods delivered fast and avoid delays that might happen with international shipping. Businesses can better serve their customers and maintain inventory levels as a result of this speed delivery. Quality Assurance Manufacturers follow the high-quality standards set by government agencies. The Saudi Standards, Metrology and Quality Organization (SASO) makes sure that the products meet the international standards. Local suppliers tend to offer better customer service and quicker problem resolution. Market Access Benefits The government gives preference to Made in Saudi products for its projects. This policy ensures demand for local manufacturers. National industries also prefer Saudi-made projects, as it will aid national objectives. Government Support Programs Financial Incentives The Saudi Industrial Development Fund offers loans at low rates. Manufacturers can get up to 75% funding on new projects. Eligible firms can get tax reductions and exemptions. The government supports investment in local manufacturing. The Public Investment Fund has invested over $20 billion in industrial projects in 2023. This financing backs both local and international companies setting up their base in the nation. Infrastructure Development The government is building industrial cities equipped with modern facilities. These zones provide ready-to-use factories, utilities, and transportation links. Companies can easily and quickly start their operations without making major infrastructure investments. Riyadh, Jeddah, and Dammam all have major complexes. These cities have ports, airports, and major highways that are easily accessible. This strategic advantage helps companies to connect with local and international markets more easily. The Industrial Development and Logistics Program and the National Industrial Development and Logistics Strategy are essential to the nation’s growth. They keep the nation’s infrastructure strong and up to global standards. Impact... --- - Published: 2025-05-23 - Modified: 2025-05-23 - URL: https://analytix.sa/saudi-hr-ministry-unveils-new-penalties-for-labour-law-violations/ - Categories: Daily News RIYADH: Saudi Arabia's Ministry of Human Resources and Social Development has recommended new penalties for offences against Labour Law and its rules. Minister Ahmed Al-Rajhi announced this update, which aims to clarify and define offences more clearly for both businesses and inspectors. This goal is to lessen personal bias in enforcement, increase transparency and adapt to new work trends such as flexible and remote work. The proposed penalties are currently available on the Istithlaa platform for public feedback before being implemented. Violations are categorised as serious and non-serious with fines based on the size of the firm: 20 or less workers, 21 to 49 workers and 50 or more workers. Serious violations have the highest penalty. It includes: Violations Penalties Running labour recruitment or outsourcing services without a license SR200,000 - SR250,000 Employing Saudi nationals without required license SR200,000 Non-Saudi worker hired without a work permit (Fines will multiplied by the number of workers) SR10,000 Hiring non-Saudis for jobs reserved for Saudis or falsely registering Saudis SR2,000 - SR8,000 Allowing employees to work for third parties or independently SR10,000 – SR20,000 Failing to adhere to occupational safety and health standards SR1,500 – SR5,000 Delayed or withheld wages SR300 per worker Discriminatory practices or procedural failures in misconduct investigations SR1,000 – SR3,000 Non-serious violations include fines to not grant weekly rest, failure to provide service certifications, lack of medical insurance, or failure to disclose contract information. These violations could give a penalty of SR300 to SR3,000. According to the Ministry, these reforms will improve legal clarity, promote fair labour practices, and secure the rights of workers and employers. Stakeholders and the public are asked to give their feedback before the new penalties are finalised. --- > In this blog, we’ll explain clearly the steps involved in Saudi visa stamping and answer frequently asked questions - Published: 2025-05-20 - Modified: 2025-05-20 - URL: https://analytix.sa/documents-required-for-saudi-visa-stamping/ - Categories: Articles Traveling to Saudi Arabia? No matter whether you are traveling for work, pilgrimage or for a family visit, one thing is certain: You can not forgo visa stamping. And if you are already in the process of gathering the documents, you might be worried of missing anything. Don't worry, you're not the only one out there! When it comes to visa stamping for Saudi Arabia, the document requirements might seem like an endless maze of paperwork and documents, especially with different requirements for different visa types. However, the process becomes simpler when you understand the specific documents you need, what role each document plays in the process, and how to get them. In this blog, we'll explain clearly the steps involved in Saudi visa stamping and answer frequently asked questions while outlining some tips in relation to avoiding last minute stress. We aim to ease your travel to the Kingdom as much as we can. So let's get started! Overview of Saudi Visa Stamping Saudi visa stamping is an essential procedure that allows a foreign national to legally enter the Kingdom of Saudi Arabia (KSA). A visa is issued by the Saudi Ministry of Foreign Affairs (MOFA), it is required to be endorsed in the applicant’s passport through a Saudi Embassy or a Consulate located in the applicant's country of domicile or residence. The visa stamping procedure verifies the validity of the visa, confirming that the applicant has fulfilled all legal, health, and administrative obligations. It usually entails the submission of a specific set of documents to a designated visa processing center where these documents are checked for compliance and then sent to the Saudi mission for stamping. Different types of visas, such as employment visa, family visit visa, business visa, or religious visa may have different processes and requirements. Furthermore, individuals from specific countries and certain professions may be subject to additional procedures such as medical examinations, security clearances, and certificate attestation. The last step in the process of traveling to Saudi Arabia is visa stamping. Only after successful visa stamping can the holder commence travel plans and enter the country based on the validity and regulations of the stamped visa. Why Is Saudi Visa Stamping Important? Saudi visa stamping is issued at a Saudi embassy or consulate abroad. It becomes the single most important document that permits access into the Kingdom. Without the endorsement of the Saudi Embassy or Consulate, the foreign passport cannot be used to travel to the country, even if there is a visa issued. This process does not simply authenticate the visa, but ensures that all legal documents, health documents, and security clearance have been complied with Saudi law. Visa stamping is particularly critical to some people for traveling for employment with major companies or government offices in Saudi Arabia. For instance, employees brought in to serve SABIC (Saudi Basic Industries Corporation), one of the largest petrochemical manufacturers in the world, need to go through the visa stamping process prior to starting work. Given... --- > Want to know what business incubators and coworking spaces are in Saudi Arabia and how it helps businesses thrive in the developing economy - Published: 2025-05-20 - Modified: 2025-05-20 - URL: https://analytix.sa/business-incubators-and-coworking-spaces-in-saudi-arabia/ - Categories: Articles The Vision 2030 initiative is actively reshaping the economic landscape of Saudi Arabia. Apart from innovation and growth in the private sector, the Vision 2030 strategy promotes diversification of the economy as well. Startups and small-to-medium enterprises (SMEs) are essential to this vision, and to assist them, the Kingdom is heavily investing in business infrastructure. Among the key pillars of this development are business incubators and coworking spaces, which equip entrepreneurs with plentiful tools, adequate guidance, and the optimal environment that increases their chances of success. The Saudi government is working hard to develop domestic businesses in addition to attracting foreign investment, which is making these supportive frameworks important to the national entrepreneurial ecosystem. What are Business Incubators and Coworking Spaces? Business incubators are comprehensive programs that actively assist early-stage startups through appropriate mentorship, adequate workspace, access to funding, and strategic guidance. They are designed to support new businesses and provide assistance to them from ideation to scaling. The main purpose of business incubators is to help the founders to construct business models, verify ideas, and develop viable operations in a guided environment abundant in resources. Incubators are known to work along with government bodies, universities, or other privately funded organizations. Several of them grant access to workshops, investor hangouts, and niche specific advisory boards enabling entrepreneurs to transition from concept to commercialized business. These are exceptionally useful to those businesses which have a lot of potential but resources are limited. On the other hand, coworking spaces are tailored shared offices to meet the needs of startups, freelancers, and even big businesses looking for flexible working arrangements. These spaces normally come with high-speed internet, meeting rooms, administrative support and host events to encourage collaboration and networking among members. In Saudi Arabia, Coworking spaces have changed from simple desk rental facilities to vibrant community spaces that promote inter- and cross-sector collaboration. They are increasingly popular among remote workers and SMEs because of affordable pricing and value for connections. Key Government and Private Sector Initiatives Supporting Incubation in Saudi Arabia Saudi Arabia receives significant funding and support from the government and private sector to promote the growth of its entrepreneurial ecosystem. Some initiatives include Monsha'at, which sponsors SME’s through the establishment of regional hubs, incubators, and accelerator programs across the nation. Another example is the MiSK Foundation, which promotes entrepreneurship by financially sponsoring the youth and later providing them with training and mentorship. Further, King Abdulaziz City for Science and Technology Incubators (KACST) concentrates on technological innovations. Furthermore, STC’s InspireU and KAUST’s TAQADAM Accelerator also fund private-started projects allowing for rapid scaling. All these initiatives provide access to funds, legal support, and international marketing which in turn builds a competitive identity to the startups in the Saudi business ecosystem. What Startups Should Look for in an Incubator or Coworking Space In Saudi, when looking for a coworking or incubator space, startups have to consider some distinct factors. First, ensure the rent provides value for mentorship, networks with relevant investors, and business development... --- > SABIC produces a wide range of products which are important for industries such as automotive, construction, electronics, agriculture, packaging, and healthcare - Published: 2025-05-19 - Modified: 2025-05-19 - URL: https://analytix.sa/sabic/ - Categories: Articles What is SABIC? SABIC, short for Saudi Basic Industries Corporation, is one of the world’s largest and most significant petrochemical companies. With its headquarters in Riyadh, SABIC has positioned itself as a global leader in chemicals, polymers, fertilizers and metals, supporting industries in over 50 countries. Understanding SABIC’s impact and potential is important for companies looking to expand their businesses internationally. History of SABIC SABIC was established in 1976 by royal decree for transforming oil byproducts into valuable chemicals and materials. SABIC has grown rapidly since then, fuelled by Saudi Arabia’s mission to diversify the economy. In 2020, Saudi Aramco, the world’s largest oil producer, got a 70% stake in SABIC, strengthening its role as a key pillar in Saudi Arabia’s Vision 2030. Headquarters and Global Operations SABIC’s headquarters are in Riyadh, but its reach stretches worldwide. The company has manufacturing sites, R&D centres in the Middle East, Europe, Asia, and America. The entity, with its presence in more than 50 countries, provides innovative and sustainable solutions for customers everywhere. What does SABIC do? SABIC produces a wide range of chemicals, advanced polymers, fertilizers, and metals. These products are important for industries such as automotive, construction, electronics, agriculture, packaging, and healthcare. SABIC’s global R&D centres continually develop new materials that focus on sustainability and high performance. Why is SABIC important? SABIC has a key role in the global industrial landscape for many reasons: It provides essential raw materials which drive global manufacturing operations. It promotes innovation in sustainable materials including circular economy models and bio-based plastics. It supports economic diversification and generates jobs in Saudi Arabia and beyond. SABIC’s initiatives help businesses get access to new technologies, expert knowledge and investment opportunities. SABIC’s Core Business Segments SABIC’s business is divided into four key segments: Petrochemicals: It’s the largest segment manufacturing plastics, resins, and chemicals. Agri-Nutrients: Fertilizers and related products used in global agriculture. Metals: Steel and aluminum products used for construction and manufacturing. Specialties: High-performance materials used for advanced sectors. SABIC and Saudi Vision 2030 SABIC is vital for Saudi Arabia’s Vision 2030, a strategy set by the kingdom to diversify its economy and reduce reliance on oil revenue. SABIC contributes by: Generating new jobs and nurturing local talent Empowering small and medium enterprises (SMEs) and entrepreneurs Investing in green technology and renewable energy Attracting foreign investment and developing global partnerships Developing innovative manufacturing and R&D capabilities The Future of SABIC SABIC invests heavily in innovation, sustainability and global expansion. Major future plans include: Launching eight mega projects with an estimate of $2. 7 billion to optimize energy and feedstock use. Reaching a recurring annual synergy value at $1. 5–1. 8 billion with Saudi Aramco by 2025. Expanding advanced recycling and low-carbon manufacturing Producing new materials for renewable energy, automotive and construction industries. Hosting significant industrial events, such as the SABIC Technical Meeting and Conference 2025, to promote technological innovation and sustainability. In the future, SABIC’s commitment to sustainability, digital transformation, and global partnerships will keep it at the top... --- - Published: 2025-05-14 - Modified: 2025-05-14 - URL: https://analytix.sa/saudi-us-forum-fuels-kingdoms-economic-transformation/ - Categories: Daily News RIYADH: The Saudi-US Investment Forum, took place on May 13, 2025, making it a key milestone in the growing economic partnership between Saudi Arabia and the United States. Top leaders from both countries, including key business figures such as Elon Musk attended the event, to discuss the kingdom’s ongoing economic transformation under Vision 2030. Uber CEO Dara Khosrowshahi announced that autonomous vehicles will be launched in Saudi Arabia within a year. Uber has grown rapidly in the kingdom employing more than 140,000 Saudi drivers, who now serve over 4 million riders across 20 cities. Khosrowshahi stated that self-driving technology will increase safety and lessen costs and mentioned that Uber has collaborated with 18 partners to ensure a safe launch. The forum highlighted Saudi Arabia’s ambitious giga-projects. Jerry Inzerillo, CEO of Diriyah Company, described the $63. 2 billion transformation of Diriyah, a UNESCO World Heritage Site, into a global cultural and tourism hub. The project that employs 45,000 workers and involves 83 American companies, has already received 3 million visitors. Michael Dyke, CEO of the New Murabba project, presented the Mukaab, a huge technologically advanced building which will become an iconic landmark in Riyadh by 2030. The Mukaab will offer thrilling experiences through artificial intelligence and holograms. Rayan Fayez, Deputy CEO of NEOM, spoke of the $500 billion city, which is being built on the Red Sea. NEOM, spanning 26,500 square kilometres, relies on advanced infrastructure, renewable energy and the world’s largest green hydrogen project, which was built in partnership with US companies. Tourism was another significant subject. Ahmed Al-Khateeb, Minister of Tourism, announced that Saudi Arabia received 115 million tourists in 2024, exceeding the target of 100 million set by Vision 2030. The sector employs 7% of the workforce, a 2% increase, and aspires to attract 50 million international tourists by 2030. Tourism’s contribution to GDP is projected to go up from 5% to 10%, making it as significant as oil to the economy. In 2024, trade between Saudi Arabia and the US amounted to $32. 5 billion, with US foreign direct investment now at $54 billion, the largest in the kingdom. The forum addressed the ongoing collaboration in technology, clean energy and advanced manufacturing, indicating both countries’ commitment to innovation and economic growth. --- - Published: 2025-05-05 - Modified: 2025-05-07 - URL: https://analytix.sa/jeddah-launches-29-real-estate-projects-to-boost-investment/ - Categories: Daily News RIYADH: Jeddah Municipality announced 29 new real estate investment projects, totaling over 1. 4 million square meters, aimed at commercial, industrial, residential, and recreational sectors. The program has 13 commercial projects, which includes the construction and management of retail shops and commercial complexes in various regions. Furthermore, two key container projects are planned – an integrated container city covering 846,684 sq. meters and a second container park spanning 429,223 sq. meters. Additional developments include a 145,472-sq. -meter barley milling and package facility, eight residential compounds for workers and eight public parks with kindergartens and retail outlets. A food truck zone has been developed in South Obhur, as part of the municipal incubator program, along with a new health college project in the education sector. These projects are strategically set up to meet neighbourhood needs and promote collaboration between various activities. The municipality is asking the investors to submit their proposals through the Furas Saudi investment portal, the submissions will remain open from May 1 until July 8. The Furas portal will improve investor access and represent a consistent approach to municipal investments. This announcement is similar to the investment opportunities launched lately in Riyadh, which indicates a nationwide push to diversify Saudi Arabia’s economy and increase urban livability. Riyadh’s investment portfolio of 2025 consists of 20 new projects totaling 175,000 sq. meters, primarily in commercial, industrial, and leisure spaces, with contracts spanning from 5 to 25 years. Key districts have been prioritized for balanced growth and the city has increased its green infrastructure by including 87 parks since 2022, reaching more than 745,000 sq. meters of green space. These parallel projects indicate Saudi cities’ dedication to sustainable urbanization, economic diversification and an enhanced quality of life, supporting the kingdom’s Vision 2030 strategy. --- - Published: 2025-05-03 - Modified: 2025-05-07 - URL: https://analytix.sa/saudi-insights-saudi-arabia-net-fdi-climbs-26-in-q4-2024/ - Categories: Daily News RIYADH: Saudi Arabia’s Net foreign direct investment (FDI) reached SR22. 1 billion ($5. 89 billion) in the fourth quarter of 2024, a 26% increase from the previous quarter — the highest quarterly figure of the year. The surge outpaced the previous quarterly results of 2024, with net FDI at SR15. 5 billion in Q1, SR19 billion in Q2, and SR17. 5 billion in Q3, indicating rising investors confidence as the country works towards its Vision 2030’s economic transformation goals. FDI inflows in Q4 2024 were SR23. 8 billion, a 17% increase from Q3, while outflows fell to SR1. 8 billion, a drop of 39% from the previous quarter. Saudi Arabia aims to attract $100 billion in FDI yearly by the end of the decade as it would help in reducing the kingdom’s reliance on oil revenue and develop sectors like tourism, technology, logistics, and renewable energy. The country’s initiatives include regulatory reforms such as revised investment law approved in October, promising greater transparency, simplified processes and improved investor protections such as property rights and easier fund rights. Saudi Arabia’s climb to the 13th position in the Kearney’s 2025 Foreign Direct Investment Confidence Index and its ranking as the third-most attractive emerging market reflects the continued global confidence in the kingdom’s economic transformation strategy. Saudi GDP Rises 2. 7% in Q1 2025 RIYADH: Saudi Arabia’s real GDP surged by 2. 7% on a yearly basis in the first quarter of 2025, as per the flash estimates from the General Authority for Statistics (GASTAT). This growth was mainly due to a 4. 2% rise in non-oil activities, making it the 17th consecutive quarter of non-oil sector growth. Government services also played a key role, rising by 3. 2% during the period. In contrast, oil related activities fell by 1. 4%, indicating the result of OPEC+ production cuts and lower global oil prices. The rapid growth of the non-oil sectors supports the Vision 2030’s strategy which aims to reduce reliance on oil revenue and diversify the economy. GASTAT’s latest complete revision of GDP estimates includes changes to nominal and real GDP aiming to improve data quality and complying with international standards. The revision also raised the reported contribution of non-oil activities to 53. 2% of GDP, a 5. 7% increase over previous estimates. On a quarterly basis, seasonally adjusted GDP increased by 0. 9% quarter-on-quarter, with government activities rising by 4. 9% and non-oil output up by 1. 0%. The oil sector’s GDP fell by 1. 2% compared to the previous quarter. Regionally, Saudi Arabia’s economic growth surpassed Qatar’s 1. 7% and Bahrain’s 2. 1% but less than the UAE’s expected 4% for 2024. Saudi authorities are actively investing in data infrastructure and advanced technologies to enhance statistical accuracy and assist with economic planning. GASTAT officials emphasized that accurate statistics are crucial for development and long-term growth in the kingdom. Saudi Arabia to build $79M Logistics Zone at Dammam Port RIYADH: Saudi Arabia’s General Ports Authority (Mawani) signed an SR300 million ($79 million)... --- > This blog will guide you about the Muqeem portal, explain its importance in managing residency and visa services, and give insights on how to register on this platform in 2025. - Published: 2025-04-30 - Modified: 2025-05-08 - URL: https://analytix.sa/what-is-the-muqeem-portal-and-how-to-register-on-it/ - Categories: Articles If you are a foreign investor or expatriate planning to expand your business or relocate to Saudi Arabia, understanding the Muqeem Portal is essential. This blog will guide you about the Muqeem portal, explain its importance in managing residency and visa services, and give insights on how to register on this platform in 2025. Additionally, we will answer any doubts you may have about checking visa status, its validity and more. By the end of this blog, you will get to know how Analytix can easily help you manage this process. What Every Expat Should Know About the Muqeem Portal The Muqeem Portal is a digital platform developed by the Saudi government to oversee residency permits, visa statuses and related services for foreign investors and expatriates. Registration on the Muqeem portal is necessary for everyone living or working in the kingdom. It simplifies processes such as visa renewals, exit and re-entry permits, and residency updates. However, the registration process on Muqeem portal can be somewhat complicated, particularly for those unfamiliar with Saudi Arabia’s regulatory framework. It includes several steps including submitting detailed company and personal information, verifying documents such as the Commercial Registration (CR) and Chamber of Commerce (CoC) letters, and payment steps, which require careful attention. Many businesses and individuals find the process complex due to requirements and the need for official approvals. The process can be simplified and completed on time with professional guidance. What is Muqeem Portal in Saudi Arabia? Muqeem Portal is an official Saudi Government Portal designed to assist expatriates and businesses in properly managing residency and visa documents. “Muqeem” means ‘resident’ in Arabic, emphasizing its focus on resident workers and visitors. Employers can efficiently manage foreign employees’ residency permits (Iqamas), track visa validity, issue Muqeem exit & re-entry permits, and electronically update residency data through the Muqeem Portal. This centralized system contributes to Saudi Arabia’s Vision 2030 by establishing a transparent, paperless environment that promotes compliance and efficient business operations. How to Register on Muqeem Portal? The Muqeem Portal registration process consists of multiple steps like filing out company registration forms, attesting Chamber of Commerce letters and activating the portal account with valid commercial registrations and ID documents. Due to the numerous requirements of formalities and approvals from different Saudi authorities, the registration process can seem difficult and time-consuming. Expatriates and foreign investors should seek expert advice to complete the Muqeem portal registration successfully. This ensures that all the documents are submitted without any errors and properly, without delays or legal issues. Talk to an Expert Conclusion: In summary, the Muqeem portal is a platform that foreign investors and expatriates must use to manage their residency, and visa matters in Saudi Arabia. Although the registration process can seem a bit difficult but having a partner like Analytix, an industry expert, makes it easier for you to access Muqeem portal, check visa validity and Muqeem travel documentation. FAQs Frequently Asked Questions If your question is not addressed here, please feel free to reach out to... --- > Are you looking for proven strategies and expert assistance to grow your business in Saudi Arabia? Are you one among many businesses in KSA struggling to compete in the tough business landscape of the country? - Published: 2025-04-30 - Modified: 2025-04-30 - URL: https://analytix.sa/strategies-to-grow-a-successful-business-in-ksa/ - Categories: Articles Are you looking for proven strategies and expert assistance to grow your business in Saudi Arabia? Are you one among many businesses in KSA struggling to compete in the tough business landscape of the country? Then this blog is for you. The economy of Saudi Arabia is experiencing a major transformation, and is opening up new opportunities for entrepreneurs and businesses from all industries. Along with this is the Vision 2030, through which the Kingdom is planning economic diversification away from oil, and building an economy that welcomes secure foreign investment, foster innovation, and enhance growth within the private sector. However, thriving in this fast paced environment offers much more than simply seizing opportunities, it requires meticulous strategy, cultural intelligence, and legally grounded decision making. In this article, we’ll discuss our proven strategies and tips that can help you navigate the complexities of business setup in Saudi Arabia and achieve sustainable success. Building the Right Team Every successful business is driven by a capable team that works well together. Cultivating the right workplace culture starts with making smart hiring decisions, and this is applicable for all businesses around the globe, no matter whether you're in Saudi Arabia or elsewhere. In this highly competitive sphere, the candidates that are creative, adaptive, technical have to be hired. Making tough choices when employees do not fit within the organization’s vision or core values is critically important too. An organizational culture that fosters ongoing development, resilience, and adaptability must be cultivated. Such employees must be recognized and supported. Here comes the role of Analytix, the best company for business setup in Saudi Arabia. We offer best business strategies regarding workforce optimization and specialized support for businesses in Saudi Arabia. Capitalizing On Your Competitive Advantage In any industry, clearly outlining and advertising the business's unique selling proposition is important for standing out from the competition. Businesses can separate themselves through the unique selling proposition (USP), such as having best customer service, innovative technology, quick shipment, or premier products. Trust, along with strong customer relationships is very important to understand the evolving needs and preferences of their customers. To effectively build and expand a USP, the business also needs to invest in reliable infrastructure, sophisticated technology, and compliance. A company that expertly outperforms its customers' expectations boosts loyalty and positions itself as a market leader. Broaden Your Company's Market Reach In order to effectively scale, a business needs to understand its growth economics, which includes analyzing unit costs, revenue models, and scalability strategies. A company’s adaptability in the post-pandemic world is a primary indicator of business resilience. It is imperative for companies to design adaptive business frameworks that can effortlessly pivot strategies and modify operations while maintaining service standards and operational efficiency. Focusing on Sustainable Growth Profitable growth may offer rapid returns in the short run, but it might be temporary as it sacrifices stability in the long-run. Rather, businesses must focus on sustainable growth that integrates the well-being of employees, social impacts, and environmental concerns.... --- - Published: 2025-04-28 - Modified: 2025-05-07 - URL: https://analytix.sa/saudi-arabia-achieves-highest-tourism-revenue-growth-leads-in-g20-nations/ - Categories: Daily News RIYADH: Saudi Arabia’s tourism sector hit a new record in 2024 as international tourism revenue rose by 148% compared to 2019, the highest growth rate among G20 countries. This spike is the direct result of the kingdom’s Vision 2030 reforms, which has established Saudi Arabia as a leading hub for tourism, entertainment and innovation. International tourist arrivals surged to 29. 7 million in 2024, a significant rise from 18. 04 million in 2016, whereas domestic tourists almost doubled to 86. 2 million within the same period. The kingdom exceeded the initial target of 100 million visitors seven years early and has now set a new goal of 150 million annual tourists by 2030. Major developments such as The Red Sea’s carbon-neutral resorts and the Red Sea International Airport have advanced sustainable luxury tourism while also improving regional connectivity. In Diriyah, 3 million visitors witnessed a blend of heritage and hospitality, while the Qiddiya entertainment district is nearing completion, which has attractions such as Aquarabia and Six Flags. Religious tourism remains vital, with 16. 9 million foreign Umrah pilgrims and 1. 61 million foreign Hajj pilgrims in 2024. Innovations like the Makkah Route Initiative and the Nusuk platform have boosted efficiency and satisfaction for pilgrims, while the expanded transport and healthcare services helped millions. Saudi Arabia further raised its global profile by winning the 2034 FIFA World Cup and hosting the first Esports World Cup. Eight UNESCO World Heritage Sites and international recognition for Saudi arts and heritage are the examples of cultural achievements. The tourism sector currently employs 966,500 people, with 112,000 Saudi women and investment risen to $3. 95 billion by late 2024. --- - Published: 2025-04-25 - Modified: 2025-05-07 - URL: https://analytix.sa/saudi-arabia-ranks-top-in-regional-and-6th-in-g20-for-geospatial-infrastructure/ - Categories: Daily News RIYADH: Saudi Arabia has made notable progress in geospatial knowledge infrastructure, by climbing 23 places from 32nd place in 2022 to 9th globally in the 2025 Geospatial Knowledge Infrastructure (GKI) Readiness Index. The kingdom now ranks first in the Middle East and Arab World and sixth among G20 countries. This achievement was announced at the Geospatial World Forum 2025, which was held in Madrid and the credit for this advancement is given to the efforts of the General Authority for Survey and Geospatial Information (GEOSA). Geospatial World developed the GKI Readiness Index, under the support of the United Nations Statistics Division, evaluates countries’ readiness to adopt and apply geospatial knowledge, which is important for economic growth, sustainable development, and digital transformation. Saudi Arabia’s progress is built on three focus areas: policy, infrastructure, and industry. The kingdom came in sixth position in the area of policy, owing to its strong governance of the national geospatial data system and compliance with the international best practices. In the infrastructure category, it ranked in the seventh position for bringing together national efforts and building a national geopolitical which is accessible to the public, and private sectors, academia, and individuals. Saudi Arabia ranked eighth in the geopolitical industry category, indicating its strong partnerships across sectors. The achievement supports Saudi Arabia’s broader goals under Vision 2030, promoting innovation and digital transformation. Leadership support has been vital, particularly from the Minister of Defense and GEOSA Board Chairman. As a result, Riyadh has been selected as the headquarters for the United Nations Global Geospatial Ecosystem Center of Excellence, further cementing the kingdom as a global leader in geospatial information management. --- > Every company should understand the Mudad portal and its registration process because doing so protects compliance and prevents financial penalties. - Published: 2025-04-11 - Modified: 2025-05-08 - URL: https://analytix.sa/mudad-compliance-system-and-its-registration-process/ - Categories: Articles Compliance with Labour laws is mandatory for doing business in Saudi Arabia. The Ministry of Human Resources and Social Development (MHRSD) launched the Mudad Compliance System, a digital platform that simplifies payroll management and ensures compliance with Saudi Arabia's Wage Protection System (WPS). Every company should understand the Mudad portal and its registration process because doing so protects compliance and prevents financial penalties. What is Mudad? The Mudad Compliance System provides Saudi Arabian businesses with an online payroll and compliance solution to run employee salary management efficiently through an integrated system that enables full compliance with labor laws. The platform is an integrated system operating as the connection point between financial establishments and the GOSI and MHRSD. Integrating Mudad and key entities simplifies payroll processing, compliance tracking, and reporting, so businesses can fulfill regulatory requirements more easily. Mudad works to develop a single platform that allows SMEs to perform affordable payroll management effectively. Businesses that use the Mudad Portal can make timely salary payments as well as compliance tracking and detailed payroll reporting and minimize their potential exposure to legal or financial penalties. Some of the key features of the Mudad Compliance System are:The Wage Protection System (WPS) Compliance: This makes sure employees receive their salaries as per Saudi labor laws without delays or deficiencies. Payroll Management: Process payrolls more efficiently and provide necessary tools for payroll administration. Compliance tracking: Monitoring payroll violations so that employers can solve concerns of employees or any disputes that arise. Integration with Key Entities: Connects businesses with financial institutions, GOSI, and the MHRSD for seamless operations. The Mudad Compliance System provides significant benefits to foreign companies doing business in Saudi Arabia. Mudad Compliance System simplifies payroll procedures while ensuring compliance with the Labour laws to minimize the risk of penalties and create a positive workplace culture. Mudad Portal Registration Process The registration on Mudad Portal is a straightforward process. However, it demands careful attention to detail and ensures compliance. Let us now take a look at the step-by-step process to complete Mudad Compliance Registration:Step 1: Open the Mudad PortalIt is the first step to start the registration process. Users can access the Mudad Portal either through MHRSD's website platform or directly using Qiwa. Step 2: Create an accountNew users should create an account in the Mudad Portal for registration. Enter your business name together with your commercial registration number and contact details as part of the registration process. Verify that all input data is correct because incorrect information may lead to delays during the registration procedures. Step 3: Verify your businessYou must submit the commercial registration certificate and authorization letter alongside other necessary documents to proceed with this step. Mudad Compliance System verification operates to verify that only legitimate businesses can access its features. Step 4: Complete the Mudad Compliance RegistrationYou can proceed with finishing the registration after your company verification and linking of your bank account. Mudad Compliance System will take you through the final stages which include configuring payroll details and employee... --- > In this blog, we will go through what QIWA in Saudi Arabia is, its benefits and how it can simplify your business operations. - Published: 2025-04-11 - Modified: 2025-05-08 - URL: https://analytix.sa/qiwa-in-saudi-arabia/ - Categories: Articles The rapidly evolving global economy continuously encourages foreign investors to seek new opportunities to expand their businesses. Saudi Arabia has positioned itself as one of the main international investment hubs through its Vision 2030 strategy. For foreign investors who are planning to expand their business to Saudi Arabia, understanding the various platforms is crucial. QIWA Platform is one such essential resource that simplifies workforce management and compliance with local labour laws. In this blog, we will go through what QIWA in Saudi Arabia is, its benefits and how it can simplify your business operations. What is QIWA Portal and How to Register on It? The QIWA platform is a digital platform created by the Ministry of Human Resources and Social Development (HRSD) in Saudi Arabia. Its main purpose is to make employment services and workforce management efficient for businesses in the kingdom. The portal simplifies processes including issuing work visas, managing employment contracts and ensuring adherence to labour laws. This helps foreign companies to meet Saudi labour requirements effectively. The QIWA Portal’s registration process is created in a way that is simple and user-friendly, allowing businesses to quickly access its various services. It consists of creating an account, verifying business details and activating the account via official channels. Upon registration, users can handle employment contracts, apply for work visas and use compliance tools, everything available at a single digital platform. Benefits of QIWA in Saudi Arabia QIWA in Saudi Arabia offers several advantages to businesses operating in the kingdom such as: Simplified Business Processes: The portal removes bureaucratic barriers by digitizing essential processes including employment contract approvals and visa applications. Enhanced Compliance: Businesses can easily comply with Saudi labour laws using automated monitoring and reporting systems. Support for SMEs: Small and Medium Enterprises (SMEs) benefit from the portal’s simplified processes, allowing faster setup and expansion. Alignment with Saudi Vision 2030: The platform helps to diversify the economy by drawing in foreign investors and generating job opportunities in various sectors. Financial Assistance Initiatives: QIWA’s financial support services provide finance options for businesses. Improved Transparency: Employers and employees both benefit from clear communication channels about employment contracts and rights. What Role Does QIWA Play in Saudi Arabia? QIWA has a key role in transforming Saudi Arabia’s labour market and fueling economic growth. Here are some key contributions: Encourages Foreign Investment: Simplification of labour-related processes attracts foreign investors who might otherwise be driven away due to complicated rules. Boosts Labour Market Efficiency: The portal lowers administrative burdens which frees up businesses to focus on innovation and productivity. Promotes Workforce Localization: QIWA promotes initiatives that will increase employment opportunities for Saudi Nationals, in accordance with Vision 2030. Ensures Adherence to Labour Laws: The system keeps businesses updated about the legal requirements, helping them avoid penalties or disruptions. Promotes Economic Diversification: QIWA helps balance the economy by promoting businesses other than oil. QIWA Portal for GM Visa Issuance One of the most crucial services the QIWA platform offers is the issuance of General Manager (GM)... --- - Published: 2025-04-11 - Modified: 2025-05-07 - URL: https://analytix.sa/saudi-arabia-sees-89-rise-in-licensed-tourism-hospitality-facilities/ - Categories: Daily News RIYADH: Saudi Arabia’s tourism and hospitality sector experienced a significant growth in 2024, with the number of licensed hospitality facilities increasing by 89%, reaching 4,425 across the kingdom. This shows the government’s continuous efforts to develop the sector and draw in more investors. The Ministry of Tourism's spokesperson, Mohammed Al-Rasasimah, mentioned that the expansion is part of a broader strategy for developing a world-class hospitality environment. He stated the rise as ‘remarkable’ and noted the increasing number of travelers is the main contributing factor. Makkah had 1,030 licensed facilities by the end of 2024, marking an 80% increase from the previous year. The region has gained the most licensed facilities and rooms, reflecting the kingdom’s commitment to improving services for tourists and Umrah pilgrims. The ministry stated that regular checkups are carried out to ensure that the facilities are meeting licensing standards. Fines are used to address violations under the Tourism Law and accommodation rules. The total number of licensed facilities reached over 3,950 by Q3 2024 across Saudi Arabia, other than Makkah, marking a 99% rise compared to the same month from 2023. The number of licensed rooms increased by 107%, reaching 443,000, up from 214,000 from the previous year. As per the CoStar data, Makkah and Madinah will have 17,646 and 20,079 rooms respectively by 2025. The number of inbound tourists increased from 27. 4 million in 2023 to 30 million in 2024. Saudi Arabia plans to draw in 150 million visitors annually by 2030 and increase tourism’s GDP contribution from 6% to 10%, supporting the goal of becoming a global travel hub. --- > Saudi Arabia has taken a major step towards improving corporate transparency by introducing the new Ultimate Beneficial Ownership (UBO) Rules. - Published: 2025-04-09 - Modified: 2025-04-25 - URL: https://analytix.sa/ultimate-beneficial-ownership-ubo-rules-saudi-arabia/ - Categories: Articles Saudi Arabia has taken a major step towards improving corporate transparency by introducing the new Ultimate Beneficial Ownership (UBO) Rules. These regulations, which came into effect on April 3, 2025, require companies to disclose their ultimate beneficial owners, in compliance with international standards such as the Financial Action Task Force (FATF) guidelines. In this blog, we will explore the key aspects of these rules, their impact on businesses and how Analytix can help companies in handling these requirements effectively. What are the New UBO Rules? The recently adopted UBO rules aim to promote corporate transparency in Saudi Arabia by establishing a centralized registry of ultimate beneficial owners. An Ultimate Beneficial Owner (UBO) is any individual who directly or indirectly owns at least 25% of a company’s share capital, controls 25% or more of its voting rights, or has considerable power over any corporate decisions made by the company. If no one fits these criteria, the company’s manager or board members may be classified as UBOs. Key Objectives: Promote corporate transparency in Saudi Arabia. Avert financial crimes like tax evasion and money laundering. Align with FATF recommendations for Saudi Arabia compliance. Who Needs to Comply? The UBO rules apply to all companies registered under the Saudi Companies Law, with the exception of publicly listed companies and certain exempt entities like state-owned companies and companies under liquidation under the Bankruptcy Law. Compliance Requirements Disclosure Obligations: Companies must submit their UBO information during incorporation and update it annually. Internal Registry: Companies must keep an internal register of BOs. Confidentiality: UBO data will be kept confidential and only accessible to regulatory authorities. Penalties for Non-Compliance Failure to adhere to these rules will result in penalties of up to SAR 5,00,000. Non-compliance includes failing to disclose UBO information, updating records or confirming details yearly. This highlights the need for timely and accurate reporting. Exemptions under Saudi UBO Regulations Certain entities are excluded from these regulations: Public joint-stock companies and companies wholly controlled by the Saudi government. Companies in liquidation under bankruptcy laws. Additional exemptions given by the Ministry of Commerce on a case-by-case basis. Why are these Rules Important? The implementation of UBO regulations is a major step towards achieving Vision 2030’s goals, which prioritizes economic diversification and global integration. These rules intend to boost investor confidence and align Saudi Arabia with International standards by promoting corporate transparency and preventing illicit financial activities. Ready to Start Your Business in Saudi Arabia? Check out the documents and requirements for Business Setup in Saudi Arabia How can Analytix help? Complying to regulatory changes can be challenging, particularly for foreign companies operating in Saudi Arabia. That's where we come in! As industry experts, we offer solutions to help companies like yours to understand how to disclose ultimate beneficial owners in Saudi Arabia, restructure ownership models and ensure compliance with the new rules. Talk to an Expert Conclusion The implementation of Ultimate Beneficial Ownership Rules is a transformative moment for businesses in Saudi Arabia. Companies must quickly act to... --- > This blog covers what an Exit Entry/Re-Entry Permit in KSA is, who requires the permit, the application process, and considerations to take note of. - Published: 2025-03-31 - Modified: 2025-05-15 - URL: https://analytix.sa/exit-entry-re-entry-permit-in-saudi-arabia/ - Categories: Articles Saudi Arabia's travel regulations can be complicated, especially in relation to permits needed to move in and out of the county. For expatriates and Saudi citizens, the Exit/Re-Entry Permits in KSA allows for temporary exit and re-entry into the Kingdom. Whether it's business travel, personal visits, or vacations, this travel permit must be obtained in advance for smooth travels. In this blog, you will learn what an Exit Entry/Re-Entry Permit in KSA is, who requires the permit, the application process, and considerations to take note of. For the residents and for those planning to stay outside Saudi Arabia for an extended period, this blog highlights everything essential ensuring smooth travel. So let's get started! What is Saudi Exit-Entry Permit? Known also as an “Exit/Re-Entry Visa” the Exit Entry Permit is a travel document issued by the Saudi Ministry of Interior (MOI) via Absher, an online issuing platform. This particular permit enables foreign workers to temporarily leave and re-enter Saudi Arabia within a specified period. As is the case with an exit visa that allows one to leave Saudi Arabia permanently, the exit/re-entry permit in KSA is a travel document that is intended for short trips. Who Requires an Exit-Entry Permit? Foreign nationals on work visas referred to as Iqama are the only ones who require the Exit/Entry Permit. This encompasses:Expats working in Saud under their employer’s sponsorship. Employees on work visas. Holders of temporary residency (Iqama) who are looking to travel for a short duration. How to Apply for a Saudi Exit/Re-Entry Visa? Applicants applying for the Saudi Exit/Re-Entry Visa must meet a set of prerequisites and requirements before receiving the visa:Visa fee has to be paid. Traffic fines, if any, shall be settled by the individual, worker, or even the employer before the visa is processed. Applicant have to be in Saudi Arabia at the time of issuance of the visa. Passport of the applicant has to be valid not less than 60 days. It is important that the applicant’s Iqama remains up-to-date and active. Fingerprint capturing as an identification method is compulsory for those 15 years old and over. Expatriates with Exit/Re-Entry permits in KSA are allowed by the Saudi government to re-enter the Kingdom before the expiration date on their visa. Furthermore, an individual can extend their visa while they are outside the country by paying through Absher or Muqeem. Note: For the Exit/Re-Entry visa, expatriates need to have a valid passport for at least 90 days. For the Final Exit visa, a minimum passport validity of 60 days is required. Application Process An Expat and their Dependents can apply for Saudi Exit/Re-Entry Visa through Absher platform or the Muqeem portal. Through Absher For Employees of the Company: Employees with Absher accounts have been provided with a simple process to follow in order to obtain an Exit/Re-Entry visa. First, log in into your respective Absher account. Select your account “My Services” from the menu. Select “Services. ” “Passports” should be selected next. From “Visa Requests” click on... --- > National Address Registration Saudi Arabia is one of the many government initiatives aimed at improving the efficiency of postal & delivery services. - Published: 2025-03-31 - Modified: 2025-04-02 - URL: https://analytix.sa/national-address-registration-saudi-arabia/ - Categories: Articles Wondering what a national address registration in Saudi Arabia means? Pondering over why a national address in KSA is important and how to acquire one hassle free? As the Kingdom of Saudi Arabia encourages digital transformation, the National Address Registration Saudi Arabia is one of the many government initiatives aimed at improving the efficiency of postal and delivery services. This initiative allows individuals as well as businesses to register for a national address Saudi Arabia so they can effectively communicate with service providers, banks, and government entities. This also allows service providers to have a standardized address so the government, businesses, and other relevant authorities can easily locate them. So now lets look in detail at what is actually a national address KSA. So let's get dived in! What is the National Address Saudi Arabia? The goal of the National address Saudi Arabia is to improve location accuracy throughout the nation for individuals and businesses alike. It provides a standardized way to identify residential and commercial properties, making it easier for government agencies, businesses, and service providers to deliver mail, emergency services, and other essential facilities efficiently. With the National Address KSA, all residents and businesses of Saudi Arabia are assigned an individual address consisting of building number, street name, district, city, postal code, and supplementary numbers. This framework assists in the accurate identification of locations which is fundamental to the functioning of e-commerce, banking, logistics, public services, and a lot more. For smooth access to services and automated compliance with government policies, residents, citizens, and businesses are obliged to register their national address. The Benefits of National Address KSA Registration Saudi Arabia national address registration enhances personal and business functionalities, which can be helpful on multiple levels. It helps businesses to effectively interface with pertinent Saudi government departments such as the Ministry of Interior, Ministry of Labor, and the Ministry of Commerce. In addition, it also enhances logistics, ensuring smoother and more efficient deliveries. Below are primary benefits of the national address system:Offers full coverage of the kingdom with precise positional accuracy to 1 square meter. Alami enables the access to international addresses. Shipment delivery is expedited without any follow-up phone calls. Government documents, commercial goods, and personal items are delivered to the recipient's specified address. These advantages, in particular, are important when it comes to enhancing customer service and optimizing day to day processes. This makes the National Address Saudi Arabia an important tool of operational efficiency and business growth. Why foreign businesses must register their business address All foreign business entities that wish to operate in Saudi Arabia need to register their business address with the Saudi authorities. This serves not only as a legal formality but also has significance with regard to tax obligations and transparent business practices. A registered business address permits companies to correspond with relevant authorities, get legal notices, and establish a presence in the Kingdom. Not registering an address can lead to unwanted penalties, legal complications, and operational disruptions to operations. While... --- > Riyadh Municipality introduced 20 new investment opportunities for 2025 for development in commercial, residential, retail, industrial and leisure sectors - Published: 2025-03-25 - Modified: 2025-03-31 - URL: https://analytix.sa/saudi-insights-riyadh-municipality-launches-new-investment-opportunity-in-key-sectors/ - Categories: Daily News Riyadh Municipality Launches New Investment Opportunity in Key Sectors RIYADH: Riyadh Municipality introduced 20 new investment opportunities for 2025 for development in commercial, residential, retail, industrial and leisure sectors. The project, which spans over 20 locations and covers more than 175,000 sq. meters include mixed-use developments, retail spaces, mobile sports clubs, and construction material factories. Moreover, there are provisions for cafes and ATMs. Furas, municipality’s online platform for central hub for real estate and municipal investment opportunities allows investors to go through these projects. This project supports Saudi Arabia’s Vision 2030 which aims to boost private sector investment in urban development. The project aims to boost the collaboration between the government and investors, enhance urban life and speed up economic growth, according to the Saudi Press Agency. The investment site contracts are from five to twenty-five years across strategic locations such as Jarir, Al-Deerah, Al-Rawdah, Al-Hamra, and Al-Qadisiyah. The envelope opening is set for May 2025 and the interested investors can review the application process via a dedicated link. Riyadh opened 87 new parks in the last 3 years, reaching a total of over 700 parks, in an attempt to improve the city’s livability. With around 25,000 shrubs and 7,000 trees spanning over 745,000 sq. meters, the green areas promote social, cultural, and recreational activities within the community. Riyadh is on its way to becoming a vibrant, sustainable city with the help of these strategic investments and urban enhancements aligning with Vision 2030. Saudi Arabia Shifts Towards an EV Future RIYADH: Saudi Arabia is making notable developments in its electric vehicle (EV) sector, as part of its Vision 2030 strategy which aims to diversify the economy from oil. The kingdom is establishing itself as a leader in the global automotive industry by making significant investments in infrastructure, supply chain localization, and technology. The Saudi government wants 30% of its vehicles in Riyadh to be electric by 2030. In order to achieve this, the kingdom has heavily invested in US-based Lucid Motors and launched Ceer, an EV brand, with an aim to release its first models in 2026. The Public Investment Fund (PIF) has granted Lucid $3. 4 billion to make 155,000 EVs a year and a $5. 6 billion deal is granted to Human Horizons to boost the kingdom’s manufacturing capabilities. Saudi Arabia is focusing on battery manufacture by investing $9 billion in EV-related materials while utilising its $2. 5 trillion in untapped mineral resources. The kingdom is growing its network of charging stations to encourage the use of EVs through renewable energy initiatives and public-private partnerships. The government is working with global tech firms to use AI and automation in the manufacture of vehicles. Initiatives like NEOM and KAEC are also improving supply chains, generating jobs and reducing dependency on imports. By 2034, Ceer Motors is expected to create 30,000 jobs. Saudi Arabia is becoming a key player in the global EV industry, due to the financial incentives, regulatory support and partnerships with global manufacturers like Foxconn and Hyundai.... --- > In this blog, we've discussed the top cities to start a small business in Saudi Arabia which provide excellent growth opportunities. - Published: 2025-03-24 - Modified: 2025-03-24 - URL: https://analytix.sa/top-cities-to-start-a-small-business-in-saudi-arabia/ - Categories: Articles Thinking of starting a small business in Saudi Arabia? With the thriving economy and business friendly reforms, Saudi Arabia is considered to be an ideal destination for businesses planning to start a small business outside their home country. With the economic diversification effort under Vision 2030, several cities in Saudi Arabia offer exceptional advantages for startups and small scale businesses in the country. No matter whether you're a local entrepreneur or an expat looking for a small scale business opportunity in Saudi Arabia, there are many cities in the country that offer immense growth opportunities. So choosing the right city is very crucial for the success of your business. Below are the top cities in Saudi Arabia which provide excellent growth opportunities for small businesses. So let’s get started. Top 7 Cities to Start a Small Scale Business in Saudi Arabia 1. Riyadh The capital city Riyadh, is the epicenter of economic and administrative activities in Saudi Arabia. With a growing population of 6 million, Riyadh is expected to reach over 8 million by 2030, thus the city is expected to be proclaimed as a city with a high consumer base. The extensive growth of the city coupled with huge economic developments has attracted several international businesses and corporations to set their business foot in the country thus providing a favourable environment for small businesses. Technology, finance, retail, and hospitality, etc are the industries offering huge growth prospects for small businesses in Riyadh. The government's initiatives, such as the 'Program HQ,' have further enhanced Riyadh's appeal by offering lucrative opportunities for businesses to establish their presence in the city. The increase in new business registrations in the city also favours Riyadh as a top choice for small scale business in Saudi Arabia for expats. In Riyadh, the establishment cost of a company is too low and the GDP per capita is really high, making the city the most preferred by the small scale business owners. Also a large percentage of the city has access to quality education, which can be best leveraged by the business aiming to operate in the city. Also Read: How to Start a Business in Saudi Arabia & Business Setup in Riyadh 2. Jeddah Jeddah, the largest port in Saudi Arabia is the second most populous city after Riyadh in Saudi Arabia with around 4 million of population making it an ideal location for small businesses in the KSA. Jeddah being a go to city for all pilgrims who want to take pilgrimage to the holy cities of Makkah and Medina in Saudi Arabia is undergoing tremendous transformation in infrastructure development and related work, thus making it an ideal choice for small businesses. As part of Saudi Vision 2030, the King Abdul Aziz International Airport of Jeddah is undergoing a huge renovation to promote the tourism and hospitality industry thus offering opportunities for small business in Jeddah. With the growing population of the city, Jeddah offers immense opportunities for real estate businesses. The presence of a... --- > Saudi Arabia’s industrial production index (IPI) showed a year-on-year growth of 1.3% in January, owing to the manufacturing and waste management growth, according to the General Authority for Statistics. - Published: 2025-03-17 - Modified: 2025-03-31 - URL: https://analytix.sa/saudi-insights-saudi-arabias-industrial-growth-rises-in-january-fueled-by-manufacturing/ - Categories: Daily News Saudi Arabia’s Industrial Growth Rises in January, Fueled by Manufacturing RIYADH: Saudi Arabia’s industrial production index (IPI) showed a year-on-year growth of 1. 3% in January, owing to the manufacturing and waste management growth, according to the General Authority for Statistics. The index for the month of January was the same as that of the month of December at 103. 9%. Manufacturing sub-index grew 4% yearly, because of the 4. 3% rise in coke and refined petroleum products and 4. 2% increase in chemicals and chemical products. Manufacturing recorded a monthly rise of 0. 3% as coke and refined petroleum products saw a surge of 0. 1% and chemicals rose by 0. 5%. Mining and quarrying activity experienced a drop of 0. 4% year on year due to the reduced oil production, resulting to 8. 92 million barrels per day, a drop from 8. 96 million in January 2024. The sector recorded a slight month-on-month rise by 0. 1%. However, other manufacturing sectors reflected mixed outcomes. Non-metallic mineral products showed an annual increase of 6. 9% and a monthly increase of 1. 7% whereas basic metals manufacturing showed year on year decline of 0. 7% but rose by 0. 5% monthly. Paper product manufacturing saw an annual increase of 5. 1% but dropped by 0. 1% from December. Electrical devices manufacturing saw a yearly growth of 9. 2% and monthly progress of 0. 7%. Furniture manufacturing also saw an annual decline of 1. 5% and monthly decline of 0. 4%. The waste management sector experienced an annual growth of 8. 7%, however, electricity, gas, steam, and air conditioning supply fell by 1. 7%. This industrial growth supports Vision 2030’s goals to diversify its economy by developing non-oil sectors like petrochemicals, mining, and renewable energy. S&P raises Saudi Arabia’s rating as Economy Expands Beyond Oil RIYADH: Global ratings agency S&P raised Saudi Arabia’s credit rating from ‘A’ to ‘A+’, stating the kingdom’s continuous economic transformation as a major contributing factor. The report points out Vision 2030, which intends to lessen Saudi Arabia’s reliance on oil by developing sectors such as construction, logistics, manufacturing, and mining. This diversification is expected to upbring GDP growth between 2025 and 2028. S&P stated that Saudi Arabia might cut back on capital expenditure and related spending in 2025. However, it is expected that the investments under Vision 2030 will increase domestic consumption and economic productivity, particularly among the country’s youthful population. Recently, Saudi Arabia’s Public Investment Fund signed a $3 billion MoU with SACE, Italy’s state export credit agency, for assistance with debt management. S&P cautioned that Saudi Arabia’s sensitivity to oil prices may continue to affect fiscal and external stability until 2028. Furthermore, Oil revenue is expected to decline due to Aramco’s lowering dividends. According to the report, Saudi Arabia is positioned as a key player in the global energy market due to its significant hydrocarbon reserves and low-cost oil production. Saudi Arabia maintains the capacity to efficiently manage oil production levels to maintain global... --- > Banque Saudi Fransi (BSF) has signed a financing agreement of SR6 billion ($1.6 billion) with Diriyah Co. to help build the Wadi Safar project. - Published: 2025-03-14 - Modified: 2025-03-31 - URL: https://analytix.sa/bsf-diriyah-co-sign-1-6bn-deal-to-develop-wadi-safar-project/ - Categories: Daily News RIYADH: Banque Saudi Fransi (BSF) has signed a financing agreement of SR6 billion ($1. 6 billion) with Diriyah Co. to help build the Wadi Safar project. This deal is a testament to the private sector’s contribution to Saudi Arabia’s economic growth. The Wadi Safar project is a major part of the larger Diriyah area, which expects to welcome more than 50 million visitors by 2030. Premium residential properties, luxury hospitality facilities, recreational venues, and commercial spaces will be a part of the development. It aims to develop an upscale, gated community within Riyadh with three major resorts - Six Senses, Aman, and Oberoi, as well as the Greg Norman-designed Royal Diriyah Golf Club. The project supports Vision 2030’s objectives of increasing tourism and economic diversification. The Diriyah Gate Development Authority has set an example by combining heritage preservation with modern development, as demonstrated at Al-Bujairi Terrace, a popular tourist attraction since 2022. BSF’s CEO, Bader Al-Salloom, and Diriyah Co. ’s CEO, Jerry Inzerillo, highlighted that this partnership will not only strengthen Diriyah’s cultural and historical significance but also enhance sustainable development. The Wadi Safar project, which was launched in December 2023, is one of Diriyah Co. ’s major initiatives. It covers over 62 sq. km and is estimated to contribute SR18. 6 billion to Saudi Arabia’s GDP while creating around 178,000 job opportunities. This agreement reflects BSF’s commitment to supporting large-scale infrastructure and tourism projects that will help Saudi Arabia’s economic growth. --- > In this blog, we discuss how best an investor can take advantage of the tax benefit opportunities while doing business in Saudi Arabia. - Published: 2025-03-12 - Modified: 2025-03-25 - URL: https://analytix.sa/maximise-tax-benefits-as-an-investor-in-saudi-arabia/ - Categories: Articles Saudi Arabia has become one of the most important places for investors because they provide the benefits of remarkable tax incentives along with other business opportunities. The Kingdom’s efforts to achieve diversification through the Vision 2030 has led to abundant prospects for businesspersons and enterprises looking to set foot in the region. Maximizing tax benefits in Saudi Arabia greatly increases profitability while ensuring financial security in the long run. There are great tax savings to be enjoyed through careful business structuring in conjunction with Saudi Arabia’s Regional Headquarters (RHQ) program and residency options like Premium Residency. On top of that, key tax obligations such as withhold tax have to be properly comprehended to ensure compliance while minimizing liabilities within legal frameworks. In this blog, we discuss how best an investor can take advantage of the tax benefit opportunities while doing business in Saudi Arabia and make the Kingdom's changing business environment work for them. So ready to dive in? Let's get started! The Regional Headquarters (RHQ) Programme One of the biggest tax benefit schemes for multinational companies is found in Saudi Arabia’s RHQ Programme. This initiative aims to entice major global corporations to set up their regional headquarters in the Kingdom of Saudi Arabia by providing a tax incentive of a 30-year tax holiday. Such companies operating in Saudi Arabia are not subject to any corporate income tax and appreciation from using taxes on other payments that are granted within the approved firm operations. Requirements Companies are required to apply for an RHQ licence to meet the criteria, which contains specific key requirements, including sufficient assets and a set number of full-time employees in Saudi Arabia. The MENA businesses are particularly able to take advantage of this programme. Who Should Consider It? Multinational corporations seeking to penetrate the area can enjoy significant tax savings and the benefits of setting their regional headquarters in Saudi Arabia. Stimulating Economic Growth in Developing Areas The Saudi government is reluctant to foreign investment in poorly developed regions, hence offering a substantial tax incentive to help develop these areas. These regions include Ha’il, Jazan, Najran, Al-Baha, Al-Jouf, and the Northern Territory. Companies that Implement projects in these localities are eligible for tax benefits for a period not exceeding 10 years. Key Benefits: 50% deduction of training expenses incurred on providing training to employees from Saudi Arabia. 50% deduction from the tax base of salaries for employees who are Saudi nationals. A 15% deduction applies to shares not owned by Saudis if certain requirements are satisfied. Investors who spend more than SAR 1 million or hire at least five Saudis into managerial positions are entitled to greater deductions. Who Should Consider It? Companies that are interested in investing outside the populated areas will benefit greatly from these for the long run. Custom Duty Exemptions Saudi Arabia provides duty free importation other than the exemption of customs for raw materials and machines that are not produced locally. This makes setting up a business cheaper as it lowers... --- > Saudi Arabia is experiencing a significant transformation as it reduces its reliance on oil and expands into sectors including construction, green energy, and technology. - Published: 2025-03-10 - Modified: 2025-03-31 - URL: https://analytix.sa/saudi-arabias-labour-market-thrives-as-global-interest-grows/ - Categories: Daily News RIYADH: Saudi Arabia is experiencing a significant transformation as it reduces its reliance on oil and expands into sectors including construction, green energy, and technology. Government initiatives such as the Saudi Nationalization Scheme and Nitaqat motivated private sector employers to hire more Saudi Nationals, resulting in decline in unemployment rate. Moreover, investments in education and vocational training provide the workforce essential skills for emerging industries. Construction and Tourism Drive Job Growth Contract awards in the Construction Sector have reached an all-time high in 2024 at $146. 8 billion, exceeding the previous year’s record of $118. 7 billion. Over 53. 8% of the total project awards in the Gulf Cooperation Council came from Saudi Arabia. Rua Al-Madinah and Qiddiya are some of the large-scale projects that have been driving demand for skilled labour. The tourism sector is also expanding with plans to attract 150 million visitors year-on-year by 2030, generating jobs in hospitality, transportation, and cultural services. Technology and Green Energy Expansion With foreign investments and initiatives such as the $100 billion AI program and Project Transcendence, a data analytics program, the technology sector continues to grow rapidly, creating thousands of high-skilled jobs in AI, digital transformation and smart city projects like NEOM. As the green energy sector expands, there have been employment opportunities in solar and wind farms, aligning with the kingdom’s sustainability goals. Saudization and Workforce Inclusion Government policies such as the Nitaqat program have driven Saudi Nationals to participate in the private sector, especially in retail and tourism. Female workforce participation also increased, accounting for 36. 2% by late 2024, reaching more than the target set by Vision 2030. Flexible work opportunities are boosting inclusivity in various industries. Foreign Investment and Future Challenges With the Regional Headquarters initiative, over 540 multinational companies have set their bases in Saudi Arabia, generating job opportunities in professional services and consulting. With the introduction of the Golden Visa, many high-skilled professionals have relocated to Saudi Arabia. However, there are still some challenges like bridging skill gaps and improving vocational training. In order to maintain labour market growth, strategic government initiatives and private sector participation are crucial. --- > Planning to start a printing and publishing business in KSA? Read the blog to get idea regarding the printing and publishing license in Saudi Arabia. - Published: 2025-03-01 - Modified: 2025-03-03 - URL: https://analytix.sa/printing-and-publishing-license-in-saudi-arabia/ - Categories: Articles The adoption of digital technology and the demand for enhanced content has driven Saudi Arabia’s printing and publishing industry to grow at a rapid rate. If you intend to set up a printing press or even publish books, magazines or online media, attaining the correct license is an important step towards your goal. The publishing and printing sector is heavily controlled by the Saudi government to ensure compliance with content restrictions, copyright regulations, and national laws. Legal frameworks, licensing procedures, and operation directives can be a lot to take in for any new firm but understanding them can make this sector more approachable. Planning to start a printing and publishing business in KSA? Then this blog is for you. Read the blog and get to know everything regarding the printing and publishing license in Saudi Arabia. So let's get started. What is a Printing and Publishing License? The Printing and Publishing License is an official document issued in Saudi Arabia which permits business ventures to carry out printing, publishing and distribution of newspapers, magazines, books, as well as digital marketing content in the country. This license is issued by the General Commission for Audiovisual Media (GCAM) or other appropriate bodies depending on the nature of content being produced. The document is provided under the laws and regulations of Saudi Arabia concerning content, intellectual property, and culturally sensitive information for proper enforcement and publishing on printed material. Before commencing any operations, businesses that focus on commercial printing, media production, advertisement preparation, or book publishing are normally required to have this license. To avoid any legal fines or issues, a business is required to acquire this permit. Also It helps to maintain content quality and adherence to ethical standards, thus ensuring that materials published in the country align with the vision and regulatory framework of the Kingdom. Benefits of Having a Printing and Publishing License in saudi arabia Contribution to the Economy The printing and publishing industry of Saudi Arabia have significantly advanced the country’s economic growth. In 2020 the nation’s market for paper and paperboard packaging was tremendous, earning $1926. 3 million. The packaged amount is expected to set at an astonishing number of $2508. 4 million by 2026 with the projected steady growth rate of 4. 2% from 2021 to 2026. The expansion is much higher than the value of many countries because of the rise of emerging economies and the demand for printed material and packed goods. Preservation of the Culture The publishing and printing industry plays a significant role in the preservation of the cultural legacy of Saudi Arabia. There is a substantial production of books, journals, and publications that focus on history, literature, and even religion. These works serve to preserve and document the traditions of the Kingdom while deepening the understanding of its sophisticated historical and cultural identity. Religious Publications Saudi Arabia, being the cradle of Islam, is famous for its religious publishing industry. The industry has a significant contribution to the printing and publishing of... --- > Analytix Arabia unveils Business Incubation, Co-working Spaces, and Legal Consulting in Riyadh, supporting startups and businesses in Saudi Arabia. - Published: 2025-02-26 - Modified: 2025-02-27 - URL: https://analytix.sa/analytix-arabia-expands-services-to-support-businesses-in-saudi-arabia/ - Categories: Daily News RIYADH: Analytix Arabia has launched new services to further assist businesses in Saudi Arabia and globally. The new services are Business Incubation & Co-working Spaces and Legal Consulting. We celebrated the opening of our new office in Futuro Tower on King Saud Road, Riyadh. The inauguration was officiated by Indian Ambassador H. E. Dr. Suhel Ajaz Khan on February 25th, 2025. The inauguration ceremony was attended by esteemed guests, prominent business leaders, and government officials. This move reflects Analytix Arabia’s commitment to offering excellent support to businesses in Saudi Arabia. The new services are aimed at boosting entrepreneurship and help businesses grow: Business Incubation and Co-working Spaces: Provides startups with essential resources, mentorship and networking opportunities to help them succeed, along with flexible premium workspaces that promote cooperation and innovation. Legal Consulting: Offers expert legal advice to assist businesses in adherence to regulations and protect their interests. With these new services, we aim to serve our clients with exceptional support to businesses looking to expand in Saudi Arabia. We support clients in a variety of industries, promoting growth and success at every stage. Our entire business consulting services are tailored to each client's specific needs. With over 16 years of expertise and 2,000+ successful business setups in Saudi Arabia, we strive to offer better services to our clients. --- > Looking to start a business in saudi arabia from the UK? Then this blog is for you! - Published: 2025-02-19 - Modified: 2025-09-30 - URL: https://analytix.sa/start-a-business-in-saudi-arabia-from-the-uk/ - Categories: Articles UK businesses view Saudi Arabia as their key target market to enter the Middle Eastern market. The Kingdom presents substantial investing opportunities to international businesses because of its diverse economy along with business-friendly policies and Vision 2030 development goals. Knowledge about procedures of company formation in Saudi Arabia becomes essential for all business types including startups and SMEs and established enterprises to enter Saudi Arabian markets successfully. Proper market research, identifying the market demand and aligning your business goals with the economic priorities of the country must be completed before starting a business in Saudi Arabia from UK. The UK businesses actively participate in primary sectors such as construction, research and development (R&D) and tourism and aviation. Growing commercial relations between the UK and Saudi Arabia create new opportunities for businesses to enter the kingdom’s market. The process of expanding from the UK to Saudi Arabia begins by selecting an appropriate business structure. Foreign investors who want to operate in Saudi Arabia can set up either a Limited Liability Company (LLC) or a branch office or form a joint venture with a local partner based on their business requirements. After this, foreign businesses need to obtain a Ministry of Investment of Saudi Arabia (MISA) license which serves as the legal authorization for operating within the Kingdom. Businesses need to obtain commercial registration from the Ministry of Commerce after MISA approval. To make business transactions possible you need to maintain a corporate bank account with a Saudi-registered bank. Every business must complete tax registration with Zakat, Tax, and Customs Authority (ZATCA) to fulfill financial regulatory requirements. The process to register a business in Saudi Arabia from UK might also include obtaining some additional permissions and permits based on the specific sector. Steps for Starting a Business in Saudi Arabia from UK 1. Market Research and Business Plan The first step should involve market research in Saudi Arabia to identify business opportunities and assess industry competition. UK firms have immense opportunities in sectors like construction, tourism, research and aviation with substantial growth potential. To succeed in Saudi Arabia, firms need a business plan that matches local needs and Saudi’s economic goals. 2. Obtain the MISA Investment License Before starting a business in KSA from UK, foreign investors need to acquire an investment license through the Ministry of Investment of Saudi Arabia (MISA). This authorization grants UK businesses the legal right to conduct operations in Saudi territory. 3. Choose the right business structure Choose the appropriate business structure such as Limited Liability Company (LLC), a branch office or a joint venture. The LLC stands as the preferred business structure for UK businesses because it provides flexible operations with limited liability protection. 4. Acquiring necessary registrations The company requires a MISA license to proceed with its registration with the Ministry of Commerce for obtaining a Commercial Registration (CR) certificate. This formalizes the company formation in KSA from UK and makes it a legitimate business entity in Saudi Arabia. 5. Open a Corporate bank account... --- > Planning to renew your trade license in Saudi Arabia, but confused how to renew by being legally compliant? Don’t worry, read this blog to know complete details regarding the renewal process. - Published: 2025-02-19 - Modified: 2025-02-19 - URL: https://analytix.sa/trade-license-renewal-in-saudi-arabia/ - Categories: Articles Renewing a trade license in Saudi Arabia is very important for businesses to operate smoothly in the country without any legal complications. The Ministry of Commerce and other relevant authorities in Saudi Arabia are responsible for initiating the renewal process in KSA. Whether operating in the mainland or within a free zone, businesses must adhere to specific regulations, submit the necessary documents, and complete the renewal before the license expires to avoid penalties or disruptions. Planning to renew your trade license in Saudi Arabia, but confused how to renew by being legally compliant? Don’t worry, read this blog to know complete details regarding the renewal process. This blog explores the key steps, requirements, and important considerations for trade license renewal in Saudi Arabia, helping businesses stay compliant and operational in the Kingdom's dynamic market. Why is it Important to Renew Your Trade License? In Saudi Arabia, renewing a trade license is very important for legal compliance and using it effectively. Discover why renewing trade licenses is necessary in Saudi Arabia. Compliance with Legal Norms Renewing a trade license in Saudi Arabia on time ensures that your business is operating legally and within the legal structures which helps to avoid potential fines and legal issues. Continuity of Business Having a trade license that is valid prevents any operational interruptions to a business in Saudi Arabia and ensures that there is no stagnation that would hinder your company’s advancement and stability. Updating Government Records Renewing the trade license ensures that the relevant government authorities have accurate information about the business activities of the entity. Right to Services Businesses have the right to use a number of government services and advantages which require registration if there is an active trade registration. Reputation and Trust A renewed trade license creates an impression that aids strong trust in clients, partners and stakeholders thereby supporting business growth both physically and online. Key Requirements for Renewing Trade License in KSA To renew a trade license in Saudi Arabia, you have to get the following documents ready: Copy of current trade license. A copy of the company establishment card. Updated commercial registration information. A lease agreement of the business premises Copies of the Passports of the company owners and managers. Proof of the payment of the renewal charges. Some businesses may require other documents as well which are in specific to that business and its activities. So it is always advisable to check with the appropriate government body so you can have all the necessary documents ready to have a smooth renewal process. How to Renew Your Trade License Online in Saudi Arabia Renewing the trade license in Saudi Arabia is a very important process to ensure an uninterrupted operation of your business. The Saudi Ministry of Commerce and Investment (MCI) along with the Municipalities has set a streamlined process for businesses to renew their licenses online without much hussle. The following is a step by step guide to help you complete the renewal process seamlessly in Saudi... --- > LEAP 2025 in Riyadh highlights AI, smart contact lenses, and wearable technology, shaping the future with cutting-edge innovations. - Published: 2025-02-13 - Modified: 2025-02-13 - URL: https://analytix.sa/leap-2025-showcases-next-gen-ai-smart-lenses-and-wearable-tech/ - Categories: Daily News RIYADH: LEAP 2025 highlighted some revolutionary technologies that have potential to shape industries and the future. The event showcased advancements in AI, smart contact lenses and wearable technology. AI and Robotics SARA, Aramco’s AI powered voice assistant was introduced by the Saudi Accelerated Innovation Lab (SAIL), which is created for secure and industrial use. SARA, powered by AramcoMetaBrain, processes immense amounts of industry-specific data to ensure cybersecurity and operational efficiency. SARA will be soon available for business through Aramco Digital, providing a safe AI solution. Smart Contact Lenses XPANCEO, a Dubai-based firm revealed smart contact lens augmented reality capabilities. The lens comes equipped with amazing features that enhance vision by providing night vision and zoom features. Future versions are likely to offer health monitoring and display visual content directly on the lens. A prototype of the lens was shown at LEAP, with market release expected by 2026. Wearable Technology Dutch designer Anouk Wipprecht unveiled robotic dresses that are a merge of technology and fashion. Her designs are heartbeat-monitoring dress and the Spider Dress, which protects the user’s personal space using sensors. These innovations demonstrate the growing role of technology in fashion and urban living. LEAP 2025 continues to position RIyadh as a global hub for technological advancements, bringing forward futuristic solutions to the light. --- > Join LEAP 2025 in Riyadh on Feb 8, the top tech event driving AI, cybersecurity, and innovation, supporting Vision 2030 with top brands and speakers. - Published: 2025-02-10 - Modified: 2025-02-10 - URL: https://analytix.sa/saudi-arabia-is-set-to-host-leap-2025-a-landmark-event-in-tech-transformation/ - Categories: Daily News RIYADH: LEAP 2025, Saudi Arabia’s flagship technology event starts on February 8th in Riyadh, bringing together innovators, investors, and business leaders from around the world. The event follows Leap 2024, which brought in $13. 4 billion in investments and project commitments. LEAP 2025, under the theme ‘Into New Worlds’ aims to boost Saudi Arabia as a global technology hub, in support of Vision 2030, which aims to diversify the economy. Saudi Arabia has promised to invest $ 100 billion for the development of its tech sector and plans to invest 2. 5% of its yearly GDP in the sector by 2040. Tahaluf, the Ministry of Communications and Information Technology, Informa PLC, and other key partners are organising the event with an expectation of attracting 680 tech startups, 1,100 speakers, 1,800 technology brands and over 170,000 visitors. Driving Innovation LEAP is seen as a major platform to showcasing Saudi Arabia’s giga-projects like NEOM, Red Sea Global and Qiddiya. Industry leaders like Boston Consulting Group and Globant pointed out the country’s great work to build a knowledge-based economy using new technology and entrepreneurship. Key Highlights: LEAP 2025 will include: DeepFest, the leading AI forum in the region SportsTech Track focuses on innovations in sports technology, with famous footballers like Patrice Evra and Iker Casillas, being speakers at the event. Tech Arena features product demos and prototypes Future Mobility Pavillion points out advancements in electric vehicles and autonomous transport The event will have notable speakers like IBM CEO Arvind Krishna, Google Cloud CMO Alison Wagonfeld, and Saudi Esports Federation Chairman Prince Faisal bin Bandar bin Sultan Al-Saud. Companies like Saudi Aramco, Lucid, PepsiCo, and Logitech will also take part in the event. With a focus on investment opportunities, cybersecurity, and AI advancements, LEAP 2025 is set to boost Saudi Arabia’s position as a global technology leader. --- > King Salman Automotive Cluster in KAEC boosts Saudi Arabia’s auto industry, creating jobs, increasing exports, and advancing sustainable transportation. - Published: 2025-02-07 - Modified: 2025-02-07 - URL: https://analytix.sa/saudi-crown-price-introduces-king-salman-automotive-cluster-at-kaec/ - Categories: Daily News RIYADH: Saudi Crown Prince Mohammed bin Salman officially launched an automotive manufacturing hub ‘King Salman Automotive Cluster’ in King Abdullah Economic City (KAEC). This initiative aspires to make Saudi Arabia a key player in the global automotive industry. The cluster will be a hub for both local and international companies, with manufacturing facilities and headquarters. Key participants comprise of Ceer, Saudi Arabia’s first electric vehicle brand and Lucid Motors, which opened its first international factory in KAEC in 2023. Several Public Investment Fund (PIF) joint ventures will also be a part of this cluster. The high-tech Hyundai factory for car production and Pirelli’s tire manufacturing plant are also part of it. The project is a major step in Saudi Arabia’s economic diversification, helping boost local manufacturing, increasing exports, and advancing sustainable transportation. The cluster is projected to bring in approximately SR 92 billion to GDP by 2035 and make way for direct and indirect jobs. The cluster will boost research and development, improve supply chain efficiency and draw in investments from the private sector. Due to KAEC’s strategic location near a major port, businesses will benefit from the strong logistical support. Additionally, the project supports the National Industrial Development and Logistics Program, positioning Saudi Arabia as a leading industrial and logistics hub by encouraging high-growth sectors and attracting foreign investment. --- > Saudi Arabia and India strengthen trade ties, focusing on petrochemicals, mining, and automotive collaborations under Saudi Vision 2030 strategy. - Published: 2025-02-05 - Modified: 2025-02-07 - URL: https://analytix.sa/saudi-minister-visits-india-to-boost-industrial-and-mining-ties/ - Categories: Daily News RIYADH: Saudi Minister and India are strengthening their trade and investment relations, with an emphasis on industrial and mining collaborations. A High-Level Delegation led by Saudi Industry Minister Bandar Alkhorayef arrived in India for a four-day visit to discuss key partnerships in petrochemicals, pharmaceuticals, and automotive sector. The delegation consists of officials from the Ministry of Industry and Mineral Resources and the Local Content and Government Procurement Authority. The visit to New Delhi and Mumbai is part of Saudi Arabia’s Vision 2030 strategy to diversify its economy and boost its industrial and mining sectors. Saudi’s non-energy exports to India increased by 19. 4% in November, totaling SR2. 52 billion ($672 million), while India’s imports to Saudi Arabia amounted to SR3. 14 billion. The discussions in India aim to increase collaboration in petrochemicals, fertilizers, medical devices, heavy machinery, and automobile manufacturing. Alkhorayef met Indian Minister of Chemicals and Fertilizers Jagat Prakash Nadda and Union Minister of Heavy Industries H. D. Kumaraswamy on February 3rd, 2025, to discuss potential joint initiatives. The discussions also covered Saudi Arabia’s national industrial strategy and explored potential industrial collaborations, especially in the iron and steel sector. India displayed interest in Saudi Arabia’s magnesium deposits to support its iron and steel industry. The discussions also emphasized on Saudi Arabia’s hosting of the Saudi International Iron and Steel Conference. In a meeting with Indian Minister of Industry and Supply Piyush Goyal, both countries mentioned boosting economic ties and drawing in investments in key industries. In October, Saudi exports to India totalled SR8. 8 billion, with majority of the exports being mineral fuels, oils, waxes, and fertilizers, while imports were mainly vehicles, machinery, and industrial components. --- > Umm Al Qura IPO to fund Masar Destination in Makkah, a $26.6B project boosting hospitality, retail, and infrastructure under Saudi Vision 2030. - Published: 2025-02-04 - Modified: 2025-02-07 - URL: https://analytix.sa/umm-al-qura-ipo-to-finance-26bn-masar-project-in-makkah/ - Categories: Daily News RIYADH: Saudi Contractor, Umm Al Qura for Development and Construction Co. is going ahead with its IPO to support its Masar Destination project in Makkah worth $26. 6 billion. The company’s application has been accepted by the Capital Market Authority, allowing to issue over 130 million new shares, showing 9. 09% of its post-capital increase shares. The 3. 5 km mixed-use project, Masar, will have hospitality, residential, retail, and commercial spaces. It includes 41,000 hotel and service apartment keys and 9,000 residential units. The development will also hold a shopping mall, retail centers, a hospital, a mosque, office spaces and enhanced transport infrastructure. The IPO funds will be used for land settlements, infrastructure, project financing, and general corporate expenses, including sales, marketing, and administration. Abdullah Saleh Kamel, Chairman stated the significance of Masar in supporting Vision 2030 by increasing Makkah’s capacity for pilgrims and visitors. He stated the IPO to be a significant investment opportunity for institutional and retail investors. CEO Yasser Abuateek stated that the company was established in 2012 to improve Makkah’s urban and investment landscape. He mentioned IPO as evidence of Umm Al Qura’s growth and dedication to creating new urban destinations. Public Investment Fund, the General Organization for Social Insurance, and Dallah Al-Baraka Holding are the key shareholders of the company. The IPO is expected to raise investors’ interest as almost 99. 8% of the work has been completed, along with strong financial backing, positioning Makkah as a global religious and tourism hub. --- > Saudi Arabia’s real estate sector is booming with major projects, hospitality expansion, and foreign investment opportunities. - Published: 2025-01-29 - Modified: 2025-01-30 - URL: https://analytix.sa/saudi-arabias-real-estate-set-for-growth-with-billions-in-new-projects/ - Categories: Daily News RIYADH: Saudi Arabia’s real estate sector will grow significantly as leaders, investors and policymakers came together at the Real Estate Future Forum held in Riyadh to discuss significant projects and investments. Asir Gov. Prince Turki bin Talal declared that the Public Investment Fund (PIF) led the nine major projects in the region, with four already launched and five under development. He mentioned Asir’s role in the nation’s real estate market and its developing hospitality sector, which offers 6000-8000 approved hotel rooms. Al-Ahsa Gov. Prince Saud bin Talal announced strategies to expand hospitality offerings with more than 25 rural lodges and three five-star hotels, Hilton, Radisson Blu, and Hilton Garden Inn. Ahmed Al-Khateeb, Saudi Tourism Minister mentioned the industry’s growth, with a predicted rise of hotel rooms from 475,000 to 675,000 by 2030. He also highlighted that Riyadh will continue to be at the centre of Saudi tourism efforts, while efforts will also be placed in other regions to diversify growth. Major infrastructure projects like the King Salman International Airport expansion and the launch of Riyadh Air are predicted to boost real estate and tourism. Mohammed El-Kuwaiz, Chairman of Capital Market Authority, revealed that real estate companies comprise of 20% of the 55 initial public offerings under review by the authority. He also announced that listed companies with property in Makkah and Madinah can now accept foreign investment, boosting Saudi Arabia’s real estate market. --- > Read the blog and get to know the requirements, process, and benefits of acquiring an agriculture license in the Saudi Arabia. - Published: 2025-01-28 - Modified: 2025-01-28 - URL: https://analytix.sa/agriculture-license-in-saudi-arabia/ - Categories: Articles Hey, do you know that Saudi Arabia is also a land of opportunities for those who are planning to do an agriculture business in the country? Shocked! Yes, you heard it right! Saudi Arabia, despite all its arid climate and limited water resources, is a treasure trove of agricultural development thus ensuring food security and economic diversification of the country. But inorder to start an agriculture business in the Kingdom, one must obtain an agriculture license in the country and this license is helpful to explore investment opportunities, and navigate the use of advanced farming technologies in Saudi Arabia. It also aligns with the Saudi Vision 2030 goals of sustainability and self-reliance. From aquaculture to organic farming, Saudi Arabia offers a range of possibilities for agricultural entrepreneurs. So ready to know more about the scope of agriculture business in the kingdom and benefits of holding an agriculture license in Saudi Arabia? Read the blog and get to know the requirements, process, and benefits of acquiring an agriculture license in the Kingdom. So let's get started! What is an Agriculture License? An agriculture license in Saudi Arabia issued by the Saudi government is an official authorization given to individuals or businesses engaged in agricultural activities in the Kingdom. The major aim of this license is to regulate and support agricultural operations in the country and ensure that the agriculture activities work in alignment with the agricultural development policies and environmental standards of the Kingdom. As it is a legal permit it helps the license holders to legally carry out activities such as farming, livestock rearing, aquaculture, and other related ventures. The Ministry of Environment, Water, and Agriculture is responsible for the overseeing of the issuance of agriculture licenses in the country and they ensure that the applicants meet specific criteria, such as the type of land used, water resource management, and the implementation of sustainable farming practices. This license also helps the license holder to get access to various government incentives, and get financial support, technical assistance, and training programs which are given with an aim to boost agricultural productivity and sustainability of the Kingdom. Benefits of Having an Agriculture License in Saudi Arabia Acquiring an agriculture license in Saudi Arabia comes with several advantages as it helps the holders to conduct agriculture business in the country by aligning with the Kingdom’s vision to build a sustainable and self-reliant agricultural sector. Explore the below points to get to know the major benefits of acquiring an agriculture license in Saudi Arabia. Access to Subsidies and IncentivesLand Allocation OpportunitiesAccessibility to the vibrant market of Saudi ArabiaTechnological Support and TrainingExport and Import PrivilegesParticipation in Development InitiativesLegal Compliance and Protection Types of Agriculture License in Saudi Arabia The Ministry of Environment, Water, and Agriculture (MEWA), regulates the agriculture sector in Saudi Arabia. The MEWA issues several licenses to conduct various agricultural activities. Understanding of different types of agricultural licenses available in the country is crucial before procuring license and starting agriculture activities in the country.... --- > In this blog, let’s dive into the importance of the Audiovisual Media License in KSA, its requirements, and steps to obtain them. - Published: 2025-01-28 - Modified: 2025-01-28 - URL: https://analytix.sa/audiovisual-media-license-in-saudi-arabia/ - Categories: Articles Planning to run a business in the broadcasting sector of Saudi Arabia? As an industry worth SAR 17. 4 billion with a market share of nearly 30% in the MENA region, choosing to run a business in the broadcasting sector of KSA would be a great idea as the sector is estimated to have a huge growth as part of the economic diversification plans under the Saudi Vision 2030. But inorder to enter the media sector of the country, foreign companies are required to work with The General Commission for Audiovisual Media (GCAM) to obtain audiovisual media license so that they can produce, distribute, and exhibit their audiovisual content in Saudi Arabia. This license regulates the working of audiovisual media in the country and ensures their compliance with Saudi regulations and helps the media entities to contribute to the developing entertainment ecosystem of the country. In this blog, let's dive into the importance of the Audiovisual Media License in KSA, its requirements, and steps to obtain them. So let's get started. What is an Audiovisual Media License? An Audiovisual Media License in Saudi Arabia, granted by the General Commission for Audiovisual Media (GCAM) is an official document that authorizes the foreign companies to engage in various audiovisual media activities within the Kingdom. The license allows the foreign companies to engage in a wide range of activities like television broadcasting, film production, digital streaming services, and other media related ventures. The main aim of this license is to ensure the compliance of the audiovisual content produced in the country with the cultural values, ethical guidelines and legal framework of the country. The license is crucial to regulate the media activities and protect intellectual property thus promoting a dynamic and responsible media sector. Benefits of Having an Audiovisual Media License in Saudi Arabia Obtaining an audiovisual media license in Saudi Arabia is beneficial as it provides several advantages to the license holder and it is helpful in establishing a strong presence in the country’s media landscape. Below are the key benefits of having a audiovisual media licence in the KSA. Access to a Thriving MarketWith an audiovisual license, businesses can legally operate in the vibrant market of KSA with its increasing demand for content across various platforms like TV, digital media, and film production. Increased Business OpportunitiesWith an audiovisual media license, businesses can explore various fields like broadcasting, film production, advertising, and other audiovisual services. Regulatory ComplianceBy operating under an official license it builds trust and credibility among the stakeholders and ensures compliance to GCAM regulations. Attractive Investment EnvironmentThe companies holding an audiovisual license can have access to tax incentives, financing options, and can get government support to encourage growth and innovation. Enhanced Credibility and VisibilityWith a GCAM approved license, the reputation of the company would be higher and thus it strengthens the market value of the company and provides it with a competitive edge in the Saudi market. Opportunities for Content LocalizationBy holding an audiovisual licence the businesses can create localized... --- > Read our blog and get a comprehensive idea regarding the requirements, process, of getting consulting license in Saudi Arabia. - Published: 2025-01-28 - Modified: 2025-01-28 - URL: https://analytix.sa/consulting-license-in-saudi-arabia/ - Categories: Articles Saudi Arabia is a treasure trove of immense opportunities. With the transformative shift happening in the business sphere of the country, the Kingdom is becoming an attractive destination for entrepreneurs and consultants. Under the Kingdom's economic diversification effort and innovation under the strategic plan of Vision 2030, the demand for consultancy services has surged across various industries. But those wishing to provide consulting services in the Kingdom must possess a consulting license in Saudi Arabia. A consulting license privileges the individuals and organizations to provide professional consulting services in various fields like management, finance, technology, etc. the license ensures the compliance of the consultant with the local regulations and benefits them to build credibility and trust within the competitive market of Saudi Arabia. Planning to enter the dynamic field of consulting services in Saudi Arabia? Then think no further, apply and grab a consulting license in Saudi Arabia. But confused about the complex process involved? Don't worry, read our blog and get a comprehensive idea regarding the requirements, process, etc. So let's dive in! What is a Consulting License? Issued by the Ministry of Investment of Saudi Arabia (MISA) and other relevant authorities in KSA, a consulting license in Saudi Arabia is a legal permit that authorises the businesses and individuals to deliver professional advisory services within the Kingdom. It is a critical requirement for consultants to operate in various consulting fields and holding a consulting license implies that the particular business or individual has met the the regulatory standards and qualifications set by the Saudi government and their consulting activities are conducted in compliance with the laws and regulation set by the Kingdom. Importance of Having a Consulting License in Saudi Arabia Holding a consulting license in Saudi Arabia is very important for professionals and businesses planning to operate in the dynamic consulting market of Saudi Arabia. As an official endorsement from the Saudi government, the consulting license helps its holders to prove the legitimacy and credibility of their consulting services. 1. Legal Compliance A consultant without a consulting license in KSA is at risk as operating without a consulting license can lead to legal penalties, fines, and even the shutdown of your business. And holding a consulting license signifies your compliance with Saudi Arabian regulations, which indeed safeguard your business operations in Saudi from legal complications. 2. Access to Opportunities Holding a consulting license can benefit its holders in many ways as they can explore the opportunities created under the Vision 2030 goals and can tap the proliferating government projects, tenders, and private sector partnerships which demand licensed consultants to be eligible for participation. 3. Facilitation of Operations Holding a consulting license eases your interactions with government authorities, banking institutions, and regulatory bodies and simplifies various processes like signing contracts, opening of corporate bank accounts, and obtaining other necessary permits. Benefits of Obtaining a Consulting License in KSA Holding a consulting license in Saudi Arabia can benefit you in several ways like the few listed below. Access to... --- > The Kingdom of Saudi Arabia is all set to host the FIFA World Cup 2034. The decision brings the world’s largest sporting event back to Gulf region. - Published: 2025-01-28 - Modified: 2025-01-28 - URL: https://analytix.sa/saudi-secures-opportunity-to-host-world-cup-2034/ - Categories: Articles The Kingdom of Saudi Arabia has secured the prestigious opportunity to host the FIFA World Cup 2034. The decision brings the world’s largest sporting event back to the Gulf region for a second time in less than ten years. And this also demonstrates Saudi Arabia’s rising global presence and influence. The Kingdom of Saudi Arabia is all set to host the FIFA World Cup 2034. The decision brings the world’s largest sporting event back to the Gulf region for a second time in less than ten years. And this also demonstrates Saudi Arabia’s rising global presence and influence. This opportunity perfectly supports Vision 2030, Saudi Arabia’s visionary plan to transform the economy beyond its dependence on oil. During the past eight years as a part of this vision, the Kingdom dedicated trillions of dollars to modernizing infrastructure, developing new industries, and welcoming international tourism. The hosting of FIFA World Cup 2034 is beyond an athletic achievement. It serves as a tactical move to promote tourism and draw international business investments along with showing the kingdom’s potential worldwide. This is the perfect time for international businesses to invest in Saudi Arabia and explore some amazing business opportunities offered by the kingdom. The upcoming FIFA World Cup 2034 is expected to motivate the young population of Saudi Arabia and further the advancement of the kingdom. The matches will take place in 15 well-built stadiums across the five major cities with Riyadh and Jeddah included. Saudi Arabia has dedicated itself to hosting this world-class event by building 11 new sporting stadiums. The current infrastructure development will contribute to the existing $1. 3 trillion capital investment which began in 2016 through major projects such as NEOM and The Line. International businesses and investors should utilize this opportunity to invest in Saudi Arabia and benefit from economic progress. Saudi Arabia aims to become the most favorable global tourism destination by 2030. The government targets to attract 150 million tourists a year out of which 70 million are from countries outside Saudi Arabia. “Winning the bid sends a clear signal: Saudi Arabia is not only ready to be on the world stage but determined to redefine the region’s tourism narrative,” said Anita Mendiratta, special adviser to the secretary general at UN Tourism. The World Cup will bring both tourism growth and will make Saudi Arabia attractive to foreign investors wishing to explore the expanding markets of the Kingdom. International companies will discover multiple business prospects to invest in Saudi Arabia and participate in the kingdom’s exciting future through the sectors of infrastructure development, hospitality, retail, and technology. Saudi Arabia has also received criticism from various groups for the bid. Many advocacy groups have voiced worries about human rights issues and the exploitation of migrant labor. The World Cup hosted by Qatar in 2022 has also suffered similar criticisms. But it proved to be wrong and Qatar effectively conducted the event successfully. Saudi leaders will analyze these past tournaments to conduct an event that combines both progress... --- > Saudi Arabia now allows foreign investment in real estate companies especially those with properties in Makkah and Madinah. - Published: 2025-01-27 - Modified: 2025-01-30 - URL: https://analytix.sa/saudi-arabia-allows-foreign-investment-in-makkah-and-madinah-real-estate/ - Categories: Daily News RIYADH: Saudi Arabia now allows foreign investment in real estate companies especially those with properties in Makkah and Madinah. The Saudi Capital Market Authority (CMA) announced this decision which aligns with Vision 2030, which aims to diversify the economy and boost foreign investment. Even though foreigners can invest in shares or convertible debt of listed companies, their total ownership will be limited to 49% of the company’s shares. Only strategic foreign investors are not allowed to acquire stakes in these companies. These initiatives are formed with an aim to boost the competitiveness of the capital market, attract foreign capital and support developmental projects in the holy cities. The changes are a part of its initiative to strengthen the real estate market and reduce dependency on oil revenue. Saudi Arabia plans to attract $ 100 billion in foreign direct investment (FDI) by 2030. The CMA has previously implemented various initiatives to make the market more attractive to foreign investors, like granting foreign investors to invest in the stock market and allowing non-Saudis access to funds in Makkah and Madinah. After the announcement, the share prices of the real estate companies increased, which are listed in the Saudi stock exchange, with companies such as Knowledge Economic City, Jabal Omar Development, and Makkah Construction experiencing significant gains. --- > Moving way ahead in the global space economy, the Kingdom of Saudi Arabia has recently launched Neo Space Group, a new initiative by Public Investment Fund (PIF). - Published: 2025-01-23 - Modified: 2025-01-30 - URL: https://analytix.sa/saudi-arabias-grand-entry-to-the-space-sector-with-neo-space-group/ - Categories: Articles Moving way ahead in the global space economy, the Kingdom of Saudi Arabia has recently launched Neo Space Group, a new initiative by Public Investment Fund (PIF). This shows that the country is keen on becoming a world power in the newly growing satellite and space industry. The Neo Space Group will act as a new frontier in the development of novelties and the diversification of the Saudi Arabian economy on the way towards Vision 2030. Neo Space Group, kingdom’s new strategic initiative Neo Space Group belongs to Saudi Arabia’s sovereign wealth fund PIF, making it one of the world’s biggest. The main aim of this newly formed entity is to market Saudi Arabia as the national and international hub in the space industry. With advanced technologies, and distinctive satellite services, Neo Space Group is well positioned to transform the Kingdom’s commercial space industry and become prominent in the global space sector. Key Objectives of Neo Space Group Promote the creation of local capacities for innovations in the sphere of space activities. Buying domestic and international assets for the successful establishment of the Kingdom in the space market domain. Offer superior satellite and space solutions to fit the requirement of as many industries as possiblePromote the positioning of strategic industries in the kingdom to create new opportunities for Saudi businesses and its people. Operational pillars of Neo Space Group Satellite Communications: The Neo Space Group intends to innovate the communications with advanced technologies in satellites. In Saudi Arabia, it will improve connectivity even in the remotest and most underserved areas, and hence fill the digital gap for economic growth. Earth Observation and Remote Sensing: Neo Space Group, with its advanced earth observation technology shall deliver important datum for environment surveillance, city mapping and efficient disaster response and management. These solutions will be crucial when solving problems at the global level with regard to sustainable development. Satellite Navigation and Internet of Things (IoT): The company will incorporate satellite navigation solutions into IoT platforms to develop intelligent solutions for agriculture, logistics, and transportation industries among others. This will help to improve efficiency and consequently promote technology development in the main production fields. Venture Capital Fund for Aerospace: Understanding the need for innovation, Neo Space Group will set up a Satellite and Space-focused Venture Capital Fund. This will help bring local and regional investments to support new startup business and develop the Kingdom’s space industry. A Milestone for PIF and Vision 2030 Neo Space Group is a testimony to the PIF's hard work on increasing the potential of high growth sectors of Saudi Arabia. By pouring investment into the space industry, PIF is diversifying the Kingdom's economy and contributing to the growth of its non-oil revenues. And this isn't all, it’s more of a contribution toward the grander objectives of Vision 2030, aiming to change the very face of Saudi Arabia in the longer run-to be a much more globalized place in terms of innovation and technology. Opening doors for Businesses The growing... --- > Struggling to start an event management business in Saudi Arabia? Read the blog to get a comprehensive idea regarding the same. - Published: 2024-12-31 - Modified: 2025-01-06 - URL: https://analytix.sa/start-an-event-management-business-in-saudi-arabia/ - Categories: Articles With the rapid growth of the events industry in the Kingdom of Saudi Arabia, starting an event management business offers exciting opportunities for both foreign and domestic investors. In alignment with the Vision 2030, the Saudi government has placed a strong focus on the promotion of tourism, large scale events, cultural activities, etc which in turn increases the demand for professional event management services in the country. As a hub of hosting conferences, exhibitions, festivals, corporate events, and even extravagant weddings, major cities like Riyadh, Jeddah, and Dammam can be considered the best destination for event management business setup. This booming industry of Saudi Arabia offers immense potential for entrepreneurs looking to enter into the dynamic market of the Kingdom. But while establishing an event management business in Saudi Arabia the entrepreneurs must navigate through the complex legal processes like securing necessary licenses, obeying local regulations, meeting specific business requirements of the country, etc. Struggling to start an event management business in Saudi Arabia? Read the blog to get a comprehensive idea regarding the same. So let's get started! Event Management Market in KSA - An Overview The event management market in Saudi Arabia has grown exponentially in recent years, due to economic diversification efforts undertaken by the country under the strategic plan of Vision 2030. With a shift towards promoting tourism, culture, and entertainment, the Kingdom has hosted world class events, including concerts, sports tournaments, exhibitions, and cultural festivals. This has created a huge demand and opportunities for event management services and the market continues to grow rapidly expecting an upward trajectory. Popular events like Riyadh Season and Jeddah Season attract millions of visitors annually, boosting the need for skilled event organizers in the country. The government, through the General Entertainment Authority (GEA) and other organizations, is providing immense support to the local and international companies to set up their event businesses. With a young, tech friendly population and increasing spending power, there is a growing demand for exciting and creative events. This makes Saudi Arabia a great place to start and grow an event management business. Key Considerations Before Applying an Event Management Business License In Saudi Arabia Starting an event management business in Saudi Arabia would be a great option for investors, especially with the country's increasing focus on entertainment, tourism, and large scale events. But before applying for a business license, it’s very important to understand certain factors to ensure a smooth business setup process. Here are the key considerations:Understand Licensing RequirementsSaudi Arabia requires certain licenses to operate an event management business in the country. So you need to identify what type of license you require and align with your services like whether it’s organizing conferences, exhibitions, or cultural events etc. So make sure your business comply with all regulations which are set by the Saudi Ministry of Investment (MISA) and other authorities. Meet Eligibility CriteriaThe businesses must ensure that they meet specific eligibility criteria, such as having a valid investor visa or Saudi residency (Iqama).... --- > Are you a UAE national planning to enter the vibrant market of Saudi Arabia, as part of your business expansion processes beyond borders? - Published: 2024-12-31 - Modified: 2025-01-06 - URL: https://analytix.sa/requirements-for-uae-companies-planning-to-enter-saudi/ - Categories: Articles Due to the rapid changes brought by the revolutionary Vision 2030, Saudi Arabia has grown as a key destination for global businesses around the world. The economic and legal reforms implemented in the country have made significant changes to the business sphere of the country and have attracted foreign investors even from the United Arab Emirates. Expanding business to Saudi Arabia for an UAE national is very beneficial due to their close proximity and cultural similarities, and this provides UAE businesses a natural advantage in entering the Saudi market. However, business expansion to a new country has its own challenges and as an investor it is essential to clearly understand the legal requirements and processes involved to set up a business in Saudi Arabia from the UAE. Any significant errors or missing any key steps could often lead to delays, complications, or even failure in registering the business and can shatter your dream to start a company in Saudi Arabia from UAE. Are you a UAE national planning to enter the vibrant market of Saudi Arabia, as part of your business expansion processes beyond borders? If so, we have got all your worries regarding the processes involved with the business setup in Saudi Arabia. Read our latest blog on the legal requirements for UAE companies to enter the Saudi market and explore the legal essentials needed to successfully establish yourselves in the vibrant market of Saudi Arabia. So let's get started! What Are the Legal Requirements to Setup Business in Saudi Arabia Business expansion to Saudi Arabia offers lucrative opportunities, but efficient exploration of legal procedures are essential to ensure a smooth business setup. Compliance with the legal requirements in Saudi Arabia is a crucial step, and care must be taken during entity selection, documentation, and investment commitments. As a UAE business planning to establish a presence in Saudi Arabia you must set up a branch, representative office, or subsidiary in the country. This can be done with full ownership or in partnership with a Saudi national. Additionally, this UAE company should have been functional for at least one year and must submit an audited financial statement for the previous fiscal year. There is a lot of documentation process involved for a UAE company fuir business set up in Saudi Arabia and have to prepare several key documents to establish a branch or subsidiary in Saudi Arabia, including:Company Incorporation Documents (e. g. , Trade License, Commercial Registry)Memorandum of AssociationFinancial audit report for the previous fiscal yearPower of AttorneyThe documents to be submitted vary depending upon whether the company is registered in the mainland or free zone. The companies operating in the free zones might submit a Certificate of Incorporation, Share Certificate, Certificate of Incumbency, or a Good Standing Certificate. And all these documents should be certified by the issuing authority (unless electronically issued) and attested by the UAE Ministry of Foreign Affairs (MOFA) and the Saudi Embassy in the UAE before being sent to Saudi Arabia for further processing. In... --- > The guide particularly focuses on prime factors, the size and growth potential of markets, taxation, ease in setting up business in saudi arabia and uae - Published: 2024-12-31 - Modified: 2025-01-06 - URL: https://analytix.sa/opportunities-in-uae-v-s-saudi-arabia/ - Categories: Articles The Middle East presents great potential and abundant opportunities for business from every corner of the globe. Among the regions in this highly developed region, the UAE and Saudi Arabia turn out to be two of the most favored destinations for entrepreneurs and multinational companiesBoth countries have indeed invested so much in ensuring business-friendly environments and economic diversification, making these some of the most coveted destinations for setting up any business. With over ten years of experience as the leading business consultancy in the Middle East, Analytix has seen the gradual development of both markets to become global business hubs. Whether you are thinking of forming a startup or expanding a well-established company, this is important to understand the special advantages of the UAE and Saudi Arabia. The guide particularly focuses on prime factors, the size and growth potential of markets, taxation, ease in setting up and running businesses, and cultural matters relating to it to help pinpoint the most eligible destination for your dream business. Market Growth and Opportunities in Saudi Arabia v/s UAE On distinct but equally tempting grounds, Saudi Arabia and the UAE have not failed to amaze their audience where market size and growth potential are concerned. Each country has made a new place for itself in the Middle East in terms of transformational growth and dynamic economic landscapes. Saudi Arabia, being the biggest economy in the Middle East, houses over 35 million people, providing a potential market for several businesses targeting mass-market sectors like retail, e-commerce, food, hospitality, and telecom. Vision 2030 is the reform plan of the Kingdom which sets the groundwork for the diversification of the economy toward women empowerment, innovation, and creating space for foreign investment. Saudi Arabia, the biggest economy in the Middle East, concentrates on over 35 million population, which poses a large demand for several companies aiming to enter the mass consumption segments such as retail, e-commerce, food, hotels, and telecommunications. Vision 2030 is the reform plan of the Kingdom, through which the preparation for the transition of the Kingdom’s economy is made gradually towards diversification, women empowerment, technological advancement, and building spaces for foreign investment. One of the great results of these reforms is the number of women-owned business enterprises that are growing in the tech, retail, and service sectors. More woman are entering into the workforce and the entrepreneurial environment thus creating new needs in the marketplace that are likely to fuel their ever-expanding financial liberation. The younger and family-oriented population of Saudi Arabia has a huge demand for educational requirements, as well as leisure and entertainment, and healthcare needs. Besides mega-events such as Expo 2030, FIFA World Cup 2034 will also fuel strong growth in the sectors of construction, technology, and entertainment, in turn backed by radical transformative infrastructural projects. While smaller in numbers, the UAE is a haven for billionaires and foreign investors and stands out with respect to high GDP per capita. Here, the country has developed very strong premium historic customer bases, potentially... --- > In this blog, we will discuss a detailed breakdown of the process of getting entertainment license in saudi arabia - Published: 2024-12-23 - Modified: 2024-12-23 - URL: https://analytix.sa/how-to-get-an-entertainment-license-in-saudi-arabia/ - Categories: Articles In its pursuit of the target of becoming a vibrant international entertainment hub, Saudi Arabia is slowly changing its entertainment sector according to Vision 2030. Vision 2030 makes the country one of the magnets for global businesses, fostering innovation, and enhancing the growth of its economy. Leading this change is the General Entertainment Authority (GEA), which will play an important role in the regulation and support of entertainment activities taking place within the Kingdom. GEA has established comprehensive rules governing the entire process of obtaining entertainment licenses in the kingdom. These regulations specify the type of licenses required, the requirements of documentation, and the obligations of the license holder. Thus, fulfilling all these regulations creates a structured approach to the activities of both local and foreign businesses while creating sustainable growth within the entertainment sector. Whoever enters into the premises of local entrepreneurship or international investment, an entertainment license in Saudi Arabia shall open its doors wide to eventually secure it for opportunities in a very busy and fast-evolving marketplace. In addition to governmental backing and clear pathways for regulation, the Kingdom provides room for innovation, cultural exchange, and economic wealth in the entertainment industry. Interesting insights into the entertainment sector of Saudi Arabia The entertainment industry in Saudi Arabia has entered a new track, and that itself speaks of a global vision of the kingdom's emergence as a hub of culture and recreation. Here are a few interesting facts that speak to its fast pace and importance:More than 12,600 Entertainment Licenses Granted: The General Entertainment Authority (GEA) issued a large number of licenses, which reflects the increasing demands for entertainment activities and services in the Kingdom. This kingdom hosted a total of 120 million event attendees since 2019: Be it through concerts or festivals, the kingdom found millions of attendees from across the world and made clear that this would be its defining beauty as a superbly attractive destination for world-class entertainment. Tourism Revenue of $9. 8 Billion (Q1 2023): The industry's leap from $3 billion over the last year has proven to be critical to national economic growth. Contribution of $23 billion by 2030: The entertainment sector will account for 3% of Saudi GDP by 2030, thus serving as a pillar of the Vision 2030 economic diversification agenda. The contribution of the entertainment sector by 2030 is expected to rise to $23 billion. Such milestones speak to the great progress that the Kingdom has made and also present huge opportunities for businesses and investors in the entertainment industry. Saudi Arabia’s Entertainment Industry: A Powerhouse on the Rise The Entertainment market of Saudi Arabia is rapidly evolving at a pace that has been unseen by any other country, confirming the nation’s status as a global leader in entertainment. The kingdom forecast its worth to be $2. 31 billion by 2023 and the industry is still growing due to the increased youthful population and investment by the Kingdom along with their Vision 2030 of making the economy more diverse. The... --- > This blog explores the key trends that are revolutionizing the KSA healthcare market. - Published: 2024-12-23 - Modified: 2024-12-23 - URL: https://analytix.sa/trends-in-ksa-healthcare/ - Categories: Articles Driven by Saudi Arabia’s Vision 2030 initiatives, the healthcare sector in KSA is undergoing a remarkable transformation. The Kingdom is setting new benchmarks to provide quality healthcare to all its citizens by enhancing healthcare infrastructure, adopting cutting edge technologies, and encouraging private sector involvement. The rising demand for specialized medical services, preventive care and digital health solutions, is also shaping the industry and demanding high level investment and development in the healthcare sector of the country. Trends such as telemedicine, artificial intelligence in diagnostics, and the expansion of public private partnerships are also playing a crucial role in shaping KSA healthcare. Moreover, Saudi Arabia’s effort to increase local pharmaceutical production and boost medical research has opened up vast opportunities for investors and healthcare providers alike. This blog explores the key trends that are revolutionizing the KSA healthcare market, shedding light on how these developments are creating a modern, patient centric healthcare system that aligns with global standards. So let's dive in to discover the future of healthcare in Saudi Arabia. KSA’s Vision 2030 Goals for Healthcare Sector- An Overview Under the Vision 2030 healthcare Saudi Arabia, the country plans to upgrade its healthcare sector into one of the best in the world. The main agenda is to prevent the disease, rather than treating them, and this includes promotion of healthy lifestyles to reduce the lifestyle diseases like heart diseases, diabetes, etc. Another major focus is to enhance the role of the private sector in the healthcare in Saudi Arabia, through the privatization of government healthcare services and boost the public private partnership (PPP) models for healthcare delivery. Recently The Ministry of Health (MOH) granted Altakassusi Alliance Medical a PPP to enhance radiology services at seven hospitals in the kingdom thus boosting the privatization efforts by providing 290 hospitals and 2,300 health institutions. With the key initiatives like universal health coverage (UHC), healthcare technology adoption, and accreditation programs, Saudi is working hard to transform its healthcare system to match the global standards and drive better patient outcomes. The major focus of the Healthcare Sector Transformation Program is on privatization, the development of health clusters, and e-health innovations and with the initiatives like Vision 2030 the government is working relentlessly to polish the healthcare sector of the country by adding 26,000 to 43,000 hospital beds to support the population growth which is expected to reach 45 million by 2030. The Kingdom also plans to increase the share of spending in the private sector from 25% to 35% and health insurance has been made mandatory for all Saudi and non Saudi employees and their families working in the private sector. The other main step taken in association with Vision 2030 is the training of local healthcare professionals and increasing their participation in the healthcare sector. Use of digital technology is also another major step taken to improve health services in the Kingdom. Projects like hiking the percentage of patients with digital health records from 0% to 70% and allocating $1. 5 billion for... --- > Saudi Arabia’s hosting of the FIFA World Cup 2034 will have a positive effect on the economy and stock market, according to a report by SNB Capital. - Published: 2024-12-20 - Modified: 2025-01-30 - URL: https://analytix.sa/fifa-world-cup-2034-to-boost-saudi-arabias-stock-market/ - Categories: Daily News RIYADH: Saudi Arabia’s hosting of the FIFA World Cup 2034 will have a positive effect on the economy and stock market, according to a report by SNB Capital. The event is expected to raise the nation’s non-oil GDP by 4-5% in the medium term, supporting Vision 2030’s goals of diversifying the economy by reducing dependency on the oil sector. The SNB Capital forecasts Saudi Arabia’s stock market will outshine the other emerging markets after careful considerations to South Africa, Russia and Qatar’s hosting of the event in past years. Better market reforms, valuation growth and resilience against global economic challenges will possibly be the positive outcome of hosting the World Cup 2034. In the short term (1-4 years), construction related sectors such as steel, cables and cement will benefit from heavy infrastructure investments in stadiums, transportation and urban development. Medium term gains (4-8 years) would be a result of project completion, whereas long-term benefits will be based on tourism, hospitality and retail industries. The World Cup will create significant opportunities such as a GDP boost of $ 9-14 billion, 1. 5 million new jobs, and 230,000 hostel rooms in around five cities. The approximate cost for hosting will be $ 26 billion, which is comparatively low, as most of the infrastructure has already been planned under Vision 2030. FIFA’s assessment predicts revenues more than expected through ticket sales, hospitality and licensing, increasing baseline projections by 32%. The event will also boost broadcasting and event management industries, further enhancing economic growth. Overall, hosting the World Cup will give Saudi Arabia a high-class infrastructure, promoting long-term growth in tourism and other sectors while lessening unemployment and boosting disposable growth. The event will set Saudi Arabia as a key player on a global stage. --- > Saudi Arabia has launched a new service ‘Exemption for Export,’ to boost its industrial sector’s global competitiveness. - Published: 2024-12-18 - Modified: 2025-01-30 - URL: https://analytix.sa/saudi-arabia-launches-duty-exemptions-on-industrial-inputs-to-boost-exports/ - Categories: Daily News RIYADH: Saudi Arabia has launched a new service ‘Exemption for Export,’ to boost its industrial sector’s global competitiveness. This initiative was launched by the Saudi Export Development Authority in collaboration with the Ministry of Industry and Mineral Resources to provide customs duty exemptions for industrial inputs used to make exports goods. The initiative will support Vision 2030’s objective of diversifying the economy and boosting the non-oil exports. The idea is to reduce export-related costs for manufacturers by applying exemptions on inputs such as labour, raw materials, fuel, equipment and buildings. For companies to qualify for this exemption, a valid industrial license and demonstrate compliance with approved industrial capacities is a must. The materials must be in compliance with the materials and eligibility is also dependent on the export performance over the last year. When approved, the requests will be processed through the “Sina’ai” platform within five business days. The initiative aims to deal with the challenges that Saudi exporters have to go through, simplify processes and further encourage expansion into international markets. It boosts Vision 2030’s goals to boost non-oil exports and support sustainable growth through innovative solutions made to meet exporters’ needs. To diversify the economy’s dependency on oil, Saudi Arabia has been heavily investing in its industrial sector. Initiatives such as the National Industrial Development and Logistics Program focus on improving infrastructure, simplifying customs and providing incentives for export. These efforts have contributed to the growth of non-oil exports and strengthened sectors like manufacturing, petrochemicals and construction materials. Saudi Arabia is positioning itself as a global trade hub by eliminating financial and logistical challenges to boost sustainable development and promote the kingdom’s broader economic diversification efforts. --- > Saudi Arabia is celebrating its win as the FIFA World Cup 2034 host by conducting events and festivities nationwide. - Published: 2024-12-17 - Modified: 2025-01-30 - URL: https://analytix.sa/saudi-insights-saudi-arabia-celebrates-after-being-named-as-host-for-fifa-world-cup-2034/ - Categories: Daily News Saudi Arabia celebrates after being named as host for FIFA World Cup 2034 RIYADH: Saudi Arabia is celebrating its win as the FIFA World Cup 2034 host by conducting events and festivities nationwide. Citizens and residents are encouraged to show their pride and excitement by wearing football jerseys and sharing picture perfect moments online by using the hashtag #Saudi2034. The announcement was celebrated by firework displays across various locations like Riyadh, Jeddah, Alkhobar, NEOM, Abha, Al-Qassim and Jubail. These spectacular shows marked the unity and excitement of achieving this milestone. Special drone displays and an air show are scheduled on December 12 to further fascinate audiences. Riyadh’s municipality distributed scarves to fans and organized traditional dances in urban parks. Green lights were illuminated across the buildings and public spaces throughout the nation and decorated with Saudi flags. The announcement ceremony was broadcasted by several Institutions such as King Abdullah University of Science and Technology. Events are scheduled to take place till December 14 at different locations like Boulevard City, Laysen Valley, and Roshn Front in Riyadh, and the Corniche Circuit, Roshn Waterfront, and King Abdulaziz Cultural Center in Jeddah. Other cities such as Alkhobar, Al-Baha, Buraydah, Abha, and Hail will also conduct celebratory events. Some of the events will be held at Half Moon Beach, Al-Bahar Square, Art Street, and more. These events will provide football fans with the opportunity to come together to show their pride and excitement for hosting the World Cup. UK-Saudi ties to deepen, with Trade Exchange reaching $ 37. 5 bn by 2030 RIYADH: Saudi Arabia and UK have reaffirmed their commitment to improve the economic and strategic ties, with a goal of boosting bilateral trade to $ 37. 5 billion by 2030. The announcement came after the visit of UK Prime Minister Keir Starmer to Saudi Arabia, where both the nations emphasized the Saudi-UK Partnership Council’s role in improving cooperation. Both nations analyzed the progress in diversifying their relationship and aligning priorities through Saudi Arabia's Vision 2030 and the UK’s Industrial Strategy. Clean technology, energy innovation, sustainability, and financial services such as green finance, fintech, and asset management were some of the key areas of collaboration between the two nations. The nations also committed to setting up a Clean Hydrogen consortium between the UK and Saudi universities and agree on the GCC-UK Free Trade Agreement. The nations agreed on strengthening their defense and security by deepening cooperation to fight terrorism, strengthen cybersecurity and build a futuristic defense partnership. They emphasized the significance of maintaining regional stability, adherence to international norms and solving conflicts such as the situation in Gaza, Syria, and Yemen. Both the nations support humanitarian aid efforts, Two-State Solution for Israel-Palestine and a political resolution in Lebanon. Saudi initiatives such as the Saudi Green Initiative and Circular Carbon Economy approach were welcomed by the UK, highlighting environmental sustainability and climate leadership. Global challenges like desertification, sustainable growth, and energy transition are pivotal for the nations. Overall, both the nations are looking forward... --- > FIFA has officially announced that Saudi Arabia will host 2034 World Cup, bringing excitement throughout the kingdom. - Published: 2024-12-13 - Modified: 2025-01-30 - URL: https://analytix.sa/saudi-arabia-announced-as-host-for-2034-fifa-world-cup/ - Categories: Daily News RIYADH: FIFA has officially announced that Saudi Arabia will host 2034 World Cup, bringing excitement throughout the kingdom. The announcement was made at the FIFA meeting, which was chaired by President Gianni Infantino, backed by the support of more than 200 FIFA member federations. Crown Prince Mohammed bin Salman shared his excitement addressing the kingdom’s commitment in offering an exceptional tournament for football fans globally. FIFA presented the hosting certificate to Sports Minister Prince Abdulaziz bin Turki Al-Faisal and Saudi Arabian Football Federation (SAFF) President Yasser Al-Misehal. Prince Abdulaziz highlighted how Saudi Arabia has ambitiously targeted to host the Best World Cup in history. FIFA also announced that 2030 World Cup will be co-hosted by pain, Portugal, and Morocco with single matches in Argentina, Paraguay, and Uruguay. The announcement was met with celebrations nationwide. Fireworks festivities to take place in major cities like Riyadh, Jeddah, NEOM, and Jubail, a dynamic drone displays and an air show in Riyadh on Dec 12. Public spaces across the country are lit up in green and Saudi flags will hang from parks and buildings. Celebrations will continue to take place in locations like Boulevard City and Roshn Front in Riyadh, Corniche Circuit in Jeddah, and public spots across cities like Alkhobar, Abha, and Hail until December 14. To mark this achievement, traditional dances, watch parties, and community events are being held to bring fans together, reflecting the nation’s unity and excitement. The 2034 FIFA World Cup is a significant milestone for Saudi Arabia, reflecting the nation’s influence in international sports and its ability to organize and host events. --- > Saudi Arabia has grown itself to be the land of opportunity for entrepreneurs to invest where the expansion of the industrial and mining sectors is set to revolutionize the economy. - Published: 2024-12-02 - Modified: 2024-12-02 - URL: https://analytix.sa/saudi-mining-and-industrial-sectors-open-opportunities/ - Categories: Articles Saudi Arabia has grown itself to be the land of opportunity for entrepreneurs to invest where the expansion of the industrial and mining sectors is set to revolutionize the economy. Speaking at Misk Global Forum 2024, Riyadh, Bandar bin Ibrahim Alkhorayef, Minister of Industry and Mineral Resources said that these sectors have untapped potential in innovation, youth empowerment, and entrepreneurship. During the past years, the Saudi government started many programs with a view to stimulating entrepreneurial activities, particularly in the industrial and mining sectors. Such programs are for those innovators who have ideas on how to increase the performance, and the quality of production in production facilities, which stimulate energy conservation and usage in industrial facilities. Programs such as 1K Miles as well as breakthrough platforms, like Industrial Hackathons, can turn the dreams of young people into real business opportunities. The process for obtaining a mining license in Saudi Arabia has been established to attract investors and inventors to use and discover the vast mineral resources found in Saudi Arabia. Just like getting an industrial license in Saudi Arabia is now as easy as ever, especially with the government promoting manufacturing through incentives to increase competitiveness on the global scene. Saudi Arabia is showing great success in all these efforts. The Kingdom ranked third in the 2023-2024 Global Entrepreneurship Monitor report, which analyses entrepreneurial ecosystems around the globe. Its National Entrepreneurship Context Index score increased remarkably from a 5 in 2019 to 6. 3 in recent years, highlighting the success of initiatives aimed at economic diversification and the development of a strong business environment. Female entrepreneurship is picking up, with eight women starting a business for every 10 men in 2023. This trend underlines the inclusiveness of the entrepreneurial landscape. The commitment to equal opportunities for all has placed the Kingdom at the forefront as the global hub for innovation and business development. Saudi Arabia is utilizing its natural resources and innovative technology to enhance its industrial base making it a strategic production hub in the international supply chains. This strategic development is in line with Vision 2030, the ambitious initiative of the kingdom to diversify and transform its economy. In areas like renewable energy, advanced manufacturing, and mining, the Kingdom’s investment enables entrepreneurs to access new opportunities that can raise Saudi Arabia’s place in the global competitiveness scale. The government’s emphasis on resource utilization and as well as the promotion of innovation are positioning the industrial sector for expansion into higher-value industries. Speaking at the forum as the co-chair of the Bill and Melinda Gates Foundation, Bill Gates praised Saudi Arabia for its leadership and work with young people to foster their innovations. He pointed out that education, technology, and international cooperation are critical in addressing development concerns. Activities like the newly introduced "Misk Grand Challenges," launched during the forum encourage youth to bring in ideas to solve various global issues, helping to develop creative spirit and teamwork. Such is the call of Gates towards strengthening international cooperation, echoing... --- > Are you a women entrepreneur planning to start a business in Saudi Arabia? Then this blog is for you. - Published: 2024-11-30 - Modified: 2024-11-30 - URL: https://analytix.sa/women-entrepreneurs-reshaping-saudi-business-landscape/ - Categories: Articles Amazed by the news that women entrepreneurs in Saudi Arabia are breaking barriers and entering into the business landscape of the country as never before? Yes , you heard it right! Women have become key players in reshaping the Saudi business landscape and are emerging as prominent contributors to the economic and social transformation of the country. With initiatives like Vision 2030 the participation of the women workforce is increasing and has soared from a modest 17% in 2016 to an impressive 37% by 2023. These figures are not only a statistical achievement but a reflection of the changing atmosphere for women in Saudi Arabia in businesses and society. Women have made their presence in various industries like education, technology, fashion, and finance, etc. and these women led enterprises are obviously contributing to the growth of the economy, reshaping Saudi markets, thus paving way for innovation, and creating job opportunities. Women’s participation in businesses are not only bringing economic diversification but also challenging deeply rooted cultural norms, and proving that inclusivity and economic progress can go hand in hand. Are you a women entrepreneur planning to start a business in Saudi Arabia? Then this blog is for you. Come, join us as we unravel the status of women entrepreneurs in Saudi Arabia and discuss what all opportunities are available for women entrepreneurs in the country. So are you ready to dive in to the topic? Let's get started! The Rise of Womenpreneurs in Saudi Arabia The remarkable transformation in the business landscape of Saudi Arabia due to the active participation of women entrepreneurs is a tremendous change in the long history of the country. The major driving force behind this transformation is the government initiative - Vision 2030, which is aimed to empower women and increase their participation in the workforce. Through many initiatives like targeted policies, access to funding, and dedicated training programs, Vision 2030 has provided a platform for the Saudi women to dive into world of entrepreneurship and establish successful businesses in the countryThe impact of such reformative change is visible across various sectors, with a tremendous increase in women owned businesses in technology, retail, and services. With the efficient use of technology, the women entrepreneurs are also in the forefront in creating innovative startups, and offer solutions to address local and global challenges. The traditional male dominated industries like the retail and service industries are also experiencing a paradigm shift due to the fresh perspectives and creative approaches of the women towards the market. This rise is not only just reshaping the economy of the country but also redefining the age old societal norms, proving that women can also bring progress to the country and can actively participate in the economic growth of the society. By breaking barriers and contributing to the economic diversification, Saudi women entrepreneurs are becoming an integral part of the Kingdom’s future, embodying the transformative vision set forth by the government. Being in a society where cultural norms influence business preferences, many... --- > In 2023, Saudi Arabia rose its research and development (R&D) spending to SR 22.61 billion ($ 6.02 billion), an increase of 17.4% from the last year. - Published: 2024-11-30 - Modified: 2025-01-30 - URL: https://analytix.sa/saudi-arabia-raises-rd-spending-to-6-billion-in-2023-to-push-vision-2030/ - Categories: Daily News RIYADH: In 2023, Saudi Arabia rose its research and development (R&D) spending to SR 22. 61 billion ($ 6. 02 billion), an increase of 17. 4% from the last year. This movie is in support of Vision 2030 initiative to lessen dependency on oil sectors and strengthen sectors such as energy, technology and sustainability. The Kingdom’s R&D workforce rose to 49,337 personnel by 12. 2% in 2023. Of these personnel, 36,832 are researchers, reflecting 22. 1% growth annually. Most of the R&D employees, 76. 1% worked in high education, 17. 9% worked in the private sector and 6. 1% in government roles. The government sector was the main the source of funding which totalled to SR12. 12 billion (53. 6%). The private sector contributed SR 9. 31 billion, while higher educated got SR 1. 17 billion. Private sector expenditure accounted for SR 8. 7 billion on R&D, while the government spent SR 8. 66 billion and higher education at SR 5. 24 billion. Saudi Aramco’s $100 million investment in King Abdullah University of Science and Technology was the key initiative in 2023. Over the next decade, the partnership will strive to drive innovation in energy, transition, sustainability, materials science, upstream technologies and digital solutions. This strategic boost in R&D reflects Saudi Arabia’s commitment in driving innovation, diversifying the economy and supporting global sustainability objectives. --- > This blog helps you to know about the important government policies and initiatives issued to boost the education sector in KSA - Published: 2024-11-29 - Modified: 2024-11-30 - URL: https://analytix.sa/education-sector-in-saudi-arabia/ - Categories: Articles Wondering what makes the education sector in Saudi Arabia so popular and a hub of growth and transformation? Are you curious to know what is making this industry a vital element of the growth in Saudi Arabia? Don’t worry you are in the right place. In this blog, we’ll discuss the Saudi education sector and will explore how its goals align with the objectives of ambitious Vision 2030. So read the blog to know about the important government policies and initiatives issued to boost the education business in KSA and how it is reshaping the educational sector of the country. So let's get started! Educational Authorities in Saudi Arabia The Saudi Commission for Health Specialties (SCFHS), the Technical and Vocational Training Corporation (TVTC), and the Ministry of Education (MOE) are the three primary educational authorities in Saudi Arabia. Of these, the Ministry of Education (MOE) is the regulatory body in charge of overseeing and regulating the Saudi Arabian educational system. It is also in charge of establishing curricular standards, educational regulations, and resource distribution to schools across the country. Whereas healthcare related education is regulated by the Saudi Commission for Health Specialties (SCFHS), and vocational education is overseen by the Technical and Vocational Training Corporation (TVTC). How to Start a Education Business In Saudi Arabia The education sector in Saudi Arabia offers numerous opportunities. Initiatives like Vision 2030 are boosting the development of the education system in the country by promoting the involvement of the private sector in the Saudi education landscape. 1. Understand the Market LandscapeSaudi Arabia’s education sector consists of public and private institutions across primary, secondary, and higher education levels, and has vocational training centers as well. Also the growing demand for specialized services like e-learning platforms, training institutes, and international schools provides greater opportunities for investors planning to start education business in Saudi Arabia. So research the market thoroughly before starting an education business in the country and identify gaps and select a category that aligns with your business goals. 2. Comply with Legal RequirementsInorder to start an education business in Saudi Arabia, you'll need to obtain many permits and approvals. First you have to get a commercial license from the Ministry of Commerce and obtain approvals from the Ministry of Education for conducting your educational activities in the Kingdom. If you are a foreign investor, then you have to obtain a license from the Saudi Investment Ministry (MISA) to operate within the education sector. 3. Choose a Business ModelMake sure your business model aligns with your target audience and market needs. So decide what type of education you intend to provide. You can either set up an international school offering a globally recognized curriculum, or a training or skills development center providing job oriented training, or a tech-driven e-learning platform or EdTech solution provider. 4. Select a Strategic LocationSaudi Arabia offers numerous opportunities in its major cities. While the capital city Riyadh is a hub for international schools and higher education institutions, Jeddah is popular... --- > Riyadh Metro Phase 1 opens on Nov 27, 2024, with 176 km of driverless lines, boosting sustainability and urban growth for Vision 2030. - Published: 2024-11-27 - Modified: 2024-11-27 - URL: https://analytix.sa/riyadh-metros-first-phase-of-operations-to-begin-on-november-27/ - Categories: Daily News RIYADH: Riyadh Metro, a major milestone for Saudi Arabia, will open its first phase on November 27, 2024. The world’s largest, $22. 5 billion driverless metro system, is geared to modernise transportation in Riyadh, supporting the nation’s Vision 2030 objectives to lessen traffic, encourage sustainability and support urban growth. The metro network will cover 176 kilometers with six colour coded lines and 84 stations and is expected to serve more than 1. 2 million passengers every day in the phase 1 and double the capacity once it’s fully functional. The first phase will include three routes: Line 1 – Blue Line – Covering 38 km along Al-Olaya, Al-Batha, and Al-Hayer roads. Line 4 – Yellow Line – Covering 29. 6 km along King Khalid International Airport Road. Line 6 – Violet Line – Covering over 30 km connecting Abdulrahman Bin Awf Road and Sheikh Hassan Bin Hussain Bin Ali Road. Three more lines will start functioning by Mid-December, spanning along King Abdullah Road, Al-Madina Road, and King Abdulaziz Road. King Abdullah Financial District (KAFD) Metro Station, Qasr Al-Hukm District Station, STC Station, and Western Metro Station will be the main hubs. To ensure a comfortable commute, the hubs will present modern designs, underground parking, retail outlets and cafes. The architecture of KAFD station, designed by Zaha Hadid has drawn attention for its iconic design. The project is built in a way that promotes sustainability. For key systems, Solar panels are used, generating 20% of the energy required for the operations along with regenerative braking technology to lessen energy consumption. The whole network will eventually completely operate on renewable energy, further boosting Riyadh’s environmental goals. Although the project was approved in 2012, there were delays caused due to logistical challenges and the COVID-19 pandemic. The launch shows a major step towards Saudi Arabia’s urban infrastructure development. The ticket prices and discount packages will be announced by the authorities soon, with a focus on making the metro accessible and affordable for all commuters. --- > Learn about Saudi Arabia's strides in energy, construction, and commerce, driving Vision 2030 goals with record-breaking developments. - Published: 2024-11-26 - Modified: 2024-11-26 - URL: https://analytix.sa/saudi-insights-saudi-arabias-rapid-growth-in-energy-construction-business-and-real-estate-booming/ - Categories: Daily News Saudi refined crude exports reach 23-month peak at 1. 54 million bpd RIYADH: In September 2024, Saudi Arabia’s refined crude exports increased significantly, accounting for 1. 54 million barrels per day (bpd), making it the highest in two years and 23% higher than the previous month. Strong demand for diesel, motor gasoline, aviation gasoline and fuel oil have contributed to this growth, highlighting the key role the country plays in the global oil market. Exports were dominated by Diesel covering 47% of the shipments, with a monthly rise of 35% at 727,000 bpd. Motor and aviation gasoline made up for 23% while fuel oil contributed 7%. Diesel remained at the top at 44%, followed by motor and aviation gasoline at 25% and fuel oil at 17% while Refinery maintained a steady output at 2. 76 million bpd. Exports of crude oil rose slightly to 5. 75 million bpd while its production reduced marginally to 8. 97 million bpd. Domestic petroleum demand fell from 267,000 bpd to 2. 62 million bpd, probably due to seasonal changes and boosted efficiency. In September, Saudi Arabia’s direct crude oil burn fell to the lowest in five months by 36. 4% to 518,000 bpd. The decline is a result of cooler weather leading to less electricity demand for air conditioning along with the efforts to reduce energy consumption and broaden power sources. The kingdom is growing its natural gas networks and renewable gas projects to reduce dependency on crude oil for power generation, which is in line with the Vision 2030 strategy. Saudi Arabia and other OPEC+ nations are extending voluntary production cuts of 2. 2 million bpd until December 2024. These cuts focus on stabilizing the oil market, with an aim to balance overproduction by September 2025. Saudi Arabia’s commitment for sustainable growth and stabilize the energy market is shown in its efforts. Saudi construction Sector in H1 2024 sees a 47% rise, hits $ 49. 3 bn RIYADH: The Construction sector in Saudi Arabia is growing rapidly with contracts awards accounting for $ 49. 3 billion in H1 of 2024, indicating a 47% increase annually. Led by the strong collaboration between the government and private sector to meet Vision 2030 goals, the second quarter generated $ 17. 6 billion. A 33% yearly increase in the commercial index displays sustained momentum. Oil and gas, real estate and water infrastructure are the key sectors contributing to this growth. In the total contract awards, oil and gas contributed 41% to it, marking a remarkable 505% growth in Q2 as a result of Saudi Aramco’s projects. Real estate contracts increased by 8%, with a focus on residential developments to meet the 2030 goal of 70% homeownership. Regionally, the Eastern Province, driven by oil and gas projects, led with 59% of the contracts, while Riyadh continued to focus on real estate and infrastructure developments like King Salman University and Diriyah Gate. The development of new economic cities like NEOM and Red Sea region, aided by advanced infrastructure such... --- - Published: 2024-11-22 - Modified: 2024-11-23 - URL: https://analytix.sa/saudi-arabia-targets-450000-new-jobs-in-entertainment-sector-by-2030/ - Categories: Daily News RIYADH: Saudi Arabia’s Entertainment sector is set to generate 450,000 jobs and contribute 4. 2% to the country’s GDP by 2030 as stated by the Ministry of Investment. This growth is in line with Vision 2030’s objective of diversifying the economy by reducing dependency on oil revenue and boosting tourism and Saudi culture. The country’s entertainment sector were issued 34 investment licenses in the third quarter of 2023, which marked 13% increase as compared to previous quarter. Since 2020, the sector gained 303 licenses, with 2189 licenses were issues in the last five years. The kingdom during this period hosted events with more than 75 million attendees. The entertainment sector has been a driver for tourism, leading to 6. 2 million inbound tourists in 2023, which is a 153. 3% increase from the previous quarter. Inbound tourist spending was at SR 4 billion ($ 1. 07 billion), marking a 29% increase from the previous year. Similarly, local tourism saw 35 million visitors in 2023, a 17% jump from 2022, even though the spending was reduced by 8. 5% to SR 4. 7 million. The General Entertainment Authority in Saudi Arabia was established in 2016 and milestones like reopening cinemas in 2018 demonstrate the country’s commitment in developing the sector. The Ministry stated that Entertainment sector is a one of the drivers for tourism growth, bringing in economic growth through events and activities that draw in both domestic and international visitors. With entertainment sector growing fast, it is enriching cultural experiences and placing Saudi Arabia as a global tourist destination, contributing to the country’s economic and social agendas. --- > A professional license in Saudi Arabia helps professionals like teachers to migrate & share their knowledge & expertise for the development of KSA. - Published: 2024-11-21 - Modified: 2024-11-21 - URL: https://analytix.sa/professional-license-in-saudi-arabia/ - Categories: Articles A professional licence in Saudi Arabia helps the professionals like teachers to migrate to Saudi Arabia and share their knowledge and expertise for the development of the Kingdom. After the updated investment law, the Kingdom is vigorously investing in many sectors and demands professionals to handle these sectors. Obtaining a professional license in Saudi Arabia is crucial for individuals and businesses looking to establish themselves in the dynamic and rapidly growing economy of the Kingdom. No matter whether you are a freelancer, a consultant, or a company offering specialized services, a professional license serves as an official authorization to operate legally in the Kingdom. With the nation’s Vision 2030 initiative driving economic diversification, the need for skilled professionals are on rise across various sectors in the country. Are you a professional planning to migrate to Saudi Arabia? Facing difficulty while acquiring a Professional License? Don't worry, this blog is for you. Read the blog to know more about professional license in KSA and key aspects of acquiring a professional license in the kingdom. . So stay tuned to know more! What is a Professional License in Saudi Arabia? A professional license In Saudi Arabia is an official permit that allows the individuals or companies to operate legally in their respective professional fields in the country. This license is issued by the Saudi Ministry of Commerce or sometimes by the relevant local authorities. It is important for many regulated industries like law, consulting, healthcare, engineering, and finance. The professional license is very crucial to ensure that the professionals meet the necessary requirements and fit the regulations set by local authorities, thus contributing to the top level of professionalism and accountability within these sectors. Professional Licensing Requirements in Saudi Arabia For Professional Partners Required Documents for Professional Partners You have to provide a copy of the commercial registration of the participating foreign establishment which must be authorised by the Embassy of Saudi Arabia. A commercial registration is crucial for showcasing the professional activity of the companyFor businesses not previously licensed by the Ministry of Commerce for professional activities, you have to submit the financial statements of the company for the last financial year, and it must be certified by the Saudi Embassy. If any one of the partners holds citizenship of a GCC country, they need to submit a copy of their national ID. Similarly if a partner has Saudi nationality, a copy of their national ID is required along with a document from the "ABSHAR" system verifying their professional status. Also, every partner must present a copy of their professional license, issued by the relevant authority in Saudi Arabia. Rules and Restrictions for Professional License in Saudi Arabia A Saudi partner with a professional license must have a minimum 25% share, and must be in line with the specific thresholds determined by the nature of the activity. The ownership status of non-professionals—no matter if they are Saudi nationals, Gulf citizens, holders of distinguished residency, or entities without professional status—should not exceed... --- - Published: 2024-11-19 - Modified: 2024-11-19 - URL: https://analytix.sa/worlds-largest-green-hydrogen-plant-set-to-launch-by-2026-in-saudi-arabia/ - Categories: Daily News RIYADH: Saudi Arabia's NEOM Green Hydrogen Company (NGHC) is advancing rapidly on the development of the world's largest green hydrogen plant which is set to launch in December 2006. The project is 60% complete and relies completely on solar and wind energy to power a 2. 2-gigawatt electrolyzer which will continuously produce hydrogen. The project lowers production costs and makes NGHC a global leader in green hydrogen development. Green hydrogen produced through electrolysis by renewable energy emits no greenhouse gases and is an important element to decarbonize industries like heavy transport and steel production. NEOM, with its abundant solar and wind resources creates a competitive edge and a cost-effective production. The hydrogen’s transport and distribution in ammonia form is secured under a 30-year offtake agreement with Air products to take care of the increasing global demand. In line with Vision 2030’s initiative, the project presents Saudi Arabia’s efforts in shifting from an oil dependent economy to renewable energy and technology sectors. The project lies in the northwest Red Sea development zone, benefiting from consistent solar and wind energy and supporting local economic transformation. NGHC has partnered with universities and training programmes to develop Saudi expertise in green energy. To optimize electrolyzer technology and boost operational efficiencies, partnerships like 10-year agreement with Germany's ThyssenKrupp have been established. To refine processes and achieve lower costs, the project’s first electrolyzer will be tested prior to full-scale operations. Wesam Al-Ghamdi, NGHC CEO, highlights the plant’s scale, its strategic location and strong partnerships making it a global model for renewable energy innovation and is a paramount for Saudi Arabia’s future green energy projects. --- > ‘Project Transcendence’ is something unprecedented for Saudi Arabia, backed by an astonishing amount of investment, at $100 billion. - Published: 2024-11-18 - Modified: 2025-06-24 - URL: https://analytix.sa/saudi-arabia-plans-100-billion-investment-build-global-ai-powerhouse/ - Categories: Articles ‘Project Transcendence’ is something unprecedented for Saudi Arabia, backed by an astonishing amount of investment, at $100 billion. Indeed, with one of the most ambitious projects under Saudi Vision 2030, Saudi Arabia is set to become a global AI powerhouse while reducing traditional oil dependency. Envisioned as a direct competitor to the regional tech hubs such as UAE, Project Transcendence is meant to supercharge Saudi Arabia's AI capabilities, create a robust ecosystem for local and international tech innovation, and foster AI-driven solutions with global relevance. The project shall make extensive use of resources in developing next-generation data center capabilities, support AI-focused startups, and create a new generation of skilled tech professionals within Saudi Arabia. This will play a game changing role for international entrepreneurs looking to start a business in Saudi Arabia. Project Transcendence fosters local talent while harnessing the best knowledge and expertise from all around the world. It is a future vision for the Kingdom to become the leader in AI-related breakthroughs in the Middle East and even around the world. In addition to the economic impact it promises, this project holds a lot of promise for social and cultural benefits such as augmenting AI applications in the Arabic language and bringing about closer digital access to everyone by bridging the cultural gap. Saudi Arabia has been making these moves in the socio-emotional context of a country trying to emerge, decisively, not just as an innovator in artificial intelligence but also as a leading global player in digital transformation. Experts say that sustainable governance and also establishing genuine international partnerships will be the keys to ensuring a lasting impact of the project and driving long-term growth. Objectives of Project Transcendence The “Project Transcendence” of Saudi Arabia is an entirely revolutionary initiative to create a hub of Artificial Intelligence like the UAE. This project requires making a record-breaking investment of $100 billion to create a developed AI infrastructure, support startup initiatives, create a pool of qualified personnel or workforce and attract leading global technology companies to work in the territory of the Kingdom. The idea that lies at the base of Project Transcendence is the desire to decrease the dependency of oil and increase the economy by bringing out a more progressive state backed up by better technology. The project hinges on such examples as the collaboration between the Public Investment Fund (PIF) and Google AI, utilizing successful models of performing collaborations to drive rapid technological development. It is also worthy of note that this laudable project lies in consonance with the Saudi Vision 2030 Project which focuses on increasing the economic assets of the kingdom through diversification and innovation. A number of strategic objectives were made with the project, including developing advanced data centers, a supportive environment for tech startups, an effective workforce proficient in AI, and substantive direct foreign investment to attract technology driven enterprises to Saudi Arabia. This initiative has opened a stream of opinions among industry experts. While several writers, such as futurist Dr. Ayesha... --- > The recent data on the country being a platform for attracting 184 foreign company headquarters is an evidence of the growth of Saudi Arabia as a world business hub. - Published: 2024-11-18 - Modified: 2024-11-18 - URL: https://analytix.sa/saudi-arabia-hosts-184-foreign-company-headquarters-in-2024/ - Categories: Articles Saudi Arabia has emerged as a global hub for business expansion. The recent data on the country being a platform for attracting 184 foreign company headquarters is an evidence of the growth of Saudi Arabia as a world business hub. This achievement underscores the unwavering commitment of the Kingdom towards its goals on economic diversification under the Vision 2030 initiative. Saudi Arabia is a promising land for business expansion due to its inviting combination of strategic location, cutting-edge infrastructure, and business friendly reforms. And by offering attractive investment law reforms, Saudi Arabia is cementing its status as a preferred destination for multinational corporations. This milestone is a reflection of the growing status of the country's preference in world business forums and signals a transformative era of opportunities for the region. As reported by the Ministry of Investment of Saudi Arabia (MISA) the country marked a remarkable milestone in 2024, by being a platform for 184 foreign companies to establish their regional headquarters in Saudi Arabia during the first half of the year. To break down the numbers, during the first quarter, 127 foreign companies obtained license to set up their regional offices. During the second quarter, 57 companies secured license to set up their foreign company’s regional offices. This data represents an 84% year on year growth compared to the same period in 2023, and this data is a proof of the increasing appeal of Saudi Arabia as a global business hub. This significant rise in the number of newly registered companies reflects the increasing demand of the Kingdom as a go to destination for international operations. It is also an evidence of the wealth of opportunities available in the dynamic market of Saudi Arabia which are supported by the proactive measures of the Saudi government to attract investment from foreign businesses. 4,709 ‘Investor Visit’ visas, processed by MISA to facilitate the exploration of business prospects in the Kingdom, reflects the favourable conditions available to start a business in Saudi Arabia. By implementing strategic reforms in the investment ecosystem of the country, like streamlining of legal frameworks, reshaping investment laws, and enhancing procedural efficiencies, Saudi Arabia is transforming as a favourable destination for investors around the world. There was also a significant rise of 49. 6% year on year increase in the issuing of Investment licenses reaching 2,728 in the first half of 2024 compared to 1,824 during the same period in 2023. This growth also underscores the Kingdom’s transformation as a go to land for diverse investments across various sectors. Key sectors which emerged as a frontrunner in obtaining investment license include construction, manufacturing, education, technology, and retail. Also, the mining and quarrying industry experienced a staggering 209. 1% growth in licenses, followed by substantial expansions in wholesale and retail trade, along with other service sectors. Overall the country is growing as a favourite hub for business expansion and offers a favourable environment for both foreign and domestic businesses to start and establish in the country. The strategic location... --- - Published: 2024-11-15 - Modified: 2024-11-15 - URL: https://analytix.sa/saudi-insights-saudi-arabias-tourism-and-economic-growth-key-developments-and-achievements/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 8th November to 14th November 2024 Saudi Arabia climbs to 12th place from 15 positions in tourist spending: UN Tourism RIYADH: Saudi Arabia jumps from 15 positions to rank 12th in tourist spending in 2023, making it a huge achievement for the country in global tourism, according to a report by UN Tourism. This is impressive as it is the largest leap among the top 50 countries. The report stated that among the G20 nations, Saudi Arabia was at the top at attracting international tourists with a rise of 73% and tourism revenue increasing up to 207% from January to July 2024 as compared to the same period in 2019. These achievements indicate that the kingdom is one of the top tourism destinations, reflecting increasing confidence in its various attractions. Deputy Minister of Destination Enablement, Mahmoud Abdulhadi, announced that the Ministry of Tourism has raised its visitor target from 100 million to 150 million for 2030 and the numbers could go up further if the goals are achieved early. During the Future Hospitality Summit in Riyadh, he stressed ongoing assessments of sector performance. The UN World Tourism Organisation (UNWTO) complimented Saudi Arabia’s tourism as a ‘significant milestone,’ as tourism related spending reached more than $ 37 billion in 2023. The amount of hotel capacity also increased considerably, supporting 27. 4 million visitors in 203, up by 56% in 2019. The boom resulted in a record tourism surplus of SR 48 billion ($ 12. 8 billion) in 2023, a 38% increase year-on-year. The International Monetary Fund (IMF) recognised tourism can play a key role in diversifying Saudi Arabia’s economy under Vision 2030, contributing to the country’s service sector, creating jobs and contribution to GDP. Globally, tourism is coming back to its pre-pandemic form, with Middle East getting higher growth at 26% above 2019 levels, positioning Saudi Arabia as a prime tourist spot. Saudi Arabia’s PMI reached six-month peak as non-oil growth surges in October RIYADH: In October, Saudi Arabia saw the fastest business growth in the non-oil sector in six months as a result of increased sales. The surge in sales led expansions in business activity, employment, purchasing and inventory, reflecting continuous strong demand and economic momentum. The Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), a measure of the performance of non-oil sector, grew from 56. 9 to 56. 3 with a continuous three-month upward trend. The PM counts in five factors: New Orders, Output, Employment, Suppliers’ Delivery Time, and Stocks of Purchases. Reading of above 50 implies expansion and October’s reading reflected a booming sector. Riyad Bank’s Chief Economist Naif Al-Ghaith reported more than 40% of surveyed companies reported increased demand. Strong interest from domestic clients, innovative marketing and ongoing infrastructure investments all led to the demand surge. As the non-oil sector is expanding, the sector is predicted to contribute over 52% to... --- > iddiya launches 'Spirit of Play' to enhance partnerships, redefine visitor experiences, and drive Saudi tourism under Vision 2030. - Published: 2024-11-08 - Modified: 2024-11-08 - URL: https://analytix.sa/qiddiya-sets-up-executive-office-to-boost-engagement-with-business-partners/ - Categories: Daily News RIYADH: Qiddiya, backed by Saudi Arabia’s Public Investment Fund, recently launched an executive office called ‘Spirit of Play’ in an effort to enhance collaboration with business partners. With this new office, Qiddiya intends to look after destination marketing and management, making it Qiddiya’s first attempt at establishing partnerships with businesses, investors and industry professionals. Qiddiya City, located 40 minutes from Riyadh, is a family-friendly entertainment and cultural hub. It lines up with Saudi Vision 2030’s objectives to diversify the economy, promote tourism and create ample job opportunities. Qiddiya touted as a flagship project, is expected to draw in millions of visitors, house more than half a million residents and create jobs across various industries. The office will also focus on strengthening relations with leaders in the travel industry, keeping them involved and encouraging their role in building Qiddiya as a world class destination. The executive office’s key purpose is to make Qiddiya like nowhere else, by creating an immersive and interactive place providing opportunities for exploration, adventure and growth. The approach attempts to redefine visitors’ experiences by combining interactive elements, inspired by the rapidly evolving travel trends where tourists look for diverse entertainment experiences like concerts and sports events. In addition to this, Qiddiya Investment Co. is partnering with the tech firm Globant to modify Qiddiya into an immersive destination using its Qiddiya PLAY LIFE Connected Experience. By enabling the tourists to interact digitally with Qiddiya’s entertainment, sports and cultural spaces, the initiative will position Qiddiya as a future forward city for global tourism and adventure. --- > Aramco's Q3 2024 profit hits $27.52B, 15.4% lower YoY. Investments in solar projects show commitment to clean energy and increased capacity. - Published: 2024-11-06 - Modified: 2024-11-08 - URL: https://analytix.sa/saudi-aramco-announces-net-profit-of-27-52-bn-in-q3/ - Categories: Daily News RIYADH: In Q3 2024, Saudi Aramco earned a net profit of $ 27. 52 billion (SR 03. 37 billion), above analyst expectations of $ 26. 9 billion. However, the profit was 15. 40% lower than in Q3 2024 given the challenging market conditions and lower crude oil, refined and chemical product pipes. The oil output was cut by 50,000 barrels per day, starting from April 2023 to December 2024 due to Saudi Arabia’s alignment with OPEC+. Aramco’s Q3 revenue from Sales was SR 416. 63, lower by 1. 76% from the previous year. Capital investments grew to SR 49. 6 billion, indicating the company’s commitment to increase its capacity. Additionally, the company has issued $ 3 billion in international sukuk to broaden investor base and increase liquidity. Amin Nasser, Aramco’s President and CEO mentioned the company has a strong cash flow and operational performance and strategic investments in both upstream and downstream sectors as well as renewable energy. Aramco’s net profit for the first nine months of 2024 was SR 314. 65 billion, down by 11. 25% compared to 2023, while total sales revenue increased marginally by 0. 02% to SR 1. 24 trillion. The company announced SR 0. 315 as base dividend per share, coming to a total of SR 76. 06 billion, and a performance linked dividend of SR 0. 167 per share, totaling SR 40. 39 billion. Aramco completed financial closures for three solar photovoltaic projects which is worth SR 12 billion with a capacity of 5. 5 GW in renewable energy. The projects include Haden and Muwayh projects in Makkah (2 GW each) and Al-Khushaybi project in Qassim (1. 5 GW), which reflects the company’s commitment to develop clean energy. --- > Planning to start a business in Riyadh? This guide will help you get an idea regarding the business setup in Riyadh and how to get your licenses. - Published: 2024-11-02 - Modified: 2025-01-27 - URL: https://analytix.sa/how-to-start-a-business-in-riyadh/ - Categories: Articles Planning to start a business in Saudi Arabia? Well, Riyadh is a good option to consider if you are planning to set up business in this Arab Kingdom. As the capital city of Saudi Arabia, Riyadh offers splendid opportunities for entrepreneurs planning to expand their business to the most dynamic market of the Middle East. Being the platform of World Expo 2030, Riyadh offers numerous opportunities that no other Saudi Arabian city can provide. Thriving economy, fueled by the initiatives of Vision 2030 is boosting the innovations, foreign investment and economic diversification in the Kingdom. Before setting up a business in Saudi Arabia, one must have a thorough understanding of legal requirements, cultural landscape, and local regulations prevalent in the country. This guide will help you get an idea regarding the business setup in Riyadh, legal documentation involved and how to choose the ideal business structure. So read the blog to navigate the complex process of company formation in Riyadh and explore the steps involved and cost to be arranged before starting your business journey in Riyadh. So let's dive in! Business Environment in Riyadh The vibrant and ever growing business landscape of Riyadh offers a favourable environment for the dynamic business growth for both local entrepreneurs and foreign investors alike. The robust legal and economic landscape of the country is attracting thousands of investors to the capital city of Saudi Arabia. With the ambitious plan of Vision 2030, the Saudi government has come up with numerous reforms aimed at easing the business operations in the country and encouraging foreign investments. Considered to be among the top 15 fastest growing global cities by 2033, Riyadh, the capital and commercial heart of Saudi Arabia, offers various business opportunities and provides a favourable environment for business in the country. The businesses that are planning to expand to Riyadh can benefit from the legal framework in the Kingdom which aims to provide a favourable business environment in the city by offering foreign investors incentives like tax exemptions, full ownership in certain sectors, and streamlined business registration processes etc. Also the favourable business policies and corporate initiatives of the city promote a transparent and competitive market in the Kingdom. Various industries in Riyadh like technology, healthcare, and retail show immense potential for growth. With the booming technology sector, Riyadh is on its way to become a tech hub by focusing on smart city projects, digital transformation, and AI integration. Healthcare is another area of significant expansion in the city due to the huge demand for first class medical services, specialised treatments, and research facilities. Another ever growing industry in Riyadh is the Retail which is supported by the young and prosperous population of the city which has a growing appetite for various consumer products and services. Also Riyadh dominates the construction market in Saudi Arabia offering more opportunities in the sector at Riyadh. With numerous business friendly policies and expanding sectors, Riyadh offers huge opportunities for businesses planning to expand to the Middle East.... --- > Red Sea Global (RSG) secured $ 1.5 billion for funding the AMAALA Infrastructure project which will transform Saudi Arabia’s Red Sea coastline into a luxury wellness destination. - Published: 2024-11-01 - Modified: 2024-11-08 - URL: https://analytix.sa/red-sea-global-raises-1-5-bn-funding-for-amaala-infrastructure-project/ - Categories: Daily News RIYADH: Red Sea Global (RSG) secured $ 1. 5 billion for funding the AMAALA Infrastructure project which will transform Saudi Arabia’s Red Sea coastline into a luxury wellness destination. Partners of the project include EDF Group, Masdar, Korea East-West Power Co. (EWP) and SUEZ. First Abu Dhabi Bank, Emirates NBD and Riyad Bank are the main institutions that financially supported the project. This milestone will help AMAALA achieve its goal of providing unmatched luxury and sustainability to guests from 2025. RSG's CEO John Pagano disclosed that the project would use 100% renewable energy showing that eco-friendly large-scale business can be profitable. The multi-utility concession agreement which was signed in September 2023 has a 25-year term with a possibility of extension. The project comprises of financing, development, construction, operation, maintenance and transfer of infrastructure facilities. The infrastructure of AMAALA will comprise an off-grid renewable energy system with 250MW solar park, 700 MWh battery storage, transmission lines, desalination plant of 37 million litre per day and wastewater treatment facilities. This design aims to reduce 350,000 tonnes of CO2e emissions every year presenting a sustainable luxury tourism. EDF, Masdar, EWP, and SUEZ’s key leaders highlighted the project’s innovative approach with solar power and water treatment solutions which has set new industry standards. The project aims to deliver carbon-free electricity and water to 65,000 people, create employment for the locals and foster economic growth. AMAALA aims to generate 30 net conservation benefits by 2024, helping ecosystems like mangroves and coral reefs to boost biodiversity and carbon capture. When complete, AMAALA will provide over 4,000 hotel rooms across 30 hotels, luxury residencies and a community of more than 15,000, making luxury living through sustainability. --- > Inter Milan has now been granted an investment license from Saudi Arabia’s Ministry of Investment (MISA). - Published: 2024-10-30 - Modified: 2024-11-01 - URL: https://analytix.sa/inter-milan-secured-saudi-investment-license/ - Categories: Articles Inter Milan has now been granted an investment license from Saudi Arabia’s Ministry of Investment (MISA) making the Italian club the first international football club to have secured the license. This business license in Saudi Arabia allows Inter Milan to formally start its operations in Saudi Arabia where it seeks to increase its reach and the fan base in the kingdom and also boost the kingdom sports industry. Similarly, for both Inter Milan and Saudi Arabia, is this kind of development of football and cultural intertwining precisely with Saudi Arabia’s Vision 2030. Saudi Arabia Vision 2030 is a development strategy paper that identifies sectors such as sports as strategic areas for the economy to expand the Kingdom’s economy while at the same time promoting a healthy lifestyle. This vision is evident by Inter Milan’s recent sign of interest to setup operations in the region to advance football culture and contribute to talent and development within the region as well as strengthening the bond with Saudi sport enthusiasts. This aligns with Inter Milan’s corporate CEO, Alessandro Antonello who noted stating that, “This license means the club has an obligation to bring value to Saudi Arabia through active participation in the development of the country’s sporting industry, and to engage local companies in the global Inter network”. The announcement was made during a separate occasion held at MISA’s headquarters in Riyadh and was presided over by Inter Milan’s Vice President Javier Zanetti, the Club’s Chief Executive Officer Alessandro Antonello, and Chief Revenue Officer, Luca Danovaro. Inter Milan has various plans to set its foundation in Saudi Arabia, which consists of Inter Academies for youth and Women’s Development. Thus, the club plans to open its academies across the Saudi Arabia in order to act as a scout for the new generation of Saudi football players, while providing them with knowledge and experience of club. The academies will enable young Saudi’s to sharpen their skills under the supervision of trainers and share with some of Inter Milan’s ‘legends’ who are to visit occasional local events in order to meet some of the fans. For Saudi football fans, these meetings makes the spirit of Italian football something they are naturally more familiar with, creating a connection between Italian football culture and sports business in Saudi Arabia. Of much importance is this partnership because it comes at a time that Saudi Arabia has been pushing for the improvement of women’s sporting activities. Inter Milan plans to establish academies for the female athletes in Saudi Arabia where they will be offered the platform to sparkle, owing to the Saudi Arabian’s government’s new era reformations which also include the Saudi Arabian empowerment initiatives. Therefore, any involvement of Inter Milan, especially in area like gender diversity in, this sports, is a reflection of the wider change agendas that this club is involving itself in change that will make this partnership a positive impact on this region. Inter Milan’s strategic decision to invest through a partnership with Saudi Arabia also... --- > Saudi Arabia nears cashless economy milestone with 98% contactless transactions, driven by Visa's innovations and Vision 2030's digital goals. - Published: 2024-10-29 - Modified: 2024-10-29 - URL: https://analytix.sa/saudi-arabia-moves-closer-to-a-cashless-future-with-98-contactless-payment/ - Categories: Daily News RIYADH: Saudi Arabia is getting closer to its goal of becoming a Cashless society as the country recorded 98% in-person contactless transactions, a rise from 4% recorded in 2017, as stated by Visa’s regional president Andrew Torre. Government support, consumer demand and visa initiatives have all contributed to this rapid growth, aligning with Saudi Arabia’s Vision 2030’s objectives to enhance digital commerce and innovation. Visa which has been in the country for 40 years, has set up an innovation centre and office at King Abdullah Financial District in Riyadh. Visa’s fourth global centre, the facility will drive digital payment solutions through AI, biometrics and the Internet of Things, partnering with local banks, fintechs and government entities. KAFD’s chief commercial officer, Sultan Al-Obaida highlighted that Saudi Arabia has a strong growth in the banking sector which uplifts Riyadh’s status as a global financial hub. Saudi Central Bank (SAMA) which has influenced Saudi Arabia to be a fintech-friendly environment has also contributed to this digital transition. The adoption of fintech sandbox by SAMA has enabled new players to innovate, especially in embedded finance and cross-border remittances. The growth of E-commerce in the country reached an annual rate of 30% due to the growing influence of online shopping and the pandemic’s impact. Small businesses have been empowered by adopting digital payment which provides secure and efficient transactions. Torre believes this trend to grow more as AI is improving cashless payments and reducing use of cash. Visa’s efforts in Saudi Arabia show the effect of private public collaboration on improving digital payments, which also falls in line with Saudi Arabia’s aim of becoming a cashless society. --- > IMF forecasts Saudi Arabia's economy to grow 4.6% by 2025, the highest in the GCC, boosted by Vision 2030 and non-oil sector expansion efforts. - Published: 2024-10-28 - Modified: 2024-10-28 - URL: https://analytix.sa/saudi-insights-imf-forecasts-4-6-growth-for-saudi-economy-highest-among-gcc-by-2025/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 23rd October to 28th October 2024 IMF forecasts 4. 6% growth for Saudi economy, highest among GCC by 2025 RIYADH: Saudi Arabia’s economy is expected to increase by 1. 5% in 2024 and 4. 6% in 2025, making it the second highest rate of growth in the Gulf Cooperation Council (GCC). This outlook is consistent with a similar World Bank projection that predicted a growth of 4. 9% in 2025. This growth is driven by Saudi Arabia’s diversification efforts to broaden the non-oil sector to reduce dependency on crude oil. S&P Global also predicts Saudi’s GDP to rise 1. 4% in 2024 and 5. 3% in 2025 due to the anticipated U. S. Federal Reserve rate cuts which might help Saudi’s capital inflows. Growth expectations tend to differ across the GCC, with UAE and Qatar seeing steady expansion and Kuwait facing slower growth or slight economic contractions. The IMF forecasts a global growth of 3. 2% in 2024 and 2025, however, cautions of potential economic risks due to the ongoing conflicts such as in Ukraine and the Middle East. Inflation rates are expected to drop globally which enables advanced countries to achieve the targets faster than the emerging countries. To maintain economic growth, the IMF points out the need to bring targeted policy adjustments, structural reforms and multilateral cooperation. This positive outlook confirms Saudi Arabia’s Vision 2030 plans and its status of being the leading country in economic growth in the GCC. Madinah attracted over 14. 1 million visitors in 2023 RIYADH: Madinah recorded a growth of 124% in visitors from 2014, reaching 14. 1 million visitors. Al-Madinah Region Development Authority stated that these visitors spent over SR 43 billion (roughly $ 13 billion) in total, staying an average of 10 days; making it clear that Madinah attracts pilgrims and tourists alike. The visitors take part in various historical and religious activities such as prayers at the Prophet’s Mosque and Quba Mosque, along with key archaeological sites connected to Prophet Muhammad’s life. Al-Madinah Region Development Authority with its partners is currently developing over 100 sites across the region to enrich visitors’ spiritual and cultural journey. The aim is to offer pilgrims and tourists a deeper connection to the religious and cultural heritage of Madinah. Saudi Arabia invites Private sector to close the $ 10 bn agriculture investment gap RIYADH: Saudi Arabia stated that its agriculture sector has an investment gap of $ 10 billion, calling the private sector to fill the gap and increase production and infrastructure. Sulaiman Al-Khateeb, assistant deputy minister for agriculture affairs, while speaking at the 41st Saudi Agricultural Exhibition, stressed the investment needs in areas such as plant, animal production, fisheries and agricultural processing. These initiatives are important to meet the targets of National Agriculture Strategy 2034 and Vision 2030 for food security and economic diversification. Even though Saudi Arabia... --- > Saudi non-oil exports reached SR 27.52B, up 7.5% in August 2024, supporting Vision 2030’s goal to diversify the economy beyond oil. - Published: 2024-10-25 - Modified: 2024-11-23 - URL: https://analytix.sa/saudi-arabias-non-oil-exports-for-august-grew-by-7-5/ - Categories: Daily News RIYADH: The General Authority for Statistics (GASTAT) revealed that Saudi Arabia’s non-oil exports have increased by 7. 5%, reaching a total of SR 27. 52 billion ($ 7. 33 billion), showing a remarkable growth when compared with same month of the last year. This growth falls in line with Saudi Arabia’s Vision 2030 which aims to diversify the economy by reducing dependency on oil. A positive upward trend has been taking place for the non-oil exports from July with 8. 13%. There’s been an improvement in the export-to-import ratio as well which came to 42. 5% in August 2024, an increase from 38% in August 2023. The 7. 5% surge in non-oil exports and a dip in imports of 3. 9% are the main drivers of this growth. Chemical Products dominated non-oil exports covering 25. 8% of exports with a 9. 3% increase year-on-year, followed by plastics and rubber products at 23. 9%, showing a 1% increase. Also, re-exported goods saw a surge of 18. 9% year-on-year. Overall, merchandise exports fell by 9. 8% as oil exports were down by 15. 5% which reduced the share of oil exports in overall exports from 75. 1% to 70. 3%. In order to stabilise oil markets, Saudi Arabia imposed a production cut of 500,000 barrels per day from April 2023 and until December 2024. The top destination for Saudi exports was China, followed by South Korea, India and Japan. Merchandise trade surplus in the country dropped by 21% as the imports declined to 3. 93% in August. The main entry point for imports is King Abdulaziz Sea Port, which accounted for 28. 5% of total shipments worth SR 18. 48 billion. --- > SR 50bn in healthcare deals announced, including hospital expansions, pharma manufacturing, and digital innovations to boost Saudi Vision 2030. - Published: 2024-10-24 - Modified: 2024-10-24 - URL: https://analytix.sa/investments-announced-by-saudi-arabia-at-global-health-exhibition/ - Categories: Daily News RIYADH: Saudi Arabia's Minister of Health, Fahad Al-Jalajel announced during the Global Health Exhibition in Riyadh investment deals worth over SR 50 billion ($ 13. 3 billion) in order to boost the healthcare sector. The major deals are agreements with NUPCO and Novo Nordisk and Sanofi for a SR 4 billion pharmaceuticals manufacturing deal, Fakeeh Care Group for SR 5 billion expansion and Almoosa Health Group worth SR 3 billion to create new care centres and hospitals. Dallah Health acquired Al-Salam and Al-Ahsa hospitals by adding 749 beds to the Eastern Province Health system and is planning to build a new hospital in Riyadh which will be worth SR 4 billion. The event ‘Invest in Health’ will be held till Wednesday bringing together industry leaders and experts to discuss transformative investments. Al-Jalajel highlighted the kingdom’s leadership in regional healthcare investments which is in line with Vision 2030 strategy to diversify the economy and boost the healthcare sector. The Private health insurance market has also been growing and ended 2023 with more than 12 million people insured by the end of 2023 as compared to 3 million in 2011. The market valued at SR 40 billion, is believed to hit double the figure by 2030. Other than financial deals, numerous strategic partnerships were also announced in order to encourage research, innovation and development of healthcare professionals through partnerships between universities, healthcare institutions and the private sector. These initiatives are aimed at the country’s focus on digital solutions, artificial intelligence and innovation to solve global healthcare issues. --- > Get the latest Saudi news on real estate growth, green investments, Saudi-Italy ties, and Riyadh's urban development with South Korea. - Published: 2024-10-23 - Modified: 2024-10-24 - URL: https://analytix.sa/saudi-insights-residential-growth-green-investments-and-global-industrial-partnerships-drive-vision-2030/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 14th October to 22nd October 2024 25% rise in Saudi Residential Transaction value for Q3 RIYADH: Residential transaction values in Saudi Arabia rose by 25% year-on-year to SR 35. 4 billion ($ 9. 4 billion), according to Knight Frank. Demand in the housing market went up, with the number of deals rising by 12% to 45,924. Riyadh led the growth, seeing an increase of 16% and transaction values rising to 41% compared to Q3 2023, positioning its role as an important real estate hub. This is driven by Vision 2030’s strategy to create more homeownership to reach 70% by 2030, causing a surge in residential projects. Specifically, ROSHN, an initiative of Public Investment Fund, is developing over 200,000 homes across the country. A total of 3. 5 million housing units are present in Saudi Arabia which is projected to increase to 3. 7 million by 2026. Additionally, the report stated Saudi banks granted SR 55. 7 billion in residential mortgage loans in the first eight months of 2024, 3% increase as compared to last year. This is based on the steady demand of homeownership and real estate investment, due to population growth and economic reforms. In a report by Jones Lang LaSalle in September 2024, Saudi mortgage contracts totalled 24,482 in Q2 2024, an 8% increase from 2023 and a 12% rise year-on-year reaching a total value of SR 18 billion, an 8% increase from 2023. This rise in mortgage activity is a result of government efforts to diversify the economy and diversify the economy. Saudi – Italy to deepen industrial ties during high-level official’s visit RIYADH: Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef is visiting Italy from 14th October to 16th October 2024, to boost the industrial and mining sectors between the two countries. This visit focuses on exploring joint opportunities in sectors like automotive, food, space and marine sectors, in line with National Manufacturing Strategy of Saudi Arabia. The minister will make stops in Rome and Milan to attract investments into key sectors in Saudi Arabia. Saudi non-oil exports to Italy accounted for SR 2. 8 billion ($ 747 million) in 2023, while non-oil imports from Italy amounted to SR 21. 8 billion. During this visit, Alkhorayef will meet with government and private sector leaders like Yousef Al-Mimni from Saudi-Italian Business Council, Italian ministers Gilberto Pichetto Fratin (environment and energy) and Adolfo Urso (enterprises). The discussions aim at boosting industrial cooperation and knowledge transfer. The minister will also hold meetings with Italian General Confederation of Industry (Confindustria), Barbara Cimmino, and business leaders from key sectors. He will also have meetings with Chairman of Piech Automotive, Toni Piech and CEO of Fincantieri, Pierroberto Folgiero. In Milan, Alkhorayef will visit the key industrial facilities including Alessi Center and Leonardo’s Aerospace division and also meet with Attilio Fontana, regional president to... --- > Saudi Arabia’s economy is projected to grow by 1.6% in 2023 and 4.9% in 2025, with inflation staying low at 2.1% in 2024 and 2.3% in 2025. - Published: 2024-10-18 - Modified: 2024-10-20 - URL: https://analytix.sa/world-bank-predicts-saudi-arabias-economy-to-rise-to-4-9-in-2025/ - Categories: Daily News RIYADH: Saudi Arabia’s economy is projected to grow by 1. 6% in 2023 and 4. 9% in 2025, with inflation staying low at 2. 1% in 2024 and 2. 3% in 2025. This growth is boosted by structural reforms and rising female participation which rose to 34% in 2023 from 22% in 2016, Vision 2030. The economy has diversified and modernised, creating more opportunities, especially for women. The report states that Saudi Arabia’s growth outlook surpasses the earlier forecast given by the IMF. S&P Global predicts a 5. 3% GDP growth by 2025, due to the kingdom’s strategy to diversify its economy and not be dependent on oil revenue. Economic growth is expected to differ across the GCC countries with an overall growth at 1. 9% in 2024 and 4. 2% in 2025. Qatar, UAE and Bahrain displayed positive growth prospects, meanwhile, countries like Kuwait and Oman have slower recoveries. Growth in the wider Middle East and North Africa (MENA) region will continue remaining subdued due to the ongoing conflicts happening in Lebanon and Syria. World Bank emphasises that closing the gender employment gap could significantly increase the region’s per capita income. The report suggests the importance of technological development, better balance between private and public sector, and an active international trade for the development of the MENA countries. The region’s ability to drive innovation and productivity is relying on adopting digitalization and improving data transparency. --- > At the Saudi-South African Forum, a $25M deal was signed to boost Saudi trade, focusing on mining and economic partnerships. - Published: 2024-10-16 - Modified: 2024-10-20 - URL: https://analytix.sa/saudi-south-african-business-forum-signs-25m-credit-deals-to-support-exporters/ - Categories: Daily News RIYADH: A $ 25 million credit agreement was signed between Saudi Export-Import Bank and South Africa’s Standard Bank Group at the Saudi-South African Business Forum held in Johannesburg. This deal is to help Saudi companies trading in South Africa with financial support. The forum brought 420 business leaders and officials together to discuss how to boost economic ties, particularly in mining sector. The Saudi Export Development Authority signed a cooperation agreement with Skytower Development Co. Saudi Arabia and South Africa’s trade was estimated at $ 3. 5 billion and Saudi Arabia being South Africa’s top trading partner in the region in 2023. Minister of Commerce, Majid bin Abdullah led the Saudi Delegation at the event, which aimed at cooperation in various sectors like mining and economic partnerships. The Forum supports Saudi Arabia’s aspiration to expand its trade and economic ties with South Africa which Crown Prince and Prime Minister Mohammed bin Salman mainly focused on during the 2022 Saudi African Summit. Iman bint Habas Al-Mutairi, Vice Minister of Commerce, represented economic reforms of Saudi Arabia including 820 reforms in nine sectors since 2016. The country has simplified business processes, reducing licensing requirements and offers 100% foreign ownership in most sectors. SMSA’s operations center was inaugurated by Al-Qasabi, with an agenda to improve logical solutions. The meeting also had discussions with South African ministers covering topics like trade relations, business opportunities, support for small businesses and participation of South Africa in the Biban24 Forum. --- > Saudi Arabia wishes to become a Global Logistics Hub status by 2030 by investing heavily, strategically in technology and infrastructure. - Published: 2024-10-14 - Modified: 2024-10-20 - URL: https://analytix.sa/saudi-arabia-desires-to-become-global-logistics-hub-status-by-2030-through-tech-investments/ - Categories: Daily News RIYADH: Saudi Arabia wishes to become a Global Logistics Hub status by 2030 by investing heavily, strategically in technology and infrastructure. King Salman International Airport Development Co. (KSIADC), which is owned by Saudi Arabia's sovereign wealth fund has teamed up with ewpartners, a firm which focuses on private investment and strategic alliances. The collaboration with Public Investment Fund will help position Saudi Arabia as a kay link between the three continents with progress on National Transport and Logistics Strategy aligning with Vision 2030. The partnership will look to develop an economic center for e-commerce and distribution at the King Salman International Airport, strengthen the ties between Saudi Arabia and China and enhance supply chains. This will boost regional trade and will also position the airport as a global hub for air freight. Marco Mejia, acting CEO of KSIADC stated that the partnership is a major step at making the airport a central hub serving regional and international companies, which will drive the country’s economic growth. This collaboration will help KSIADC build and improve logistical infrastructure, boost operational efficiency and create new potential for growth. Ewpartners’s founder, Jerry Li pointed out that the strategic location of King Salman International Airport with its commercial capabilities will drive innovation and growth in Saudi Arabia’s logistics and e-commerce sectors. Both parties are looking to invest in areas like infrastructure, digital services, advanced manufacturing and logistics in support of Saudi Arabia’s vision to become a key player in global logistics by 2030. --- > This blog will discuss in detail about the investment opportunities in the Red Sea project in Saudi Arabia across various sectors. - Published: 2024-10-13 - Modified: 2024-10-15 - URL: https://analytix.sa/red-sea-project-in-saudi-arabia/ - Categories: Articles The Red Sea Project in Saudi Arabia, one of the three major investment projects detailed in the Saudi Vision 2030, is building the future of Saudi Arabia. This $17 billion project is expected to contribute $5. 3 billion to the GDP of Saudi Arabia and create 70,000 induced, direct and indirect job opportunities. Though launched 6 years ago, the Red Sea Project has become a go to destination for global companies entering the Saudi business market and tapping the one trillion dollar market of Saudi Arabia. The Red Sea Project Saudi Arabia, located on the west coast of the country spans over an area of 20,000 square kilometres between the Umluj and Al Wajh and covers 6 inland locations and 22 islands. The Red Sea project which mainly has 3 islands, called Ummahat Island, Shurah island, and Shybarah Island are great areas of construction and development projects, and are an ideal place for global investment. The Six Senses Southern Dunes, Desert Rock, Turtle Bay Villas, and Townhouses, etc. are the famous tourist destinations in the Red Sea destination. These areas are not only beneficial for the construction firms, but also provide value to other industries which are left to be explored. Curious to know about the Red Sea project in Saudi Arabia? Then read this blog which discusses in detail about the investment opportunities in the Red Sea project across various sectors like high end hospitality services, renewable energy solutions, entertainment, infrastructure, etc. So let's get started! What is the Red Sea Project and What are its Objectives? Saudi Arabia Red Sea project, one of the major projects of Saudi Arabia, would be the ideal location for global investors to make large investments in the country. It would be an ideal place, where sustainability, luxury and innovations meet together to redefine the modern development processes. It is an ambitious project of Saudi Arabia to make maximum utilisation of the latest models in tourism and development and walk on the path of modernization by delivering the project which enhances the well being of environment, communities, and customers. The project works by complying with the principles of sustainable development stressing the importance of renewable energy and water conservation. The three main objective of the Red Sea Saudi Arabia isAttract domestic and international travellers by constructing a world class resort which brings in new opportunities for the Kingdom of Saudi Arabia. Contribute heavily to the economy of Saudi Arabia by unlocking new sectors and opportunitiesCreation of educational and economic opportunities for the young generation of the country Red Sea Project KSA: Opportunities for Entertainment Sector The Red Sea project in Saudi Arabia proves ample opportunity for entertainment companies to contribute to the cultural and recreational development of the country by focusing on cultural events, exhibitions, festivals, and this will surely help to highlight the natural beauty and cultural heritage of the region. Many companies are contributing to the development of the Red Sea project and the exciting one among them is the partnership... --- > This blog is a guide to import goods to Saudi Arabia which will benefit individuals wishing to start their import business in the Kingdom. - Published: 2024-10-12 - Modified: 2024-10-12 - URL: https://analytix.sa/guide-to-import-goods-to-saudi-arabia/ - Categories: Articles Analytix has come up with this blog to benefit businesses and individuals wishing to start their import business in Saudi Arabia and give guidance on importing goods to the kingdom. We are going to talk about most of the regulations set by the Department of Customs of Saudi Arabia(SADC), the documents that have to be submitted such as SASO conformity certificates based upon the product's compliance, and why following Saudi standards is very important. Of course, it wouldn't be complete without knowing something about the custom clearing process, tariff systems, and how initiatives by MISA (formerly SAGIA) are creating fertile ground for the growth of importing businesses in the Kingdom. You will walk out of this guide feeling entirely satisfied with all the information you need to be equipped with the key requisites and best practices for successful imports to Saudi Arabia. How to Get an Import License in Saudi Arabia? Foreign investors and businesses need to obtain an import license to be allowed to import goods to Saudi Arabia as the imposition of the kingdom’s regulations is crucial. This process involves some stages, as well as specific documents need to be signed and approved by the responsible authorities. Below are the key steps to follow when applying for an import license:Register with the Ministry of Commerce and Investment (MCI): Primarily, the importer should first sign up or register with the MCI to obtain the import licenseCertificate of Origin: This document, certified by a local chamber of commerce, should be translated into Arabic language. Customs Invoice: These should be provided in triplicate, as it is required for all imports except those with no significant value. Commercial Invoice: This document must also be lodged in three original copies, which contain the country of origin, name of the carrier, brand name, quantity, specification, weight, and value of the goods. Shipping or Airway Bill: This must be clean and accurate:Insurance Documents: In cases of CIF (Cost, Insurance, and Freight) contracts, insurance obligations precede the shipment to ensure the protection and safety of goods. These should be accompanied by translations into the Arabic language. SASO Certificate of Compliance: All import goods must be tested for conformity with the standards set by the Saudi Arabian Standards Organization (SASO) and this certificate is released by the concerned authority in the country of origin. Halal Certificate for Meat Products: Meat imports can only be allowed if the importer provides a Halal certificate to ensure that the slaughtering processes are conducted in compliance with regulations that operate within Saudi Arabia. Special Permissions for Specific Goods: Goods like agricultural seeds, live animals, books, chemicals, and pharmaceuticals require some special kind of permission from the Saudi government. Prohibited Goods: Weapons, adult magazines, alcoholic products, pork products, fur, certain sculptures, and other restricted items may not be imported. Samples for Exhibitions: Trade show and exhibition samples do not require Saudi labeling and shelf-life standards, but will be checked or inspected on arrival. What Are The Important Documents Required For Import License... --- > This blog will guide you on how to apply for a business visa in Saudi Arabia and how it helps you ease your business activities in the country. - Published: 2024-10-12 - Modified: 2024-10-12 - URL: https://analytix.sa/business-visa-in-saudi-arabia/ - Categories: Articles Saudi Arabia is a land of great business opportunities. With the recent economic diversification efforts of Saudi Arabia to more industries, the country is becoming a hub for rigorous business activities. It is a great place to grow and expand your businesses. But inorder to travel to the country for business purposes, you need a business visa in Saudi Arabia. It lets you attend business meetings, connect with local businesses, explore business opportunities, etc. Confused about how to apply for a business visa in Saudi Arabia and how it helps you ease your business activities in the country? Read this blog on Business Visa in Saudi Arabia and get the details you are searching for. So lets dive in! What is a Business Visa in Saudi Arabia? A business visa in Saudi Arabia allows you to travel to the Kingdom of Saudi Arabia for business purposes and comes with great benefits. It helps you execute several business activities like attending meetings and doing local market research, etc. But unlike a work visa, it doesn't allow you to work full time in the country. But it provides the opportunity to explore business activities in the country and start a business in the country. What is the Difference Between Business Visa and Work Visa in Saudi Arabia A business visa and work visa are two types of visas and they vary from each other in various ways. Purpose of the VisitA business visa for Saudi Arabia or KSA lets you visit the country for business activities like the meeting and market research. While a work visa allows you to get employed in the country. It provides legal employment in the Kingdom of Saudi Arabia. Duration of the VisitBusiness visa is granted for a shorter duration ranging from a few days to months. However extensions are available. A work visa is granted for a longer duration, say one year or more and can be renewed from time to time depending upon the type of work visa. Application ProcessThe application process for a business visa in Saudi Arabia is straight and simple and requires only fewer documents when compared to a work visa. A business visa can be applied through embassies or consulates of Saudi Arabia. The application process for obtaining a work visa in the Kingdom of Saudi Arabia is complex and the employer must start the visa application process by obtaining an Iqama - work permit from the Ministry of Labor and Social Development. Eligibility CriteriaInorder to apply for a business visa in Saudi Arabia, you have to get invitation from the business operating in the country, and have to submit proof of business activities, and sometimes a letter from the employer of the applicant. Also the financial stability has to be demonstrated. A work visa requires a job offer from an employer in Saudi Arabia and they have to act as sponsors. The applicant must have certain qualifications and might need to submit proof of educational qualification. SponsorshipInorder to apply for... --- > The Saudi Central Bank (SAMA) reported expatriate remittances from Saudi Arabia grew by 10% in August 2024, reaching a total of SR11.86 billion ($3.16 billion). - Published: 2024-10-11 - Modified: 2024-10-20 - URL: https://analytix.sa/saudi-expat-remittances-grew-10-totaling-3-16-bn/ - Categories: Daily News RIYADH: The Saudi Central Bank (SAMA) reported expatriate remittances from Saudi Arabia grew by 10% in August 2024, reaching a total of SR11. 86 billion ($3. 16 billion). Also, the remittances from Saudi nationals increased by 19% at SR5. 83 billion. Saudi Arabia is a main source of global remittances, being the primary source of financial well-being for lots of households around the world, as more than 75% of its labour are foreigners. Saudi Arabia’s open financial system with no limits on converting or transferring funds, enables smooth flow of remittances. The Wage Protection system supports this framework which makes sure expatriates get their wages through Saudi bank accounts, protecting their rights and facilitating them to send money easily to their homes. Digital platforms have also helped in the growth of remittance, making easy access to money through smartphones and internet. Remittance has become more efficient as these platforms provide better exchange rates, lower fees and faster processing times. Mobile apps and digital wallets are being developed by financial institutions and fintech companies making it easier for users. A secure and competitive environment has been made possible for digital remittance services thanks to the supportive regulations and regional authorities of Saudi, to protect the interest of the users. With so much reliance on global remittances, Saudi Arabia, through its digital advancements and policies is making its mark on the cross-border financial support. --- > Saudi Arabia to allocate $200B in contracts to Pakistan, strengthening trade and boosting Pakistan's economy amid financial struggles. - Published: 2024-10-11 - Modified: 2024-10-20 - URL: https://analytix.sa/saudi-arabia-offers-a-share-of-200-bn-to-pakistan-in-annual-construction-projects/ - Categories: Daily News RIYADH: Saudi Arabia’s Investment Minister, Khalid Al-Falih said he plans to allocate a part of the country’s $ 200 billion annual construction and material procurement contracts to Pakistan. During his visit to Islamabad, he revealed the news of finalising $ 2 billion in business deals. Saudi Arabia is at the forefront of becoming the world’s largest construction market, with investments paving the way to diversifying the economy. The Kingdom’s construction output is set to rise to $ 181. 5 billion 2028, a 30% jump from 2023, according to a report from Knight Frank. The country will be awarding $ 1. 8 billion worth of contracts in the coming years, Al-Falih stated. Contracts are predicted to go up from $ 180 billion to $ 200 billion annually, for this year alone. A primary portion of these contract will consist of imports for which Pakistan will be the preferred partner. Pakistan, currently facing an economic crisis and low foreign exchange rates, is looking to strengthen its trade and investment ties with Saudi Arabia. Both countries have recently enhanced their cooperation with Saudi Arabia committing a $ 5 billion investment package for Pakistan. Al-Falih will be signing 25 agreements covering investments in Pakistan’s construction, mining, agriculture and technology sectors, during this visit. Al-Falih, accompanied by 130 member delegation, will meet Pakistan’s officials and business leaders to explore further collaboration. A $ 7 billion International Monetary Fund (IMF) bailout for Pakistan also cleared the way for this visit, that requires the country to implement reforms for economic stability. The IMF urged the need to continue international support to provide for Pakistan’s structural challenges. --- > Discover Saudi Arabia's latest tech, tourism, SME, and mining updates, including $24.5B tourist spending and new startup initiatives. - Published: 2024-10-07 - Modified: 2024-10-21 - URL: https://analytix.sa/saudi-insights-riyadh-forum-set-to-boost-smes-and-startups-in-saudi-arabia/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 30th September to 07th October 2024 New Tech Initiative unveiled to support Startups and drive digital growth RIYADH: The Tech Talent Hub initiative was launched by Saudi Arabia’s Ministry of Communications and Information Technology to boost startups and the digital economy in the kingdom. Launched in collaboration with recruitment and human resource companies, the initiative will help technology startups and skilled digital professionals. The main aim is to speed up the growth of tech startups by giving them advanced human resource services to assist these companies to realize their full potential. This effort is in line with Vision 2030 which aims to create a sustainable and thriving future by developing the digital sector and economy. The initiative will offer HR services like recruitment, hiring, outsourcing, HR systems, consulting and skills assessments. It aims to help the tech companies and professionals to improve their capability. Through this collaboration between the ministry and HR companies, tech businesses and professionals will be able to access valuable resources and thereby further develop the digital economy. Tourists’ spending surpasses $ 24 bn in the first half of 2024 RIYADH: In the first half of 2024, foreign tourists in Saudi Arabia spent more than $ 24. 5 bn (SR 92. 6 bn), 8. 2% more than that compared to the same period of the last year. This increase led to surplus in the travel account estimated to be at SR 41. 6 bn, the Saudi Press Agency said. Improvements in Saudi Arabia’s tourism sector have resulted in the increase in tourist spending. The UN World Tourism Organization reported that in the first seven months of 2024, an increase of 67% in the number of international tourists and 75% in tourism revenue as compared to 2019 resulting in the kingdom ranking first among G20 countries. These achievements were achieved due to the continued efforts by the Saudi Tourism system which targeted on applying the best practices, improving services and products and cooperation of government bodies. The primary reason for this progress is the Ministry of Tourism working under the National Tourism Strategy to help boost the tourism sector and contribute to the country’s economic growth. Riyadh Forum set to boost SMEs and Startups in Saudi Arabia RIYADH: Saudi Arabia’s Small and Medium Enterprises General Authority (Monsha’at) organised the Biban 24 forum which will be held in Riyadh from November 5 to 9 2024 under the theme ‘Global Destination for Opportunities’. The event is an effort to encourage entrepreneurship, boost startups and improve competitiveness. The event will bring over 250 speakers and 1,350 exhibitors including local and international entrepreneurs. The forum aims to discover investment opportunities in the public as well as private sector, introduce innovative strategies that are in line with Vision 2030 which highlights the contribution of SMEs to economic growth. According to Monsha’at's Governor Sami Al Husseini, the forum... --- > Saudi Arabia plans to invest $1 trillion in its non-oil economy, which really seems to be shifting this nation from oil-based income model. - Published: 2024-10-05 - Modified: 2024-10-05 - URL: https://analytix.sa/saudi-to-make-huge-investment-in-non-oil-economy/ - Categories: Articles As a part of the ambitious Vision 2030, Saudi Arabia plans to invest $1 trillion in its non-oil economy, which really seems to be shifting this nation from oil-based income model. This development plan is expected to usher in a new era of the economic structure of the Kingdom and will open up vast opportunities for foreign investors in sectors like renewable energy, mining, transportation & logistics and technology. The focus is to speak for the growth of other sectors and build a more sustainable economic environment, so that the economy will not solely depend on oil. This initiative also provides numerous opportunities for business setup in Saudi Arabia as different sectors evolve in the kingdom with state support and investment. The kingdom’s plan to spend on non-oil sectors is part of what analysts have labeled a “capex super-cycle” according to which non-oil sectors will account for 73% of the total spending. However, from a recent report by the Goldman Sachs, this large amount of capital expenditure is a deliberate move fuelled both by global trends and internal structural changes for in the Kingdom of Saudi Arabia. Certain industries have been named as probable causes of this capex super-cycle. A few of the identified industries are clean energy, mining and transportation and logistics. The investments are geared towards creating the Kingdom of Saudi Arabia as a center of those industries given that potential investors making business entry into the kingdom are offered numerous incentives for business setup in Saudi Arabia. Out of the sectors, clean energy is likely to benefit most from the Saudi Arabian new investment strategy. The Kingdom wants to spend an astonishing $235 billion on this sector by 2030, which is up from an initial estimate of $148 billion. The upturn signifies Saudi Arabia’s determination to ramp up energy sobriety goals which have shifted from 58. 7 GW to 100-130 GW of clean power generation capacity by 2030. This capital increase will go directly to the capitalization of solar and wind energy projects. By mid-2024, it has about 11GW of solar photovoltaic in pipeline and another 16. 7GW of solar and wind power under development plans. As mentioned in the previous sections, these actions are being taken with a view to fulfilling the Saudi Arabian domestic energy requirements as well as showcasing the country as a major international renewable energy player. This sector is suitable and prospective to companies who are looking forward to business setup in Saudi Arabia as the country emerges as a global renewable energy hub. Another sector for which the Kingdom has big investment plans is mining. Unexplored mineral wealth remains a key feature of Saudi Arabia and the government is actually eager to exploit this potential. Thirty plus mining exploration licenses are likely to be awarded in the year, encompassing a huge $182 billion in mineral exploration incentive program. Saudi Arabia is trying to bring mining industry as one of the key pillars of its diversification strategy. The Kingdom also seeks to... --- > We have prepared the top 20 FAQs relating to investment law in Saudi Arabia & the answers which can help you understand the law better - Published: 2024-10-05 - Modified: 2024-10-05 - URL: https://analytix.sa/faqs-on-investment-law-in-saudi-arabia/ - Categories: Articles Investment law in Saudi Arabia plays a major role in the projection of Saudi Arabia as a global hub for investment and business activities. It aims to create an investment-friendly environment in the country by simplifying licensing procedures, tax incentives and protection against expropriation. Curious to know more about investment law in Saudi Arabia? Refer to the frequently asked questions on investment law in Saudi Arabia given below. These questions are answered by our experts which can help you understand the law better and ease your investment procedure in the country. So let's dive in! 1. What is Investment Law in Saudi Arabia? The investment law in Saudi Arabia is a law that is aimed to create an investor-friendly environment and it is the law that governs both the domestic and foreign investments in the country. The investment law eases the process of investment in the country and provides legal protection to both foreigners and nationals alike to encourage business activities in the Kingdom. It covers various types of investments in the country, like fully foreign-owned ventures, joint ventures, and partnerships. As a law governing investments in the country, it also takes care of incentives like ease of doing business, tax exemptions, and access to industrial zones. The main aim of the investment law in the Kingdom of Saudi Arabia is to promote economic diversification and ensure equal treatment to all of its investors and contribute towards the broader development objectives of the country especially of those outlined in Vision 2030 initiatives. 2. What are the main objectives of Saudi Arabia’s Investment Law? The main aim of the Investment Law in Saudi Arabia is the attraction of foreign direct investment and to boost the economic diversification of the country. The key objectives of the law include promotion of investments in non oil sectors like healthcare, technology, manufacturing, etc. and provide unhindered support to achieve the objectives of Vision 2030. It also aims to provide a transparent, investor-friendly framework which protects foreign investments in the country and fosters innovation and development and boost job opportunities in the Kingdom. In addition to all these, the Investment Law in the country also works towards the improvement of the business atmosphere in the Kingdom and boosts the economic sustainability of the Kingdom by encouraging investments in the country. 3. Who is responsible for regulating foreign investments in Saudi Arabia? The main regulatory body responsible for the regulation of foreign investments in the country is The Ministry of Investment of Saudi Arabia (MISA). Previously known as the Saudi Arabian General Investment Authority (SAGIA), Ministry of Investment of Saudi Arabia (MISA) helps with the registration, license procurement, and functioning of international businesses within the Kingdom. It also acts as the key liaison between international investors and the government of Saudi Arabia, offering prompt advice, support, and insights about the on market opportunities and incentives in the Kingdom. MISA also ensures that the investments in the country are in alignment with the economic diversification effort of the... --- > This blog includes how to set up cloud kitchen in Saudi Arabia and how it will benefit the Saudi food sector. - Published: 2024-10-05 - Modified: 2024-10-12 - URL: https://analytix.sa/set-up-cloud-kitchen-in-saudi-arabia/ - Categories: Articles Cloud kitchens, popularly known as dark kitchens, delivery only restaurants, virtual restaurants, or ghost kitchens, are revolutionising the restaurant industry as it is opening up new opportunities for restaurant operators. Cloud kitchen, a popular concept in the landscapes of India and Singapore, is now spreading to other parts of the world and is gaining popularity in Saudi Arabia as well. Due to the extensive growth of online food delivery services, many businesses launched delivery apps which ease the process of doorstep delivery, connecting fast food chains, restaurants, cafes, etc. Many Saudi restaurants are now connected via one or more delivery platforms and this provides a platform for the Saudi restaurants to enter the revolutionary concept of cloud kitchen in Saudi Arabia. The emergence of cloud kitchens is transforming the food industry sector in Saudi Arabia. It goes in alignment with the digital transformation plan of Saudi Arabia. Thus offering numerous opportunities for the new businesses entering the country. Cloud kitchen business in Saudi Arabia opens new doors of business setup in the kingdom of Saudi Arabia, thus adding to the existing business options for foreigners in the country. The cloud kitchen business in Saudi Arabia benefits the economic transformation of the country and helps it to explore technological, economic and consumer trends prevalent in the industry which is taking the industry forward, opening its potential to reshape the culinary landscape of the Kingdom. Curious to know more about the cloud kitchen business in Saudi Arabia and how it will benefit the Saudi food sector? Read the blog to know moreSo let’s get started! What is a Cloud Kitchen? Cloud kitchen is a virtual restaurant that doesn't offer dine in option and operates from a commercial kitchen which is designed exclusively for the preparation of meals for delivery or takeaway. These types of virtual restaurants offer a cost effective way to grow the food business or launch a virtual brand. It provides a platform to try out new opportunities in the businesses, experiment with new concepts, enter new markets, etc. It provides a testing ground for restaurants to make use of their staff and give a platform for their innovations. There are different models of cloud kitchens businesses in Saudi Arabia, catering to various goals and operational needs. Shared Space Model: Shared space model is a cost effective way of running online food delivery services in Saudi Arabia, by preparing dine at home meals in a kitchen owned by another party. Here the restaurant operators use their own staff and ingredients to prepare the food. It reduces the cost of running a traditional restaurant as it gives the restaurant operators the privilege to share the kitchen space with other businesses. Dedicated Space Model: In the dedicated space model, the restaurant operator opts to rent or buy a kitchen which would be used exclusively for their own purpose, rather than sharing it with other brands. This gives the restaurant brand the privilege to explore various concepts in one location without the influence... --- > The Riyadh Global Cybersecurity Forum stresses the importance of global cooperation to tackle rising cybercrime and secure digital futures. - Published: 2024-10-04 - Modified: 2024-10-21 - URL: https://analytix.sa/global-cybersecurity-forum-calls-for-collective-efforts-to-protect-digital-future/ - Categories: Daily News RIYADH: The Global Cybersecurity Forum in Riyadh focused on how global collaboration is important to secure the digital future. Saudi Information Technology Co. 's CEO Saad Al-Aboodi said that the global systems being interconnected and the shift of physical assets to digital ones, raises the significance of cybersecurity for modern societies. He highlighted importance of knowing cybersecurity economics and facilitating responsible technologies. Al-Aboodi pointed out that even though the global cybersecurity market is estimated at $ 180 billion in 2024, cost of cybercrime is expected to reach $ 9. 5 trillion by the year-end. He also noted the increasing relationship between physical and cyber warfare has led to an increase in both protection and attack costs. Another focus was Artificial Intelligence (AI) which Al-Aboodi described as embedded technology that has a broad impact. He highlighted safeguarding cyberspace requires collective action by governments, industries and individuals. Malaysia’s National Cyber Security Agency’s CEO Megat Zuhairy, reinforced the need for trust and healthy cybersecurity environment for investments. CEO of AhnLab, Suk-Kyoon Kang stressed that AI helps strengthen the efficiency of cybersecurity and Miguel Angel Canada from Spain’s National Cybersecurity Institute said that cybersecurity is also a business opportunity and should be better connected to research and market applications.   Cisco Systems’s Timothy Sherman pointed out the importance of universal cybersecurity, saying that it should be a fundamental right for everyone. The 2 day forum let industry leaders to come together and call for unified global actions against increasing cyber threats. --- > Moody's reports Saudi Arabia's non-oil GDP will grow 5 by 2027, supported by Vision 2030. Risks from oil prices remain, but PIF offers stability. - Published: 2024-10-04 - Modified: 2024-10-21 - URL: https://analytix.sa/moody-predicts-5-5-surge-in-saudi-arabias-non-oil-gdp-from-2025-to-2027/ - Categories: Daily News RIYADH: According to a report submitted by Moody’s, Saudi Arabia’s non-oil GDP is expected to grow between 5%-5. 5% from 2025 to 2027, a rise from 4. 6% recorded in 2022-2023. The growth is in line with the objectives of Vision 2030 which wants to diversify the economy by focusing more on non-oil revenue and reducing dependence on oil revenue. This economic shift will be supported by government spending, which is expected to remain high, between 30-32% of GDP, through 2025-2027. The non-oil growth seems to be promising, however, there are risks of fluctuations in oil prices and production, according to Moody’s. These risks could disturb the balance between funding diversification projects and good fiscal health. Yet, Saudi Arabia’s Public Investment Fund is seen as a balancing force that could spare some of the economic damage from lower oil prices. PIF’s role and strong private sector activity will provide diversification. Saudi Arabia’s emphasis on capital expenditure will reduce its exposure to the global change from carbon based energy resources. A related analysis by S&P Global predicted Saudi Arabia’s overall GDP growth will be 1. 4% in 2024 and a rise to 5. 3% in 2025, due to the efforts put in to diversify the economy and a stronger non-oil private sector. The report also stated that the US Federal Reserve rate cuts would also increase capital flowing into emerging countries like Saudi Arabia as it would draw in more capital. --- > Over 60 investors pledge $3 billion to King Salman Energy Park, aiming to establish a global energy hub and enhance economic growth. - Published: 2024-10-01 - Modified: 2024-10-21 - URL: https://analytix.sa/spark-attracts-3-bn-investment-from-over-60-investors/ - Categories: Daily News RIYADH: More than 60 investors have come forward to invest over $3 billion in Saudi Arabia’s King Salman Energy Park. In 2018, Crown Prince Mohammed bin Salman established SPARK as a fully integrated industrial ecosystem in the eastern province. It stands as a hub for the energy sector delivering solutions to companies across Saudi Arabia. SPARK’s objective is to transform into a global center for energy, industry and technology with nearly 300 industrial and service facilities. There are seven active factories along with 14 more planned factories under development. In 2020, SPARK became the first city to receive Leadership in Energy and Environment Design (LEED) Silver Certification and has pledged to focus on clean and sustainable resource production. Saudi Aramco and Saudi Authority for Industrial Cities and Technology Zones are handling the development, operation and management of SPARK’s infrastructure. The project spans over 50 square kilometers and will progress in three phases. The project lies midway between Dammam and Al-Ahsa. During the inauguration, Saudi Investment Minister Al-Falih declared that SPARK would be a special economic zone providing its tenants with regulatory and fiscal support. He pointed out the vital role SPARK plays in Saudi Arabia’s energy resources and generating jobs to be in sync with Vision 2030 to improve nation’s economic growth and influence on global energy market. In 2022, SPARK teamed up with Abdullah M. Bin Saedan and Sons Real Estate Group to create a $ 150 million residential complex and workers’ village with 30,000 square kilometers scheduled to be completed by 2025. --- > Saudi Arabia boosts industrial ties with the US, invests in tourism, launches Qiddiya Dragon Ball park, and showcases AI at the UN. - Published: 2024-09-30 - Modified: 2024-10-21 - URL: https://analytix.sa/saudi-insights-qiddiya-dragon-ball-theme-park-project-awarded-to-us-firm/ - Categories: Daily News Saudi Minister visits US to strengthen industrial ties RIYADH: Minister of Industry and Mineral Resources of Saudi Arabia, Bandar Alkhorayef, is visiting the United States with the aim to boost cooperation in industry and mining, attract investment and explore opportunities in aviation and space. He will visit New York, California and Nevada, ending his visit on September 28; he will attend scheduled meetings with the US government officials as well as business leaders. The minister will hold talks on knowledge transfer, innovation and advanced manufacturing technologies with important shareholders. His main aim of the visit is attending the UN Industrial Development Organization (UNIDO) event in New York, where he will work to garner support for the 21st UNIDO General Conference to occur in Riyadh in 2025 and the upcoming Multilateral Industrial Policy Forum in October. He plans to stop by New York Stock Exchange, Columbia University and MINExpo in Las Vegas to have a discussion with the officials of leading mining companies to discuss and explore advanced technologies in the field. In Los Angeles, Alkhorayef will hold roundtable meeting with major U. S. firms to emphasize sectors of interest under Saudi Arabia's National Industrial Strategy and discuss about incentives for foreign investors. The minister will visit advanced industrial companies, like JetZero and SpaceX, as part of the efforts to explore opportunities for collaboration with leading industries. He will also meet Saudi students that are in the US for higher education. Take part in these discussions, the Ministry of Industry and Mineral Resources will, while supporting the strengthening of Industrial relationships between the two nations. Saudi Arabia invests millions to grow tourism and generate jobs RIYADH: Saudi Arabia is making heavy investments for boosting the tourism sector and creating jobs, especially for young people and women. Tourism Minister Ahmed Al-Khateeb talked about this project, pointing out negative consequences of COVID-19 pandemic on jobs in the sector, particularly affecting women and young people. As a part of Vision 2030, Saudi Arabia is putting efforts to make tourism a key drive for social change. For 2024, a significant amount of funding has been set aside, including $100 million towards skill development and training at multiple levels of workforce. This involves specialised programs for local guides to gain more knowledge of the country’s history and natural wonders, and more than 50,000 training opportunities targeted for women. Al-Khateeb pointed out that currently 42% of the domestic tourism sector is female, including occupying 22% of leadership roles and 46% in other roles. However, pandemic caused a major drop in the employment figures, with 48. 4 million women and around 19 million young people employed in 2019, which cut down to 42 million and 16. 1 million respectively, in 2022. President of World Travel & Tourism Council (WTTC) Julia Simpson, highlighted the role of tourism for inclusive growth and demanded the need to help with the issues faced by women and young people. By supporting skill training, promoting inclusive policies and encouraging entrepreneurship, the sector will be... --- > This blog includes the importance of GRO and PRO services in Saudi Arabia and how it helps the foreign businesses entering the country. - Published: 2024-09-26 - Modified: 2024-09-30 - URL: https://analytix.sa/importance-of-gro-and-pro-services-in-saudi-arabia/ - Categories: Articles Business expansion to foreign countries can be both exciting and challenging. The most challenging process evolved would be to navigate the complex regulatory environment of the chosen country. And here comes the role of Public Relations Officer (PRO) and Government Relations Officer (GRO) services as they provide timely and valuable support to foreign businesses entering the country by managing their crucial administrative tasks. GRO and PRO services help the new business entering the country ease their interactions with the government, and aid in the legal documentation involved. Processing of visas and trade licenses, and compliance with local laws are also taken by Public Relations Officers and Government Relation Officers. So by easing these processes, Public Relation Officers and Government Relations Officer Services help the businesses to save time, ensure smooth operations and help them reduce the risk of costly delays in the process, thus aiding the businesses to focus on their business growth and expansion. So seeking help from professional GRO and PRO services is crucial for any businesses entering the vibrant market of Saudi Arabia. Read our blog on the importance of GRO and PRO services in Saudi Arabia and how it helps the foreign businesses entering the country and get a comprehensive idea on their role in the business sphere of the Kingdom. So let's get started! How Does GRO and PRO Service Providers Help in Accelerating Saudi Business Growth No matter if you are an established company or a new business in Saudi Arabia, seeking help from GRO services and PRO services in Saudi Arabia can help you in several ways including the cost cutting up to 50 percent of GRO and PRO expenses. 1. Ease Of Operations By outsourcing GRO and PRO services in Saudi Arabia, businesses operating in the Kingdom of Saudi Arabia can better streamline their administrative tasks involved. This also helps them timely check whether their business operations are executed well so that the company can move towards success by propelling the company towards profitability, top market positioning and enhanced business growth. 2. Help to be Complaint Towards Saudi Laws and Regulations You can be complaint towards the local regulatory environment and industry-wide regulations by hiring GRO and PRO experts. They with their experience in the field help you reduce the risk of non compliance and aid you receive benefits and incentives of government schemes, like platinum Nitaqat rating if 40% of your company’s workforce is Saudi nationals. 3. Help in Saudi Market Expansion Businesses can concentrate more on their corporate tasks, increase their business expansions, utilise the business potential of the kingdom and work on strategic initiatives when the administrative tasks are dealt by GRO and PRO service providers. Government Relations Officers and Public Relations Officers with their right support, strategy and initiatives, helps the companies to effectively expand their businesses and be compliant towards the local rules and regulations, thus helping the country to have a global business expansion. How Partnering With a Local PRO and GRO Service Providers Benefit You... --- > In this blog post, let’s look in detail MoA and AoA requirements in Saudi Arabia and why they are crucial for the incorporation of foreign business - Published: 2024-09-25 - Modified: 2024-09-25 - URL: https://analytix.sa/moa-and-aoa-requirements-in-saudi-arabia/ - Categories: Articles The business environment of Saudi Arabia is getting evolved and it is on its path towards becoming a global hub for business activities. So understanding the laws and regulations regarding company formation is essential for businesses and investors alike. Two documents that play an important role in the business incorporation process in Saudi Arabia are the Memorandum of Association (MoA) and the Articles of Association (AoA). As the kingdom is on its path to become a global destination for business expansion, Memorandum of Association and Articles of Association plays a significant role in shaping the scope and future of international business in Saudi Arabia. And these documents play a pivotal role to outline the fundamental structure and operational guidelines of the business and also ensure the business’s compliance with the rules and regulations of Saudi Arabia. While the Memorandum of Association is used to describe the relationship between the company and external parties, the Articles of Association is used to define the internal relationship of the company with its shareholders. Also the Memorandum of Association helps to describe the overall objectives and powers of the company thus the structures and clauses included in the document should be strictly adhered to. On the other side, the Articles of Association helps to outline the internal regulations and procedures of the company, but it can be amended or reviewed later as and when required. So any changes in the structure, corporate activities and ownership of the company should be reflected correctly in the Memorandum of Association and Articles of Association. These documents are crucial to outline the constitution of the company, overall structure and main objectives and internal regulations upon which it is governed. In this blog post, let's look in detail why MOA and AOA are crucial for the incorporation of foreign business into the Kingdom of Saudi Arabia and what all a foreign company should include in drafting a Memorandum of Association and Articles of Association. We’ll also explore the significance of AOA and MOA and how they differ from each other. Let's also look in detail how it is crucial for a business expansion to Saudi Arabia. No matter if you are just entering into the Saudi business market or planning to navigate the complex business market of Saudi Arabia, this blog will help you get greater insights on MOA and AOA and help you establish your business in Saudi Arabia without any hurdles. So let’s get started! Why is MOA and AOA Crucial for Foreign Business Growth in Saudi Arabia? MOA and AOA plays a significant role in the business expansion in Saudi Arabia and maintaining an updated Memorandum of Association (MOA) and Article of Association (AOA) is crucial for successful business incorporation in the country. A detailed Memorandum of Association and Article of Association helps the international businesses to get a clear roadmap to navigate the dynamic business market of Saudi Arabia. A regular review and amendment is required for these documents to mitigate the risks timely, express... --- > Cement sales in Saudi Arabia in Q2 2024 went up to 10.85 million tonnes, with 95% sold domestically while the 5% exported. - Published: 2024-09-25 - Modified: 2024-10-21 - URL: https://analytix.sa/saudi-cement-sales-up-by-2-reaching-10-85-m-tonnes/ - Categories: Daily News RIYADH: Cement sales in Saudi Arabia in Q2 2024 went up to 10. 85 million tonnes, with 95% sold domestically while the 5% exported. Al-Yamama Cement held 12% market share while Qassim Cement took the second position with 10% market share. The cement market value reached $ 1. 07 billion in 2023 with an average growth of 6. 10% through 2029, due to the infrastructure projects linked to Vision 2030. Riyadh Metro, NEOM, Qiddiya and various such large projects are driving this demand. Umm Al-Qura recorded the most impressive growth with an increase of 68% in sales. Saudi Cement were the highest with 79% of the total exports, even though the export volumes decreased. Riyadh market remains as the key market due to the increasing rate of urbanization and being a financial hub. New Technological trends such as Industry 4. 0 and green cement are revolutionizing the industry. Companies are utilizing smart factory solutions to enhance efficiency as well as adopting the utilization of sustainable production techniques, with an aim to minimize carbon emission. The French firm Hoffmann Green Cement is developing its first low-carbon cement manufacturing plant in Saudi Arabia, in partnership with Shurfah Group. The NEOM project with initiatives such as Jaumur Community and Luxury Resorts are still under construction, driving more demand for cement. However, challenges in the cement industry are emerging such as regulatory measures involving environmental issues and excessive cement production. Overcapacity combined with price volatility affects overall profitability, particularly during economic downturns. In order to lessen these challenges, companies should practice sustainable ways, invest in pollution control and keep production in line with the demand. Long-term growth heavily depends on proper risk management and collaboration between key players in the industry. --- > Ajman’s exports to Saudi Arabia rose by 29% in 2023, totalling 859.8 million dirhams ($ 234 million) - Published: 2024-09-25 - Modified: 2024-10-21 - URL: https://analytix.sa/ajmans-exports-to-saudi-arabia-increase-by-29/ - Categories: Daily News RIYADH: Ajman’s exports to Saudi Arabia rose by 29% in 2023, totalling 859. 8 million dirhams ($ 234 million), with Saudi Arabia being the leading export destination, with 14% of the total export value. In the first half of 2024, exports totaling 397. 6 million dirhams, this strengthens commercial relations and economic relationships among the two regions. The trade volume between the UAE and Saudi Arabia hit $ 17. 53 billion during the first half of 2024, a 22. 5% rise compared to the same period in 2023. The Director General of the Ajman Chamber of Commerce and Industry, Salem Al-Suwaidi mentioned that growth is steered by shared visions, important initiatives and foreign investment surge between two countries. By September 2024, 685 Saudi investors were operating in Ajman across a variety of sectors, an increase of 13% compared to last year. During the first half of 2024, new licenses for Saudi investors in Ajman recorded a 114% growth. The focus of Saudi investors’ investment is on construction, contracting, hospitality, retail and real estate. The Ajman Government has laid out a system that encourages businesses and provides them with access to supportive legislative fireworks and incentives. The electronic services portal has made a difference for Saudi investors with its contribution to make starting and expanding their business simpler. Ajman's and Saudi Arabia's rising economic partnerships and mutual benefits are clearly demonstrated by the robust trade and investment activity between the two countries. --- > Saudi Arabia has recently reported a tremendous growth in the tourism spending, which is giving a new face lift to Saudi Arabia on the map of International tourism. - Published: 2024-09-24 - Modified: 2024-09-25 - URL: https://analytix.sa/saudi-arabia-witnesses-huge-rise-in-tourist-spending/ - Categories: Articles Saudi Arabia has recently reported a tremendous growth in the tourism spending, which is giving a new face lift to Saudi Arabia on the map of International tourism. This is mainly due to the Kingdom’s Vision 2030 plan that is seeking to diversification of economy and reducing oil dependency by targeting sectors such as travel and tourism. This has led to increased development of tourism infrastructure, most of which are targeted at the international tourists, and domestic tourists within the country. Without doubt, one of the most significant shifts to this effect has been the new tourist visa regime that enables citizens from 49 countries to visit Saudi Arabia for up to 90 days. This change has ensured that people visiting the Kingdom can easily explore the cultural, historical and natural sites across the kingdom and thereby boosting the travel as well as tourism expenditures of the country. Recent years a vast number of archaeological sites which were previously closed to the public can be found throughout Saudi Arabia. Today, due to the efforts towards the promotion of Package Tourism, areas that include AlUla, Diriyah, and the Mada’in Saleh which is recognized globally as a UNESCO World heritage site are now accessible to the tourist so that they could get a closer look to the glorious past of the nation. The opening of these historical places has drawn not only history enthusiasts but also the international tourists thus boosting the income from tourism sector independently. In addition to historical sites, Saudi Arabia has become a hub for major global events. High-profile events such as the Formula 1 Saudi Arabian Grand Prix, Dakar Rally, and the Red Sea International Film Festival have drawn massive international audiences. These events, combined with the ambitious Riyadh Season, have sparked a surge in hotel bookings, restaurant patronage, and retail spending, all contributing to the rapid growth in tourist expenditure. Apart from the events, the country is building some of the best envisioned tourism initiatives the world has witnessed. Of the current projects, the NEOM project through development of a futuristic mega-city, the Qiddiya entertainment city and the Red Sea Project focusing on luxury tourism and environmental sustainability are receiving much attention. Such changes are expected to place Saudi Arabia in the limelight, and recognized as a country of luxury and adventure travel which will in turn increase tourist expenditure. The Saudi government has also not remained oblivious of the need to encourage the right business climate for tourism entrepreneurs in the kingdom. Saudi Arabia also has the income tax exempt on some incomes, VAT free on tourism services and land grant on tourism projects making the market attractive to companies in the travel and tourism industries. This has not only resulted into establishment of new business but has also boosted employment of locals and economic growth in the sector. The government and private organizations such as the Saudi Tourism Authority and the Tourism Development Fund have been offering funding, training and marketing for the growth... --- > Saudi Arabia celebrates National Day with fireworks, highlights female entrepreneurship, launches AI training, and sees a surge in tourism - Published: 2024-09-23 - Modified: 2024-10-20 - URL: https://analytix.sa/saudi-insights-fireworks-lit-up-saudi-skies-in-honour-of-94th-national-day/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 15th September to 22nd September 2024 Saudi Arabia’s 94th National Day celebrated with breathtaking fireworks show RIYADH: The 94th National Day of Saudi Arabia is being celebrated with firework displays, organised by the General Entertainment Authority (GEA). The event will happen in various regions throughout the kingdom lighting up the sky with fireworks. Riyadh will have the fireworks show at Umm Ajlan Park, starting at 9 pm and lasting for seven minutes. In Jeddah, residents can enjoy the show at Jeddah Promenade and in Al-Khobar the fireworks can be seen from the northern Khobar Corniche. Other cities such as Buraidah, Tabuk, Abha, Najran, Hail, Madinah, Arar, Al-Baha, Al-Jouf and Jazan are putting the firework show at specific locations to celebrate. The Saudia Channel and Saudia Alaan will broadcast streaming footage of the fireworks from various Saudi cities. Leading Female Entrepreneurs discuss growth and challenges in Saudi Arabia RIYADH: The "Empower Me" panel discussion, which the Atlantic Council Middle East Initiatives organized in Riyadh, focused on female entrepreneurship in Saudi Arabia. Notable speakers, such as Amal Dokhan, who is the managing partner at MENA 500 Global; Wafa Obaidat, founder and CEO of edtech company Playbook; as well as Afnan Ababtain, director of innovation and entrepreneurship at the Ministry of Investment, all took the stage. The session was moderated by Noor Nugali, acting deputy editor-in-chief of Arab News. The event showcased the Atlantic Council's Women Innovators Fellowship, a year-long program that promotes the business skills and relationships of Saudi female entrepreneurs. The cohort for 2024-25 includes 20 female leaders functioning in different areas like technology, healthcare, and climate sustainability. In a virtual address by US Ambassador to Saudi Arabia Michael Ratney praised the initiative and its supporters. The discussion focused on how female entrepreneurs support Saudi Arabia’s Vision 2030 and promoting economic growth particularly in small and medium enterprises (SMEs). Since 2016, women's involvement in SMEs have grown from 21% to over 45%. Dokhan motivated women to pursue entrepreneurship and to face the challenges by venture capital. Obaidat talked about her experiences with Playbook, an edtech platform established to foster women into leadership positions. Playbook rose to 6,000 members, boasting major diversity in leadership roles. The panel discussion was jointly led by the Atlantic Council, American Chamber of Commerce, US Embassy and PepsiCo. Saudi Arabia launches extensive AI Training Drive RIYADH: Saudi Arabia has put forth a major initiative to train one million of their citizens in artificial intelligence (AI) in order to prepare them for a future driven by AI technology. Announced at Global AI Summit (GAIN Summit 2024) in Riyadh, this programme is the largest of its type in the country. The initiative “One Million Saudi in AI” was launched by Minister of Education Yousef bin Abdullah Al-Benyan and Saudi Data and AI Authority (SDAIA) President Abdullah bin Sharaf Alghamdi. According to the Saudi... --- > In this blog, let’s explore the key factors and initiatives that are driving rapid development in Riyadh and how it will benefit both its residents and visitors alike. - Published: 2024-09-21 - Modified: 2024-11-30 - URL: https://analytix.sa/riyadh-to-be-among-top-15-fastest-growing-cities-by-2033/ - Categories: Articles According to Savills Growth Hubs Index, Riyadh ranks among the top 15 fastest growing cities by 2033, and it is the only non Asian city featured in the report and its potential is calculated to be 26% per cent population growth. Inclusion of Saudi's capital city in the report highlights the capability of the city towards development and business expansion as set out by the strategic Vision 2030. Also the young population of Saudi Arabia with 67% of its population under the age of 35 is a boon to the national development of the country. The infrastructural development and technological innovation is also redefining the economic atmosphere of the city. The employment potential of the country is also huge, as 67% of its population are below the age of 35 and this significantly contributes to the spending power of the population. Now let's look in detail, what are the economic factors that helped Riyadh to be considered as a top 15 fastest cities by 2033. In this blog, let’s explore the key factors and initiatives that are driving rapid development in Riyadh and how it will benefit both its residents and visitors alike. So join us and let's dive together to see what makes Riyadh a fastest growing city. Riyadh: A Promising Land for Corporates The remarkable boom in the interest of corporate companies towards the capital city of Saudi Arabia underscores the potential of the city towards national growth. With strategic plans of Saudi Arabia like Vision 2030, the country aims to increase the foreign investment in the country, and establishment of 180 company’s regional headquarters in the Kingdom, compared to its target of 160 is a proof of its economic excellence in global platforms. Surge in the Foreign Investment into Saudi Arabia Recently Saudi Arabia has witnessed an increased Foreign Direct Investment (FDI). According to the data shared by the government, there has been a 5. 6 percent increase in the net FDI inflows to SAR 9. 5 bn ($ 2. 53 bn) in the first quarter of 2024 compared to the previous year. 30 years of tax relief for regional headquarters, flourishing markets, promising opportunities are some of the factors that are attracting foreign companies to this Arab Kingdom. Real Estate Implications in Riyadh There has been a huge shift in growth from the west to east and this leaves great implications in the real estate market as well. Real estate market is experiencing a huge growth and the demand for offices, logistics space, manufacturing, homes are also on the rise. Rise of personal income and disposable wealth are also creating huge opportunities for developments in leisure and retail sectors. And these developments are going to leave a huge impact on the development of Riyadh city as well. Population Growth in Riyadh Riyadh is expected to see a 26% surge in population growth; from 5. 9 million to 9. 2 million in the coming decade, which is actually an asset for the development of the country. This... --- > Riyadh construction market has strongly tied its growth with the strategic Vision 2030 program, which has been designed to diversify the revenue for the country. - Published: 2024-09-19 - Modified: 2024-09-19 - URL: https://analytix.sa/riyadh-dominates-saudi-arabia-construction-market/ - Categories: Articles According to a new research, around 40% of the total value of existing construction contracts in Saudi Arabia accounts to Riyadh and nearer areas at a worth of US$ 54 billion. The provinces of Mecca, which encompasses Jeddah, and Tabuk in the north of the kingdom are next after the capital region with $28. $5 billion and $28. 5 billion in awarded contracts each respectively, real estate firm Knight Frank stated on Monday in its Construction Landscape Review – H1 2024. New residential construction was the largest segment by project value of 31 percent in 2023 at a worth of $43 billion, while the energy and utilities sectors consisted of 27 percent of total project value with $35 billion. Knight Frank estimated that the value of construction output in the kingdom will reach $181bn by the end of 2028, which, according to the consultancy, will help Saudi Arabia become the biggest construction market globally. Restrictions such as budget deficits, higher rates of interest, increased but still insufficient FDI which has led some analysts believe that the level of Saudi Arabia’s construction boom might have to be reduced in future. According to Knight Frank, Saudi Arabia is expected to grow to $181. 5 billion by the end of year 2028. The research found out that Riyadh alone has 40 percent of the existing contracts. Total value of developments is on $54 billion. Mecca and Tabuk follows the capital regionRiyadh is one of the key players in the construction industry in the kingdom which is growing at an alarming rate. Being at the heart of the Vision 2030 program designed to help transform the Saudi Arabian economy, Riyadh is at the forefront of the major construction projects to develop the infrastructure of the new Saudi Arabian cities. Today it contributes to almost 40% of total construction business of Saudi Arabia and new Billion dollar+ projects are changing the face of the skyline. Riyadh construction market has strongly tied its growth with the strategic Vision 2030 program, which has been designed to diversify the revenue for the country. This vision has included urban development as one of the key pillars hence has seen investment into infrastructure of the city. The Riyadh Metro, one of the largest undertakings in the world, is a classic illustration and proof of Riyadh’s determined efforts to take on the charge of updating its existing transportation management and increasing urban transport accessibility. Others are the King Abdullah Financial District, the various multi-home projects to cater for the increasing housing needs in the country. These projects not only improve the current infrastructure of the city but also make Riyadh as an international city for doing businesses and investments. Major international and local construction firms are therefore heavily involved in realization of these projects. Many firms are at the forefront with the likes of Bechtel, Parsons Corporation, and Nesma & Partners Contracting Co. securing contracts worth several billions. Not only they are participating in construction of physical facilities of the city,... --- > The issuance of the Regional Headquarters Tax Rules will unleash an attractive financial ecosystem to global businesses towards the Kingdom - Published: 2024-09-19 - Modified: 2024-09-19 - URL: https://analytix.sa/saudi-arabia-tax-rules-for-regional-headquarters/ - Categories: Articles The Kingdom of Saudi Arabia made an ambitious, bold and far reaching move to strengthen its position as a global business by offering a warm welcome to multi nationals companies to the kingdom with an exclusive RHQ (Regional Head Quarters) program. The initiative shows the commitment and dedication of the kingdom towards building a favorable business environment and support the country’s vision to diversify the economy beyond the oil dependency. Saudi Arabia has provided this pioneering framework that makes it well-positioned as a hub for regional headquarters of multi-nationals. The issuance of the Regional Headquarters Tax Rules will unleash an attractive financial ecosystem to global businesses towards the Kingdom. This is a big step in developing the tax practices and landscape in Saudi in line with the Saudi 2030 Vision, which enables Saudi Arabia to become a pioneering investment hub. The tax rules for the RHQ’s have now been published by ZATCA, effective immediately from the date of publishing. The Kingdom offers the tax relief of 30 years on the income qualified for attracting and retaining the leading corporations by ensuring that they receive unparalleled fiscal advantages. Moreover, the opportunity to get premium residency of Saudi Arabia becomes a complementary partner with the RHQ program by providing a great bundle of financial incentives and lifestyle perks. The combination of long term tax benefits and residency options stands a testimony of the support offered by the Saudi government for multinational corporate giants thereby by maintaining the position of the kingdom as one of the best destinations for business expansion in the Middle East. Everything You Need To Know About RHQ in Saudi Arabia In this regard, the Tax Rules for RHQ detail a number of key matters to the tax and investment community, which include the following amongst others:Important definitions related to RHQ. Tax Incentives. Duration and criteria for exemption. Economic substance rules for the RHQs. Compliance Requirements with respect to Tax. Fines and Penalties in Case of Breach. Rights of both ZATCA and the RHQ in case of tax audits and disputes. Important definitions related to RHQ The Rules state some key definitions with respect to the RHQs, these include the following among others:Regional Headquarters: The regional headquarters or a unit of a Multinational Group duly established under the laws of Saudi Arabia and all the concept of regional headquarters activities of international companies is applicable subject according to the National Classification of Economic Activities. Eligible Activities: The key activities of the Regional Headquarters with reference to enhancing the group’s presence in the region as well as exercising leadership and management support to the internal operations of the company, subsidiaries and any affiliated companies according to the National Classification of Economic Activities. Related Companies or Related Persons: shall have the same meaning as prescribed in the Transfer Pricing Bylaws. Tax Incentives: Mean the tax incentives and who some has been made available for Regional Headquarters in compliance with the provisions of the Royal Decree. Economic Substance Requirements: It is the... --- > Are you planning to start a mining business in Saudi Arabia? We can see that the demand for Saudi Mining License Rises Sharply. - Published: 2024-09-17 - Modified: 2024-09-17 - URL: https://analytix.sa/demand-for-saudi-mining-license-rises-sharply/ - Categories: Articles Saudi Arabia in recent years, have witnessed a surge in the demand for mining licenses, and this is a reflection of the country’s effort to diversify its economy from oil dependency. With the Saudi Vision 2030, which is the ambitious plan of Saudi Arabia, spearheaded by Crown Prince Mohammed bin Salman, the country has made mining as the strategic pillar of its economic growth. And this is creating opportunities for both foreign and national investors and businesses to explore and take advantage of the vast mineral resources spread across the Arabian Peninsula. Are you one among the many planning to start a mining business in Saudi Arabia? Confused about the future of business and how to obtain a mining license in Saudi Arabia? As per the report of SPA, citing the Ministry of Industry and Mineral Resources, implementation of new investment law in 2021, led to a surge in the issuance of a number of mining license in Saudi Arabia. And this liberation in law is a good news to all those dreaming to procure a mining license in the country. Though the main aim of this law is to boost the investment, and enhancement of the development and mineral production in the country, it also means a lot to the investors as well. The tremendous surge in the issuance of licenses from just 8 to 19 before and after the enactment of law in 2021, representing a growth of 138% is a proof that both the Kingdom of Saudi Arabia and investors are benefiting from the new law passed. The increase in the number of issuance of mining licenses is attributed to the country’s plan to enhance the mining sector of the Kingdom, and position Saudi Arabia as an ideal destination for global mining activities. This decision is also crucial for the exploration of SAR9. 4 trillion ($2. 5 trillion) worth of mineral wealth to its full potential. Passing of new Mining Investment Law has attracted and benefited both the local and foreign investors and has streamlined the entire process. And this has been crucial to the 241% increase of the amount of building material quarry licenses from 158 before the enactment of the law to 538 in 2023 and exploration licenses rose from 58 before the passing of the law to to 259 in 2023, which represents a growth rate of 347%. The crucial mining strategy initiatives like the Accelerated Exploration Program of the Kingdom has also been a crucial factor for the surge in the number of licenses issued, as these initiatives strategically reduced the processing time of the license and other necessary approvals, which was not the case earlier. The enactment of the law is also aimed to boost the investment and achieve the goals of Vision 2030 as fast as possible. Launch of the Mineral Exploration Incentives Package, which is valued at about $182 million, aims to boost the investment from both the domestic and international investors. One such investor who has benefited from this... --- > Saudi Arabia Sets Up a New Business Park in Riyadh known as Boulevard Business Park. - Published: 2024-09-17 - Modified: 2024-09-17 - URL: https://analytix.sa/saudi-arabia-sets-up-new-business-park-in-riyadh/ - Categories: Articles The Kingdom of Saudi Arabia has always shown a major interest in the development of its business environment and recently announced launching the significant initiative of a new business park in Riyadh to attract foreign investors and support the development of new job opportunities in the kingdom. The Boulevard Business Park, which contributes a new office area of 60000 sq. m to the Riyadh’s Boulevard district, is the object of the investment of over SAR 1 billion (around $266 million). This challenging endeavor is led by the General Entertainment Authority (GEA), which declared the project in its social media accounts. The Boulevard Business Park is an integration of Saudi Arabia’s developmental plan of diversifying its economy as encompassed by Vision 2030 which aims at reducing the economy’s dependence on oil and develop other sectors such as entertainment, technology and foreign investment. Riyadh currently has a financial district, a business area close to the airport and a technology city. But still the FDI is below the target of $100 billion per year set by the Kingdom of Saudi Arabia. To counter this, the government has put special incentives such as special zones, tax incentives, and simple bureaucratic procedures in order to encourage international companies that seek to set up their businesses in Saudi Arabia. Another characteristic that is typical for the park is the ‘‘live where you work and play’’ concept that is evident in many contemporary mixed-use new urbanism projects. The design forms a nine-office building complex with commercial outlets, co-working areas, and other facilities including an outdoor art display, fitness center, spa, and suspended swimming pool. Besides, there are over 1,300 parking lots in the business park and the plan for increasing accessibility between the developments is provided with green areas and sports tracks. This launch is the first stage of a master plan for the entire urban landscape regeneration in the Boulevard zone with the purpose of establishing the coherent connection between entertainments, business, and shopping facilities. At the head of the GEA, an organization that redevelops integrated industrial complexes, Turki bin Abdul Mohsen Al-AlShaikh stressed that it would increase home and foreign firms’ interaction. There is one characteristic that stands out about this development of this particular type, which is that is designed to encourage innovation and creativity. The first phase gives a creative business resort to global and national companies in arts and creativity fields. This places the park as a marketplace for global innovators to present their products and services in entertainments sector which is growing in KSA. The Boulevard Business Park also aims to create a favorable impact on the kingdom’s commercial real estate market while aiding the development of Saudi Arabia’s businesses. The estimates of the industry growth state that the worth of the industry will be $31. 35 billion by year 2028 at an annual growth rate of 8. 65%. This undertaking will also create many employment opportunities which will also be in line with the initiatives to increase national employment through... --- > In this blog, we will make you aware of the common causes of delay to set up a bank account, and the tips to overcome these delays. - Published: 2024-09-17 - Modified: 2024-09-17 - URL: https://analytix.sa/overcome-bank-account-setup-delays-in-saudi-arabia/ - Categories: Articles Establishing a business setup in Saudi Arabia, requires opening a bank account in the country. But setting up a bank account in the Kingdom is expected to be a tiresome task, as it can result in potential delays. Delays in the bank account setting up can disrupt your business plans and can lead to subsequent financial loss. No matter if you're a new resident, or business owner or an expatriate, the bank account setting up delays are common for every one and navigating the intricacies are crucial for all. In this blog, we will make you aware of the common causes of delay to set up a bank account, and the tips to overcome these delays. We will help you streamline the process of setting up a bank account by making you aware of the complex regulatory requirements involved, and how to prepare necessary documentation. Below are the mistakes to avoid when setting up a bank account in the country, to avoid subsequent delays. Before making important legal changes, such as changes in the parent company name, complete the banking processes. Inorder to avoid business disruptions, sign the account opening agreements timely. Inorder to avoid the complication of license expiration, keep your documents updated and submit them promptly. So let us break down the process of starting a bank account in Saudi Arabia and help you ensure that your banking setup is as efficient and stress-free as possible. Exploring the Reasons for Bank Account Setup Delays From a Bank’s Perspective and the Impact In Saudi Arabia, large companies are identified as high risk entities and the processing time for them would be large due to the complex accounts management. This sometimes might lead to a month’s delay from the legal team of the bank to share the online login information to the company and grant them the access for the management of the account. Sometimes banks will do the site visit to verify the address of the company and might ask for additional documents, leading to a prolonged period of approval of the bank account. But these delays in setting up a bank account can negatively affect the companies especially for the ones that have pending license applications or ongoing contracts. If a company is having numerous contracts and requires a Saudi bank account to receive the payment, these delays can significantly affect their business operations. Another reason for the delay in setting up a bank account is the technical issues. If a Saudi company faces a technical issue while setting up a bank account, it is very crucial to contact a business setup company in Saudi Arabia, like Analytix so that they will help you ease your processes of setting up a bank account. They, with their experienced professionals and years of expertise, will tackle the problem and help you solve the technical issues and subsequent delays in opening a bank account in the country. Expert Tips to Avoid Delays in Setting Up Bank Account in Saudi Arabia It... --- > Saudi Arabia grants double investment licenses to Egyptian firms, creating 80,000 jobs and strengthening economic ties between both nations. - Published: 2024-09-17 - Modified: 2024-10-20 - URL: https://analytix.sa/2024-sees-saudi-investment-licenses-doubled-for-egyptian-firms/ - Categories: Daily News RIYADH: In 2024, more than double investment licenses were given by Saudi Arabia to Egyptian firms, showcasing the strong economic ties between the two countries. Saudi Investment Minister, Khalid Al-Falih pointed out this during a meeting with Egyptian Prime Minister Mostafa Madbouly in Riyadh, which was organised by Federation of Chambers. The collaboration managed to create more than 80,000 jobs in Saudi Arabia by Egyptian investors. Al-Falih highlighted the importance of Egypt in the various sectors which include tourism, infrastructure, agriculture, energy and information technology. He also pointed out that the strong cooperation between the two countries will also enrich Arab economy and will boost regional economy growth. He talked of international economic shifts and other growing sectors like artificial intelligence as opportunities for mutual growth. Al-Falih saw Egypt as one of Saudi’s strategic partners in investing, leveraging its strategic market and trade relations. Madbouly admitted that Saudi Arabia is still a key market for Egyptian expatriates and talked about Egypt’s plan to increase exports from $ 35 billion to $ 145 billion. He also focused on addressing problems that Saudi investors encounter, the improvements, and new incentives like the golden license to encourage more investments. Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, particularly highlighted the issue of investor concerns and the necessity to create a clear investment policy aimed at boosting Egypt’s economic competitiveness. --- > AMAALA, a project in Saudi Arabia, being developed by Read Sea Global (RSG), has achieved great achievement with over 600 contracts. - Published: 2024-09-11 - Modified: 2024-10-20 - URL: https://analytix.sa/red-sea-global-awards-saudi-amaala-project-with-6-13-bn-in-contracts/ - Categories: Daily News RIYADH: AMAALA, a project in Saudi Arabia, being developed by Read Sea Global (RSG), has achieved great achievement with over 600 contracts amounting to $ 6. 13 bn to global partners. It is expected that the project will be ready to host its first guests by 2025 and the aim is to facilitate the development of luxury tourism sector along the Red Sea coast. Al-Rawabi Hassan Allam, Shapoorji Pallonji Group, DEPA Group, Alec Engineering, and Al-Ayuni Investment and Contracting Co. are the key partners for this project. RSG’s vision emphasises building luxury and wellness destinations while focusing on sustainability and associating with local communities. CEO John Pagano pointed out the progress of the project in various areas, especially in resorts, utilities, and infrastructures, with focus on regeneration and sustainability. Once developed fully, AMAALA will have about 30 hotels with almost 4,000 rooms, luxury villas, apartments, and estate homes. The development also involves substantial progress on Triple Bay Marina Village, where the iconic structures like Equinox Resort and AMAALA Yacht Club are in its final stages of construction. The project will fully depend on solar energy to align with Saudi Arabia’s environmental goals. Infrastructure developments amounting to 35 kilometers of internal roads, power, water, irrigation and communication systems, are nearing completion, with full energization expected by December. RSG also aims to plant 3 million trees and shrubs in pubic spaces by the end of the year. Luxurious resorts like Jayasom, Clinique La Prairie, Rosewood, Six Senses and the Four Seasons will be part of the wellness aspects of the project. A newly approved AMAALA hospital will be dedicated to provide healthcare services to both visitors and the residents. --- > Our Saudi Round-Up series provides insight into key sector advancements in the Kingdom from September 1 to 7, 2024. - Published: 2024-09-09 - Modified: 2024-10-21 - URL: https://analytix.sa/saudi-insights-saudi-industry-ministry-holds-discussion-with-heads-of-chinese-lithium-copper-mining-firms/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 1st September to 7th September 2024 Italy becomes Saudi Arabia’s top choice for green energy supply to Europe RIYADH: Saudi Arabia wants to make Italy a key partner in exporting green energy, like renewable hydrogen to Europe. The Kingdom aims to diversify its economy by shifting from the traditional oil and gas to low-carbon energy. Even though the hydrogen market is still new, Saudi Arabia is investing in both blue and green hydrogen. Saudi Investment Minister Khalid Al-Falih pointed out that Italy is important in assisting the Kingdom in exporting these green products to Europe. He also stressed the need to invest in ports and pipelines to transport energy. Italy recently entered into a deal with Germany and Austria for developing a hydrogen pipeline which is in line with EU’s goal to cut off carbon emissions by producing and importing green hydrogen. Saudi Industry Ministry holds discussion with Heads of Chinese lithium, copper mining firms RIYADH: Saudi Arabia’s Industry and Mineral Resources Minister, Bandar Alkhorayef, met with Chinese mining firms in order to discuss opportunities for investment and partnership in the sector. The discussion was regarding lithium used in batteries, especially those in electric vehicles and the processing and refining of copper. Alkhorayef had a discussion with the chairman of General Lithium Corp. about Saudi Arabia’s plans in electric vehicle industry and investment opportunities. Other officials who attended the meeting include Abdullah Al-Ahmari, Saleh Al-Sulami, and Majed Rafed Al-Argoubi, who are involved in industrial and technological development. Saudi Investment Minister Khalid Al-Falih pointed out that Italy is important in assisting the Kingdom in exporting these green products to Europe. He also stressed the need to invest in ports and pipelines to transport energy. Italy recently entered into a deal with Germany and Austria for developing a hydrogen pipeline which is in line with EU’s goal to cut off carbon emissions by producing and importing green hydrogen. New Campaign puts spotlight on Red Sea Tourism and Investment RIYADH: The Saudi Red Sea Authority brought forth a new campaign called ‘More Than a Sea’ to encourage the coastal tourism and investment in the Red Sea region. The campaign focuses on four main areas: regulation, sustainable development, attracting investment and encouraging tourism. The authority supervises the coastal tourism through setting policies, issuing licenses and developing infrastructure. It has put in place new measures to regulate the coastal tourism activities. The campaign also points out the investment opportunities available in the Red Sea, with its 1,800 km coastline, diverse landscapes, and cultural heritage. Cruises, diving, and snorkeling are being promoted along with the effort to protect the environment and increase the blue economy. In this region there are 150 beaches, 1000 islands, and 500 spots for diving as well as unique cultural experiences. Aligning with Saudi Vision 2030, the authority aims to contribute SR85 billion to GDP, increasing... --- > In this blog, let's look in detail at why Asian companies are expanding to Saudi Arabia, and what makes it a top choice. - Published: 2024-09-07 - Modified: 2024-09-09 - URL: https://analytix.sa/why-are-asian-companies-expanding-to-saudi-arabia/ - Categories: Articles Recent years have witnessed a tremendous transformation of Saudi Arabia into a global economic powerhouse. The Kingdom is undergoing an exceptional evolution under giant projects like Vision 2030, and it is creating vast opportunities for investors from within the country and abroad. Saudi Arabia provides a lucrative market for Asian countries due to its geographic location, access to the Middle East market, forward-looking policies, resources, etc. As the gateway between West and East, the geographic location of Saudi Arabia is pivotal as it connects Asia to Europe and Africa. Now let’s look in detail at what attracts the Asian countries to this Arab kingdom, and what makes it a top choice to do business among the Asian economic giants. So let's dive in! 1. China China, being an economic tycoon, has been the largest trading partner of Saudi Arabia, since 2001. The bilateral trade between China and Saudi has reached a value of $107. 23 billion. This has significantly boosted bilateral collaboration between the countries from both ends and has catalysed growth in sectors like construction. China State Construction Engineering Corporation (CSCEC), recently won a contract worth over $2 billion to construct a new mixed-use district north of the Diriyah Gate Giga project worth $62. 2 billion. The financial sector of both countries has the share of mutually rewarding partnerships. Saudi Arabia has signed six Memoranda of Understanding (MoUs) worth $50 billion, with one of the leading Chinese financial institutions. This would surely boost the two-way new financial flows between the countries and support Saudi Vision 2030. 2. Japan Along with Chinese companies, companies from Japan are also expanding to Saudi Arabia. According to recent market reports, around 110 Japanese companies already function in the Kingdom of Saudi Arabia. This figure is expected to multiply due to the Saudi-Japan 2030 business forum held which ended up with the signing of more than 30 MOUs which cover industries like manufacturing, energy, etc. Also, the joint projects executed by the companies from both ends have raised from 30 to 100, building a significant phase of great industrial expansion and enhanced synergies. The net-zero transition would be a great catalyst for driving up the businesses in both countries. Due to this, there is a rise in the flow of green investment to Saudi Arabia, which is in alignment with the aim of the country to reach carbon neutrality by 2060 and become a world leader in promoting clean hydrogen technology and its adoption as a source of clean energy. Maurebeni, which recently secured a deal with the Saudi Power Procurement Company (SPPC) has established 2 significant wind energy projects in the Kingdom of Saudi Arabia. The financial sector of both countries has the share of mutually rewarding partnerships. Saudi Arabia has signed six Memoranda of Understanding (MoUs) worth $50 billion, with one of the leading Chinese financial institutions. This would surely boost the two-way new financial flows between the countries and support Saudi Vision 2030. 3. Singapore Saudi Arabia is the main trading... --- > Read the blog to know more about Riyad Expo 2030 and how it would be beneficial for you as a business official. - Published: 2024-09-06 - Modified: 2024-09-07 - URL: https://analytix.sa/riyadh-expo-2030/ - Categories: Articles World Expos are grand events that help global nations to come together and address international issues. We must be glad that Riyadh, Saudi Arabia is selected as the next destination to host the Expo in 2030 from 1/10/2030 to 31/3/2031. Originated in 1851 with the World Fair in London, it has extended its presence to global locations including the recent Expo 2020 in Dubai. As a global platform drawing millions of attendees from diverse parts of the world, it is a platform to discuss innovations and has the potential to impact the physical and social fabric to fulfil the innovative ambitions of humans. As a platform facilitating significant growth opportunities, in various platforms like construction, finance, tourism, transport, and consumer goods, it offers tremendous opportunities for growth and renovations. In addition to this, expos leave lasting landmarks like Expo City Dubai, creating lasting impressions. At the 173rd General Assembly of the Bureau International des Expositions, the capital city of Saudi Arabia Riyadh got selected as the host city for the most awaited Expo 2030. The theme of the International Registered exhibition hosted by Saudi Arabia in Riyadh from October 2030 to March 2031 is “The Era of Change: Together for a Foresighted Tomorrow”. The details about the expo are available at the official website of Riyadh Expo - riyadhexpo2030. sa/ and through social media channels like Facebook - RiyadhExpo2030, and X - Riyadh_Expo2030. Read the blog to know more about Riyad Expo 2030 and get better insights about the exhibition, and how it would be beneficial for you as a business official. So let's get started ! What You Will See at World Expo 2030 The city’s commitment to sustainable growth coupled with its regional significance and proven ability to host large events, made Riyadh an irresistible choice for World Expo 2030. The regional significance, ability to host international events, and commitment to sustainable growth are the other major reasons that made Riyadh the next choice for World Expo 2030. With the theme “The Era of Change: Together for a Foresighted Tomorrow” the aim of Riyadh Expo 2030 is to show the world how Saudi imagines a sustainable future and how it hopes for its contributions to shape a sustainable and prosperous future. It was during the Paris World Expo 1889, it debuted the Eiffel Tower and this time, Saudi Arabia plans an extensive campaign which focuses on building futuristic mega projects in the country and completing them by 2030. The main one among them is a giant cube-shaped structure named Mukaab which is considered as “a gateway to another world. ” Another mega plan of Saudi Arabia is New Murabba, the largest modern downtown which is designed to make Riyadh a top livable city in the world by including it in the top 10 livable cities by 2030. Key Information about Riyadh Expo 2030 The Expo 2030 Riyadh is scheduled to occur from October 2030 to March 2031, in the north of Riyadh, covering over 600 hectares of area.... --- > According to a survey, more than 660 companies are planning to expand their businesses to Saudi Arabia. - Published: 2024-09-06 - Modified: 2024-09-07 - URL: https://analytix.sa/hundreds-of-companies-consider-saudi-arabia/ - Categories: Articles Saudi Arabia, a Kingdom with a rich history, large oil reserves, and vast deserts, is on its way to becoming a global economic powerhouse. Its strategic effort to transform into a non-oil-dependent country is achieved by attracting foreign investments. Vision 2030, Riyadh Expo 2030, construction of mega and giga projects, etc aids its effort to become a world player in the global economy. The efforts of Saudi Arabia are bearing fruit, as more and more companies around the world are migrating to Saudi Arabia for business setup in Saudi Arabia and expand their operations to this Arab Kingdom. A conducive business environment, strategic geographical location, great economic reforms, powerful leadership, etc are the other favourable factors attracting foreign business to the Kingdom of Saudi Arabia. According to a survey, more than 660 companies are planning to expand their businesses to Saudi Arabia. Around half of the companies participating, are planning to move into Saudi Arabia in the next coming months. Also, a survey says, the demand for Saudi Arabia as an ideal business location has been on the rise since 2018, due to the favourable business environment the country provides to its investors. Thirty per cent of the business expansion is from the United States of America and the United Kingdom. The major reason for this boost in the expansion compared to 2018 is due to red tape reduction, which allows the companies to set up their business in the Kingdom within 2 months, compared to 8 to 12 months of long period back in 2018, when the country was on its baby steps to diversify its economy. The government investment to drive its economy is also on the rise, as it is in its effort to drive its foreign direct investment to $100 billion, compared to $ 33 billion in 2022. In order to get access to a government contract worth SAR 1 million, regional companies have to open Saudi offices. A commercial code was introduced last December to gear up the opaqueness of the legal system. With the construction of giant projects like Neom, Diriyah, Jeddah Central, Qiddiya, Red Sea Global, and numerous special economic zones, Saudi Arabia is the most preferred by real estate consultancies and is often described by them as the “world’s biggest ever construction site”As Riyadh hosts World Expo 2030, a lot of infrastructural development is on its way, as the whole world will be eyeing Saudi Arabia from October 2030 to March 2031. Saudi’s potential for development is immense, even after winning regional venture capital funding, worth $ 1. 4 billion in 2023, there is even more room to provide funding to the incoming business in the country. Now let’s look in detail what are the factors that make Saudi Arabia a preferred business set up location. 1. Vision 2030 Launched in 2016 by Crown Prince Mohammed bin Salman, the main aim of Vision 2030 is to diversify the economy of Saudi Arabia from an oil-dependent country to a non-oil-dependent country. The major... --- > Saudi Arabia’s automotive industry could receive a huge boost after a visit to East Asia by the Industry and Mineral Resources Minister, Bandar Alkhorayef. - Published: 2024-09-03 - Modified: 2024-10-21 - URL: https://analytix.sa/saudi-automotive-industry-set-for-boost/ - Categories: Daily News RIYADH: Saudi Arabia’s automotive industry could receive a huge boost after a visit to East Asia by the Industry and Mineral Resources Minister, Bandar Alkhorayef. From September 1 to 8, Alkhorayef will tour China and Singapore to establish cooperation and investment partnership, seek collaboration in industrial sectors. The automotive market in Saudi Arabia is significant, representing total sales of 40% in the Middle East and North Africa. It is in line with Saudi Vision 2030, to shift from an oil-dependent economy to a global hub of industrial development and supplier of sustainable vechile solutions. China’s and Saudi Arabia have a strategic partnership that has been grown in over 80 years. China is Saudi Arabia’s top trading partner, with the trade value exceeding $ 100 billion in 2023. Chinese investment in Saudi Arabia last year was $ 5. 6 billion in automotive manufacturing and large sums in minerals and semiconductors. The visit includes meeting with some of the largest global companies and discussing business opportunities in the areas of automation and technology. Prominent discussions will be held with Huawei in Guangzhou about smart solutions and Fourth Industrial Revolution technologies. The delegation will also meet with GAC Group, General Lithium and other major commercial and industrial companies in Hong Kong such as Hutchison Ports and Cyberport. In Singapore, business meetings will be held with high ranking officials and visit institutions like A*STAR, the Singapore Manufacturing Federation and Tuas Port, world's largest automated port. Saudi non-oil exports to Singapore for the last year 2023 were valued at SR 9. 3 billion while the imports amounted to SR 5. 9 billion. The visit is expected to strengthen the Saudi Arabia’s automotive industry and support its national industry strategy. --- > Read this blog and get a comprehensive idea on how to open a corporate bank account in Saudi Arabia for foreign companies. - Published: 2024-08-31 - Modified: 2024-08-31 - URL: https://analytix.sa/open-a-business-bank-account-in-saudi-arabia/ - Categories: Articles Saudi Arabia is on its path towards becoming the global business hub thus the need for efficient banking services for the smooth functioning of corporate companies are in great demand in the country. Once a company is launched in the ever growing landscape of this Arab Kingdom, it becomes inevitable to open a corporate bank account in Saudi Arabia to explore new opportunities and drive business growth. Businesses planning to open a business bank account in Saudi Arabia should have a registered entity in the country. So opening a corporate bank account in the Kingdom helps to build a strong foundation in the dynamic economy of Saudi Arabia thus opening doors for secure financial transactions. Opening a business account in Saudi Arabia is of great advantage to corporate companies as it enables them to access various benefits like business credit cards which allow fund transfer to multiple locations, online banking services, mobile banking, etc. combined with other benefits like purchase of stocks and bonds, trading and investments, and treasury management. Opening a bank account is essential for the successful business expansion in the Kingdom of Saudi Arabia. Read this blog and get a comprehensive idea on how to open a corporate bank account in Saudi Arabia for foreign companies. Through this blog we will discuss the procedures involved and documents required for the same. So let's get started ! Requirements for Opening a Bank Account in Saudi Arabia A corporate bank account allows more structured tracking of finances of the corporates and ensures compliance with the tax laws and guidelines set by the Saudi Arabian Monetary Authority (SAMA). Thus opening a corporate bank account helps the corporate companies to contribute to the improvement of the overall financial governance of the company and strengthen the transparency and credibility of the business operation. Saudi Arabia being one of the global financial hubs, hosts 37 banks, out of which 3 are digital banks, 11 domestic banks and 23 international banks, which are being operated by the regulation of SAMA. All these 37 offer products and services with a certain amount of fees and requirements. So selecting the right bank is essential to ease your financial transaction in the country. Riyad Bank, Samba Financial Group, Awwal Bank, Al Rajhi Bank, Saudi National Bank etc. are some of the major local banks in Saudi Arabia. Standard Chartered Bank, Emirates NBD, Deutsche Bank, and BNP Paribas, etc are some of the international banks operating in the Kingdom. Documents Required for Opening Company Bank Account in Saudi Arabia Before opening a corporate bank account in Saudi Arabia by a foreign national, a lot of information would be collected by the Bank officials, to get more details regarding their professional background and business activities. Also opening a bank account takes days and weeks depending upon the type of bank chosen, transactions done, corporate entity and documents required. Inorder to open a business bank account in Saudi Arabia, a lot of documents has to get ready, which are as... --- > In this blog, we'll discuss how to start a sports business in Saudi Arabia - Published: 2024-08-31 - Modified: 2024-08-31 - URL: https://analytix.sa/start-a-sports-business-in-saudi-arabia/ - Categories: Articles Sports have always had greater importance in the kingdom of Saudi Arabia since 1950 becoming an essential component to the cultural framework of the kingdom. The ambitious plan of Crown Prince Mohammed bin Salman to uplift the Saudi football league to the world’s top 10 showcases the kingdom’s commitment to sports. The Quality of Life Program launched by Saudi Government in May 2018 gives primary importance to Sports. As a part of the program, a wide range of initiatives are been dedicated to encourage the participation, promoting the betterment of performance of Saudi athletes in global competitions, and supporting the growth of sports economy in the kingdom. The programs is in line with the goal of Saudi Vision 2030 for building and aiming to place Saudi Arabia as a country as a prosperous country with a leading, diverse and flourishing economy. Overview of the Saudi Sports Industry Being aware of the fact that more than two third of the population are under 30, Saudi Arabia understands the role of addressing the largest group of demography. The Vision 2030 aims also at creating an active society through promotion of physical and social well-being. The sports sector with a worth $ 5. 77 billion in 2022 is progressing and the business will aim at $22. 2 billion by 2030. Recent investments, exceeding $6. 3 billion since 2021, paint the picture of government’s interest in sport in general and in particular football, Formula 1, golf, winter sports, tennis among others. The industry for sports events has a high growth rate, which is estimated to be at 8% per annum and is thus a vibrant and dynamic market. Today the sports sector contributes to around 0. 2% to the Kingdom’s GDP, when the tourism as a sector gives around 3%, according to Ministry of Sports and Ministry of Tourism. Both ministries have ambitious growth targets. Sports sector are expected to contribute 0. 6 % to the GDP and the tourism at a statistical projection of 10% by year 2030. Important Initiatives to Boost Saudi Sports Sector To support further development of sports industry, the Public Investment Fund of Saudi Arabia has created SRJ Sports Investments. As an investment company, this entity seeks to own and generate Intellectual property rights on sporting events, seek to commercialize sports events, and outright host some of the important sport events. The activities for fan engagement and a wide kind of technology transforming sports really fit into Vision 2030 mission of creating or achieving a vibrant society through a healthy lifestyle. Efforts aimed at increasing the representation of women in sports and further development of sports infrastructure can be considered as revealing the kingdom’s concern for applying inclusiveness and further development of the sports sector. The formation of the ‘Sports Clubs Investments and Privatization Project’ was another development where four SPL clubs — Al-Ahli, Al-Ittihad, Al-Hilal and Al-Nassr came under the management of Saudi Arabia’s sovereign wealth fund, PIF( Public Investment Fund). This strategic maneuver not only shifted ownership... --- > Saudi Arabia and Poland have created a new joint business council for the term 2024-2028 to boost the commerce and investment between the two countries. - Published: 2024-08-31 - Modified: 2024-10-21 - URL: https://analytix.sa/new-business-council-formed-by-saudi-and-poland-to-strengthen-economic-ties/ - Categories: Daily News RIYADH: Saudi Arabia and Poland have created a new joint business council for the term 2024-2028 to boost the commerce and investment between the two countries. The Saudi Arabia General Authority for Foreign Trade (GAFT) has concluded the establishment of the Saudi-Polish Business Council and appointed Abdullah bin Mohammed Abu Dubeil as chairman. He will be accompanied by two vice chairmen, Farea Bin Hazem Zaqzouq and Musab Bin Ahmed Al-Maseed. This strategy is part of Saudi Arabia’s plan to strengthen economic ties with Europe, particularly Poland, which is Europe’s one of the largest economies. Poland’s agri-food sector’s exports has been on rise and has recorded a € 47. 9 billion ($ 51. 1 billion) in 2023, an increase of € 10 billion compared to the previous year. In 2023, the trade between Saudi Arabia and Poland reached around $ 9 billion. The major exports from Saudi Arabia to Poland are minerals products and plastics, while major exports from Poland to Saudi Arabia include tobacco, machinery and mechanical appliances. The newly established Saudi-Polish Business Council aims to help businesses in both countries to expand trade and investment opportunities. GAFT looks after 46 bilateral and regional councils, all of which aim to enhance international economic partnerships. --- > Our Saudi Round-Up series provides insight into key sector advancements in the Kingdom from August 26 to 31, 2024. - Published: 2024-08-31 - Modified: 2024-10-21 - URL: https://analytix.sa/saudi-insights-real-estate-transaction-in-saudi-arabia-rise-to-38-in-h1-reaching-34-bn/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 26th August to 31st August 2024 Real Estate transaction in Saudi Arabia rise to 38% in H1, reaching $ 34 bn RIYADH: The real estate market in Saudi Arabia rose to 38% in the first half of the year with 106,700 deals worth of approximately $ 33. 9 billion, according to a report by real estate consultancy Knight Frank. Residential transactions accounted for 61% of the total value, a 41% increase in the number of deals reaching almost 91,860 transactions. The value of these residential transactions increased by 48%, reaching $20. 7 billion. Several factors are behind this increase including the Saudi Arabia’s Housing Program which provided over 96,000 families with home financing in 2023. Moreover, over 20,000 households have benefitted from the Development Housing Program that offers homeownership opportunities and usufruct rights through government support. This increase in residential demand is attributed to the government initiatives that made owning a house affordable and partnerships between public and private sectors. Riyadh has seen the highest increase at 49% in residential transactions, as a part of the government’s efforts to develop its appeal as one of the Kingdom’s economic and cultural centres. Other main cities such as Jeddah, Dammam and Madinah also witnessed an increase, however, Makkah saw a slight decline of 6%. The government’s efforts to increase housing supply and affordability with key programs like Sakani and Wafi have been the driving force that led to an increase by 63. 74% by the end of 2023, exceeding even the government’s goal. New regulations that allow foreign investors to purchase property through the Premium Residency Visa also expanded the market, further elevating demand. Initiative launched to strengthen tourism education and training RIYADH: Saudi Arabi’s Vice Minister of Tourism, Princess Haifa bint Mohammed Al-Saud, has introduced a campaign to improve education and training in the tourism sector. The Ministry of Tourism has launched the initiative to enhance current educational programs that align with the needs of the labour market. In 2024, 102 national tourism education and training programs will be assessed rating by the UN Tourism, the Education and Training Evaluation Commission, and the Technical and Vocational Training Corp for the purpose of entering their programs in accreditation both internationally and at the national level and professional certification. The goal is to get 31 programs accredited nationally and internationally by 2024, to train and certify 200 trainers and staff for managing and teaching tourism programs, and to provide 37 employees of the Ministry of Tourism with professional management certificates. Furthermore, there are 27 other programs that are expected to be accredited by 2025. Princess Haifa emphasized the ministry’s efforts to collaborate with local and international partners to realize these goals which will improve the competitiveness of Saudi Arabia’s tourism sector, increase the country’s position on the global standing in tourism, and generate employment. In June, the... --- > In the year 2023, Saudi Arabia’s market size of cybersecurity increased by 10.8%, reaching $ 3.55 billion (SR 13.3 billion). - Published: 2024-08-28 - Modified: 2024-10-21 - URL: https://analytix.sa/saudi-cybersecurity-market-rises-to-10-8-to-3-55-bn-in-2023/ - Categories: Daily News RIYADH: In the year 2023, Saudi Arabia’s market size of cybersecurity increased by 10. 8%, reaching $ 3. 55 billion (SR 13. 3 billion). This increase is due to the focus of the Kingdom to improve cybersecurity in both public and private sectors. Government spending accounted to SR 4. 1 billion, which is 31% of total expenditure, with the private sector investing SR 9. 3 billion (69%), and SR 2. 8 billion particularly for protecting Critical National Infrastructure. This rise in investment is in accordance with Saudi Arabia’s Vision 2030 initiative to be a world leader in many sectors. The cybersecurity sector contributed SR 15. 6 billion to the GDP in 2023, with SR 8. 6 billion from direct and SR 7 billion from indirect contributions. The products and solutions comprise 56% of the market, proving the Kingdom’s extensive focus on preventive and reactive cybersecurity measures. The number of registered cybersecurity providers rose to 353 by the end of 2023 suggesting that there are more business opportunities and demand for specific services. The workforce in this sector is 19,600 people, among which 32% were women, which aligns with Vision 2030 goals of increasing women’s employment. Saudi Arabia has an internationally recognized cybersecurity model for nationwide operations and providing support for organizations managing their own security requirements, enhancing both national and global prospects. With the Kingdom diversifying its economy and decreasing its dependence on oil revenue, continued investment in cybersecurity remains crucial. The increasing complexity of cyber threats and the shifting landscape of industries indicate the ongoing need for continued investment in this field. --- > In this blog, we’ll dive deeper into the key differences between a branch and a subsidiary, and the major challenges associated with each one. - Published: 2024-08-26 - Modified: 2025-04-08 - URL: https://analytix.sa/difference-between-branch-and-subsidiary/ - Categories: Articles Planning to set up a new company or expand your business to new locations? But confused about whether to start it as a branch or subsidiary? If so, are curious to know what’s the difference between a branch and a subsidiary? Do these terms convey the same meaning or do they differ? Well, this blog will help you understand the difference between branch and subsidiary. In this blog, we'll dive deeper into the key differences between a branch and a subsidiary, and the major challenges associated with each one, helping you choose the one that rightly matches your business expansion goals. So read the blog and gain better insights and choose the one that rightly matches your business aspirations. So let's get started! What is meant by a Branch? A branch is an extension of a company which is meant to be present physically in multiple locations. The main aim of a branch is to access diverse markets and provide services to a wide range of customers. A branch office is considered a great part of the parent company and the parent company is responsible for the actions of the branch office. Also It has no different legal identity. A branch office does the same business of the head company and each branch of the company competes with each other regarding the sales target. Each branch office would have a branch manager and they should report to the head office. Though each branch has the same marketing materials, their marketing efforts and plan should be different, adapting to the foreign country in which it is located. What is meant by a Subsidiary? A subsidiary company is a legally independent company whose shares are owned by a large company called a holding company. The holding company and its subsidiaries are known as a corporate group. A subsidiary company would be controlled by the parent company, but would have a separate legal identity from its parent company and the head company would not be responsible for the activities of the subsidiary companies. It would be considered as a a separate company that can sign contracts in its name and the tax system for a subsidiary company would be different from its parent company. Major Difference Between Branch and Subsidiary The major difference between a branch and a subsidiary is that branches are set up to increase the customer reach and approach various markets, but subsidiaries are formed as a part of a broader expansion strategy of the main company. Below we list the major difference between a subsidiary and a branch. Have a look at them and explore the major differences. 1. Reporting EntityThe reporting entities of both the branch and subsidiary are different. While the branch has to report to the head office, the subsidiary has to report to the holding company. 2. Branding EffortsThe branding effort of a branch and parent company would be the same, they use the same logo and slogans. A subsidiary can have independent and unique... --- > In this blog, we are going to discuss the Golden Visa of UAE and Premium Residency of Saudi Arabia and which is better for expats - Published: 2024-08-26 - Modified: 2024-08-26 - URL: https://analytix.sa/saudi-arabia-premium-residency-vs-uae-golden-visa/ - Categories: Articles Imagine finding a place in the Middle East where you can grow your career, increase your investments and live happily with your family in a most secure way. More expats are looking for a long-term option in the region, so would Saudi Arabia Premium Residency or the UAE Golden Visa be more suitable for them? In this blog, we are going to discuss the Golden Visa of UAE and Premium Residency of Saudi Arabia. While both countries are offering these programs to attract talent, investment and innovation, there is a need to analyse them in detail. With years of extensive experience, Analytix is here to provide insights on each of these from a practical standpoint. We have listed out the benefits, demands and potential of each option to help you choose the best for you. What is Saudi Arabia Premium Residency and UAE Golden Visa? The UAE Golden visa is long-term residency option enabling the foreign investors and individuals to live, work or study in the UAE while enjoying special benefits. Those who are eligible for Golden visa includes Investors, entrepreneurs, scientists, outstanding students and graduates, humanitarian pioneers and frontline heroes. The Premium Residency in Saudi Arabia also known as premium iqama is a residence permit issued by the Government of Saudi Arabia to expatriates who wishes to reside in Saudi while providing them many of the same privileges enjoyed by Saudi nationals. Scope and Eligibility standards The UAE Golden Visa holds a broader scope by attracting entrepreneurs, investors, bright students to the UAE and the Premium Residency of Saudi Arabia prioritize particular categories of investments, special talents and significant professions. Let us now take a look at the requirements for eligibility and scope of each. Below are the categories eligible for the UAE Golden Visa:Investors in Public sectorInvestors in Real estateOutstanding talents (specialized)Executive DirectorsAthletesSpecialists in science and engineering fieldsFrontline workersPioneers of humanitarian workInventorsBrilliant students in high school and universityEntrepreneursCreative persona in the fields of culture and artBelow are the categories eligible for the Saudi Arabia’s Premium Residency:Talented personalities (Sports, Culture and Art)Real estate ownersInvestorsEntrepreneursLimited and unlimited durationIndividuals with special talents (including researchers and executives, healthcare and science)However, these differences and distinctions reflects the uniqueness in strategic goals and economic environments of each country. The approach put forward by the UAE is broader offering a large number of investment opportunities and includes a wider range of section, when the program offered by Saudi Arabia is more specific and specialized. Talk to an Expert Residency timeframe and extension/renewal The residency period of UAE Golden Visa is five to ten years with the option for renewal. The individuals holding golden visa are permitted to stay outside the UAE for more than six months without losing their residency. However, this feature is not explicitly offered in the Saudi visa program. Saudi’s Premium Residency offers the options of both limited-duration and unlimited-duration and the holders are allowed to renew only the limited ones. Family Sponsorship Programs Both the visa programs offers a key benefit... --- > Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. From 18th August to 25th August 2024 - Published: 2024-08-26 - Modified: 2024-11-30 - URL: https://analytix.sa/saudi-insights-new-investment-law-introduced-in-saudi-arabia/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 18th August to 25th August 2024 Saudi’s New Investment Law to support investors RIYADH: Saudi Arabia launched a new investment law on August 11, 2024. The law is a part of Saudi Arabia’s strategy to diversify its economy and become a top investment destination. By building confidence in the legal and regulatory environment, the law shall enhance the attractiveness, reliability, and competitiveness of the business environment in Saudi Arabia to both local and international investors. The law will come into effect 180 days after its publication, that is the early 2025. Key features of the New Investment Law The new law contains several reforms to enhance the investment environment in Saudi Arabia, providing the fair and favorable landscape for the local and foreign investors. Some of the law's key features include: Simplified Processes: The law eases the various process involved in starting, managing and exiting investments in Saudi Arabia, making it easier for the business to operate in the country. Investor Protection: It enhances the investor’s rights and guarantees that investments cannot be confiscated or expropriated without legal processes and reasonable compensation. Equal Treatment: Local and Foreign Investors will receive the same treatment; this is a drastic change from previous laws whereby foreign investment entities were required to obtain separate licenses. Investment Freedom: The law provides investment freedom, and investors may undertake all business activities that are legal to invest in, though some limitations to foreign investors in certain activities may still apply. No more separate Foreign Investment License One of the significant changes in the new law is the removal of the prior law’s requirement for foreign investors for Foreign Investment Licenses. This measure cuts across the registration process and brings foreign investors to parity with local investors. The role of the Ministry of Investment (MISA) will operate and maintain a national register of all investors while other supporting regulations will be offered through their business centres. This change will ease the process of entering Saudi Arabia’s market and regulate foreign businesses more efficiently; further information about its impact on capital controls and shareholders’ rules is expected to appear in the Implementing Regulations. Investor Rights and Dispute Resolution The Investment Law introduces protections for investors, including: Equal and Fair Treatment: All the investors will get equal treatment under similar circumstances, hence putting efficiency in the environment of the business. Rights to Funds and Property: It will be entirely possible for investors to manage and transfer their investments and property without any delay. Dispute Resolution: The law also confirms that the investors have the right to appeal for the resolution of disputes through courts or other means such as arbitration and mediation. Incentives and Special Economic Zones To encourage investment, the law contains new incentives that investors will be offered based on the criteria set by the Saudi Government and its agencies. Special Economic... --- > Global firms will transform King Salman Airport into a hub for 120M annual passengers, boosting Saudi Arabia's economy and job creation. - Published: 2024-08-22 - Modified: 2024-10-21 - URL: https://analytix.sa/top-global-designing-and-engineering-firms-roped-in-for-the-development-of-the-new-riyadh-airport/ - Categories: Daily News RIYADH: Global companies like Foster & Partners, Jacobs Engineering, Mace, and Nera have been called in to support the development of the King Salman International Airport in Riyadh, Saudi Arabia. The plan, led by the King Salman International Airport Development Co. , a subsidiary of the Public Investment Fund (PIF), plans to develop the airport into a major regional hub for tourism, travel and transportation. The American company, Jacobs Engineering will offer consulting in the preparation of the master plan for the airport and the construction of the new runways. Mace, a UK-based construction company, will bring new ideas and effective practices into the planning and construction phases of the project. Saudi firm Nera will be responsible for airspace architecture to enhance air traffic flow with the help of advanced technologies. Covering around 57 sq. km, the airport will consist of six more runways, and existing terminals named after King Khalid and have an area of 12 sq. km of support facilities such as residential and recreational areas, shopping space, and logistics real estate. According to Crown Prince Mohammed bin Salman’s 2022 masterplan, the airport should become one of the largest in the world with passenger traffic of 120 million by 2030 and 185 million by 2050, with cargo capacity of 3. 5 million tons. The airport is planned to align with Saudi Vision 2030’s objectives and goals of efficient operation, modern facilities, sustainability, aiming to achieve LEED Platinum certification. It will be powered by Renewable energy, supporting PIF’s plan in relation to the diversification of the economy. The airport is expected to add SR 27 billion ($ 7. 20 billion) annually to non-oil Saudi Arabian GDP and generate an overall of 103000 direct and indirect jobs, aligning with Vision 2030 goals. --- > Saudi Arabia plans a $1 trillion investment by 2030, enhancing infrastructure, healthcare, and digital experiences for citizens. - Published: 2024-08-19 - Modified: 2024-10-14 - URL: https://analytix.sa/saudi-insights-3-46-trillion-worth-of-contracts-awarded-for-the-development-of-road-network-in-riyadh/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 11th August to 17th August 2024 Saudi to invest $ 1 trillion in economy by 2030: Capex super cycle RIYADH: Saudi Arabia plans to spend $1 trillion in a “capex super cycle” by 2030, with 73% targeted at the non-oil sector, as highlighted by Goldman Sachs. Nonetheless, it has a funding gap of $25 billion every year for the capex projects which have raised issues of liquidity and funding thus moving towards other forms of funding. As Goldman Sachs points out, there is a decreasing interest in funding the oil industry by potential decreases of $40bn between 2024-2028. However, natural gas is still essential to the growth of Saudi Arabia’s economy and decarbonization efforts. The emphasis on clean energy sources has increased further with $ 235bn allocated to the sector, which is much greater than previously estimated. Saudi Arabia is one of the world’s fastest-growing renewable markets, with the goal of reaching up to 130GW of solar power by 2030. Other sectors such as metals, transport, logistics, and digitalization are also being invested heavily, which amounts to $400 billion. Still, the question of finances remains an issue even with grand plans in mind. It was predicted that if oil prices are $80-$85 per barrel, and with decrease of production, Saudi Arabia’s budget deficit will reach 4. 3% of GDP in 2024, having risen from 2% last year. This has been due to the increase in spending and the decline in oil revenues, hence creating a deficit. To manage funding gaps, Saudi Arabia has turned to debt issuance raising over $35 bn in bonds and sukuk for the first half of 2024. It is also searching for new funding sources, for instance, the expansion of equity capital markets to help reduce the burden on the country’s banking systems. According to the investment bank, Goldman Sachs the capex super cycle is likely to remain relevant to Saudi Arabia in delivering its economic plan even as there may be concerns on the fiscal impact and pace of the investments. Contracts worth $ 3. 46 trillion awarded for developing road network in Riyadh RIYADH: The Royal Commission for Riyadh City (RCRC) is funding a major road development project in Riyadh aimed at improving the transport infrastructure of the city. In the first phase, contracts have already been signed for different projects amounting to SR 13 billion ($ 3. 46 billion) for the development of key roads and ring roads to enhance sustainable transportation in Riyadh aligning with Vision 2030. The first group of projects consists of four major road developments: Second Southern Ring Road: A 56-kilometer road connecting Al-Kharj Road with Jeddah Road, featuring four lanes in each direction and three service lanes and includes 32 bridges and 10 intersections. Wadi Laban Suspension Bridge: Construction of two parallel bridges and the construction of the intersection of the western... --- > In this blog, we'll discuss what are the future opportunities available for IT sector in Saudi Arabia. - Published: 2024-08-17 - Modified: 2024-08-17 - URL: https://analytix.sa/opportunities-for-it-sector-in-saudi-arabia/ - Categories: Articles The IT sector of Saudi Arabia is ever-growing, and so are the opportunities as well! The IT sector of Saudi Arabia is the largest one in the region with a market size that is expected to reach $50. 60 billion in 2024 and $76. 05 billion by 2029. With a contribution of 4. 1% to the GDP of the country, the IT sector in Saudi Arabia is a major player in driving revenue to the country. These figures signify large-scale market opportunities and promising talents for tech businesses in the country, helping the Kingdom to achieve its Vision 2030 goals and establish itself as a global hub of tech businesses. The IT sector is an ideal entry point for both local and international companies looking to enter and establish their business in the country. A lot of initiatives taken by the government of Saudi Arabia also boost and strengthen this sector. The major among these is the National Digital Transformation Program (NDTP) launched in 2016 to digitize public services, develop innovation ecosystems in key cities, and foster the growth and performance of the e-commerce sector of the country. The development of Special Economic Zones (SEZs) has a tremendous role in the advancement and expansion of the IT sector in the country with a focus on innovation and development initiatives. These Special Economic Zones provide a lot of benefits for businesses like tax incentives, state-of-the-art infrastructure, and simplified business regulations, making them an ideal place for global IT firms eyeing the market of Saudi Arabia. The Special Economic Zones like King Abdullah Economic City (KAEC) and the Cloud Computing Zone in King Abdulaziz City for Science and Technology (KACST) provide a favorable environment for growth and expansion in IT and its related sectors. The SEZs are being used as an ideal springboard for international tech companies like Apple Inc. , with its regional distribution center in the Special Integrated Logistics Zone. As the Kingdom is on its path towards economic diversion, sectors like Information Technology are already contributing to the country and have established themselves in Saudi Arabia, boosting the business environment of the country. So now let’s look in detail at what are the future opportunities available for tech businesses in Saudi Arabia. Let's dive in! Future Opportunities for Global Tech Companies in Saudi Arabia The IT sector is expected to grow to great heights as the Kingdom now gives huge attention to the digital transformation of the country’s public services aiming for a digitally enabled and knowledge-based economic transformation. One of the economic goals of Saudi Arabia, as outlined in Vision 2030 is to boost the technology sector of the country by giving importance to the tech companies with the greatest multiplier effect. The country has strengthened its position by securing the 12th rank internationally in venture capital availability. The growth of tech companies in Saudi Arabia is visible from the report that the Saudi Arabia-based startup has secured $412 million in the first half of the year 2024,... --- > In this blog, we will help you take you through our assumptions on what is the future of business in Saudi Arabia. - Published: 2024-08-17 - Modified: 2024-08-17 - URL: https://analytix.sa/future-of-business-in-saudi-arabia/ - Categories: Articles Saudi Arabia is on its path to economic diversification. With the introduction of ambitious plans like Vision 2030 and several mega and giga projects, the Kingdom of Saudi Arabia is on its transformation to a non-oil-dependent country. With the introduction of economic reforms like new visa policies and the creation of a welcoming business landscape, Saudi Arabia is positioning itself as a land of greater opportunities for investment, economic and business growth, etc. All these are attracting investors and businesses around the world to consider business setup in Saudi Arabia and contribute to the economic development of the country. In this blog, we will help you take you through our assumptions on what is the future of business in Saudi Arabia. We will also discuss why Saudi Arabia is considered as the land of great opportunities. So let’s get started and together we can explore the key areas for investment in Saudi Arabia and emerging business opportunities in the country. Key Economic Transformation of Saudi Arabia Under Vision 2030 Saudi Arabia is witnessing a tremendous economic transformation under Vision 2030. The country is diversifying its economy and fostering a sustainable future by shifting its focus from oil to various other industrial sectors. Under the leadership and mentorship of HRH Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince and Prime Minister, Vision 2030 has a holistic approach towards economic development and is driven by the principles of innovation, sustainability, and inclusivity. Giga-Projects and Tourism: Saudi Arabia is making million-dollar investments in massive giga-projects which are expected to contribute crucially to the rapidly growing tourism sector of the country. These ambitious projects are estimated to bring in millions of visitors each year, solidifying Saudi Arabia’s position on the world tourism map. Entertainment and Healthcare: The entertainment and healthcare industry is creating significant opportunities for foreign investment with its plans to introduce movie theatres, production studios, and a privatized healthcare system. These sectors with high economic potential are undergoing a major transformation, offering exciting and promising prospects for foreign investors. Technology and Green Initiatives: Saudi Arabia on its mission to position itself at the forefront of emerging technologies is collaborating with leading technology companies, thus offering opportunities for various business setup in Saudi Arabia. Furthermore, by focusing on various green initiatives like renewable energy, hydrogen projects, and carbon capture, the Kingdom's commitment to sustainability is evident, and all these are aimed at achieving net-zero emissions by 2060. Beyond a plan to move away from oil dependency; Vision 2030 is a bold strategy of the Kingdom of Saudi Arabia to build a dynamic and diverse economy. By embracing this ambitious plan, the country aims to build a vibrant and flourishing economy thus building a groundwork for the nation to achieve a sustainable future. What Are The Key Sectors for Investment in Saudi Arabia The future of business in Saudi Arabia is evident from the business landscape of the country and the investment opportunities available in the Kingdom. Saudi Arabia is creating a vibrant... --- > New investment law enhances investor rights, simplifies processes, and boosts transparency as part of Vision 2030 goals. - Published: 2024-08-13 - Modified: 2024-11-30 - URL: https://analytix.sa/saudi-arabias-new-investment-law-to-support-foreign-investors/ - Categories: Daily News RIYADH: Saudi Arabia has unveiled its revised investment law as a part of its Vision 2030 strategy to attract international investors. The revised amendments consolidate investors’ rights and liberties into a single framework and enhance transparency, thereby facilitating business operations. Key features proposed in the law include improved protection for investors such as compliance with the rule of law, fair treatment and property rights, along with adequate safeguards for intellectual property rights and efficient fund transfers. The law also simplifies the registration procedure, replacing complicated licensing requirements and opening new service centers to speed up government transactions and investment processes. This update forms part of an effort to attract investment, following measures such as the Civil Transactions Law, Private Sector Participation Law, Companies Law, and the creation of Special Economic Zones. The law seeks to generate a competitive market environment by encouraging fair competition and equal treatment for both domestic and international investors in the market. Additionally, the law provides additional dispute resolution techniques under the Saudi Arbitration Centre. The Ministry of Investment formulated the regulations that will come into effect in 2025, aligning the Gulf Cooperation Council and the World Trade Organization standards. Saudi Investment Minister, Khaled Al-Falih stated that this law affirms Saudi Arabia’s commitment to provide a safe and welcoming environment for investors, to help boost the Kingdom’s economy and improving its status as a global investment hub. The revised law is expected to build on Saudi Arabia’s strategic diversification plan that has been characterized by an increase in gross fixed capital formation and foreign direct investment inflows. --- > Saudi Arabia sees 153K new jobs, Red Sea Fund opens, and 16M visitors to entertainment events in Q2 2024. - Published: 2024-08-10 - Modified: 2024-10-14 - URL: https://analytix.sa/saudi-insights-saudi-arabia-leads-in-the-employment-growth-index-among-67-countries/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 04th August to 10th August 2024 153,000 Saudis land private sector jobs in the first half of 2024 In the first half of the year 2024, more than 153,000 Saudi men and women have been employed in the private sector with the help of Human Resources Development Fund, led by Turki bin Abdullah Al-Jawini. The fund distributed SR 3. 79 billion ($ 1 billion) for training, employment, as well as empowerment programs to private sector establishments. These policies benefited 1. 4 million Saudis and 100,000 businesses across the major sectors in the Kingdom. Al-Jawini also pointed out that the fund is committed to supporting Saudi Arabia’s development goals, identifying needs in the business sector, and developing a qualified workforce. Measures are aimed at developing the Saudis’ skills, increasing their participation in the labor market, and increasing the role of the private sector in localization. It also intends to enhance cooperation with organizations that train and employ and empower the national workforce with a purpose of increasing their adaptability and resilience in the labor market. Through programs and services, the fund has played a crucial role in influencing and enhancing the benefits for both individuals and businesses and has demonstrated adaptability to changes in the labor market. Also, the fund is in the process of developing targeted training, empowerment, and support programs for Saudi employees, and this will support Saudi Vision 2030 in human capacity development and labor market strategy. Red Sea Fund now open for post-production grants The Red Sea International Film Festival has now invited applications for the fourth phase of the Red Sea Fund, a financing platform that provides funding for post-production film projects. Filmmakers can apply until the 21st of August. The fund is intended for films that require some final touches after shooting and is open to projects of various genres, including documentaries, fiction, animation, episodic, short, and feature films. Applicants have to meet some qualification criteria, including being a director of Arab or African origin, and the films should be at least 60 minutes in length. Since its inception in the year 2021, the Red Sea Fund has catered more than 250 movies, launched industry supporting programs, empowering women in the movie industry, and financed student graduation films. It also takes part in international festivals and offers awards to the best projects. Saudi Arabia ranks first in Employment Growth Index among 67 countries According to the Global Competitiveness Yearbook 2024, Saudi Arabia has been ranked as the leading country in terms of employment generation and labor market growth amongst 67 countries. The country has achieved positive changes in all the labor market indicators, which has consecutively risen in global rankings: from 24th in 2022 to 16th in 2024. This is due to the Saudi government’s continuous reforms and amendments in labor laws with the purpose of improving the work... --- > Saudi Arabia's new mining licenses cover 1,000 sq km, attracting local and global investors to explore rich mineral sites like gold and silver. - Published: 2024-08-09 - Modified: 2024-10-14 - URL: https://analytix.sa/saudi-arabia-opens-bid-for-seven-mining-exploration-licenses/ - Categories: Daily News RIYADH: Saudi Arabia announces seven new mining exploration licenses, which covers around 1,000 square kilometers. This initiative was launched by the Ministry of Industry and Mineral Resources on August 7, and it seeks to encourage both local and global investors to explore these mineral-rich sites. The exploration sites are located in different regions, and they contain various valuable minerals such as gold, silver, lead, zinc, copper, and cobalt. Some of the sites include the Umm Qasr site in Riyadh which is rich in minerals like gold, silver, lead and zinc and the Jebel Sabha site in Riyadh which is rich in silver, lead, zinc and cobalt. There are gold, silver and copper deposits in the Wadi Doush site in the Asir region and Shuaib Marqan in Riyadh also has deposits of copper, silver and gold. The largest is in Wadi al-Jouna in Asir that covers an area of 425 square kilometers and contains deposits of copper, zinc, silver and gold. Other sites are Hazm Shubat in Asir which contains gold, and Huwaimdhan in Makkah which also contains gold. This bid is under Saudi Arabia’s Exploration Enablement Program, which contributes to Vision 2030’s goal of transforming the mining sector to be among the Kingdom’s main driving forces. The country’s mineral wealth is believed to be worth of SR 9. 3 trillion ($2. 48 trillion). Interested companies are required to submit their technical bids by the beginning of September 2024, and winners will be revealed by the end of the month. The evaluation will be transparent, with a major emphasis of 70% given to the technical expertise and the remaining 30% to the social contribution and innovation. New incentives such as financial support, foreign ownership allowance and financing options, fosters investment. All the information and reports are available at the ministry’s mining platform. --- > Planning to start a real estate business in Saudi Arabia? But don’t have much idea regarding the process involved? This Blog is for you! - Published: 2024-08-08 - Modified: 2024-09-03 - URL: https://analytix.sa/real-estate-business-in-saudi-arabia/ - Categories: Articles Saudi Arabia is witnessing a boom in the real estate business. With the implementation of Vision 2030 and the establishment of the Real Estate General Authority (REGA), the Kingdom is attracting both foreigners and nationals alike to invest in the real estate business in Saudi Arabia. Are you planning to start a real estate business in Saudi Arabia? But don't have much idea regarding the process and procedures involved? Don’t worry, read this blog where we have shared information based on the experience we have gained in this field. So let’s dive in! Benefits of Entering into the Saudi Arabia Real Estate Market Saudi Arabia offers a plethora of business opportunities in light of its Vision 2030 and Mega and Giga projects. Entering into the real estate business in Saudi Arabia provides one with numerous benefits like the few mentioned below: 1. Offers New Opportunities The real estate market in Saudi Arabia offers great opportunities and the government is working hard to attract investments and grow its economy by providing numerous opportunities in the real estate and construction sector of the country. 2. Growing Economy As one of the countries hosting a large number of immigrants, the economy of the country is growing. And the ambitious plan of the country like Vision 2030 is diversifying the economy and all these are making Saudi Arabia a fertile land for real estate investment. 3. Supportive Government The government of Saudi Arabia has been very open to the success and growth of the real estate business in Saudi Arabia and is providing many incentives and support for those who wish to start a real estate business in Saudi Arabia. 4. Open to both Domestic and Foreign Investments Saudi Arabia is very open to foreign investments and is encouraging the foreigners to start their business in the country, no matter if it is a real estate business or any other business, Saudi is open to potential investments from foreigners that can contribute majorly to its economic diversification efforts. Significance Of Real Estate Business in Saudi Arabia The real estate sector in Saudi Arabia plays a major role in the transformation of the nation to a non-oil-dependent economy. The real estate business in the Kingdom has emerged as a critical player in the country’s economic growth attracting investment from both local and international businesses. Through various mega and giga projects like NEOM, Qiddiya, the Red Sea Project, the government’s efforts for urban development and redefining the urban landscape are evident. Following is the list of the significance of real estate business in Saudi Arabia 1. Housing Sakani, the Saudi Arabian housing program initiated by the government aims to provide affordable homes to around one million citizens of the country thus reducing the housing shortage. 2. Commercial Real Estate Saudi Arabia is witnessing massive growth in the commercial real estate sector with a significant increase in the demand for office and retail spaces in the country. The commercial real estate sector is expected to see a... --- > New labor law in Saudi Arabia enhance job security and employee rights, aligning with Vision 2030 goals for a stable work environment. - Published: 2024-08-07 - Modified: 2024-10-14 - URL: https://analytix.sa/saudi-arabia-introduces-new-labor-law-changes-extended-maternity-leave-new-notice-policies-and-more-paid-leave/ - Categories: Daily News Saudi Arabia has recently declared major reforms to its labor laws in an effort to enhance job stability and protect employees’ rights. The Ministry of Human Resources and Social Development has stated that the new amendments will make the work environment more appealing; and the amendments will be in sync with Vision 2030. Key changes include: Paid leave for the passing of a sibling Extension of maternity leave to twelve weeks Paid leave rather than overtime pay Limiting trial periods of labor contracts to 180 days. Defined notice periods for terminating indefinite contracts: If issued by the employees they should not exceed 30 days and if by the employers, then they should not exceed 60 days. These updates seek to enhance the overall labor market, strengthen job security, safeguard employees’ rights, build human capital, focus more on worker training and increase employment opportunities for Saudi citizens. These amendments were brought in after numerous research and discussions, with input from more than 1,300 participants and various stakeholders. The changes include the alteration to 38 articles, the deletion of seven articles and the addition of two new articles in the labor law. These changes assist the market, production, and service sectors in an attempt to generate more employment, especially for the SMEs. New terms for “resignation” and “assignment” were included, as well as procedures to handle resignation and complaints from workers. New measures penalizing unauthorized recruitment activities were introduced, and employers were required to provide training and qualification policies. The proposed amendments will come into effect 180 days after their publication in the Official Gazette. More details can be obtained from the official website of the Ministry. --- > Hail, Qassim, and Asir municipalities launch investment initiatives in various sectors to boost regional development and economic growth. - Published: 2024-08-05 - Modified: 2024-10-14 - URL: https://analytix.sa/saudi-cities-announce-57-investment-opportunities-for-commercial-and-residential-sectors/ - Categories: Daily News RIYADH: Saudi Arabia’s Hail, Qassim, and Asir municipalities have launched 57 new investment opportunities across various sectors such as entertainment, sports, commercial, and residential. The purpose of this initiative is to boost economic development, promote the private sector and improve the living standard within these regions. According to the Saudi Press Agency, these opportunities are aimed at boosting economic development, enhancing the appearance of large cities, and increasing municipal revenues. This effort is in line with Saudi Arabia’s Vision 2030 that aims to support regional development and create a strong economy outside the major cities like Riyadh and Jeddah. In Hail, the municipality has launched 33 investment opportunities through the Saudi Cities Investment Gate (Furas) for the third quarter of 2024. These include two business complexes, a fuel station, a business kiosk, a store, multi-use areas, secondhand clothes store and two residential-commercial areas. There are four car maintenance centers, three pedestrian bridges, and 12 cash dispensers. The Qassim Municipality, particularly its Riyadh Al-Khabra branch, has declared six investment opportunities via Furas. These opportunities are open to private sector entities in the commercial, sports, entertainment and industrial sectors. The Dhahran Al-Janoub branch of Asir Municipality has announced 18 investment opportunities through the municipal investment website. These include sectors like commercial, sports and entertainment and industrial. The interested investors can get more information and get in touch through the Furas portal. The decision shows the country’s efforts to diversify its economy and foster to regional development as part of Saudi Arabia’s Vision 2030. --- > In this blog, we'll discuss major issues facing foreigners who wish to establish their business in Saudi Arabia. - Published: 2024-08-03 - Modified: 2024-08-03 - URL: https://analytix.sa/challenges-for-a-non-saudi-to-have-a-business-in-saudi-arabia/ - Categories: Articles Setting up a business in Saudi Arabia brings about an exciting opportunity and challenge for a foreigner. From geographical location to an agile economy and visionary ambitions through its Vision 2030, this kingdom comes as a splendid platform for international entrepreneurs or non-Saudi investors. The process of setting up a business in Saudi Arabia requires proper insight into local regulations and industry-specific requirements, besides a feel for the local culture. Here we address the complexities associated with the formation of companies in Saudi Arabia and identify major issues facing foreigners who wish to establish their presence within this dynamic market. 1. Understanding regulatory bodies Your first contact will be SAGIA- Saudi Arabian General Investment Authority. The body is responsible for FDI attraction into the Kingdom. You should understand their regulation and comply with them. 2. Sectorial regulation Priority is given to innovative and knowledge-based industries. If you can justify that your business will either bring value addition or technology transfer to the Kingdom, you can easily open a startup. 3. Recent Regulatory Changes The recent easing of rules for innovative firms can be helpful. You have to determine if you meet new regulations by considering whether you have or are going to get a patent, or if you are going to export products/technologies. 4. Location Considerations Choose the location for the start-up wisely. Saudi Arabia has several economic and industrial clusters like NICDP and KAEC. Techno-valleys—Dhahran Techno Valley, DTC, and Riyadh Techno Valley, RTV—offer very good environments for start-ups. They are most often associated with university technology transfer offices and industrial collaboration programs. 5. Saudization Requirements All businesses have to comply with Saudization rules to make a certain percentage of the workforce Saudi nationals. This number is increasing to 75%. A Saudi co-founder can help ease compliance and can make an entry easier into the market. 6. Need for a Saudi Co-founder A Saudi cofounder will deliver not only local market knowledge and networks but also an understanding of the intricacies of the local environment. This means using events like Riyadh Startup Weekend or Arabnet Conference to build your network and find a suitable partner. 7. Incubators and Accelerators Depending on the phase of your startup, there are various incubator and accelerator programs. Among them, the most prominent are BADIR Technology Incubators and Oasis 500. These two programs support foreign entrepreneurs with a Saudi founder on their board. The government-backed tech initiatives may flex a little if you can prove long-term value to the Kingdom. 8. Localization First of all, you need to localize your business. Consider local resources and industrial capacities available, the workforce, and the presence of universities and multinationals. Understand the needs of the local market by seeing what kind of business can help provide what is locally not available. Analytix can help you set up your business in Saudi Arabia. Analytix can help you ensure overall success in the dynamic and fast-moving Saudi Arabian business landscape. Drawing on years of experience as your on-ground partner in... --- > This blog helps you discover all key facts about industrial license in Saudi Arabia like industrial licensing requirements. - Published: 2024-08-03 - Modified: 2024-08-07 - URL: https://analytix.sa/industrial-license-saudi-arabia/ - Categories: Articles The industrial sector of Saudi Arabia is undergoing an incredible transformation, driven by the nation's Vision 2030 initiative. The industrial sector of Saudi Arabia plays a tremendous role in the economic diversification effort of the Kingdom, thus offering a plethora of opportunities in the sector for foreigners as well. An industrial license Saudi Arabia plays an important role in the working of industrial operations and production of goods in the Kingdom. As the requirements and procedure to obtain an industrial license in Saudi Arabia may vary from industry to industry, a thorough knowledge about the industrial licensing requirements are essential before you delve into the process of setting up your industrial business in the country. This blog helps you discover all key facts about industrial license in Saudi Arabia. So let's dive in ! Industrial Sector in Saudi Arabia - Key Facts The major industrial sectors of Saudi Arabia include mining, petrochemicals, manufacturing, desalination, and energy. The Saudi Ministry of Industry and Mineral Resources (MIMR) regulates the industrial operation in the Kingdom and has developed a National Industrial Strategy to increase the potential of the industrial sector in the country. Below are some of the key facts about the industrial sector in Saudi Arabia. In accordance with Saudi Arabia’s ambitious Vision 2030, the Kingdom of Saudi Arabia aims to increase its industrial exports to a value of $149 billion by 2030. Also the Kingdom aims to foster its industrial landscape with the help of National Industrial Strategy which includes 136 initiatives and 800 investment opportunities worth $266. 2 billion. The major aim of this comprehensive strategy is to attract investment and promote sustainable growth in the industrial sector. The key objective initiated in the National Industrial Strategy is to increase the number of factories in the country from 10640 to 36000 by 2035. The strategic location of Saudi Arabia has been advantageous as it give Saudi Arabia access to various regional market and position it as a hub of industrial operationsVarious Government initiatives like tax breaks, simplified procedure has been implemented to attract foreign investments Significance Of Industrial Sector In Saudi Arabia The industrial sector of Saudi Arabia offers significant opportunities, making it a promising land of opportunities. Below we list the significance of the industrial sector in Saudi Arabia, analysing the same will help you finalise why Saudi Arabia is a great choice for your next industrial project. Major Player in the Saudi Economy As the largest economy in the Middle East and North Africa (MENA) region, Saudi Arabia’s industrial sector holds well-developed infrastructure and is home to vast natural resources. The industrial sector contributes majorly to the economy of the country, consisting of both domestic and international trade. Economic Diversification The growing industrial sector of Saudi Arabia is contributing significantly to the GDP of the country thus helping the Kingdom to reduce its dependence on oil exports. Advancement in Technology With the growth of industrial growth, the country can explore innovation and adopt advanced technologies in manufacturing. Growing... --- > According to GASTAT, Saudi Arabia’s economy grew by 1.4%, and the oil sector rose to 1.3% and the non-oil sector rose to 1.4% - Published: 2024-08-03 - Modified: 2024-10-14 - URL: https://analytix.sa/non-oil-sector-contribution-to-saudis-gdp-rises-up-to-1-4/ - Categories: Daily News RIYADH: In the second quarter of 2024, Saudi Arabia’s economy grew by 1. 4% compared to that of the previous year, according to the General Authority for Statistics (GASTAT). The Kingdom’s oil sector rose to 1. 3% and the non-oil sector rose to 1. 4%. Government activities showed a significant rise by 3. 2% in Q2 2024 as compared to Q1. The development of non-oil sectors is crucial as the country is trying to stabilize the economy by reducing its dependency on oil revenues. Non-oil activities in 2023 recorded their highest by contributing 50% of the country’s GDP. Even though the economy grew in the second quarter, the overall GDP declined by 0. 4% year-on-year, driven mainly by an 8. 5% reduction of oil activities. This decline is due to Saudi Arabia’s cut in its crude oil output, a part of the OPEC+ deal. The Kingdom reduced its oil output by 500,000 barrels per day in April 2023, extended until December 2024. Non-oil activities increased by 4. 4% as of the same period the previous year and government activities increased by 3. 6%. Saudi Arabia’s Industrial Production Index increased to 0. 9% in May compared to April, although it declined by 2. 9% compared to May 2023 because of reduced oil activities. The International Monetary Fund (IMF) predicts a GDP growth of 1. 7% for Saudi Arabia by 2024 and for 2025, an increase of 4. 7% is expected. --- > Explore key updates: King Salman Stadium, $50B deals with China, Final Fantasy VII event, and Saudi-Chile mining talks. - Published: 2024-08-03 - Modified: 2024-10-14 - URL: https://analytix.sa/saudi-insights-saudi-arabia-announces-king-salman-stadium-with-more-than-90000-seating-capacity/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 28th June to 03rd August 2024 Saudi Arabia announces massive King Salman Stadium with over 90,000 seats RIYADH: Saudi Arabia revealed the designs of the King Salman Stadium, which is set to be a massive sports complex in northern Riyadh. The stadium with a seating capacity of over 90,000, is expected to be the headquarters for the Saudi national team and host other large sports events. King Salman Stadium is one of the key projects of Saudi Arabia’s Vision 2030, with an aim to diversify the economy by promoting sectors like sports and entertainment. The stadium will be equipped with all the state-of-the-art tech and world-class facilities that will enhance the experience of the fans. Its design complies with the highest international standards and incorporates environmental protection in its work. With the construction of the stadium, the tourism sector is expected to grow tremendously and create employment opportunities. This will act as a platform for local and international athletes to present their talent, which will generate a culture of sportsmanship and healthy living. The King Salman Stadium’s large-scale and sophisticated design is a perfect example of Saudi Arabia’s vision of adopting advanced ideas in construction. This new landmark will have a large role in the nation’s development initiatives and ensure that Saudi Arabia becomes the home of major sporting international games. Saudi PIF signs $ 50 bn worth deals with Chinese financial firms RIYADH: Saudi Arabia’s PIF has signed six big deals worth $50 billion with leading Chinese financial institutions. The Memorandum of Understanding (MoUs) was concluded with the Agricultural Bank of China, Bank of China, China Construction Bank, China Export and Credit Insurance Corporation, Export-Import Bank of China and the Industrial and Commercial Bank of China. The MoUs aim to encourage two-way capital flows through both debts and equities. This move is in sync with PIF’s medium and long-term strategy of diversifying the investment of the fund. As one of the largest sovereign wealth funds worldwide, PIF operates across various sectors including agricultural and multinational conglomerates. The agreements are in line with Saudi Arabia’s Vision 2030 plan aiming for the reduction of the kingdom’s dependency on oil revenues and the development of a sound private sector. This vision considers the need to diversify and sustain the economy. China has expressed interest in improving cooperation with Saudi Arabia in various fields like infrastructure, energy, green development and the digital economy. The Chinese government has further invited Saudi Arabian firms like PIF and the oil firm Aramco to branch out their operations into China. The partnership between Saudi Arabia and China seems to be a kind between the two countries for cooperation in the development of various sectors. Qiddiya to host Final VII Rebirth exhibition Qiddiya City: A hub for entertainment, sports and culture, will be partnering with Square Enix to present “Final Fantasy VII... --- > In this blog, we will discuss how Vision 2030, the country’s development plan up to the year 2030, and MISA’s actions make the kingdom favorable for international business ventures. - Published: 2024-07-31 - Modified: 2024-07-31 - URL: https://analytix.sa/vision-2030-and-misa-are-encouraging-foreign-companies-to-land-in-the-kingdom/ - Categories: Articles Saudi Arabia with its Vision 2030 and the Ministry of Investment of Saudi Arabia (MISA) is redesigning the framework for business setup in Saudi Arabia, enabling the Kingdom to become the most popular country for expansion of international companies. In this blog, we will discuss how Vision 2030, the country’s development plan up to the year 2030, and MISA’s actions make the kingdom favorable for international business ventures. Here we will be discussing the role of Vision 2030 and MISA in easing the investment practices, major sectors and opportunities for foreign investment, and successful expansion of foreign companies. Analytix with all its domain knowledge and years of experience continues to assist international business entities in realizing their business prospects and presence in the Kingdom of Saudi Arabia. Let us now take a look at the changes that came along with the initiatives launched by the Ministry of Investment under the pioneering Vision 2030. 100 % foreign ownership The Ministry of Investment has now allowed the right to 100% ownership of foreign companies which has enabled investors and businesses all around the world to expand their business and relocate their operations to the kingdom while enjoying the benefits of the strategic location of Saudi Arabia being the prosperous trade route. Speedy establishment MISA has reduced the requirements for the establishment of foreign companies by 54% through the automation of most of the procedures and processes. As a result, foreign companies can now start their operations in the kingdom in almost one-quarter the time required for establishment 5 years back. The Premium Residency The Kingdom of Saudi Arabia has now launched Premium Residency Centers intending to allow foreign investors to obtain a permanent or renewal residency upon meeting the requirements. This is done as a part of the kingdom’s efforts to facilitate the easier establishment of foreign companies and the ownership of assets, shares, and properties. The Qualified Foreign Investor Program To enable foreign investors to directly access the Saudi financial market, Tawadul (the Financial and stock exchange market of Saudi Arabia) now offers the ‘Qualified Foreign Investor Program’. Tawadul is the 9th biggest financial market in the world. Government-supported Industrial loans Foreign companies including the ones in Saudi Arabia are now eligible for industrial loans supported by the government up to a tenure of 20 years. The companies operating in the energy, logistics, mining industry, and fourth industrial revelation applications are eligible for these loans. Lower Interest rates Saudi Arabia is passionately aiming toward the privatization of government services and institutions under the pioneering Vision 2030. The Loan Program for investment projects in the private and public sectors comes with reduced interest rates, a grace period of 4 to 6 years, and repayment options of 22 to 25 years. Sustainable business environment The PIF now runs a comprehensive program, for the process of localizing and increasing supply chains intending to avoid any delays on projects and ensure the availability of materials and services at reasonable prices which would eventually lead to... --- > The 2nd MIPF in Riyadh on October 23-24 focuses on sustainable industrial policies, clean energy, and advanced manufacturing technologies. - Published: 2024-07-29 - Modified: 2024-10-14 - URL: https://analytix.sa/un-affiliated-industrial-forum-set-for-october-in-riyadh/ - Categories: Daily News RIYADH: The second Multilateral Industrial Policy Forum (MIPF) associated with the UN Industrial Development Organization (UNIDO) will be taking place in Riyadh on 23rd and 24th of October, 2024. This is the first time in which the event is being held outside UNIDO’s headquarters in Vienna. Hosted by the Ministry of Industry and Mineral Resources of Saudi Arabia, the forum will bring together ministers and leaders from across the world for industrial advancement. They will be focusing on policies, issues and strategies. The aim is to enhance the cooperation between Saudi Arabia and UNIDO and develop new industrial policies around the world and the region. The forum will include an exhibition of the industrial achievements and activities of Saudi Arabia to localize industries, where major projects will be highlighted. This is in accordance with Saudi Arabia’s Vision 2030 and the National Industrial Strategy aiming to enhance the industrial sector’s competitiveness and innovation. The primary topics that’ll be discussed at the forum will be the application of clean energy within industries, supply chain being made more adaptable, and usage of advanced technologies in manufacturing, such as artificial intelligence. Under the theme, ‘Turning Challenges into Sustainable Solutions: The New Era of Industrial Policy,’ the MIPF is expected to bring together approximately 3,000 industry leaders, decision-makers, CEOs and specialists who aim to enhance industrial policies. --- > In this blog, we will provide you with insights into the business relationship between Saudi Arabia and its counterpart countries within the GCC in the year 2024. - Published: 2024-07-27 - Modified: 2024-07-27 - URL: https://analytix.sa/saudi-arabia-and-its-business-relationship-with-other-gcc-countries/ - Categories: Articles The Kingdom of Saudi Arabia is the largest economy and most populated country within the GCC member states and it has a significant influence in the region. Anyone who wishes to invest in the KSA and other Gulf Cooperation Council regions must understand the dynamics of the business relations therein well enough. In this blog, we will provide you with insights into the business relationship between Saudi Arabia and its counterpart countries within the GCC in the year 2024. Below are some important facts that need to be discussed: Business Setup & Legal Framework National Treatment and Business Advantages for GCC Nationals:GCC nationals have a variety of privileges in comparison to the establishment of enterprises in Saudi Arabia. They enjoy legal status in Saudi Arabia and are regarded as Saudi nationals in Saudi legal frameworks, making the business setup in Saudi Arabia relatively easy. For instance, a GCC or Saudi national can bring in US$35,040 as initial capital, set up a company, and open a bank account all within three months. However, the lead time to enter the industry and the amount of capital necessary is different for foreign entrants. The GCC nationals have the freedom to start a GCC company in Saudi Arabia in any sector. Some sectors are still closed to investment from foreign parties (excluding GCC) hence making this a good provision for GCC investors. Saudization or KSA ownership does not apply 20% corporate income tax on companies owned by the nationals of the GCC countries, but only 2. 5% zakat tax. However, A 5% VAT is charged on all products and services regardless of the nationality of the company making the sale. Market Access and Trade Benefits Access to the GCC Common Market:All the companies in Saudi Arabia, including FDI companies, have the option of accessing the GCC common market area. This includes incentives which are; imports for most goods manufactured in the member country of the GCC are relieved of duty. Foreigners residing in any of the GCC countries except Saudi Arabia are allowed a visa on arrival in any other country of the GCC hence they are free to traverse the region. Labor Movement and Restrictions on Foreigners Movement of Labour:However, like any other element of the common market, there is no free movement of labour in GCC states as regards the expatriate workers. This remains a major issue, especially for companies relying on a mobile workforce. Thus, all the GCC countries have placed certain limitations on FDI and ownership by foreign investors in their countries. This is a challenge that investors, especially from other countries planning to start a company or invest in the region face. Local Entrepreneurs and Foreign Investors Protection for Local Entrepreneurs:The GCC laws have the interest of protecting local business persons over foreign investors. This is particularly evident in the Kingdom of Saudi Arabia. Nonetheless, foreign investors who have strong connections and influence within the local communities, known as ‘wasta’ will always have a wide variety of profitable opportunities.... --- > This blog will discuss the best countries to set up a business in 2024. The list is finalised after considering several factors. - Published: 2024-07-27 - Modified: 2024-07-27 - URL: https://analytix.sa/best-countries-to-set-up-a-business/ - Categories: Articles Are you planning to expand your business to new geographic locations? Feeling confused over which are the best countries to set up a business? Choosing the right destination is very important and can be a game changer for both budding and established businesses alike. Through this blog we will discuss the top countries you can consider to set up your business in 2024. The list is finalised after considering several factors like favourable economic policies, access to talent, potential of the market and infrastructure, etc. . Choose the one that rightly matches your requirements. So let's get started! 1. Saudi Arabia With the launch of Vision 2030, and effort to diversify its economy, Saudi Arabia is one of the best country to open a business. In its economic diversification effort to transform its economy to a non oil dependent country, the Kingdom of Saudi Arabia is open to foreign investment on various sectors like tourism, technology, infrastructure, etc. Its strategic geographic location, tax incentives, blooming market and various economic reforms makes Saudi Arabia the best country to set up business. Seeking professional help to set up business in the Kingdom of Saudi Arabia can ease your business set up efforts. Analytix can be your perfect partner to set up business in Saudi Arabia, as we can guide you through the whole complex process involved. 2. UK Stable political environment and world class financial services make the UK the best country to start a company. Setting up business in the UK includes numerous advantages like a skilled workforce, access to international markets, a business friendly environment, etc. But to understand the complex business setup law in the country, it is always preferable to seek the advice of business consultants like Analytix. With more than decade long experience of working in the country, we are well aware of the complex legal requirements required to start a business in the country. 3. India India is one of the fastest growing economies in the world and thus offers vast and diverse business opportunities. Young workforce, cost efficiency, various business initiatives like “Make in India”, “Startup India”, position India as one of the best countries in the world to do business. Apart from this, burgeoning IT and software industry and diverse consumer base are other factors that makes India a best country for doing business. With the experience gained over the years, we have helped thousands of businesses to get started in India. Our expertise in the field helps us to satisfy our clients with right advice on business setup in India. 4. USA The United States is one of the best destinations to start your business in 2024. As the largest economy in the world, it offers a dynamic and vibrant economic environment and has significant consumer spending power. Being one of the global leaders in innovation and technology it offers a wide variety of business opportunities. The country’s pro-business policies and incentives make it the best countries to run a business. The diverse... --- > Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. From 21st June to 27th July 2024 - Published: 2024-07-27 - Modified: 2024-08-31 - URL: https://analytix.sa/saudi-insights-saudi-arabias-electric-car-market-sees-a-surge/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 21st June to 27th July 2024 Riyadh sees a notable growth in office market in the first half of 2024 RIYADH: Savills’ latest reports revealed that Riyadh’s office market has shown a great deal of growth in the first half of 2024. This growth indicates development of Saudi Arabia’s non-oil sector. The Office market in the first quarter of 2024 increased by 3. 4% from that of the previous year, against expectations. It is predicted that the overall economy will grow by 5% this year, backed by the ongoing non-oil activity. Currently, the inflation rate is low at 1. 6% year-on-year and the constant Purchasing Managers’ Index (PMI) at 56. 4, which suggests expansion, are considered positive signs for the business environment. FDI rose up by 5. 6% year-on-year in the first quarter, driven by Saudi Vision 2030’s aim to attract foreign capital and provide investment incentives. Riyadh has been experiencing an inflow of foreign companies relocating their headquarters. Over 120 foreign firms relocated to Riyadh in the first quarter of 2024, a 477% increase from the previous year. Major international firms such as PayerMax and Ernst & Young have set up their headquarters in the city. There’s been a high demand for leasing, especially in sectors like Technology, Media & Telecommunications, Consulting & Engineering and Manufacturing. The new-entrant firms accounted for 50% of the leasing deals, representing strong market optimism. There’s a higher demand for office spaces that are not more than 1,000 square meters. Rental rates also increased with Grade A office space getting almost fully occupied with a 98% occupancy rate. Rents hiked by 3% from the previous quarter and 13% year-on-year with some regions witnessing more inclines. Further, by the end of 2025, another 650000 square meters of office space is expected, which is again likely to enhance the tenant choices and prevent the supply crunch on rent. AlUla, first Middle East destination to gain US accreditation RIYADH: One of the top tourist spots in Saudi Arabia, AlUla, has set a record by being the first place in the Middle East to be accredited by Destinations International – a US-based organization. This achievement, covered by the Saudi Gazette shows AlUla’s efforts in matters of quality and professionalism in tourism. The accreditation is in the Destination Marketing Accreditation Program (DMAP) and comes one year after AlUla signed up as the first region member of Destinations International. This certification aims at identifying destination marketing organizations that have complied with various criteria in different aspects which include governance, stakeholder engagement, financial management, and destination development. AlUla had to meet more than one hundred Performance Benchmarks, to be awarded this status. This achievement adds to the numerous recognitions acquired by AlUla within the recent years, including AlUla being the Middle East’s leading cultural tourism project for the second year running at the World Travel... --- - Published: 2024-07-26 - Modified: 2024-07-26 - URL: https://analytix.sa/saudi-arabias-non-oil-exports-rise-to-7-70bn-in-may/ - Categories: Daily News RIYADH: Saudi Arabia has experienced growth in its non-oil exports reaching $7. 70 billion in May, a two-year high, with 8. 2% increase from May 2023 and a 26. 93% increase from April, based on data provided by the General Authority of Statistics (GASTAT). This growth is in line with the Kingdom’s efforts to develop non-oil sectors of the country. Total merchandise exports also rose by 5. 8% from last year and 4. 9% in oil shipments. Moreover, from April to May, merchandise exports increased by 3. 3%. The share of oil in total exports fell slightly to 72. 4% from 73% of the last year. The non-oil exports including re-exports to imports ratio increased from 39% to 41. 1%, mainly because of an 8. 2% and 2. 6% increase in non-oil exports and imports respectively. Among the non-oil exports, chemical and allied products are at the top, contributing 23. 8% of the total shipments. On a year-on-year basis, imports rose by 2. 6% reaching $ 18. 72 billion, with machinery and electrical topping at 26. 7% of the total imports. China was Saudi Arabia’s major trading partner with $ 4. 24 billion in exports, followed by South Korea with $ 2. 75 billion and India with $ 2. 16 billion. Other main export partners were the UAE, Japan, Bahrain, the US, Poland, Taiwan, and Malta. China took a major share in imports with 25% of incoming shipments. King Abdulaziz Sea Port in Dammam was the most used entry point in the kingdom for importing goods worth $4. 41 billion, accounting 23. 6% of total imports. --- - Published: 2024-07-24 - Modified: 2024-07-24 - URL: https://analytix.sa/saudi-arabia-and-turkiye-strengthen-ties-to-advance-industrial-and-mining-sectors/ - Categories: Daily News RIYADH: Saudi Arabia and Turkiye have been strengthening their ties to boost industrial and mining sectors after the recent held meetings which was focused on improving trade, non-oil exports and attracting quality investments. Khalil bin Salamah, Saudi Arabia’s Deputy Minister of Industry and Mineral Resources, visited Turkiye to assess investment prospects and address potential industrial development. This visit continued the discussions that were initiated by Saudi Minister Bandar Alkhorayef back in August 2023. The trade between Saudi Arabia and Turkiye in 2023 was $6. 8 billion, with Saudi investments going over $2 billion. Turkiye also considers the prospects of expanding bilateral trade to $10 billion in the coming years. While in Turkey, Salamah met with President of the Defense Industry Agency and Deputy Secretary-General of the Turkish Exporters Assembly. He also led a meeting with Saudi and Turkish business representative to discuss on cooperation opportunities. Earlier, Saudi Arabia’s foreign minister, Prince Faisal bin Farhan, had a meeting with Turkish President Recep Erdogan over the ways of enhancing the Saudi-Turkish relations and promoting stability in the region. Prince Faisal also held a meeting with his Turkish counterpart who expressed significant progress in Saudi-Turkish relations in the political, economic and security sectors. --- - Published: 2024-07-23 - Modified: 2024-07-23 - URL: https://analytix.sa/saudi-arabia-announces-to-grant-5-licenses-to-push-mineral-exploration/ - Categories: Daily News RIYADH: Saudi Arabia has recently declared its largest mineralized area yet comprising of 4,788 sq. km and offered five new mineral exploration licenses. Three of these licenses are specifically for Jabal Sayid site in Madinah, covering an area of 2,892 sq. km. and has deposits of gold, silver, copper, zinc and lead and the other two licenses are for Al-Hajjar site in the Asir region covering an area of 1,896 sq. km. with the deposits of the similar minerals. The objective of this initiative is to speed up the exploration and development of the mineral sites in the country, estimated to be of SR 9. 3 trillion ($ 2. 4 trillion). It helps with the country’s plan to make mining a part of the economy and aligns with Vision 2030. The competition for these licenses will go through several stages which are qualified lists, release of information, proposal assessment and announcement of the winners. The Ministry’s spokesman, Jarrah bin Muhammad Al-Jarrah said that this decision will attract more international and local mining firms. It is believed to advance the energy transition, boost other sectors, raise spending on exploration, enhance the national geological database, generate jobs, and promote sustainable economic development. A report published by the MineHutte and the Mining Journal revealed that Saudi Arabia has been experiencing a steep increase in its mining investments and enhancements in its regulatory and infrastructural environment. The Kingdom has raised its mining licensing index to the second-best in the global ranking. The ministry, along with the Ministry of Investment, recently launched new incentives of up to SR 7. 5 million to firms that have valid exploration licenses for less than five years. --- > Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. From 14th June to 20th July 2024 - Published: 2024-07-22 - Modified: 2024-08-31 - URL: https://analytix.sa/saudi-weekly-insights-saudi-arabia-sets-new-record-in-the-tourism-sector/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 14th June to 20th July 2024 Kaden and DB Schenker team up to expand in Saudi market with new logistics projects The real estate and property management firm Kaden has secured a partnership deal with the German firm DB Schenker, a logistics and transportation giant. The deal was signed at Kaden’s Riyadh office in the presence of the CEO of Kaden, Engineer Mohammad Al-Othman, and the vice president of DB Schenker, Contract Logistics and SCM Middle East and Africa, Ako Djaf. This partnership aims to grow and diversify the logistics sector in Saudi Arabia and create custom-made warehouses for DB Schenker’s operational needs. Kaden is distinguished by its high-level projects and integrated services, one of which is the “The Logistics Park” in Riyadh, aimed at providing innovative ideas for improving operational efficiency. Engineer Mohammad Al-Othman was excited about the partnership, as Kaden has already succeeded in setting up specific logistic areas with high-quality infrastructure. He believes that this collaboration will expand the logistics sector in Saudi Arabia. Ako Djaf also indicated that the partnership will enhance DB Schenker’s efficiency pf logistics services through advanced facilities and to cater for Saudi Arabia’s Vision 2030. The partnership will transform Saudi Arabia into a major logistics country, increase employment, boost economic growth, and attract the world’s best firms. This is an effort by the private sector in the kingdom to achieve Saudi Arabi’s Vision 2030’s goal of raising the status of kingdom as a logistic hub and thereby boosting economic development and employment. New record set by Saudi Arabia in Tourism sector Saudi Arabia recorded 60 million tourists in the first half of 2024, spending SR143 billion ($38. 1 billion), according to Tourism Minister Ahmed Al-Khateeb. During a press conference, Al-Khateeb announced the Kingdom’s tourism advancements due to various tourist attractions and favorable climate, particularly in the Aseer region which has cooler temperatures than most cities around the world. The current third Aseer Season, lasting until September 1 has many cultural offerings where guests can visit places like Abha, Rijal Alma and Shada Palace Museum. The Soudah Peaks are the highest in Saudi Arabia at 3,015 meters and provide a very luxurious mountain experience. Al-Khateeb attributed these to Vision 2030 especially in tourism which has been enhanced by The National Tourism Strategy launched in 2019 and a new tourist visa. He also talked about the program of Bachelor of International Hospitality Management, a collaboration by Ministry of Tourism, King Khalid University, and Hongkong Polytechnic University for the development of tourism skills. The minister promised 10,000 training opportunities for the people who are in the Aseer region in the tourism sector. The National Tourism Strategy sets the target of 150+ million tourists by 2030, a rise from 109 million in 2023. The Tourism Development Fund has allocated SR7. 4 billion to facilitate more than 100 tourism projects worth... --- > Facing difficulty in obtaining a trade license in Saudi Arabia? This blog will give an overview of how to get a commercial license in Saudi Arabia. - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://analytix.sa/trade-license-in-saudi-arabia/ - Categories: Articles Saudi Arabia is a budding leader in international commerce. The major projects like Vision 2030 and Giga and Mega projects offer numerous business opportunities in the country. Its strategic geographic location makes it a hub for international trade. Planning to procure a trade license in Saudi Arabia to expand your business globally? But facing difficulty to obtain a trade licence? Don't worry, this blog will give a comprehensive overview regarding how to get a commercial license in Saudi Arabia. Trade Sector in Saudi Arabia - Key Facts The strategic geographic location of Saudi Arabia as a major trade hub between Asia, Africa and Europe, positions Saudi as the global player in international trade. With 13 ports on the Arabian gulf and Red sea, the Kingdom of Saudi Arabia offers immense opportunities for world wide trade and accounts for about 13% of global trade. Saudi ports play a huge importance in the country's net worth by accounting for 70% of imports and 95% of exports through 291 docks. The competitive infrastructure and use of robust technology and machinery helps the easy movement of goods in and out of the country smoothly. The establishment of free trade agreements with several economic blocs and nations like Greater Arab Free Trade Area (GAFTA), the European Free Trade Association (EFTA), and Singapore provides an added advantage to the trade sector of the country, facilitating opportunities for the businesses operating in the country by reducing the barriers and providing economic corporations. The growing import and export market is a great addition to the country’s income. The government initiatives like Vision 2030 provide a business friendly environment for international business and trade. The booming trade sector plays an important role in the economic diversification efforts of the country to transform to a non oil dependent economy. Saudi Arabia is promoting foreign investments in the trade sector of the country by providing numerous incentives and opportunities. Also the key trading partners of the country are Gulf Cooperation Council (GCC) countries, China, the United States, and various European nations. Significance Of Trade Sector In Saudi Arabia The Kingdom of Saudi Arabia encourages investment in the trade sector to boost its efforts to change to a non oil dependent economy. Below are the significance of trade sector in Saudi Arabia. It helps the import and export of the country thus supporting local industries and demands of the customers. Trade sector helps the growth and diversification of the country’s economy. Creates employment opportunities in various sectors including transportation, logistics and retail. Helps to collaborate with international partners thus helping the country’s global economic integration efforts. Helps to introduce new products, business models and services Commercial Licensing Requirements In Saudi Arabia Inorder to obtain a trade license in Saudi Arabia, there are many requirements to be met by the individuals. A commercial licence can be obtained by a foreigner in 2 ways. Either they can obtain a 100% Foreign Commercial License or they can opt for a Commercial License with a Saudi... --- > Here, you will find the advantages, the things to consider, transportation, culture, viable business, and employment in the Kingdom of Saudi Arabia - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://analytix.sa/living-in-saudi-arabia/ - Categories: Articles The Kingdom of Saudi Arabia has a rich historical and cultural background with most of the advanced facilities and infrastructure. It has a population of 35 million with expatriates, and foreigners who prefer to work in KSA contributing to more than one-third of the population of this kingdom. There are a lot of opportunities in investment and business opened under Vision 2030 and investors from foreign countries are finding it extremely appealing to live and work in the Kingdom. Here, you will find the advantages, the things to consider, transportation, culture, viable business, and employment in the Kingdom of Saudi Arabia. Analytix has included important details about the aspect of life in KSA here as someone who has direct experience in the context of Saudi Arabia. If you are planning to move to Saudi Arabia or you just wish to know more about the place, then this blog is for you. Before going anywhere, do you want to know some serious facts about Saudi Arabia? Here, have a look. Population: 35 million with 13 million ex-pats. (estimated)Capital City: Riyadh (the largest city, with 7. 6 million population)Official Language: Arabic, though English is widely used in business and government servicesInternet Domain: . saElectricity: 125 or 220V, 50Hz, with various plug typesTime Zone: GMT+3Traffic rule: Drives on the rightPolitical System: Islamic absolute monarchy Advantages of Living in Saudi Arabia As a country that is rich in culture and history, with a modern infrastructure and amenities, moving and living in Saudi Arabia is going to get you a lot of advantages. Let us take a look at some of them. High-Paying employment opportunitiesModern and sophisticated infrastructure and facilitiesTop-quality healthcareRich cultural experiencesCost-efficient livingTax-free IncomeGood opportunities for education. Factors to Consider Before Relocating to Saudi Arabia Before making the decision to move, relocate, and live in the Kingdom of Saudi Arabia, there are several factors to be considered and researched in detail. We have come up with a list of some important factors to be taken into consideration. laws and regulations of the kingdomcultural and societal restrictionsliving expensesoptions for educationfacilities of healthcareoptions for entertainmentclimate and weather conditionsparticipation and opportunities for women Cost of Living in Saudi Arabia The cost of living in Saudi Arabia is generally lower when compared with many other GCC and non-GCC countries. This is evident in the expenses related to housing and food. However, like any other place, the cost of living varies depending on the lifestyle of individuals and their place of living. Some of the expenses to be considered are:Housing (Accommodation)FoodTransportationMiscellaneous costs (personal expenses, entertainment, leisure, etc. )Another special feature of Saudi Arabia is the tax-free income and this can offset the cost of living, making the kingdom a cost-effective location. Starting a Business in Saudi Arabia Saudi Arabia, the largest economy in the Arab world, appears in the ranks of the top 20 global markets and presents a plethora of opportunities for entrepreneurs, businesses and Investors. According to Vision 2030, diversifying the economy will make this kingdom the... --- > Planning to start a business in Saudi Arabia from UAE? This blog will explain you how to process a company formation in Saudi Arabia from UAE. - Published: 2024-07-19 - Modified: 2024-07-28 - URL: https://analytix.sa/start-a-business-in-saudi-arabia-from-uae/ - Categories: Articles Planning to start a business in Saudi Arabia from UAE? But confused how to establish your business in this foreign land? This blog will explain you how to process a company formation in Saudi Arabia from UAE. So let's get started ! Types of Companies a UAE National Can Setup in Saudi Arabia A UAE national can set up various types of companies in the Kingdom of Saudi Arabia. They can benefit from several agreements and initiatives established to boost the economic cooperation between the GCC countries. Below we list the types of companies that can be formed by a UAE national in Saudi ArabiaLimited Liability Company (LLC)Joint Stock Company (JSC)Branch of a Foreign CompanyRepresentative OfficeJoint VentureSole ProprietorshipProfessional Services Company Advantages of Expanding or Starting a Business in Saudi Arabia from UAE Starting or expanding your business in Saudi Arabia from the United Arab Emirates offers great opportunities for UAE entrepreneurs and established businesses. The close proximity of both the countries and similar cultures is an added advantage for the UAE nationals to start their business in Saudi Arabia. Wondering what are all the advantages awaiting you, when you start or expand your business in Saudi Arabia? Have a look at the points below. Saudi’s growing economy provides a stable ground for business setup in Saudi Arabia from UAEGovernment initiatives like Vision 2030 offers new investment opportunities in KSASaudi Arabia is the largest market in the middle east with great consumer base Strategic location of Saudi Arabia offers significant business opportunities as it serve as the gateway to Africa, Europe and AsiaSpecial Economic Zones of Saudi Arabia offers tax incentives, simplified procedures and other benefits in business formationsModern infrastructure and easy transportation supports business operationsOpportunity to be part and participate in the Mega and Giga projects of Saudi Arabia Legal Requirements To Set Up a Business in KSA To Incorporate business in Saudi from UAE one has to follow certain legal requirements. Though the legal requirements may vary from business to business, there are certain legal requirements that are common to every type of businesses and here we list them below. In order to set up business in KSA, the UAE national has to establish either their branch, rep office or subsidiary company with full ownership or partnership with any Saudi citizen. Also other requirement is that the UAE company has to be functioning for at least one year and they have to submit audited financial statements of the previous financial year. Apart from this, the UAE company has to make ready the following documents:Company Incorporation Documents including Trade License, Commercial Registry etc. Power of AttorneyMemorandum of AssociationLocation of UAE companies matters a lot, and documents to be submitted depend largely on whether the company is located in the free zones or mainland of Saudi Arabia. If the company is located in the free zones of Saudi Arabia, then certificates like the Share Certificate or Certificate of Incumbency, Certificate of Incorporation or Registration, or Good Standing Certificate would be required.... --- - Published: 2024-07-17 - Modified: 2024-07-17 - URL: https://analytix.sa/saudi-pif-finalized-3-deals-to-improve-renewable-energy-component-manufacturing/ - Categories: Daily News RIYADH: Saudi Arabia’s Public Investment Fund (PIF) on July 16 signed three major agreements to boost the Kingdom’s renewable power sector. The agreements are to stimulate local production of renewable energy component to help Saudi Arabia with its sustainability goals. Key Deals: TCL Zhonghuan Renewable Energy Technology Co. : The partnership worth $ 2. 8 billion involves the construction of a solar power production plant in Saudi Arabia. The joint venture (JV) will encompass manufacturing solar photovoltaic ingots and wafers with a capacity of 20GW per year. Both RELC and Lumetech S. A. PTE. will hold 40 percent of the JV while Vision Industries will hold 20 percent. Envision Energy: This deal focuses on the production of wind turbine components like blades with an estimated annual capacity of 4 GW. RELC will hold 40% of the JV, while Envision and Vision Industries will hold 50% and 10% respectively. Jinko Solar: This agreement will encourage localization of the production of photovoltaic cells and modules for high-efficient solar generation, aiming to get 10GW capacity per year. RELC and Jinko Solar will own 40 percent each of the JV, while Vision Industries will have a 20 percent share. These initiatives are in line with Saudi Arabia’s objective to produce 50% of its electricity from renewable sources by 2030. The agreements also seek to localize 75% of all components that are used in renewable projects, as set forth by the Ministry of Energy’s National Renewable Energy Program. According to Yazeed Al-Humied, the deputy governor of PIF, these projects will make Saudi Arabia a hub for renewable technology exports. Currently, the PIF, through Acwa Power and Badeel, is developing eight renewable energy projects with a total capacity of 13. 6 GW, involving more than $9 billion in investments. Additionally, Saudi Arabia’s Minister of Energy, Prince Abdulaziz Al-Saud created the Geographic Survey Project for Renewable Energy to pinpoint the areas in the Kingdom suitable for solar and wind power. --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://analytix.sa/thailand-opens-first-investment-office-in-riyadh-to-strengthen-economic-ties-with-saudi-arabia/ - Categories: Daily News RIYADH: Saudi Arabia and Thailand are expanding their economic ties with the opening of Thailand's first Board of Investment (BOI) office in Riyadh. This new office will improve the ties between the private sectors of the two countries. Speaking at the Saudi-Thailand Investment Forum, the Minister of Investment Khalid Al-Falih stressed the importance of the new office pointing out that the trade between both countries has gone up to $8. 8 billion in 2023 from $7. 5 billion in 2022. Al-Falih emphasized that the establishment of the new office will prompt continued growth in trade and investments, especially of sectors such as agriculture, processed food, renewable energy, healthcare and automotive industries. Thailand’s BOI office will target 13 Middle Eastern countries and is a part of Thailand’s strategy to encourage investment from the region. The office will also offer services to Saudi investors who want to expand their businesses in the Southeast Asia. The forum also included signing 11 agreements between Thai and Saudi business entities, particularly energy, infrastructure, agriculture and other sectors. Thailand’s Minister of Foreign Affairs, Maris Sangiampongsa announced that the upcoming International Mega Fair 2024 is set to be held in November. This event will encourage exports in various industries including construction materials, hospitality, and defense technology. Recent investment growth in Thailand has mainly been attributed to huge direct foreign investment in green industries, automobile, electronic and digital industries. The new BOI office is expected to build on this momentum and guarantee mutual economic advantage to both the countries. --- > If you are a Qatari planning to start a business in Saudi Arabia from Qatar then this blog is for you. - Published: 2024-07-15 - Modified: 2024-07-28 - URL: https://analytix.sa/start-a-business-in-saudi-arabia-from-qatar/ - Categories: Articles The Kingdom of Saudi Arabia is on its journey to achieve Vision 2030 goals and diversify its economy, thus reducing its dependence on oil revenue. In this context, KSA offers numerous opportunities for business development and expansion. The Kingdom is welcoming more and more foreign investments and now starting a business in Saudi Arabia from Qatar has been made easy. If you are one among so many Qataris planning to start a business in Saudi Arabia from Qatar then this blog is for you. Read the blog and gain a better understanding on business formation in Saudi Arabia from Qatar. What are the Types of Companies a Qatar National Can Setup in Saudi Arabia? Saudi Arabia’s initiative for its economic diversification offers numerous business opportunities for Qatar nationals. Below we have listed the types of companies a Qatar national can set in the Kingdom of Saudi Arabia. Limited Liability Company (LLC)Joint Stock Company (JSC)Branch of a Qatar CompanyRegional Headquarters General Partnership CompanySpecial Economic Zone Advantages of Expanding or Starting a Business in Saudi Arabia from Qatar Company formation in Saudi Arabia from Qatar offers numerous advantages. Similar culture and close proximity of the regions ease the business formation. Now let's look in detail what are the advantages awaits a Qatar national in setting up business in Saudi Arabia. No requirement of MISA licenseLiberty to operate from any sector of Saudi ArabiaMinimal delays in setting up businessNo minimal capital is required for tradingLower Zakat tax rate of 2. 5%Exemption from paying 20% income tax that other non GCC nationals has to payFreedom to do different business structures Talk to an Expert Legal Requirements to Setup Business in KSA To set up a business in Saudi Arabia, one has to satisfy certain legal requirements. Though it may vary from business to business, there are some common laws that every foreign business has to follow to set up business in the country. In order to incorporate a business in Saudi from Qatar, a Qatari business has to set up its branch or subsidiary company in a partnership or full ownership with a Saudi citizen. Also, the Qatari company has to submit its previous year’s audited financial statements to prove that the company was functioning successfully for the past year. Also, the Qatari business has to make ready the below mentioned documents for a business setup in Saudi Arabia from Qatar. Company Incorporation Documents including Trade License, Commercial Registry etc. Power of AttorneyMemorandum of AssociationAlso, other documents have to be submitted based on the nature of the business, location, etc. Steps to Register your Business in Saudi Arabia from Qatar With right guidance and following the correct procedures, setting up a business in Saudi Arabia from Qatar wouldn't be a hectic process. Below we list the steps to be followed to start a business in Saudi Arabia from Qatar. Get registration approval from the Ministry of Investment (MISA)Commercial registration at the Ministry of Commerce has to be doneRegister you company with several government departments... --- > Saudi Arabia FinTech sector is one of the fastest-growing industries within just five short years. - Published: 2024-07-13 - Modified: 2024-07-13 - URL: https://analytix.sa/start-a-saudi-arabia-fintech-company/ - Categories: Articles Saudi Arabia has rapidly made its FinTech sector grow and turn into one of the fastest-growing industries within just five short years. The country enjoys a booming population of tech-savvy, and smartphone-ready young people (almost 70% are under 35) as well as extensive internet penetration. The above factors together make the industry of fintech bloom and foster new financial solutions designed to cater to ever-changing consumer needs. In this transformation, Saudi Arabia's Vision 2030 is crucial and plays a key role in creating the right ecosystem to bring many fintech companies globally with its regulatory reforms. However, with the steps that have been taken lies some challenges for KSA to earn a spot as one of the leading fintech hubs internationally. As an industry player with high expertise in the Saudi Arabian business landscape, Analytix through this blog, will help you explore the progress being made by Saudi in which milestones are achieved and emerging fintech services while focusing on strategic priority areas that must be taken to avoid missteps and ensure future growth. The Journey of the Fintech Sector in Saudi Arabia The fintech sector in Saudi Arabia has dramatically grown and changed over the past five years. It all began in April 2018, with an initiative by the Saudi Arabian Monetary Authority (SAMA) and the Saudi Capital Market Authority (CMA) moving to open the launch of Fintech Saudi. This initiative was taken so that Saudi Arabia would be at the top of its game in the MENA region of being a fintech hub with a supportive ecosystem for innovation and growth in this particular sector. Major drivers for this growth include the Accelerator program, Career Fair, Fintech Tour, and Summer Sessions by Fintech Saudi. Since its inception, the number of FinTech companies in Saudi Arabia has grown twentyfold, with more than SAR 4 billion (nearly US $1 billion) invested in the sector, and over 100,000 participants in events and training related to this area. The national Fintech strategy was approved in May 2022 as part of the ambitious Vision 2030. The strategy addresses six critical pillars such as making Saudi Arabia the regional hub for Fintech in the Middle East, creating a conducive regulatory environment to facilitate growth and innovation, funding for start-ups, building skills, and upscaling training, speeding up the support infrastructure, and creating local and international collaboration. The Vision 2030 plan lays down ambitious objectives, including that at least 525 fintech companies become established, creating 18,000 fintech jobs with a contribution of SAR 13. 3 billion to the GDP and achieving SAR 12. 2 billion in net venture capital contributions by 2030. This has led to the number of firms in this fintech sector in KSA growing from 89 in 2022 to over 200 in 2023. More convenient systems of payments, alternative financing platforms including debt crowd funding, and improved servicing integration through the aggregation of platforms were among the key developments in the 2022 SAMA Annual Fintech Report. This was a result of a number... --- - Published: 2024-07-13 - Modified: 2024-07-13 - URL: https://analytix.sa/diriyah-awards-2bn-contract-for-mixed-use-district/ - Categories: Daily News RIYADH: Diriyah, the heritage city in Saudi Arabia, has granted a contract of SR7. 8 billion ($ 2 bn) for developing a new district with educational institutions, cultural venues, and a luxury hotel. The project is set to begin in the third quarter of the year, and it involves the El Seif Engineering and China State Construction firms. This project falls under Saudi Arabia’s ambitious plan to reduce the country’s dependence on oil revenue by boosting other sectors including tourism. When finished, the district will accommodate 100,000 people and include cultural, entertainment, and retail, hospitality, educational, and residential spaces. Jerry Inzerillo, the CEO of Diriyah Co. , said this deal is a milestone in Diriyah’s development plan to make Diriyah a tourism hub. The deal also showcases the strong business partnership between Saudi Arabia and China. Diriyah, located near Riyadh, is home to the UNESCO World Heritage Site of At-Turaif, the historic capital of the first Saudi State. Inzerillo was appointed as UN Tourism ambassador in April, joining the group of Lionel Messi, Giorgio Armani, and Plácido Domingo. --- > Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. From 08th June to 13th July 2024 - Published: 2024-07-13 - Modified: 2024-08-31 - URL: https://analytix.sa/saudi-weekly-insights-riyadh-to-rank-amongst-top-15-fastest-growing-cities-by-2033/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 08th June to 13th July 2024 17% surge in passenger traffic for Saudi Arabia’s Civil Aviation sector RIYADH: The civil aviation sector in Saudi Arabia showed a remarkable rise in the first half of 2024. The passenger traffic grew by 17% to 62 million people, with 446,000 flights in total, up by 12% recorded in the last year 2023. Air Cargo traffic also experienced an increase standing at 606,000 tonnes, an up by 41%. This is in line with the Kingdom’s vision to increase passenger traffic to 330 million people per year, connect to more than 250 places and increase the air cargo capacity to 4. 5 million tonnes by 2030. King Khalid International Airport was at the forefront of this growth with 17. 7 million passengers and 132,000 flights, a year-on-year increase of 21% and 15% respectively. King Abdulaziz International Airport saw an increase of 16% to 24 million in passenger traffic and flights by 13% increase to 148,000. King Fahad International Airport achieved 6 million passengers and 45,000 flights with each having a growth of 15% rate. Prince Mohammed bin Abdulaziz International Airport recorded 5. 6 million passengers and 39,000 flights, an increase by 20% and 22% respectively. Other airports in the country together serve 8. 8 million passengers, a 13% growth and 83,000 flights, an 11% growth. These achievements were presented in the 13th meeting of the Aviation Sector Strategy Activation Steering Committee headed by the President of the GACA, highlighting the sector’s achievements in the beginning of 2024. Saudi Cabinet sanctions the mining deals with Jordan, Gabon and Zimbabwe RIYADH: Saudi Arabia’s Cabinet, led by Crown Prince Mohammed bin Salman, approved several vital agreements meant for the development of the country’s economy and global partnerships. Among the agreements are the mining deals with Jordan, Gabon and Zimbabwe, in line with Saudi Arabia’s desire to bring above the mining sector’s GDP to between $70 - $80 billion by 2030, up from the current $26 billion. Apart from these mining agreements, Saudi Arabia has signed deals with China for modern transport, Singapore for halal product quality and the African Civil Aviation Commission. These agreements are a part of the Saudi Arabia’s economic diversification strategy, whereby non-oil sectors have made 50% contribution in 2023. The Cabinet also evaluated the annual reports of the Ministry of Tourism and Cultural Development Fund with regard to infrastructure development, service quality improvement, sector growth, and investment attraction activities. The Minister of Information, Salman bin Yousef Al-Dosari also pointed out the efforts aimed to develop national industries and form sustainable economic development. More agreements were in the sector of communication and information technology with Greece and in public sector leadership with Singapore. Saudi Arabia also signed a cultural cooperation MoU with Bahrain. Additionally, the Cabinet approved financial statements of organizations like the General Authority for Survey, Digital Government... --- - Published: 2024-07-10 - Modified: 2024-07-10 - URL: https://analytix.sa/saudi-china-officials-meet-in-riyadh-to-enhance-the-housing-partnerships/ - Categories: Daily News RIYADH: Strategic partnerships between Saudi Arabia and China in the municipal and housing sectors are set to move to the next level following a high-level meeting held in Riyadh. Saudi Arabia’s Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail sat down with Beijing’s Ambassador Chang Hua to discuss possible collaborations in real estate, contracting and municipal services. The meeting emphasized Saudi Arabi’s commitment to develop a strategic partnership with China, with plans of establishing a joint working team to discuss further opportunities. This comes after the Comprehensive Strategic Partnership agreement signed between King Salman and the Chinese President Xi Jinping in December 2022, which paved way for bilateral cooperation in the real estate sector. The Saudi Chinese cooperation aims to improve the Saudi real estate sector by attracting investments and collaborating with leading firms. This initiative falls in line with Saudi Arabia’s Vision 2030’s Housing Program which is geared towards increasing the homeownership rate to 70 percent by the year 2030. The National Housing Co. has set a target to build 300,000 housing units by the end of the year 2025. In August 2023, the Saudi ministry signed 12 real estate agreements amounting to SR 5 billion ($ 1. 3 billion) with Chinese firms, and the National Housing Co. signed a deal with CITIC Construction Group to develop industrial city and logistics zones. Ambassador Chang Hua commended the bilateral diplomatic relations and expressed China’s desire to expand commercial and investment ties with Saudi Arabia, especially in the infrastructure and contracting sectors. The rapid development of the Saudi real estate market has attracted global attention due to urban development projects and substantial infrastructure investments with a focus on sustainability and innovation. --- - Published: 2024-07-09 - Modified: 2024-07-09 - URL: https://analytix.sa/q2-2024-witnesses-a-spike-in-saudi-arabias-tech-sector-registrations/ - Categories: Daily News RIYADH: Saudi Arabia’s tech sector boomed during the second quarter of 2024; especially Artificial Intelligence (AI) and cloud computing services saw substantial growth. There was an increase in AI technologies by 53%, with 8,948 official identification cards issued compared to 5,820 in the previous year. Cloud computing services saw a growth of 43%, with 2,358 documents issued, up from 1,648 The growth resonates with Saudi Arabia’s highly competitive global market, ranking 16th out of 67 countries in the World Competitiveness Rating. Riyadh had the highest number of permits issued for AI technologies with 5,492, followed by Makkah, the Eastern Province, Madinah, and Asir. The other sectors, notably, the arts, entertainment and the leisure sector saw a substantial commercial growth record with 20,465, and electronic games registrations rose by 29% to 336. The ground passenger transport services grew by 32%, touching 8,213 records, and the short-term accommodation businesses recorded 22% growth with 22,435 records. Other sectors such as mining and quarrying, pharmaceuticals and medical products also showed remarkable growth for commercial registrations reflecting the evolving business environment of Saudi Arabia. The Ministry of Commerce announced registrations of more than 120,000 commercials during the Q2 of 2024, up by 78% compared to the same period of 2023, reflecting the country’s economic growth. --- > In this blog, we'll give insights into the construction sector in Saudi Arabia, its opportunities & how to set up a construction company in Saudi Arabia. - Published: 2024-07-08 - Modified: 2024-07-09 - URL: https://analytix.sa/construction-company-in-saudi-arabia/ - Categories: Articles Saudi Arabia’s construction sector is one of the fastest-growing markets worldwide. With new trends and ambitious projects, the industry is predicted to reach up to USD 70. 33 billion in 2024 and projected to reach USD 91. 36 billion by 2029. This growth rate of 5. 37% annually between 2024 to 2029 is due to Saudi Arabia’s Vision 2030 National Development Plan, which reflects the government’s interest in developing the infrastructure. According to a recent report, the Kingdom of Saudi Arabia’s construction output value for all sectors is predicted to rise to $181. 5 billion by the end of 2028 providing a favorable business environment for a foreign company to set up a construction company in Saudi Arabia. Through this blog, we aim to give you an insight into the construction sector in Saudi Arabia by exploring opportunities, key points and how to set up a construction business in Saudi Arabia. Growth of the Construction Industry in Saudi Arabia Here are some of the key factors behind the expansion of the construction sector in Saudi Arabia: Saudi Arabia has undertaken many projects that will change the landscape of the country through the government’s initiative and emerging trends. The use of Ai, robotics, and 3D printing is expected to play a huge role in the development of the construction sector of the country. Currently, many large-scale infrastructure projects are in progress with many in the planning stage. The Saudi Arabian construction market is showing tremendous growth with a good CAGR which invites in more foreign investment. Vision 2030 started eight years ago as part of diversifying Saudi Arabia’s economy by focusing on non-oil revenues and setting up infrastructure and facilities for that, the construction industry becomes the cornerstone of these initiatives. Over $140 billion has been granted to construction projects in 2023. The kingdom plans to reach a population of around 10 million by 2030. The capital city has become a focus of attention as the country prepares to host the World Expo in 2030 and the FIFA World Cup in 2034, Sub-sectors of the Construction Industry The construction industry involves several sectors with each focusing on different types of projects. These sub-sectors depend on government policies, investments and market demands. Let’s explore the main sub-sectors to get an insight into its different aspects and understand the investments fueling their development: Commercial Construction This sector encompasses projects such as leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. The government strives to boost tourism, along with investments in leisure, hospitality and retail buildings that will further the growth of the sector. Industrial Construction This sector’s projects include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. The government plans to minimize the country’s reliance on oil revenues and boost EV production to fuel growth of the sector. Infrastructure Construction This sector covers projects such as rail infrastructure, road infrastructure, and other infrastructure projects. Investments from both the... --- > Investor Visa in Saudi Arabia or Golden Visa provides you with a permanent residence and many business privileges in the kingdom. - Published: 2024-07-08 - Modified: 2024-07-08 - URL: https://analytix.sa/investor-visa-in-saudi-arabia/ - Categories: Articles Want to know the ways of exploring great investment opportunities in the rapidly growing economy of Saudi Arabia? Here, we will be discussing in detail the Investor Visa in Saudi Arabia, also known as the Golden Visa which provides you with a permanent residence and many business privileges in the kingdom. Let us help you with the information about the conditions for applying for the visa, the process of application, and the list of documents you are to produce. For first-time investors and even those who are veterans in the field, this blog is perfect for anyone interested in learning about the Investor Visa in KSA. What is an Investor Visa in Saudi Arabia? Investor Visa, more commonly known as the Golden Visa, is a unique type of residency that was implemented by Saudi Arabia at the beginning of 2023 to attract foreign investors. This program permits qualified individuals to obtain a residency permit by making financial investments in Saudi Arabia. The inception of this move can be traced back to 2019 showing the kingdom’s interest in making room for international investors. The Investor Visa has several benefits such as allowing the primary applicant to have their family join them along with providing an opportunity and legal entry to relocate and invest in one of the world’s most emerging economies. The Investor Visa program offers two distinct residency options:Temporary Residency with a Lower Investment Requirement: This option is for people who are willing to commit for a shorter period of time. Applicants who meet the financial criteria can legally come to the country and gain temporary residency without investing large sums of money in the process. Traditional Permanent Residency: This option is for those individuals, who are willing to put down roots for a more extended period in the country of Saudi Arabia. It also reflects the commitment of an individual to live within the country on a permanent basis as a full resident. However, those who are applying for traditional permanent residency are required to make a huge investment. Both options are focused on the provision of opportunities for foreign investors to get familiar with the life and business conditions in Saudi Arabia and to provide them with flexibility. Let us take a quick look at some of the facts regarding the investor visa: Quick Facts Answers Investor Visa Availability Yes, the Investor Visa is available to persons who meet the required criteria. Multiple options to acquire Investor Visa Yes, there are two types of residency, that is, Temporary and Permanent residency. Types of Investors Addressed The visa is open to both EU and non-EU investors. Startup Visa Availability No, there is no particular startup visa that is affiliated with this. Sponsorship Requirement No Minimum Amount Requirement SAR 100,000 (approx. USD 27,000) Access to Permanent Residence Yes, it is possible at a cost of SAR 800,000 (approx. USD 213,000) Direct Citizenship Availability No Possibility to acquire real estate Yes Job creation for Saudi citizens No Possibility of moving with... --- > Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. From 30th June to 07th July 2024 - Published: 2024-07-08 - Modified: 2024-09-05 - URL: https://analytix.sa/saudi-arabia-this-week-6/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 30th June to 07th July 2024 Saudi PIF leads in Middle East and ranks 2nd Worldwide in 2024 GSR scorecard RIYADH: The PIF of Saudi Arabia has remained the top-ranked province in the Middle East and has moved up to the second position among the 100 sovereign wealth funds in terms of the Global SWFs ranking of the 2024 GSR Scoreboard. It has increased all the way to 96% from 92% as per the last year. Over the past 5 and half years, PIF has established itself as a leader in mobilizing fresh capital. The GSR Scoreboard comprises areas like transparency, accountability, impact investing, legitimacy, and sustainability by totaling 25 factors that lie under three major categories namely governance, sustainability, and resilience. The head of strategy development at the PIF, Chad Richard, highlighted the fund is an ideal investor with world-class governance and sustainable investing framework. PIF has acted as a financier of renewable energy, engaging in large-scale carbon credit trading and green bonds. There were huge investment in the year 2024 even when the global economy experienced volatility, more specifically in renewable energy. It has also assisted Saudi Arabia’s Vision 2030 in the promotion of the private sector, effectively enhancing industrial industry, and diversifying employment. The 2023 financial statement shows that PIF’s revenues stood at $88. 3 billion, signifying its robust financial performance, it has remained strategic, expanding business investments to achieve sustainable growth. It’s also important to note that the fund has been awarded high credit ratings from both Moody’s and Fitch with regard to financial soundness and performance. Fortis expands into Saudi Arabi’s SME Sector Fortis, a UAE-based fintech firm, has unveiled plans to enter Saudi Arabia to provide the small and medium-sized enterprises (SMEs) with its point of sale, customer relationship management, and payment solution. This move is in line with Saudi Arabia’s Vison 2030 goals particularly in the areas of economic development and digital transformation. The executive vice president Arseny Kosenko with regard to the immediate strategy of the company, said that Fortis has laid down its initial plan to expand UAE, Saudi Arabia and other countries within the MENA region. Its objective is to improve the overall functionality of SMEs with an aim of increasing the GDP and technological development. In Saudi Arabia, Fortis is going to adapt its platform to local legal requirements and business practices adjusting pricing, marketing and partnerships. Fortis hopes to serve as a catalyst for Saudi Arabia’s digital transformation by keeping track of regulatory changes and implementing advanced technology and automation in maintaining compliance. It has been funded by $20 million investment from Opportunity Venture where its expansion plan includes product development and market introduction more specifically in Saudi Arabia due to its big market and many development projects. Distinguished global talents to be granted Saudi citizenship RIYADH: A Royal decree has been... --- - Published: 2024-07-06 - Modified: 2024-07-06 - URL: https://analytix.sa/saudi-arabia-sees-a-78-increase-in-business-registrations-as-the-private-sector-booms/ - Categories: Daily News RIYADH: The Saudi Ministry of Commerce registered over 120,000 new commercial registrations in the second quarter of 2024, which is 78% more than in the same period of the previous year. According to the ministry’s data, the number of issued business IDs reached 121,521 against 68,222 a year before. The data also revealed key sectors showed considerable growth. E-commerce registrations rose 17. 47% to 40,697. Specifically, the number of container handling services’ registrations was 2,457, an increase of 48 percent, while that of logistics services was 11,928, a 76 percent growth. Other sectors such as urban transportation, arts and entertainment, recreation, and cloud and computer services also recorded increases. Artificial Intelligence registration increased by a massive 53% to 8,948. The electronic games industry, mining, quarrying, and pharmaceutical manufacturing also saw increases. This surge comes as Saudi Arabia ranks 16th out of 67 in global market competitiveness and 4th among the G20 in business legislation and infrastructure. Riyadh topped with 52,192 registrations, followed by the Eastern Provinces with 20,148 and Makkah with 18,904. Notably, 45% of the registrations were issued to females. The Kingdom has provided more than 1. 5 million commercial instruments. The non-oil private sector also recorded handsome growth in June due to rising demand and higher output. Despite a decline in new orders, non-oil businesses showed a strong increase in output, helping the Kingdom lead with the strongest expansion figures. The Saudi Ministry of Commerce aims to attain a premier role within a competitive and sound environment, contributing to the country’s sustainable economic growth through effective policies and mechanisms. --- - Published: 2024-07-04 - Modified: 2024-07-04 - URL: https://analytix.sa/saudi-arabia-sees-23-surge-in-tourists-spending-reaching-12-bn/ - Categories: Daily News RIYADH: The Kingdom of Saudi Arabia recorded a rise in Tourists’ spending by 23% during the first quarter of the year reaching SR 45 billion ($12 billion). Saudi Central Bank reported a SR 24 billion surplus in travel spending in 2024, a 46% higher than the previous year. This rise is in line with Saudi Arabia’s Vision 2030 with the country’s intent to become one of the top 10 destinations for global tourism. A World Economic Forum study indicates that international tourism and travel sector’s contribution to the global GDP is set to rebound to the pre-pandemic levels this year. Saudia Arabia rose from its position of 50th to 41st in the international tourist arrivals in 2024 due to increased travel demand, tourism investment and better flight availability. It shows that Saudi Arabia is gradually expanding its cultural and entertainment sectors by participating in the Oscars and Cannes Film Festival. UN World Tourism Organization recognized Saudi Arabia’s tourism sector for its innovation and achieved Vision 2030’s goal of 100 million visitors seven years early. The goal has been revised to reach 150 million international visitors by 2030. The new regulatory improvements “Visiting Investor” visa has also helped the industry’s growth. --- > The Kingdom of Saudi Arabia recorded a 5.6% rise in Foreign Direct Investment (FDI) during the first quarter of 2024 - Published: 2024-07-01 - Modified: 2024-07-03 - URL: https://analytix.sa/saudi-arabias-fdi-rises-by-5-6-in-fdi-in-q1-2024/ - Categories: Daily News RIYADH: The Kingdom of Saudi Arabia recorded a 5. 6% rise in Foreign Direct Investment (FDI) during the first quarter of 2024, reaching a SR9. 5 billion ($2. 53 billion), which stood at SR9 billion the previous year. This growth reflects the potential of the Kingdom as a destination for international investors and supports Vision 2030 goals to improve the investment environment. The inflow of FDI reached SR 17 billion, a 0. 6% percent increase from the previous year. SR 16. 9 billion in the first quarter of year 2023, thus showing that foreign investors have not been deterred. On the other hand, FDI outflows have a decline of 5. 1 percent. SR 7. 5 billion, this indicates that there is a retention of foreign capital within Saudi Arabia. The National Investment Strategy (NIS) announced in 2021 targets increasing annual FDI inflows to more than $103 billion and domestic investment to over $453 billion by 2030. According to the recent UN data, Saudi Arabia is seen as an important FDI receiver in West Asia and attracted $65. 1 billion after the pandemic up to 2023. There was a 55% increase in international project finance to $22 billion in 2023 for greenfield projects that reached $29 billion marking a 108% annual growth. These figures show the Kingdom’s continuous efforts to develop a thriving environment for investments. --- > Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly business news from 24th to 29th June 2024 - Published: 2024-06-29 - Modified: 2024-09-05 - URL: https://analytix.sa/saudi-arabia-this-week-5/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 24th to 29th June 2024 Saudi Arabia invited AI Key Industry players to set up their presence in the Kingdom RIYADH: Saudi Arabia has taken a few steps to attract International AI firms to invest in the Kingdom. Speaking at the World Economic Forum’s 15th Annual Meeting of the New Champions, in Dalian, China on June 25, Faisal Al-Ibrahim, Saudi Arabia’s minister of economy and planning, has stated the country is taking initiatives to become a leading force in AI. Saudi Arabia is making a strive to become the global leader in AI through the National Strategy for Data and Artificial Intelligence, launched in 2020. This initiative aims to attract $20 billion worth of investment by 2030 and train 20,000 AI and Data specialists. Al-Ibrahim emphasized the need to ensure that AI was accessible across the globe so as to eliminate the existing inequalities in terms of economic status. He further stated that the Kingdom’s non-oil sector is expanding faster, making up to 51% of the real GDP. The World Economic Forum, themed “Next Frontiers for Growth” brought together leaders from 80 countries addressing the issue of world economic growth with the focus on new economic drivers, AI’s role in entrepreneurship, and sustainability. In conclusion, Saudi Arabia is positioning itself to become a center for AI advancement and enhance international collaboration and fair utilization of technology. NIDLP report: Saudi Arabia’s non-oil exports exceed SR206 billion in 2023 RIYADH: The non-oil exports of Saudi Arabia reached over SAR206 billion in 2023 according to National Industrial Development and Logistics Program (NIDLP). Since the start of the year the program initiated 283 projects of which 102 have been successfully implemented within the year and contributed to enhancement of GDP by SAR345 billion. “Renewed Horizons”, the annual report shpwcases NIDLP’s contributions for Vision 2030. It employed more than 204,000 employees, prioritizing local employment; and increasing non-oil exports by 74 percent and raising the economy’s value by more than 35 percent. The key achievements include new energy and solar projects, mining, among others; the launch of the National Automotive Company for electric vehicles. NIDLP strives at making Saudi Arabia as a world’s industrial and logistic center focused on innovation in the Kingdom. Saudi-US Council Meeting focuses on boosting trade and investment cooperation WASHINGTON: The 8th Saudi-US Trade and Investment Council meeting (TIFA) was held in Washington on Friday. The Deputy Governor of the Authority for International Relations Abdulaziz Al Sakran and the Assistant United States Trade Representative (AUSTR) for Europe and the Middle East Bryant Trick were the prominent figures present at the meeting. The meeting was held to increase bilateral trade and investment between the two countries. This includes areas like trade relations and trade agreements, technical barriers to trade, protection of intellectual property rights, electronic commerce, and joint work in innovation and technology. They also emphasized available... --- > Welcome to our expert guide on the top cities in Saudi Arabia suitable for starting a business venture. - Published: 2024-06-28 - Modified: 2024-07-23 - URL: https://analytix.sa/top-cities-in-saudi-arabia-to-start-a-business/ - Categories: Articles Welcome to our expert guide on the top cities in Saudi Arabia suitable for starting a business venture. As someone with extensive experience in the kingdom’s business landscape, we are here to take you through the cities that hold great potential for businesses in Saudi Arabia. Here, we will be discussing different aspects of cities such as economic conditions, infrastructures, accessibility etc. Whether you are planning your first business setup in Saudi Arabia or looking to expand your investments, below insights will help you make a well-informed decision. Factors to Keep in Mind While Choosing a City in Saudi Arabia While choosing the city for your business setup in Saudi Arabia, there are some critical aspects to be considered that can determine the success of your venture. In light of the subsequent considerations, you can guarantee a more efficient and profitable business establishment. Cost-Efficiency: What general cost should one expect to incur in doing business in the city? This involves the property value for your investment, costs of utilities, and appropriate wages necessary for your employees. Choosing a low-cost city for your business can also be a critical decision as it will result in decreased expenses and, therefore, increased profitability. Access to Market: The market's size and nature are compulsory factors. Select a city with a large population, where the percentage of the target group is high. A location with a high demand for your offering would mean better sales and thus more growth prospects. Local Government Regulations: Assess the political system of the local governments of the city. Certain regions in Saudi Arabia are more conducive to doing business because of favourable legal frameworks that govern the operation of business ventures. Once you take into consideration all the factors highlighted above, you will be in a position to make the right decision concerning the selection of the most appropriate city in Saudi Arabia for the establishment of your business venture with higher chances of growth and success. Top Cities to Start a Business in Saudi Arabia Saudi Arabia is rapidly transforming itself into a global business hub with several strategies and development blueprint such as the pioneering Vision 2030. Now, it will be important to focus on the most famous cities that act as the best places for business and investments. These cities are poised to be the centers of business development and drive the kingdom’s innovation. Riyadh Riyadh is the populous capital city of the Kingdom of Saudi Arabia and is the embodiment of opportunity for new business opportunities in Riyadh. As the largest and most populous city in the nation with a population of more than 6 million, and expected to be over eight million by 2030, Riyadh is currently among the top 10 growing cities in the world. Riyadh is another top favorite for FDI because the city is located in the middle of the Arabian Peninsula and income and urbanization rates are increasing faster. It follows the vision of Saudi Vision 2030 with economic development... --- > This blog will the vision of NEOM Project, opportunities for investors, key regions and business sectors, and the development timeline. - Published: 2024-06-28 - Modified: 2025-08-07 - URL: https://analytix.sa/neom-project/ - Categories: Articles The Neom Project in Saudi Arabia is one of the most ambitious infrastructure projects in the world right now. It aims to redefine urban living and sustainability ideas with its concept of what a futuristic city should be like. This blog will explore the project's vision, opportunities for investors, key regions and business sectors, and the development timeline to provide our readers with a comprehensive idea of NEOM, the city of the future. What is Neom Project? The Neom project is a planned city in northwestern Saudi Arabia spread across an area of 26,500 square kilometres. It is redefining the modern concepts of livability, business, and conservation and is set to become the most futureproof city on Earth Invest in NEOM Now What Makes NEOM Unique for Investment? NEOM Project presents investors across the globe to participate in a one-of-a-kind project that is revolutionary in both concept and scale. With investment in its various regions running into billions of dollars, there are ample opportunities for investors from across different sectors to contribute to the project’s development. The following features of NEOM make it hard to resist as an investment opportunity for investors across the world: A separate regulatory environment that is creating a new standard for doing business. Benefit from the ease of global connectivity offered by Saudi Arabia’s strategic location. NEOM has sourced top talent from across the world’s major markets and is partnering with big names across various sectors. The city will be fully powered by clean energy, setting a new benchmark for city planning and sustainable living. NEOM is being shaped with sustainability, wellness and human improvement as living principles. What Regions Does the Neom Project Consist of? Neom Project is separated into several separate regions which are designed to have different functions and contribute to the implementation of the general concept of the construction of a sustainable, cutting-edge, and comfortable city. undefined The Line An experimental 170 km long city Proposal to accommodate a nine million population which include two 500 meters high towers with reflecting glass. Oxagon An octagonal-shaped manmade structure port city in the Red Sea that was planned to be the world's largest floating structure and a centre for progressive industrialization. Trojena A mountain resort situated in the Tabuk region with amenities that include a ski resort, adventurous activities, and the 2029 Asian Winter Games hosting place. Sindalah It comes with hotels, villas and a marina and it will be the first tourism project of Neom located on an island in the Red Sea. Leyja A coastal resort featuring luxury built-in small boutique hotels built in a valley of plateau with walls up to 400m high to integrate the building designs with nature. Epicon A tourist attraction that consists of interlinked rocky peaks and intricate spires of skyscrapers, luxury homes, and a beach resort fronting the Gulf of Aqaba. Siranna An ultra-modern hexagonal-pillar-shaped hotel and private residences that are only accessible via the sea and literally lie within the mountains. Utamo A comprehensive... --- > In this blog, we'll guide you through the whole process on how to start an e-commerce business in Saudi Arabia through this blog. - Published: 2024-06-28 - Modified: 2024-07-28 - URL: https://analytix.sa/ecommerce-business-in-saudi-arabia/ - Categories: Articles Saudi Arabia’s tech-savvy and growing young population make the Kingdom a key market player for anyone or any company wanting to start an e-commerce business in Saudi Arabia. The Kingdom’s e-commerce growth is geared toward continuous growth. A high smartphone penetration rate (97%), advanced mobile broadband internet subscriptions, and tenth global ranking for internet speed give out a favorable environment for setting up an e-commerce business in Saudi Arabia. The Saudi e-commerce market is estimated to rise to US$ 22. 01 billion, with a 13. 5% retail market share by 2027, faster than the global growth rate of 11. 2%. In the first half of 2023, 35,000 commercial licenses were issued, and the venture capital raised $428 million, up by 153% from the previous year, giving way to more e-commerce companies to enter the market. With more than a decade’s experience in helping ventures setting up businesses in different countries, Analytix aim to guide you through the whole process on how to start an e-commerce business in Saudi Arabia through this blog. Benefits of Starting an E-commerce Business in Saudi Arabia Let’s take a look at the benefits of setting up e-commerce business in Saudi Arabia Large & growing Market: The e-commerce sector is expanding tremendously because more and more firms are starting an e-commerce business in KSA. Observing the current trends, there is an increasing need for online shopping among customers. In 2024, the internet users in Saudi Arabia will reach 33. 6 million, representing a 42% increase from 2019. Affordable Operating Costs: E-commerce companies usually have low overhead costs since they don’t require stores or offices, which reduces the rent and maintenance costs. Access to Worldwide Markets: Due to the robust logistics and shipping infrastructure in Saudi Arabia, the e-commerce business sector is recognized worldwide. Promising Future: As an emerging market, like any other market, the Saudi e-commerce market also has its share of challenges. That's why the government announced plans to invest SAR 100 billion (USD 28 billion) to speed up the growth of the sector, especially in logistics, and also to adopt friendly e-commerce regulations. Increasing Internet Penetration: In Saudi Arabia, more than 90% of the population have internet access, which ranks the Kingdom among other countries with the highest internet usage. Rising Disposable Incomes: The young and growing population and the increase in disposable income pilot towards online shopping demand. Growing Awareness of Online Shopping: The Saudi consumers are gradually being more aware to the advantages of the online shopping, like the convenience and low costs. Shift to Online Payments: Vision 2030 proposed that 70% of transactions be through cards and online platforms, thereby minimizing cash on delivery’s reign. Educational Initiatives: In 2023, PepsiCo collaborated with MCIT and AstroLabs to bring forth the PepsiCo ScaleUp e-commerce program and fast-track one hundred Saudi businesses on their online journey. Talk to an Expert How to Start an E-commerce Business in Saudi Arabia Starting an e-commerce business in KSA needs a proper strategy and execution. Here’s a step-by-step... --- > The British investors have exhibited strong interest for investments in Saudi Arabia’s renewable energy as well as sustainable infrastructure market which aligns with Saudi Vision 2030 - Published: 2024-06-27 - Modified: 2024-07-28 - URL: https://analytix.sa/uk-investors-eye-neom-qiddiya-and-diriyah-projects/ - Categories: Daily News RIYADH: The British investors have exhibited strong interest for investments in Saudi Arabia’s renewable energy as well as sustainable infrastructure market which aligns with Saudi Vision 2030. In a sustainable infrastructure presented in the UK-Saudi Sustainable Infrastructure Summit held in London on 24th June, key projects include NEOM, Qiddiya, the Red Sea Project, ROSHN and Diriyah were discussed. These initiatives are part of Saudi Arabia’s climate goals and vision, which seeks to reduce carbon emissions by 278 million tons per year and enhance renewable energy capacity by 50 percent by the year 2030. Organised by Saudi British Business Council, Saudi Chambers of Commerce and the City of London Corporation, brought more than 250 leaders together, to deliberate sustainable infrastructure development, getting to net-zero emissions, filing the investment gaps, and the role of public-private partnerships. The summit strengthened the Saudi-British partnership in infrastructures, signaling the growth of their economic ties amid both embracing green solutions. --- > In the blog, we aim to give an understanding on the legalities and requirements to start a travel and tourism company in Saudi Arabia successfully. - Published: 2024-06-25 - Modified: 2024-09-05 - URL: https://analytix.sa/travel-and-tourism-company-in-saudi-arabia/ - Categories: Articles The rate at which the Travel and Tourism sector has been growing makes it apt to set up a travel and tourism company in Saudi Arabia, due to the government’s Vision 2030 plan. Saudi Arabia, Known for its breathtaking landscapes, museums, and rich history, puts forward a golden opportunity for individuals and companies seeking to establish a travel and tourism company. In the blog, we aim to give an understanding on the legalities and requirements to start a travel and tourism company in Saudi Arabia successfully. Analytix will cover answers to all your questions and clear, the doubts you might have while setting up a travel and tourism company in Saudi Arabia here. Why Travel and Tourism Company in Saudi Arabia Saudi Arabia, located in the heart of the Middle East, is a central business hub linking all the four corners of the Globe. Thanks to the government's Vision 2030 plan, the country is no longer dependent on its oil reserves, and the country has been investing in the development of its infrastructure for the tourism sector and bringing in some new initiatives that will enable growth like implementing a new visitor visa that will allow visitors from 49 countries to stay up to even 90 days, making historical places like AlUla, Diriyah, and Mada’in Saleh, accessible to the public, organizing International events such as Formula 1, Dakar Rally, Red Sea International Film Festival, and Riyadh Season, undertaking mega projects like NEOM, Qiddiya, Amaala, and Red Sea Project which offers unparalleled experiences and facilities to the tourists, bringing up the local business owners and SMEs through various initiatives and incentives. The Kingdom of Saudi Arabia offers more than just events and architecture, the Kingdom has a rich cultural and religious history and offers tours around its important landmarks which boosts tourism. How to Start a Travel and Tourism Company in Saudi Arabia? Understand the market, and competition, know your audience, and develop a business plan which will be used to obtain the required funds, before getting started on anything. To start a travel and tourism company in Saudi Arabia, follow the following steps: 1. Choose Business Structure: Determine the business structure based on the operational strategy such as an LLC, a JSC or a branch of a Foreign Company. 2. Register Business Name:Choose your business name and register with the Ministry of Commerce and Investment (MCI) 3. Meet Capital Requirements: Compute the minimum capital you want to invest in your company. It also depends on the type of business and where it’s located. 4. Obtain Licenses and Permits: Acquire the necessary licenses and permits from the Saudi Arabian General Investment Authority (SAGA) and other government agencies. 5. Register with the Chamber of Commerce: Register your company by getting the Commercial Registration (CR) certificate with the respective Chamber of Commerce within your local area. 6. Tax Registration: To comply with tax regulations in Saudi Arabia, register with the General Authority of Zakat and Tax (GAZT). How to Apply for Travel and... --- > Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly business news from 17th to 23rd June 2024 - Published: 2024-06-24 - Modified: 2024-07-03 - URL: https://analytix.sa/saudi-arabia-this-week-4/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 17th to 23rd June 2024 Saudi Arabia's Vision 2030 Exceeds Targets for Women's Leadership and Employment RIYADH – Saudi Arabia’s Vision 2030 has improved women’s leadership in the labour market where 1,707 women occupy leadership positions in line with the set agenda of having over 1000 women leaders. The Ministry of Human Resources and Social Development revealed that 320 women participated in the self-employment training program in 2023, thus exceeding the target of 310. Female employment increased from 21. From 2 percent in 2017 to 34 percent in 2023, with economic participation rising to 35 percent. 5%. Women now hold 43. 8% of middle and senior administrative positions. Saudization of highly skilled jobs has been achieved at a rate of 39%. 6%, which is very close to the goal set for 2025 of 40%. Other training courses have also trained more than sixteen thousand trainees into the labor market. Riyadh Emerges as a Leading Startup Hub in MENA Region RIYADH - Riyadh is in the top five startup ecosystems in the MENA region with an overall score according to Startup Genome and Global Entrepreneurship Network. Especially Riyadh, Jeddah and Alkhobar are recognized as great places to start a business. Riyadh is ranked between 51-60 worldwide and is particularly highlighted for developing four unicorns in the last decade regarding funding performance. The region’s leading country in venture funding is Saudi Arabia with $1. 38 billion US dollars in the year 2023. Saudi Arabia's Construction Sector Driven by Vision 2030 and Mega Projects Saudi Arabia’s state-backed projects such as NEOM and Vision 2030 have led to a massive increase in infrastructure and construction activities due to increased domestic and foreign investments. The Kingdom leads global construction activity with $1. 5 trillion in projects, equivalent to 39% of the total projects of the MENA region. Prominent examples include The Line and King Salman Park, which showcase megaprojects in urban and city planning. Interestingly, some of the issues in skills gaps are giving rise to digitization and effective sourcing approaches Saudi Arabia's Economic Resilience: Non-Oil Activities Now 50% of GDP Amid Vision 2030 Reforms Data from the General Authority for Statistics (GASTAT) reveals that non-oil activities now account for 50% of the nation’s GDP, an indication of a successful economic restructuring under Vision 2030. According to GASTAT Q1 2024 GDP report, there is a 1. 7% year-on-year decrease in real GDP, but a 1. 4% growth compared to the previous quarter. Non-oil activities increased by 3. 4% year on year and government activities grew by 2%. This diversification is one of the premises of Vision 2030, which shows the effectiveness of the programs and reforms undertaken to build a stronger economy. --- > Saudi Arabia has upgraded its competitiveness ranking to 16th place out of 67 countries in the IMD World Competitiveness Yearbook. - Published: 2024-06-22 - Modified: 2024-07-03 - URL: https://analytix.sa/saudi-arabia-advances-in-global-competitiveness-rankings-to-16th-place/ - Categories: Daily News Saudi Arabia has upgraded its competitiveness ranking to 16th place out of 67 countries in the IMD World Competitiveness Yearbook. This is according to the Swiss-based Institute for Management Development annual report on business legislation and infrastructure, the Kingdom boasting of a 4th position among G20 countries. The National Competitiveness Center, in cooperation with other government institutions, is responsible for preparing the report, paying special attention to standards for doing business for countries and companies. Some improvements include business efficiency where the Kingdom has ranked 12th while in the infrastructure it is ranked 34th. Saudi Arabia remains in the top twenty positions in both economic performance and government efficiency indexes. Minister of Commerce Dr. Majid Al-Qasabi has credited these achievements to economic reformation championed by Crown Prince Mohammed bin Salman. These reforms have placed Saudi Arabia among the leaders in 24 indicators, including the growth of long-term employment, cybersecurity, the availability of internet, etc. The Kingdom is ahead of all countries in most fronts, including digital transformation, stock market capitalization, and venture capital availability. It ranks second in drivers like technological advancement and funding for technical innovations. Also, Saudi Arabia stands third in trade, economic stability, and government flexibility towards economic shifts. In general, the increase in Saudi Arabia’s competitiveness highlights its determination to develop and reform the economy with the support of various measures under the leadership of the government. Such endeavours not only improve the business climate, but also help to cement the Kingdom’s place in the global economy. --- > In this blog, we will be sharing expert insights on the process of setting up a cybersecurity business in Saudi Arabia. - Published: 2024-06-14 - Modified: 2024-09-05 - URL: https://analytix.sa/setting-up-a-cyber-security-business-in-saudi-arabia/ - Categories: Articles Starting a cyber security business in Saudi Arabia is a highly-rewarding, timely, and strategic business plan. In this blog, we will be sharing expert insights on the process of setting up a cybersecurity business in Saudi Arabia, step-by-step procedure to begin the venture, and the future of cybersecurity market in the kingdom. With a decade plus experience in the business landscape of KSA, Analytix aims to guide you through the essential information to build a successful cyber security business in Saudi Arabia. Future of Cyber Security in Saudi Arabia With the increasing presence of technology in Saudi Arabia, it becomes paramount to enhance the ability to combat cyber threats. With the emergence of digital trends in the economy, the application of e-commerce and other online features has become increasingly popular among companies. This shift leads to an increased number of remotely accessible components, and this simply translates to more targets of opportunities for an attack. This has cultivated a new phase of cybercrime, thus demanding adequate and reliable cyber-security for the participating Saudi businesses. Understandably, as cyber security becomes a conscious investment objective, the Saudi government and businesses are gearing up towards the containment of such threats. Some of these initiatives include the creation of the National Cybersecurity Authority (NCA) in 2017 under the National Cyber Security Strategy for Saudi Arabia. NCA has played an important role in establishing minimum cyberspace security requirements that apply to the national and government entities that are vulnerable to cyber threats. It has also supplied detailed policies and frameworks that assist these organizations in protecting their data and networks. Also, in the current National Digital Transformation Program, financial resources have been set up to strengthen cybersecurity. This aimed at the modernization of the Saudi economy and led to cybersecurity investments reaching $425 million in the year 2020. From a global perspective, business related to cyber security is likely to grow to almost $366 billion. By 2020, revenue is projected to reach $10 billion and is set to grow owing to Saudi Arabia’s pattern. It has been found that Saudi Cyber Security Market is expected to grow at a compounded annual growth rate of 12%. The Saudi Arabian tech-savvy population grew from 4% in 2020 to 4% in 2025 with a projected market size of increasing from SAR 10 billion ($ 2. 26 billion) to SAR 21 billion ($5. 6 billion) by the end of 2023. Cyber security statistics revealed that Saudi Arabia was among the top six countries that were most frequently attacked by cyber criminals between 2016 and 2018. Hence, in the year 2019, it ranked second in terms of the average cost per data breach with SAR 22 for each breach, right below the UAE. The same year saw both countries suffer the highest average number of breached records per incident; 38,800, which was way above the world’s average of 25,500 records per incident. The Key Points to note are: Increasing Technology Use:The cyber security market in Saudi Arabia is being predicted... --- > In this blog, we will be exploring in detail the most suitable places for relocating your business in Saudi Arabia. - Published: 2024-06-14 - Modified: 2024-09-05 - URL: https://analytix.sa/best-places-to-relocate-your-business-in-saudi-arabia/ - Categories: Articles Saudi Arabia stands as a perfect example of how a country provides great opportunities for companies willing to proceed with re-location. The growing economy, strategic geographic position, and favorable environment offer infinite opportunities for successful business setup in Saudi Arabia. However, it becomes a challenge to determine the best location for the business to relocate within Saudi Arabia. As experts with extensive experience in the business landscape of KSA, our task is to make this process as easy as possible. In this blog, we will be exploring in detail the most suitable places for relocating your business in Saudi Arabia. Key Considerations for Choosing the Ideal Business Location in Saudi Arabia Choosing the right place for business relocation is critical and it should never be done without due consideration. In choosing a location, it must have some basic characteristics, which are central to your entire business approach. Since there are risks embedded in undertaking business activities, it is advisable to reduce such risks by choosing a location that will suit the needs and desires of your business. Business relocations to Saudi Arabia are likely to be attracted by many attractive regions within the kingdom due to its stable and growing economy in tourism. The first criterion is to recognize geographical areas or locations with market potential in your area of specialization. The rule of thumb is to always focus on those locations with a promising market exposure and visibility for the industry you are in. Below, we have provided a consolidated list of suitable relocation sites within Saudi Arabia for your business. Riyadh In any manner that the Kingdom of Saudi Arabia may be discussed, Riyadh cannot go unmentioned. Being the capital city with a population of approximately 7 million people, Riyadh occupies a crucial position in the heart of the Saudi Arabian economy, financial, and business processes. The city's dynamic environment provides a continuous influx of goods ideas and people, which makes this place an ideal place to consider for business relocation. With a strong and diversified economy and strategic location, Riyadh remains one of the most suitable places for investment in the Middle East. Year in and year out, the city is open to many professionals who also bring with them lots of services and expertise and promote the enhancement of business setup in Riyadh. Because culture and arts are well supported in the city, businesses associated with these sectors will be well encouraged and supported. In the industrial context, Riyadh remains a critical cog in the wheel as far as the Kingdom’s economy is concerned. The city accommodates hundreds of factories and production centers, where they produce different types of goods such as machinery, chemicals, food products, textiles, furniture, and construction materials. Given such diversity on the industrial front, Riyadh provides ample potential for industries to boom. Riyadh offers your business an ideal base, as no matter what field you plan to engage in, whether it is manufacturing or cultural initiatives, the city and the country offer... --- > Saudi Arabia’s mining sector restructuring has set the Kingdom as the fastest-growing regulatory and Investment-friendly environment in the world. - Published: 2024-06-12 - Modified: 2024-09-05 - URL: https://analytix.sa/saudi-arabias-mining-sector-emerges-as-global-leader-in-regulatory-and-investment-reforms/ - Categories: Daily News Saudi Arabia’s mining sector restructuring has set the Kingdom as the fastest-growing regulatory and Investment-friendly environment in the world over the last five years, according to a report by MineHutte, a research & consultancy firm. With these measures in place, the Kingdom has risen to become the second ranked country globally in terms of friendly licensing environment. After the adoption of the new Mining Investment Law in Saudi Arabia in 2021, permits for exploitation licenses soared 138 percent last year growing from eight to 19. This change is in line with an overall plan by the Ministry of Industry and Mineral Resources to boost mineral production and attract investment given that mineral deposits are estimated to be worth SR 9. 4 trillion in Saudi Arabia, which is about $2. 4 trillion. Emma Beatty, the COO and research director at MineHutte, pointed out the Kingdom’s transformation of its business environment, and progress at both the regional and global levels. These improvements have been due to changes in regulatory, legislative, and infrastructural environments. Measures of financial policy and regulatory developments The MineHutte report also discussed Saudi Arabia’s advancement in financial policies, ranking in the top 10 countries in this category. The Kingdom has enhanced the legal and institutional environment for investors making it among the best nations in the world for mining investment. This includes the comprehensive mining strategy introduced in 2018 to unlock the full potential of the country’s natural resources with policy certainty to ensure clarity, openness, and attractiveness to investors. Citing global ranking, Khalid Al-Mudaifer, the deputy minister of industry and mineral resources for mining affairs pointed to the efforts made in the development of the sector in the last five years. The Kingdom has lately upgraded its anticipated reserves of more phosphate, gold and rare earths to $2. 5 trillion, up from $1. 3 trillion (about $4,000 per person in the US) in 2016. --- > Saudi Arabia will now allow foreign law firms, already licensed to practice in the country, to establish companies fully owned by non-Saudis. - Published: 2024-06-12 - Modified: 2024-07-03 - URL: https://analytix.sa/saudi-arabias-initiative-to-permit-non-saudis-to-establish-law-firms/ - Categories: Daily News Saudi Arabia is considering a significant policy change that would allow foreign law firms, already licensed to practice in the country, to establish companies fully owned by non-Saudis. This initiative aims to boost foreign investment, as announced by the National Competitiveness Center (NCC). The NCC shared on its X platform that it is seeking public feedback on a Ministry of Justice proposal to amend the first paragraph of Article 50 of the Kingdom’s Code of Law Practice. The proposed amendment would enable foreign law firms to set up wholly foreign-owned professional companies. These firms would provide legal advice on Saudi regulations and represent clients in court through a Saudi lawyer registered with the practicing lawyers' registry. Details posted on the Istitlaa platform indicate that the project aims to advance the legal profession, improve practice quality and efficiency, and integrate global expertise into the local context. Additionally, this move is designed to enhance the Kingdom’s competitiveness, improve its business environment, and elevate the justice system's efficiency by increasing professionalism within the legal sector. The initiative is also expected to support Saudi Arabia's goals of attracting foreign investment, encouraging international companies to move their regional headquarters to the Kingdom, and generating diverse employment opportunities for Saudi citizens, both directly and indirectly. --- > Do you or someone you know dream of doing business in saudi arabia (KSA)? If yes, we have some important information for you here in this blog. - Published: 2024-06-09 - Modified: 2025-07-21 - URL: https://analytix.sa/doing-business-in-saudi-arabia/ - Categories: Articles Do you or someone you know dream of doing business in Saudi Arabia (KSA)? If yes, we have some important information for you here in this blog. Saudi Arabia has become the premier destination for investors, entrepreneurs, and businesses worldwide. The kingdom, being the largest economy in the Middle East, has turned into an ideal location for businesses aspiring for global expansion. With the ambitious Vision 2030, Saudi Arabia is diversifying its economy and creating prime opportunities for investors for business enlargement and success. With more than a decade of experience in the KSA business landscape, Analytix has got you covered here with some vital insights on conducting business in Saudi Arabia. Main Sectors to Focus for Doing Business in Saudi Arabia Service Sector Saudi Arabia allows foreign investors to participate in different sectors of the service industries under certain rules and regulations. The Ministry of Investment (MISA) is responsible for licensing foreign investments and has opened new avenues to invest in foreigners in the past few years. Moreover, the requirements regarding minimum capital of SAR 500,000 for service licenses have been scraped off. The service sectors include construction, consultation services including Information Technology, tourism, training and education, health, insurance and banking, media and advertising, logistics and transportation, event organizing and management, catering and restaurant, funding and financing, oil and gas support services, aviation and handling services among others. While foreign investors can wholly own most service businesses, there are certain exceptions. Let us have a look at those: Professional Activities Professional Consultation services to be provided by foreign companies must be at least 25% Saudi-owned and must have one licensed Saudi partner, except for engineering consultation services where specific conditions apply. Telecom Services Telecom investment is also restricted and to invest in this sector one needs a Saudi partner to be a holder of 30% to 40% of the company’s equity. The determinations of the category of value-added services are entirely within the purview and control of MISA. Engineering, Procurement, and Construction (EPC) To start EPC companies, foreign investors require to have a local or domestic partner with at least 25% shareholding. Real Estate A real estate business being partly or wholly owned by a foreigner should be worth at least SAR 30 million and situated in any place apart from the two holy cities of Mecca and Medina. An additional financial activity is real estate financing which should be at least 40% held by locals and have a capital of not less than 200 million Saudi Arabian Riyal. Other Restrictions However, it should be noted that there are restrictions concerning investment in insurance and reinsurance sectors, digital brokerage, public and land transportation, and debt collection services. Wholesale and Retail Trade Any trading company involved in the wholesale and retail business must also adhere to the minimum capital requirements and other measures that are likely to be put in place depending on the sector and type of activity of the company in the Kingdom of Saudi Arabia. The Ministry... --- > Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. From 2nd Jun - 8th June 2024 - Published: 2024-06-08 - Modified: 2024-09-05 - URL: https://analytix.sa/saudi-arabia-this-week-3/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 02nd to 08th June 2024 Saudi Arabia Unveils Incentives Framework for Environmental and Meteorological Investment RIYADH – On World Environment Day observed on June 5, 2024, Saudi Arabia announced an incentives scheme to encourage investment in its environment and meteorology sectors. Unveiled by Environment Minister Abdulrahman Al-Fadhli at an event in Saudi’s capital Riyadh, the scheme seeks to encourage sustainable practices, research and innovation as well as improved environmental stewardship following the National Environment Strategy and Vision 2030. The results include initiatives toward the restoration of land use to various form of cultivation, regeneration and development of vegetation, fight against desertification and efforts in the reduction of carbon footprints. Saudi Arabia witnessed a whopping 477% rise in relocation of RHQs in Q1 2024 JEDDAH – During the first quarter of 2024, 127 international companies moved their regional headquarters to Saudi Arabia, which was much higher than that of the first quarter of 2023, 477% more precisely. This rise is attributed to the fact that the Kingdom has favourable policies for investors, owing to an attractive new tax regime and enhanced support services. Responding to investors’ concerns, the Saudi Ministry of Investment solved 34 investor challenges, and agreed on 64 investment deals, especially in the field of innovation and sports. FDI increased by 32% in the fourth quarter of the year 2023, putting Saudi Arabia in a better position to compete globally and advance towards Vision 2030. Saudi Arabia Pioneers Sustainable Agriculture Through Innovation RIYADH: As a result of the effects of climate change which the country is subjected to, Saudi Arabia has been implementing sustainable agriculture that includes horticulture technology such as vertical farming and treated water farming. These include the National Research and Development Center for Sustainable Agriculture (also known as Estidamah) and the Wadi Bin Hashbal mega farm. The use of vertical farming makes a water usage reduction of 98% as compared with conventional methods, and the crop that is being cultivated in vertical farms is strawberries. Held at the Wadi Bin Hashbal farm, the event showcased the Kingdom’s sustainable approach to water management, as it incorporated treated municipal and industrial wastewater for the cultivation of crops. All these initiatives conform to Saudi Arabia’s strategic directions for the development of its food security, sustainable water usage, and environmental policy in the context of climate change. NEOM Unveils Multi-billion Luxury Lifestyle Destination Magna RIYADH: Magna is the new luxury destination developed by NEOM – Saudi’s futuristic city coming up over a 26,500 km. sq. area. Magna is located on the edge of the Gulf of Aqaba, and will comprise of the recently announced premier destinations of Leyja, Epicon, Siranna, Utamo, Norlana, Aquellum, Zardun, Xaynor, Elanan, Gideri, Treyam and Jaumur. Featuring fifteen luxury hotels, 1600 rooms, and over 2500 residences, Magna will lead to the creation of15,000 jobs and contribute SR2. 6 billion to... --- > Are you someone looking to begin import export business in Saudi Arabia? Then this blog is specially for you. - Published: 2024-06-06 - Modified: 2024-07-28 - URL: https://analytix.sa/import-export-business-in-saudi-arabia/ - Categories: Articles Are you someone looking to begin import export business in Saudi Arabia? Then this blog is specially for you. A wide array of opportunities is waiting for you in the kingdom due to its growing market, diverse location, and many more. As someone with more than a decade of experience in the Saudi Arabian business landscape, Analytix is here with this comprehensive blog to make you informed with all the necessary information regarding the import-export business in Saudi Arabia. Overview of the Saudi Arabian Import Export Market The Kingdom of Saudi Arabia is positioned with Coastlines on both the Red Sea and the Persian Gulf and is divided into 13 provinces with Riyadh as the capital city. Saudi Arabia is the key global player in oil and gas production and export as it holds 17% of the world’s proven petroleum reserves. The Kingdom holds business-friendly policies including the allowance of 100% ownership in the trading sector which attracts businesses looking for investment and to explore new export markets. The abundant oil sector drives high imports such as rice, sugar, tea, coffee, meat, and chicken. There is a substantial need for imports in Saudi Arabia with its large and growing population. The growing oil and chemical processing industries also requires significant imports of specialized machinery and equipment, and this highlights the dynamic and robust nature of the Saudi-Arabian import-export market. Major Export Business in Saudi Arabia Saudi Arabia's exports are a big deal globally. The key export markets of the kingdom include India, Japan, South Korea, the United States, and Egypt. Now, let us look at the major exports of Saudi Arabia: Crude Oil Saudi Arabia is the world's largest producer of crude oil, with an annual output of about 4 billion barrels. The economic growth of the kingdom is largely influenced by its vast oil and natural gas reserves estimated to be around 265 billion barrels. In May 2020, KSA exported an approximate 6 million barrels of crude oil per day with over 600,000 barrels exported to the US. Polymer Ethylene Saudi Arabia plays the lead in exporting LLDPE (Linear Low-Density Polyethylene) to China, shipping 38,650 tons. From 2018 to 2019, the polymer exports of Saudi Arabia to China increased by about 30 % and in 2021, KSA was one of the top polymer exporters. Mineral Products KSA has a diverse mineral export market with significant reserves of various minerals, including gas, copper, gold, and bauxite. Chemical Products Saudi Arabia is a key player in the global chemical industry with the export market of a variety of chemical products. Plastics and Rubbers The Kingdom exports substantial quantities of plastics and rubbers which are essential for various manufacturing processes worldwide. Metals Saudi Arabia holds abundant mineral resources making it one of the important export businesses of the kingdom. Transportation Equipment The kingdom also exports transportation equipment and has proven to be a country of strong industrial capabilities. Major Import Business in Saudi Arabia Saudi Arabia plays an important role in the... --- > In a major boost to Saudi Arabia’s investment appeal, 127 international companies relocated their regional headquarters to the Kingdom in the first quarter of 2024. - Published: 2024-06-06 - Modified: 2024-07-03 - URL: https://analytix.sa/127-companies-move-regional-hqs-to-saudi-arabia-in-early-2024-surging-by-477/ - Categories: Daily News In a major boost to Saudi Arabia's investment appeal, 127 international companies relocated their regional headquarters to the Kingdom in the first quarter of 2024. This represents an impressive 477 percent increase from the same period in 2023, highlighting Saudi Arabia's growing allure as a prime business destination. The Saudi Ministry of Investment has played a crucial role in fostering a secure and competitive environment for investors. By working closely with various government agencies, the Ministry has significantly improved investment systems and procedures. These efforts have strengthened the Kingdom's legislative and regulatory framework, which is essential for attracting and retaining capital. To further encourage multinational companies to set up their regional headquarters in Saudi Arabia, the government has rolled out a series of attractive tax incentives. These include a 30-year exemption on corporate income tax and withholding tax related to headquarters activities, along with exclusive discounts and a range of support services such as relocation assistance, concierge services, and professional advice. This initiative marks a pivotal step in Riyadh's strategy to diversify its economy and reduce its reliance on oil. A recent report from the Ministry of Investment reveals that it successfully addressed 34 legislative and procedural challenges faced by investors, an 89 percent increase from the previous year. Additionally, the Ministry processed 445 investor visit visa applications, allowing international investors to explore opportunities within the Kingdom. The Ministry also provided over 58,000 services through its electronic platform, a 29 percent increase from the same period in 2023. Advisory services through comprehensive service centers now account for 40 percent of all services provided, reflecting the Ministry's commitment to offering robust support to investors. --- > In this blog, we will discuss the iqama transfer and related rules and regulations, announced by the Kingdom of Saudi Arabia. - Published: 2024-06-03 - Modified: 2025-05-15 - URL: https://analytix.sa/ksa-iqama-transfer-rules/ - Categories: Articles Like every other country, Saudi also has its mandate and set of rules and regulations for the employees working there. These regulations will be revised regularly. When employees switch from one company to another, they must clearly understand the legal procedures that follow such a transfer. It is important to fully understand the present rules and not commit any mistakes that welcome drastic consequences. Therefore Analytix has come up with this article to discuss the iqama transfer and related rules and regulations, announced by the Kingdom of Saudi Arabia. What is Iqama? To work in the Kingdom of Saudi Arabia, you must have a sponsorship and an official document as proof that you are employed legally. Iqama is an official identification and legal document issued by the Saudi Government that allows you to identify as an employee and grants permission to live and work in KSA. Iqama serves as your residence and work permit in the kingdom. Also Read: Business Setup in Saudi Arabia Different Types of Iqama There are different types of Iqama issued by the Saudi government to expats, depending on their purpose for staying in the Kingdom. Let us discuss the types of Iqamas here:Dependents Iqama: A dependent Iqama is issued to the family members of expatriates in order to bring them to the kingdom as dependents. Professional Class Iqama: The professional Iqama is issued for employees holding professional degrees. Business Iqama: The Saudi Government issues the business Iqama for businessmen, investors and entrepreneurs who is expanding their business to the kingdom. Government Employees Iqama: This is an Iqama issued for foreigners who are employed by the Saudi government. Domestic Worker Iqama: This Iqama is issued for the expats who are employed as household help. Labour Class Iqama: This type of Iqama is issued to manual job migrant workers. Premium Residency Iqama/Special Privileged Iqama: The Premium Iqama or Premium Residency in Saudi Arabia is a residence permit issued by the Saudi government to expatriates who wish to reside in Saudi while enjoying many of the rights and privileges enjoyed by Saudi nationals. What is Iqama Transfer? An iqama transfer means a change in the sponsorship. This usually happens when the employee switches his/her company or job. The process is complex and depends on the present company's directives, rules, and regulations and the employer’s willingness. There are certain costs associated with the KSA iqama transfer. The employee must cover the official fees and any additional charges imposed by the employer. It is imperative to promptly initiate the request for KSA iqama transfer as the procedure might take several weeks to a few months. Nevertheless, there is an obstacle here too. Not all iqamas are transferable and the transfer of an employee’s iqama completely depends on their current employer. It can become impossible for you to join the new company if your current employer rejects your transfer request. To address this issue, KSA has come up with new rules to ease the process and make it more flexible. Also... --- > Saudi Arabia this weekly update by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. from 26th to 31st May - Published: 2024-06-01 - Modified: 2024-09-05 - URL: https://analytix.sa/saudi-arabia-this-week-2/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 26th to 31st May 2024 Smart Cities Expo Empowers Cognitive Living in KSA Amid Urbanization Wave in KSA As Saudi Arabia advances in its urban development, smart cities have become a cornerstone of its strategic priorities. Reflecting the Kingdom’s commitment to sustainable growth through technology, the Smart Cities Saudi Expo will be held from September 24-26 at the Riyadh International Convention and Exhibition Center. The IMF recognizes Saudi Arabia as the fastest-growing G20 economy, with approximately 85% of its population residing in urban areas. The rapid urban population increase is driving the evolution of the Kingdom's infrastructure, necessitating smarter, more sustainable, and technologically advanced urban planning. Saudi Arabia to Host 13th Annual Meeting of Global Research Council Next Year The Global Research Council has selected Saudi Arabia to host its 13th annual meeting in 2025, as announced by the Saudi Press Agency. Represented by the Research, Development, and Innovation Authority and the King Abdulaziz City for Science and Technology (KACST), the Kingdom will partner with Turkiye’s Scientific and Technological Research Council for the event. This decision follows the 12th annual meeting held in Interlaken, Switzerland, co-hosted by the Swiss National Science Foundation and the Fund for Science, Technology and Innovation. Munir bin Mahmoud El-Desouki, KACST president and deputy chairman of the Global Research Council, emphasized the significance of the topics to be discussed at the forthcoming meeting in Riyadh. Saudi Arabia Participates in GCC Finance, Municipal Affairs Meetings in Qatar Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, led the Kingdom’s delegation at the 121st meeting of the Financial and Economic Cooperation Committee of the Gulf Cooperation Council (GCC) in Doha. Chaired by Qatar’s Minister of Finance, Ali bin Ahmed Al-Kuwari, and attended by other Gulf finance ministers and the GCC’s Secretary-General, Jassim Mohammed Al-Budaiwi, the meeting focused on enhancing financial and economic cooperation among GCC countries. Saudi Minister Meets Chinese and Moroccan Officials at World Health Assembly in Geneva At the 77th World Health Assembly in Geneva, Saudi Arabia’s Health Minister, Fahad Al-Jalajel, met with Cao Xuetao, China’s Deputy Minister of Health, to discuss enhancing cooperation in health services, health security, and investment opportunities in the health sector. Al-Jalajel also held talks with Morocco’s Health Minister, Khalid Ait Taleb, focusing on promoting global health and collaborative efforts between the nations. Saudi Arabia to be Guest of Honor at 2024 Beijing International Book Fair Saudi Arabia will be the guest of honor at the 2024 Beijing International Book Fair, scheduled for June 19-23. The Literature, Publishing, and Translation Commission is overseeing the Kingdom’s participation, which aims to showcase Saudi culture, foster knowledge exchange with China, and strengthen cooperation in literature and the arts. The Saudi pavilion will feature contributions from various sectors, including the Heritage Commission, the Culinary Arts Commission, the Film Commission, and other prominent cultural and educational institutions. --- > Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, led the Kingdom’s delegation at the 121st meeting of the Gulf Cooperation Council’s Financial and Economic Cooperation Committee in Doha, Qatar - Published: 2024-05-31 - Modified: 2024-07-03 - URL: https://analytix.sa/saudi-arabia-joins-in-finance-and-municipal-affairs-meeting-in-qatar/ - Categories: Daily News On Thursday, Saudi Arabia's Finance Minister, Mohammed Al-Jadaan, led the Kingdom's delegation at the 121st meeting of the Gulf Cooperation Council's Financial and Economic Cooperation Committee in Doha, Qatar. According to the Saudi Press Agency, chaired by Qatar's Finance Minister, Ali bin Ahmed Al-Kuwari, the meeting included other Gulf finance ministers and GCC Secretary-General Jassim Mohammed Al-Budaiwi. The ministers discussed enhancing financial and economic cooperation among GCC countries and reviewed the Undersecretaries of Ministries of Finance Committee recommendations. They also examined the progress of the GCC Customs Union Authority, focusing on activating its work and granting it necessary powers. Al-Budaiwi highlighted the committee's significant role in promoting cooperation and integration among GCC countries in financial and economic fields. Saudi Arabia and Qatar Sign Agreement to Prevent Double Taxation Saudi Arabia and Qatar have signed an agreement to prevent double taxation and tax evasion. Saudi Finance Minister Mohammed Al-Jadaan and his Qatari counterpart Ali Al-Kuwari signed the deal in Doha. Al-Jadaan stated that the agreement aims to enhance legislative coordination, boost bilateral trade, and attract investment. Al-Kuwari emphasized the agreement's importance in promoting transparency and cooperation in taxation and economic relations. --- > The Kingdom of Saudi Arabia and Austria have taken a big step together to boost economic cooperation by signing a new MoU (Memorandum of Understanding). - Published: 2024-05-29 - Modified: 2024-07-03 - URL: https://analytix.sa/saudi-arabia-and-austria-sign-mou-to-boost-economic-cooperation/ - Categories: Daily News The Kingdom of Saudi Arabia and Austria have taken a big step together to boost economic cooperation by signing a new MoU (Memorandum of Understanding). His agreement was made during the Saudi-Austrian Joint Committee meeting in Vienna. The MOU was signed by Faisal bin Fadel Al-Ibrahim, Minister of Economy and Planning of Saudi Arabia, and Martin Kocher, Minister of Labor and Economy, Austria. The goal is to diversify and strengthen the economic ties, share experiences, and information, and encourage collaboration in areas like trade, industry, research and development, tourism, and SMEs. The agreement also includes plans to organize conferences, seminars, and exchange visits along with fostering cooperation between government bodies and the private sector. Both countries are committed to protecting intellectual property rights and sharing information as specified in the MoU. This new MoU builds on an existing cooperation agreement from 2004, aiming to enhance economic, commercial, industrial, and technical relations between the two nations. --- > Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. - Published: 2024-05-28 - Modified: 2024-07-28 - URL: https://analytix.sa/saudi-arabia-this-week/ - Categories: Daily News Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 20th to 25th May 2024 Non-oil exports of Saudi Arabia witnessed a rise of 3. 3 %, according to GASTAT The non-oil exports of Saudi Arabia witnessed an annual rise of 3. 3 percent in the initial quarter of 2024, coupled with an increase in the value of re-exports according to the official data by the General Authority for Statistics, Saudi. As per the data, even though the national non-oil exports experienced a minor decline of 5. 2 percent, the value of re-exported goods spiked by 31. 5 percent during the same time. The trend emphasizes the emerging role of Saudi Arabia as a logistical hub which is an important goal of growth and diversification strategy as a part of pioneering Vision 2030. The Kingdom of Saudi Arabia secures membership in the ITF (International Transport Forum) KSA secured a membership in the International Transport Forum on the periphery of the events held in Leipzig, Germany. Saleh bin Nasser Al-Jasser, the Minister of Transport and Logistics said that the membership symbolizes the kingdom’s commitment to addressing transportation challenges through various innovative and sustainable solutions. This also boosts the transport and logistics sector of the kingdom, highlighting Saudi’s goal of becoming a global logistics center as a part of pioneering Vision 2030. The Kingdom of Saudi Arabia to launch the 3rd European Film Festival. Saudi Arabia is all set to launch the third European Film Festival by next week, hosted in both Riyadh and Jeddah. The event kicks off next week, from May 29 to June 6, and is organized by the European Union Delegation to the Kingdom, in collaboration with the embassies of EU member states and Arabia Pictures. It will take place at VOX Cinemas Century Corner in Riyadh and the newly opened VOX Cinemas Jeddah Park in Jeddah. This year’s festival is the largest yet featuring 21 European films from countries such as Austria, Belgium, Bulgaria, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Lithuania, the Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, and Sweden. KSrelief continues to provide aid in Sudan, Somalia, Lebanon, and Yemen. KSrelief, the aid agency of KSA has been actively continuing the humanitarian projects in countries including Sudan, Somalia, Lebanon, and Yemen. The agency distributed 950 personal hygiene kits to the displaced and needy families in Sudan, benefitting 5463 individuals. In Lebanon, KSrelief continued the Al-Amal Charitable Bakery Project in Akkar and Miniyeh, distributing 150,000 loaves of bread daily to Syrian and Palestinian refugee families, helping about 62,500 individuals. In Yemen, 897 food parcels were delivered in Al-Abr, benefiting 6,237 people as part of the Kingdom's humanitarian efforts. In Somalia, KSrelief continued offering medical services in partnership with the Kidney Dialysis Center at Banadir Hospital in Mogadishu, serving 384 patients and providing dialysis, medical examinations, and emergency sessions. Saudi Arabia to Host UNCTAD Global Supply... --- > Thinking of setting up a manufacturing business in Saudi Arabia and do not know where to begin? Then this blog is for you. - Published: 2024-05-24 - Modified: 2024-05-24 - URL: https://analytix.sa/manufacturing-business-in-saudi-arabia/ - Categories: Articles Thinking of setting up a manufacturing business in Saudi Arabia and do not know where to begin? Worry not! With over a decade of expertise in the Saudi Arabian Business landscape and as an on-ground partner for entrepreneurs and investors in the kingdom, Analytix is here to paint the whole picture with this comprehensive blog to help you begin your journey of starting a manufacturing business in Saudi Arabia. Manufacturing is one of the most important and rapidly growing industries in Saudi Arabia. The kingdom has made massive efforts to make headway towards opening up its manufacturing market to international/foreign investors. The Saudi Government, keen on diversifying the kingdom's economy and growing beyond oil dependency, has launched several incentives to attract investors worldwide to the manufacturing industry and offer greater opportunities. Requirements for Starting a Manufacturing Company in Saudi Arabia The Kingdom of Saudi Arabia offers plenty of opportunities for investors and businesses to thrive and grow in the manufacturing industry. Therefore the businesses are required to completely understand the relevant requirements that MISA (Ministry of Investment Saudi Arabia) will request for the review to approve the application of the company or business. However, let us take a look at the requirements the companies need to fulfil to start a manufacturing company in Saudi Arabia. A licensed manufacturing company in Saudi Arabia can be filly or solely owned by a foreign shareholder who is a non-Saudi national. A manufacturing license issued by the Ministry of Investment in Saudi Arabia (MISA) to foreign businesses and individual shareholders. An enterprise can obtain the industry license as: 1. a subsidiary of a foreign company 2. a branchThe parent company must demonstrate good financial position/capacity through the submission of the audited financial statements. Companies should have a nominal share capital concerning the size of their operation in Saudi Arabia. Businesses must sell at least 30 percent of the production within the kingdom. Companies can sell their produced goods to businesses and distributors within the kingdom with a manufacturing license. How to Start a Manufacturing Business In Saudi Arabia All entrepreneurs/investors who aspire to establish a manufacturing business in Saudi Arabia will have many questions in their minds such as where, when, and how to begin with. Here, we are going to discuss the important steps for setting up a manufacturing business in Saudi Arabia. All foreign/non-GCC national-owned businesses should get their company documents legalized and attested by the Saudi Arabian Embassy. As a first step, businesses should obtain a manufacturing license from the Ministry of Investment for Saudi Arabia (MISA). After procuring a manufacturing license, the company must be registered with the Ministry of Commerce, Saudi Arabia. Afterwards, the company is required to secure:a land contract for the manufacturing facility. essential building permits from the MunicipalitySubsequent to that, a final industrial license is issued by the Ministry of Industry and Mineral Resources. Thereafter, the company must complete all the relevant environmental permits. After completing the commercial registration (CR), businesses must obtain certain additional registrations... --- > Prince Abdulaziz bin Salman stated that the Al-Ghat and Wa’ad Alshamal wind power projects have made Saudi Arabia set new world records for cutting the cost of generating electricity from wind energy. - Published: 2024-05-24 - Modified: 2024-07-03 - URL: https://analytix.sa/saudi-arabia-sets-world-records-in-wind-energy-costs-with-al-ghat-and-waad-alshamal-projects/ - Categories: Daily News During his recent visit to Tokyo Japan, the Minister of Energy of Saudi Arabia, Prince Abdulaziz bin Salman stated that the Al-Ghat and Wa’ad Alshamal wind power projects have made Saudi Arabia set new world records for cutting the cost of generating electricity from wind energy. “This great step would support the Kingdom’s plans to raise the share of renewable energy to 50 percent of the electricity mix by 2030,” he said in an interview during the signing of energy agreements on the sideline of the Saudi-Japan Vision 2030 Business Forum in Tokyo on Tuesday. As part of the 4th round of the Saudi National Renewable Energy Program (NREP), which is being overseen by the Ministry of Energy, the Saudi Power Procurement Company sealed two deals with Japan’s MARUBENI Corporation for purchasing power from AlGhat Wind Project at 600MW and Wa’ad Alshamal Wind Project at 500MW. The agreements were signed after the ministry opened the competitive bidding for each project. Both these companies set new world records for the total cost of electricity in wind energy projects. The new world record for cost of electricity production from wind power is 1. 56558 cents/kWh for AlGhat and the second record-making project is the Wa’ad Alshamal at 6. 59 cents/kWh. --- > In this blog, we will discuss the various types of companies in Saudi Arabia along with key features, legal requirements, pros and cons of each. - Published: 2024-05-24 - Modified: 2025-05-17 - URL: https://analytix.sa/types-of-companies-in-saudi-arabia/ - Categories: Articles Are you curious about starting a business in the kingdom and want to explore different types of companies in Saudi Arabia? Then this blog is for you. Here, we will discuss the various types of companies in Saudi Arabia along with key features, legal requirements, pros and cons of each, and many more. With over a decade of expertise in the Saudi Arabian Business landscape, Analytix is here to help you understand and analyze different company types in Saudi Arabia. Types of Companies Available for Investors in Saudi Arabia While establishing businesses in Saudi Arabia, Investors and entrepreneurs have several company types to choose from. Each company type has its own legal rules, advantages, and drawbacks. After analyzing these in detail, investors can decide on a company type that suits their business field. Below are the different types of businesses/companies available for investors in Saudi Arabia:Joint-stock companyLimited Liability CompanyEstablishment/Sole ProprietorshipLimited Partnership CompanyJoint VentureNow, let’s take a closer look at each type of company form, break down what each one means, and discuss the pros and cons in detail. 1. Joint Stock Company A joint stock company is a type that enables a group of shareholders to come together and jointly establish and manage a business entity. It is a business type suitable for foreign investors interested in setting up large-scale business operations in the kingdom. Some of the main characteristics of a joint stock company are:Must have at least two shareholders. Must have at least three directorsThe shareholders are liable for the debts of the joint stock company only to the extent of their capital shares. There are nationality requirements for the shareholders. The joint stock company can be fully owned by one or more natural persons or companies who can be foreigners. The Saudi Ministry of Commerce regulates joint stock companies and sets rules, regulations, and procedures for their establishment and operation in the Kingdom of Saudi Arabia. SAGIA (Saudi Arabian General Investment Authority) must approve the formation of a joint stock company in which a foreign party is to have an interest by granting a license authorizing the foreign party's investment in the company. The businesses must comply with the laws of joint stock companies and provide financial reports, disclosures, and other relevant documents regularly. Saudi joint stock companies should appoint an auditor and file audited financial statements every year. Now let us have a look at the pros and cons of a joint stock company:Pros:Increased ability to raise capital through the sale of shares. Clear separation between ownership and managementLimited liability for shareholders. Cons:Strict and Stringent regulatory requirements. Complex governance structure. Dilution of ownership control. 2. Limited Liability Company A Limited Liability Company is one of the most common legal entities preferred for incorporation in the Kingdom of Saudi Arabia. An LLC can be registered by a single shareholder and one director. This type of company may have a maximum of 50 shareholders. There are no specific capital requirements for establishing this form of business, although the... --- - Published: 2024-05-20 - Modified: 2024-07-03 - URL: https://analytix.sa/jaumur-neoms-luxurious-coastal-community-in-the-gulf-of-aqaba/ - Categories: Daily News Saudi Arabia’s $ 500 billion futuristic city NEOM will feature a unique project named ‘Jaumur’ - a large cosmopolitan luxury community situated by the Gulf of Aqaba. It was designed to accommodate over 6,000 residents along the Gulf of Aqaba coast and features a marina located in the community center. The luxury community will have 500 marina apartments offering water access and 699 villas with private mooring facilities. There will be two destination hotels with an impressive 350 guest rooms featuring modern hospitality facilities and sports. The suites will be decorated to offer guests spectacular panoramas of the lakes and beaches that surround them. A spokesman for NEOM stated that the objectives of Jaumur include leading the way for ocean living of tomorrow by marrying land and sea experiences in general living to create unique, active lifestyles. Jaumur will also promote innovation and lifelong learning with its state-of-the-art deep-sea research and a premium international boarding school. The marine research institute is committed to deep-sea exploration with a vision of developing NEOM as a world-wide leader in oceanographic research by hosting academics as well as experts in marine discovery and conservation. The marina which occupies the center of the community will have an awe-inspiring 5-kilometer long aerofoil structure. This ensures all-year-round safety for yachts as well as a spectacular appearance for the world's largest superyachts in the harbor. The aerofoil structure sustains itself as a landmark as well as catering to people who love watersports and the yacht. NEOM is a region spanning a 26,500 kmsq area in the Tabuk region of northwest Saudi Arabia. This extension builds on the previous announcements of sustainable tourism destinations within the Gulf of Aqaba, namely, Leyja, Epicon, Siranna, Utamo, Norlana, Aquellum, Zardun, Xaynor, Elanan, Gidori, and Treyam, all of which share NEOM’s vision to advance sustainably. --- > Curious to know what is the national investment strategy saudi arabia? Read the blog to know further about NIS. - Published: 2024-05-16 - Modified: 2024-05-18 - URL: https://analytix.sa/national-investment-strategy-saudi-arabia/ - Categories: Articles Wondering what is the National Investment Strategy Saudi Arabia? In our blog series on various government initiatives in Saudi Arabia, the next one is Saudi National Investment Strategy. Curious to know what the Saudi Arabia National Investment Strategy is? Read the blog to know further. Happy reading! What is the National Investment Strategy? National Investment Strategy (NIS), is an initiative of the Kingdom of Saudi Arabia to increase the quality and quantity of investment in the country thus boosting economic development in Saudi Arabia and achieve Vision 2030 goals, across priority sectors like domestic and international sectors. The main goal of the National Investment Strategy Saudi Arabia is to boost the economic growth of the country, thus driving more job opportunities for Saudi citizens, and reducing Saudi Arabia's dependence on oil exports and oil revenues. The major aim of this program is to triple the investment in Saudi Arabia from 2019 to 2030 by increasing the investment from 22% of GDP in 2019 to 30% in 2030. The program also plans to boost FDI from 20x in 2019 from SAR 17bn to 388bn in 2030 and drive new investments in emerging sectors. What is the Main Entity Responsible for Implementing the Saudi National Investment Strategy? The Ministry of Investment is the main entity in Saudi Arabia responsible for implementing the National Investment Strategy Saudi Arabia. Various government institutions work together to achieve intended coordination between various entities to make the kingdom of Saudi Arabia an investment friendly nation. NIS and Vision 2030 The Saudi National Investment Strategy is combined with various other Vision Realization Programs along with other national strategies, like:Quality of Life ProgramPrivatization ProgramFinancial Sector Development ProgramThe Public Investment Fund ProgramThe National industrial Development and Logistics program Sectors To Gain from National Investment Strategy Saudi Arabia Saudi Arabia National Investment Strategy, is a comprehensive plan to leverage the economic growth of the country. Though NIS plans for an overall financial growth of the country, there are some main sectors that will get exclusive benefit from the ambitious Saudi National Investment Strategy. They are:ManufacturingTourismRenewable EnergyDigital InfrastructureTransport and LogisticsHealthcare Four Pillars of National Investment Strategy Saudi Arabia The National Investment Strategy Saudi Arabia has four pillars, and each one has independent goals under which many programmes andInitiatives are planned. As there are differences between investment opportunities in Saudi Arabia and required reforms to implement the same, the NIS is delivered in 2 tracks. The first includes short to medium term initiatives, and the second one focuses on sustainable and long term initiatives. The major 4 pillars of Saudi Arabia National Investment Strategy are: Investment Opportunities Develop and accelerate investment opportunities in all economic sectors in the country, by launching Supply Chain Attraction Program, finding investment opportunities for each sector and connecting with Invest Saudi. Investors Increase the participation of investors in the investment system, by engaging with private sectors and increasing the scope of Shareek program by enhancing the cooperation of large Saudi companies in achieving national investment objectives. Financing The... --- > Let's explore the details of upcoming business events in the Kingdom. - Published: 2024-05-13 - Modified: 2024-07-03 - URL: https://analytix.sa/must-attend-business-events-in-saudi-arabia-may-2024/ - Categories: Daily News Saudi Arabia is gearing up to host a spectacular array of business events, spanning diverse industries and attracting global attention. From exhibitions showcasing the latest innovations to summits fostering collaboration and knowledge exchange, these events promise unparalleled opportunities for networking, learning, and growth. Let's explore the details of upcoming business events in the Kingdom:Saudi Print & Pack (May 6 - 9, Riyadh International Convention and Exhibition Center)With 522+ exhibitors, this event facilitates networking opportunities and business prospects in the printing and packaging industry. The Saudi Plastics & Petrochem 2024 (May 6 - 9, Riyadh International Convention and Exhibition Center) A platform to discover the latest innovations in plastics and petrochemicals, fostering face-to-face meetings and industry advancements. Saudi Smart Manufacturing 2024 (May 6 - 9, Riyadh International Convention and Exhibition Center)A platform to discover the latest innovations for the manufacturing industry, providing insights into market trends and global supplier connections. Saudi Smart Logistics 2024 (May 6 - 9, Riyadh International Convention and Exhibition Center)Focused on the logistics sector, this event offers opportunities for networking and exploring advancements in supply chain management. International Geotechnical Innovation Conference (IGIC 2024) (May 6 - 7, Jeddah Hilton)Exclusive meetings with geotechnical contractors and insights into upcoming infrastructure projects such as skyscrapers, rail, and bridges. Middle East Process Engineering Conference & Exhibition (May 6 - 8, Dhahran)With 150 exhibitors, this event serves as a forum for exchanging ideas, technologies, and best practices in process engineering. JIBEX 2024 - Construction Industry in Saudi Arabia (May 7 - 9, Jeddah Center for Exhibition and Event)Featuring 500+ exhibitors, this is the largest construction and decoration exhibition in the western region of KSA, offering direct communication with decision-makers and suppliers. Saudi Entertainment and Amusement (SEA) Expo (May 7 - 9, RFECC, Riyadh)With hundreds of international and local brands from over 40 countries, this expo showcases the latest in entertainment and amusement offerings. The Saudi Light and Sound (SLS) Expo (May 7 - 9, Riyadh Front Exhibition & Conference Center)Featuring 350+ exhibitors, this expo highlights event technology, lighting design, and audio innovations, providing a platform for accelerating projects. Smart Future Expo 2024 (May 13 - 15, Riyadh Front Exhibition & Conference Center)With 50+ exhibitors, this expo brings together thought leaders, innovators, and makers from all sectors to explore the future of smart technology. Saudi Giga Projects 2024 (May 13, Hilton Riyadh Hotel & Residences)Bringing together 150+ companies and 450+ summit attendees, this summit offers the opportunity to interact with C-level executives and key stakeholders in major projects across the region. STATIC Arabia - Middle East International Conference & Exhibition on Industrial Sector (May 13 - 15, Dhahran Expo, Al Khobar)Focused on equipment sectors, this conference and exhibition showcase the latest industrial innovations and technologies. TANKCONEX - International Storage Tank and Terminal Technology Conference and Exhibition (May 13 - 15, Dhahran Expo, Al Khobar)With 100+ exhibitors and 70+ speakers, this event offers insights into terminal industry advancements and networking opportunities with global experts. 2nd Health Tech Innovation Summit & Expo (May 13 -... --- > This Blog gives you an idea on various visa types in Saudi Arabia and the key essential requirements of each visas in detail. - Published: 2024-05-10 - Modified: 2024-11-30 - URL: https://analytix.sa/visa-types-in-saudi-arabia/ - Categories: Articles Planning to visit Saudi Arabia? Curious to know what are the visa types in Saudi Arabia? Then this blog is for you! Understanding of various Saudi visa types is essential before you plan a visit to the country. Read the blog fully to get a comprehensive idea on various visa types in Saudi Arabia and understand the key essential requirements of each visas in detail in this blog! How many types of visas are there in Saudi Arabia? Saudi Arabia provides various types of visas, considering the situation and need of the applicant. Below we have listed various Saudi Arabia visa categories issued by the Saudi kingdom. Go through it and choose one that better matches with your need to visit the country. Government VisaEmployment VisaDiplomatic & Official VisasDiplomatic Missions & OrganizationsTourist VisaPremium Residency VisaBusiness Visit VisaResidence VisaNewborn VisaExtension of Exit/Re-Entry VisaFamily Visit VisaStudent VisaCompanion VisaPersonal Visit VisaHajj and Umrah Visa Explore Various KSA Visa Types to Visit, Live and Work In Saudi Arabia Business Visit Visa Saudi Arabia Business visit visa Saudi Arabia is a popular ksa visa types that allows the foreigners to visit the country for short official business purposes like business meetings, training events, business discussions, and business deals. The duration of this visa can vary from 30 days to 90 days depending upon your visa validity. It is up to the sole discretion of the Saudi government to decide whether the visa applicant will get a single entry or multi entry visa. 3-month single entry Saudi Visa6-month and 12-month saudi business visa multiple entryDocuments Required:Original passport valid for 6 months with at least 2 empty visa pagesAll Non US citizens planning to visit the country must obtain health insurance from the Kingdom of Saudi ArabiaElectronic invitation from any Saudi company in the countryEmployment verification letter from the employerA copy of the company's business registration in Saudi Arabia. Permanent Family Visa for Saudi Arabia If you are a close relative of someone working in Saudi Arabia, and want to visit them, then you have to get a permanent family visa for Saudi Arabia. The condition to apply for a family visa is that the only legal Saudi Iqama holder can apply for this type of visa on behalf of the visitor. And this Iqama holder starts the visa process of MOFA family visit application process in the country, given that the Iqama should have a 4 month validity. Following are the immediate family members eligible to get a family visit visa to Saudi Arabia. ParentsHusband or wifeChildrenFather-in-law and mother-in-lawBrothers or sisters and their families Documents Required: Original passport valid for 6 months with at least 2 successive empty visa pagesAll Non US citizens planning to visit the country must obtain health insurance from the Kingdom of Saudi ArabiaA visa referral note, showing date and number of visa, issued by Saudi Ministry of Foreign AffairsProof of the relationship between the applicant and inviter in the country, along with relationship proof between applicant themselvesMinors under the age of... --- > Curious to know about the taxation in Saudi Arabia? In this blog, we provide all information regarding the tax system in Saudi Arabia - Published: 2024-05-10 - Modified: 2024-05-11 - URL: https://analytix.sa/taxation-in-saudi-arabia/ - Categories: Articles Is there any tax in Saudi Arabia? This might be the question you have since the day you started your new life in the kingdom? Curious to know about the taxation in Saudi Arabia? Then this blog is for you! Saudi Arabia is in its path to achieve its ambitious plan of Vision 2030 and the nation is witnessing tremendous economic changes, and is open to international businesses, inviting global investors and enterprises to contribute to the national income, by entering the Saudi market. So it is imperative for global investors and businesses to have a comprehensive idea regarding the taxation in Saudi Arabia before entering the Saudi financial market. Below are some general information regarding the taxation in Saudi Arabia:There is no personal income tax in Saudi ArabiaNo local or regional taxForeign owned Saudi entities have to pay competitive tax Saudi Arabia has single tax authority - Zakat, Tax and Customs Authority (ZATCA)Businesses have their own internal financial year, thus no standard tax yearElectronic process can be completed through single web portal available in EnglishCurious to know more about the tax system in Saudi Arabia? Read the blog further! What’s new about taxes in 2024? Saudi Arabia started a 30-year tax relief initiative on 1 January 2024, for multinational corporations operating regional headquarters (RHQ) within the kingdom of Saudi Arabia. The eligible companies can enjoy the liberty to pay zero withholding tax and zero corporate income taxes for approved operations in the kingdom. Tax amnesty initiative of the country, “Cancellation of Fines and Exemption of Financial Penalties“, introduced in March 2020 to help the business mitigate the financial effect of COVID -19 pandemic was extended and will officially run till 30 June 2024. Who pays tax in Saudi Arabia? Your tax obligation depends upon whether you qualify to be considered a Saudi tax resident. An expat is considered a tax resident of Saudi Arabia, if you have a permanent residence in the country and live in the country for at least 30 days of the tax year. The residents of the kingdom have to pay social security contributions. The foreign residents running their own businesses have to make business tax in the country. VAT and excise duties have to be paid by every resident of the kingdom. Zakat which is levied in both individuals and businesses has to be paid by both Saudi citizens and GCC nationals. The decision to pay Zakat by expat is purely dependent on them, although it is not compulsory for the expat to pay Zakat. Tax System In Saudi Arabia for Expats Tax laws in Saudi Arabia are different for residents and expats. Non residents earning money or doing business in the country have to pay withholding tax in the country. This is the amount of money that the country or company paying to the person is returned back to the kingdom. Withholding tax can be 5%, 15% or 20% depending upon the type of your business. To prevent non-residents from paying double tax;... --- > Keeping in line with Saudi Vision 2030 goals, the GDP of Saudi Arabia is witnessing consistent growth. The total GDP of Saudi Arabia rose by 1.3 percent in the first quarter of 2024 compared to the previous quarter. - Published: 2024-05-09 - Modified: 2024-07-03 - URL: https://analytix.sa/saudi-arabias-economy-shows-consistent-growth/ - Categories: Daily News Keeping in line with Saudi Vision 2030 goals, the GDP of Saudi Arabia is witnessing consistent growth. The total GDP of Saudi Arabia rose by 1. 3 percent in the first quarter of 2024 compared to the previous quarter. This increase is a result of the rise in GDP of both the oil and non-oil sectors, which increased by 2. 4 percent and 0. 5 percent respectively. Saudi’s General Authority for Statistics (GASTAT) revealed that even though the real GDP of Saudi Arabia increased by 1. 3% in Q1 2024 compared to the previous quarter, there has been a decrease in real GDP compared to Q1 2023. This is mostly due to the fall in oil activities which reduced by 10. 8% year-on-year in Q1. The good news is that non-oil activities marked a 2. 8% year-on-year increase in the first quarter while government activities increased by 2% for the same period. The Kingdom of Saudi Arabia has been actively supporting diversification and investment in non-oil sectors in line with its national development program Saudi Vision 2030. Saudi has reduced its oil output by 500,000 barrels per day since April 2023 after reaching an agreement with the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to retain market price stability. The Kingdom’s non-oil activities are playing a major part in the nation’s GDP increase. In 2023, Saudi’s non-oil sector grew by 4. 4% compared to the previous year. The share of non-oil exports in Saudi’s total exports has also been increasing. China, India and Japan are the Kingdom’s largest trading partners. --- > May 8 will feature the inauguration of the initial European Chamber of Commerce of the Gulf region in Riyadh, Saudi Arabia - Published: 2024-05-06 - Modified: 2024-07-03 - URL: https://analytix.sa/gulfs-first-european-chamber-of-commerce-to-come-up-in-riyadh/ - Categories: Daily News May 8 will feature the inauguration of the initial European Chamber of Commerce of the Gulf region in Riyadh, Saudi Arabia. The European Chamber of Commerce hailed this as a ‘historic’ milestone on their official website in Saudi Arabia, marking it as a vital turning point in boosting trade ties between the European Union (EU) and Saudi Arabia. The primary aim of the European Chamber of Commerce in KSA (ECCKSA) is to be listed as the representative office for all European corporations in the Gulf Cooperative Council (GCC) zone, providing them with the support and voice of the EU. Its core mission is to facilitate market entry for member businesses in the free trade area, regardless of whether they are Western or Saudi. This chamber will establish collective committees permitting members to focus on sector-specific challenges within their communities. They will, in turn, provide constant insights and recommendations that would help businesses enter the market and eventually bring economic growth to the Kingdom. The mechanism continues the process started during the Saudi-European Investment Forum in October 2023, reaffirming the importance of EU-Saudi trade relations for continued economic progress. The Minister of Investment and Industry of Saudi Arabia, Khalid Al-Falih, pointed out that the trade turnover grew to around 80 billion dollars in 2022. This was accompanied by a boost in foreign direct investment that involved more than 1300 EU firms investing in Saudi Arabia from across various sectors. Maros Sefcovic, Executive Vice President of the European Commission mentioned their interest in maintaining dialogue with multilateral trade policy agendas. In 2022, the European Union-Saudi Arabia trade volume was 75 billion euros, much higher than that of the previous years, while Saudi Arabia attracted 55 billion euros of foreign direct investment in 2021. --- > Understanding each of saudi government portal is necessary to ease your work and avoid complications, when you set up a business. - Published: 2024-05-04 - Modified: 2024-09-17 - URL: https://analytix.sa/saudi-government-portal/ - Categories: Articles Do you own a business in Saudi Arabia? Facing trouble to understand various government portals to manage your business and labours? Then reading this blog will help you understand various Saudi government portal. A thorough understanding of each of these government portals are necessary to ease your work and avoid complications, when you set up a business in Saudi Arabia. So let's get started! Importance of Saudi Government Portal The Saudi government portal is an important element of the efficacy of the government in enhancing accessibility to its government services. It promotes transparency, and facilitates active citizen engagement. Understanding of each government portal of Saudi Arabia is essential to ensure that your business is in compliance with the investment and commerce regulations (MISA, MoC). No matter if you have to manage your labour and taxation aspects (MoL, GAZT) and ensure product safety and municipal compliance (SPL, Mudad), a thorough understanding of each portal in Saudi Arabia is essential. What are the Key Government Portals to Manage your Business in Saudi Arabia Ministry of Investment of Saudi Arabia (MISA) MISA is a Saudi Arabia portal that offers advisory services to businesses and organizations that plan to invest in Saudi Arabia. It allows the businesses to apply for investment licenses online, amend licenses, issue the GM Visa, and it also provides advisory on their expansion. Chamber of Commerce - Riyadh (CoC) Chamber of Commerce - Riyadh (CoC) is a business portal that helps the companies to activate their business account, manage business information, receive e-document certification, etc. In Saudi Arabia, the Chamber of Commerce supports and represents the business community in Saudi Arabia. Ministry of Labour (MoL) The Ministry of Labour of Saudi Arabia oversees the regulation of labour laws and ensures that both the rights and obligations of employers and employees are upheld and none of them are denied of their rights in the country. General Authority of Zakat and Tax (GAZT) This Saudi government portal provides e-services under the Ministry of Finance, and collects the taxes and zakat (net worth tax, a religious wealth tax). Saudi Post (SPL) Saudi Post is a government portal providing postal, logistics and shipping, and services within the country and internationally. The SPL portal also helps the businesses to register office addresses in the kingdom and individuals to have their own home address. It also has some other services like P. O. BOX etc. Electronic Platform for the Ministry of Human Resources and Social Development (QIWA ) This Saudi government portal is a digital platform providing all services related to the labour market. This platform offers an interactive Saudization plan and certificate. Every foreigner living in Saudi Arabia must register themselves on the QIWA platform. The Ministry of Human Resource and Social Development (HRSD) aims to provide more than 80 services to the labour sector through the QIWA platform. HRSD is working in cooperation with respective authorities to facilitate the registration of the employees as well as maintaining and handling the work contracts coordinating with... --- > Lucid, a leading US-based manufacturer of electric vehicles (EV) has made a partnership agreement with Saudi Arabia’s King Abdulaziz City for Science and Technology (KACST) to develop EV technology in the Kingdom. - Published: 2024-05-03 - Modified: 2024-07-03 - URL: https://analytix.sa/lucid-and-kacst-sign-partnership-to-develop-ev-technology-in-saudi-arabia/ - Categories: Daily News Lucid, a leading US-based manufacturer of electric vehicles (EV) has made a partnership agreement with Saudi Arabia's King Abdulaziz City for Science and Technology (KACST) to develop EV technology in the Kingdom. Lucid is backed by Saudi’s Public Investment Fund and will team up with the KACST team to conduct joint research on developing battery technologies, aerodynamics, autonomous driving, and artificial intelligence. Faisal Sultan, the company's Vice President and Managing Director for the Middle East, highlighted that collaborative effort will be used to facilitate the transition to sustainable energy. The research to be undertaken by Lucid and KACST will extend to the investigation of the performance of electric vehicles in the Kingdom’s climate. The partnership will establish a joint R&D headquarters at KACST’s national laboratories. This facility is scheduled to be completed by Q3 of 2024. Talal bin Ahmed Al Sudairi, the Senior Vice President for the Research and Development sector at KACST emphasized the project's importance in developing electric vehicle systems and advancing autonomous driving technologies. Lucid opened its first plant outside the United States in Saudi Arabia last year with an initial capacity to develop 5000 units per year. The Saudi government has announced that it will purchase 100,000 EVs from Lucid over a decade, emphasizing its support for sustainable transportation and combating climate change. This cooperation between Lucid and KACST looks to play a major role in developing solutions for the transportation and energy sectors and contributing to the economic growth and sustainability goals of the Kingdom of Saudi Arabia. --- > This blog discusses giga projects in saudi arabia and how it contributes strategically to the economic development and diversification of the country. - Published: 2024-05-03 - Modified: 2024-11-30 - URL: https://analytix.sa/giga-projects-in-saudi-arabia/ - Categories: Articles Have you heard of Giga Projects in Saudi Arabia? Well, it is an ambitious plan of Saudi Arabia coupled with its mega plan of Saudi Vision 2030. This blog discusses Saudi Giga Projects and how it contributes strategically to the economic development and diversification of the country. So let’s get started! What are Saudi Arabia Giga Projects? Giga Projects of Saudi Arabia are the epicentre of the country’ economic growth and diversification. It is developed as part of crown prince Mohammad bin Salman's Vision 2030 plan to transform the country. The series of giant developments that were presented at the Cityscape conference in Riyadh, are known as Giga projects of Saudi Arabia. Total in 14, each Giga project is a huge scale ambitious project and many of them are funded by the Public Investment Fund of Saudi Arabia. The Giga project named Mohammed bin Salman Non-profit City is funded by the crown prince himself. Major Giga Projects in Saudi Arabia As discussed above, Giga projects are Saudi Arabia’s ambitious projects to transform its economy to a global hub of opportunities. There are 14 Giga projects in total, which are as listed below:Neom ProjectRed Sea ProjectQiddiya ProjectROSHNDiriyahKing Salman ParkJeddah CentralNew MurabbaSaudi DowntownMasar DestinationAl'UlaKing Abdullah Financial District (KAFD)Mohammed bin Salman Non-profit City (MISK)SEVEN Now let’s take each project and go in detail to delve deeper into each project to understand them better. Neom Project Neom meaning “new future,” is a vision for future, attracting forward thinking thinkers and entrepreneurs who are eager to provide real solutions for the global challenges through sustainable practices, both professionally and personally. It covers an area of 26,500 km over the region of Red Sea. NEOM includes projects like “THE LINE,” “Hexagon,” “Trojena,” and “Sindalah”, each representing a hub of new economic and cultural opportunities for both the Kingdom and foreign investors. Key informationNEOM is expected to contribute $48 billion to the GDP of Saudi Arabia by 2030. The ambitious self-sustaining megacity, "The Line” is expected to create about 380,000 new job opportunities in Saudi Arabia. In order to attract foreign investors and make them invest, The NEOM project zone will have a special tax and regulatory framework Focus Sectors:Real EstateRenewable Energy and SustainabilityRed Sea ProjectTechnology Red Sea Project Spanning over 28,000 km, the Red Sea project also described as “the world’s most ambitious luxury tourism development ” is a pioneering luxury global tourism destination on the western coast of the Kingdom. It is an important project of Vision 2030 and the main aim of this project is to attract travellers and tourists. Key informationThe Red Sea project is expected to contribute $4 billion annually to Saudi Arabia’s GDP. This project would be a game changer for the kingdom's job sector by creating 35000 job opportunities for tourism, hospitality and cultural sectors. Focus Sectors:EntertainmentTravel and TourismUtilitiesHospitalityTransportation Qiddiya Project Driven by Qiddiya Investment Company, Qiddiya is expected to be Saudi Arabia’s capital of Entertainment, Sports, and Arts. This project aims to give back to Saudi, its youth. The... --- > This blog will help you understand Economic Cities in Saudi Arabia, and how it is accelerating the economic growth of this Arab Kingdom. - Published: 2024-04-29 - Modified: 2024-04-30 - URL: https://analytix.sa/economic-cities-in-saudi-arabia/ - Categories: Articles Have you heard of the Economic Cities of Saudi Arabia? Ever wondered how they are different from other cities of the country? Don’t worry! Reading this blog will help you gain a clear understanding of the Saudi Arabia Economic Cities, and how it is accelerating the economic growth of this Arab Kingdom. So let's dive into the topic. Economic Cities in Saudi Arabia (ECs) Economic Cities of Saudi Arabia are special areas within the country that are developed, funded and operated by the private sector under government guidance and oversight. They are strategic projects of the government of Saudi Arabia to boost its economic diversification and achieve Saudi Vision 2030 goals at a greater pace. Each city has their own focus sectors and works to achieve the same. They are the main business hubs in the country expected to contribute immensely for the economic development of the country. Initially the kingdom announced 6 Economic Cities, later focus was shifted to 4 Economic Cities in Medina, Hail, Jazan and Rabigh. The major aims of these Economic Cities are to attract global investors, diversify the Saudi economy, create new job opportunities, provide a favourable environment for the business setup in Saudi Arabia, development of the country, etc. Benefits of Saudi Arabia Economic Cities Economic Cities come with a lot of benefits and advantages for both investors and nationals alike. Below we list a few benefits of Economic Cities of Saudi Arabia, explore the same to gain a clear understanding on the same. Full integration of government servicesEasy access to top foreign talentUnparalleled network of logistics Exceptional living standardPlanning and synergy at Sector levelWell-planned citiesHigh - class infrastructureEnhanced lifestylePrivate sector owns the Saudi Arabia’s Economic Cities Favourable and dedicated judicial ecosystemNational & international networkTop class residential and lifestyle What is the main purpose of the Economic Cities of Saudi Arabia? Curious to know the main purposes of Saudi Arabia Economic Cities? Here are the few purposes of the Economic Cities of Saudi Arabia. Attract value-added investment from global investorsDiversify the economy of the nationImprove public services of the country and elevate the quality of lifeBoost innovation & entrepreneurshipDevelopment of strategic sectorsPromotion of new business concepts, models, and practices How many Economic Cities are there in Saudi Arabia? There are a total of 4 Economic cities in Saudi Arabia. Though initially there were 6 Economic Cities, later it was cut short to 4. Below are the 4 Economic Cities in Saudi Arabia, let's go in detail to each of the cities and explore the same! King Abdullah Economic City in Rabigh (KAEC) Located north of Jeddah, King Abdullah Economic City in Rabigh (KAEC) Saudi Arabia is a world class logistics and manufacturing hub and is open to businesses across the globe. The important aim of this city is to develop logistics, automotive, fast-moving consumer goods (FMCG), pharmaceuticals, plastic, and building materials. The major components of KAEC include a modern seaport, a financial island, education zone, an industrial district, residential area, resorts, etc. Prince Abdulaziz... --- > Hearing Saudi Vision 2030 for a long time, but don't know what it is? Then this blog is for you - Published: 2024-04-27 - Modified: 2024-04-30 - URL: https://analytix.sa/saudi-vision-2030/ - Categories: Articles Hearing Saudi Vision 2030 for a long time, but don't know what it is? Then this blog is for you. It is the ambitious plan of Saudi Arabia to transform its economy from oil dependence to a diversified economy with a focus on innovation and sustainable development. Curious to know more? So let's get started! What is Saudi Vision 2030? Saudi Vision 2030 is a dream project of Saudi Arabia to diversify its economic activities and become a leading economy in the world. Launched in 2016, Vision 2030 Saudi Arabia, aims to attract foreign investment, reduce the country's dependence on oil revenues, facilitate growth across various sectors like entertainment, logistics, tourism, etc. Under the guidance and leadership of HRH Prince Mohammad Bin Salman Al Saud, Saudi Arabia is making efforts to achieve the goals of Vision 2030 by diversifying its economic activities. Below we list few aims and goals of the Saudi Arabia 2030 vision, that the country is aiming to achieve by 2030 and start its journey as a new economic power. Achieve $38B+ Non-oil government revenues by 2030Increase private sector's contribution from 40% to 65%Increase growth rate of digital payments by 70% by 2030Boost Digital Economy’s Contribution to GDP 19. 2% by 2025By 2030 boost $1. 86T+ Public Investment Fund's assets Achieve $935B Banking assets by 2030Hit Non-oil government revenues of $38B+ by 2030Attract 150M Projected number of tourists by 2030Investment of $1T in tourismIncrease FDI Contribution to GDP from 3. 8% to 5. 7%Achieve Foreign Direct Investment of $25B by 2025Achieve Non-oil GDP contribution $319B by 2025 What is the Main Aim of Saudi Vision 2030? KSA Vision 2030 aims to empower its economy, businesses, citizens and investment and become a global power by 2030. Below are the Vision 2030 goals Saudi Arabia aims to achieve by 2030 and strengthen its economy as a major player in the global GDP A Vibrant Society Saudi Vision 2030 aims to build a society that can follow its passion and works to offer a healthy life to its residents. A population that is deeply rooted in its values, cultural traditions and patriotism. It aims to transform its residents to modern culture and enrich oneself by doing effective social services. A Thriving Economy The main aim of the Saudi Vision 2030 is to diversify its economy so that every citizen and institution has the opportunity to succeed and achieve greater heights. Vision 2030 economy provides a supportive ground for the expansion and diversification of businesses of all sizes and attracts investors to invest in education thus boosting the job opportunities in the future and creating a prosperous nation for its residents. An Ambitious Nation An ambitious nation and efficient government that is transparent, and empowering, highly performing and accountable at all levels are one of the major goals of Saudi Vision 2030 Vision 2030: Economic Development In Saudi Arabia Recent data from General Authority from Statistics (GASTAT) provides crucial and notable economic trends in Saudi Arabia as listed below: GDP Growth:... --- > Saudi Arabia has become a sustainable tourism and hospitality leader in the Middle East and North Africa (MENA) region. - Published: 2024-04-27 - Modified: 2024-05-01 - URL: https://analytix.sa/saudi-arabia-focuses-on-sustainable-tourism/ - Categories: Daily News Saudi Arabia has become a sustainable tourism and hospitality leader in the Middle East and North Africa (MENA) region. It is positioning itself as a trendsetter in developing sustainable tourism initiatives at a global level and designing new-age hospitality experiences that are aligned with carbon-emission goals. The Kingdom is promoting a variety of projects across the country involved in sustainable hospitality as well as eco-friendly programs that incorporate the environmental goals part of Saudi’s Vision 2030. From the Red Sea coast to Al Ahsa Oasis, new cutting-edge sustainability projects are emerging to cut emissions, preserve natural habitats, create local job opportunities, and much more. These include flagship projects from Red Sea Global and NEOM, highlighting Saudi’s commitment to become a leading force in luxury sustainable tourism. Foreign investment from leading companies in the hospitality industry such as the Four Seasons luxury wellness resort in Amaala and ENVI Laguna Bay in King Abdullah Economic City (KAEC) are introducing innovative approaches to minimize impact on the environment. This includes initiatives like carbon offsetting, waste management, and community engagement to reflect the UN Sustainable Development Goals for 2030. Saudi Arabia has combined both private and public investment to drive the Kingdom towards ambitious sustainable development projects. In addition to this, Saudi’s launching of the Sustainable Hospitality Challenge and the Dan Company for agritourism and ecotourism projects provides a 360-degree perspective on the Kingdom's sustainable tourism goals. Through this initiative, Saudi Arabia is not only changing its tourism industry but also making a new global standard for a responsible hospitality sector. It is doing so by promoting local materials to embracing renewable energies like solar power. Saudi Arabia is certainly emerging as a global leader in cultivating more responsible and sustainable tourism practices. --- > This blog is a comprehensive answer to all your doubts regarding investing in Saudi Arabia in 2024. - Published: 2024-04-26 - Modified: 2024-10-04 - URL: https://analytix.sa/investing-in-saudi-arabia/ - Categories: Articles Planning to make an investment in Saudi Arabia? But confused whether investing in Saudi Arabia is worth a try? Don’t worry! This blog is a comprehensive answer to all your doubts regarding investing in Saudi Arabia in 2024. So let's get started! Why Invest In Saudi Arabia? Saudi Arabia, being one of the strategic GCC countries, is a promising destination to make huge investments. Recent business reforms offer more investment opportunities for foreigners, providing international investors with the same rights and liberty as that of locals. Vision 2030 is Saudi Arabia’s ambitious plan to transform its economy to a global one by reducing dependency on oil revenues and creating more opportunities for foreign investments and job opportunities. Considering recent diversification efforts and business reforms, Saudi Arabia offers a plethora of investment opportunities to start and flourish business setup in Saudi Arabia. Where to Invest Money in Saudi Arabia? Since you have made up your mind to invest in Saudi Arabia, it is very important to have a clear understanding of investment opportunities in Saudi Arabia and choose one wisely. Dammam, Riyadh, and Jeddah being key locations in Saudi Arabia are great options to consider when one plans to invest in Saudi Arabia. Dammam Dammam being the capital city of the Eastern province of Saudi Arabia offers great investment opportunities. It is a hub for both SMEs and MNCs alike and provides a favorable environment for investing in Saudi Arabia for both foreigners and locals. Business setup in Dammam would be a wise decision considering its strategic location and investor-friendly policies. Riyadh The capital city offers a conducive environment for business setup and is a great option to invest in Saudi Arabia. Its robust economy and skilled workforce make it a perfect destination for both internationals and natives to make investments. Greater living standards and investor friendly policies make it a hub for foreign investments. Being in the capital city, setting up a business setup in Riyadh would be more beneficial compared to other regions of the country. Jeddah Located near to the holy city of Mecca, Jeddah is a land of opportunities. Its strategic location near the sea connects it to the global market. Favorable economy and its geographical location make it an ideal choice for investment. As Jeddah is an entry point to the Saudi market, it is a perfect location for one to setup a business in Jeddah. How to Invest in Saudi Arabia? Saudi Arabia provides lucrative options for investment. A thorough understanding of the investment process in Saudi Arabia is essential to make wise decisions and to get started. No matter you want to make a small investment in Saudi Arabia, a deep understanding of the regulatory frameworks, cultural sensitivities,and market dynamics is essential before you make an investment in Saudi Arabia. Types Of Businesses Eligible to Apply For An Investor License in Saudi Arabia Confused whether your business idea will get an investor license in Saudi Arabia? Don’t worry, below is a list of types... --- > In a recent development, the World Bank and Saudi’s National Competitiveness Center (NCC) will join forces to establish a knowledge hub in Saudi Arabia. - Published: 2024-04-25 - Modified: 2024-04-27 - URL: https://analytix.sa/world-bank-and-saudi-arabia-partner-on-knowledge-hub-for-economic-reform/ - Categories: Daily News In a recent development, the World Bank and Saudi’s National Competitiveness Center (NCC) will join forces to establish a knowledge hub in Saudi Arabia. The initiative focuses on advancing economic reforms across the globe and helping economies improve their competitiveness for conducting trade and business. Saudi Arabia has greatly improved its economic competitiveness and ease of doing business over the past years, aligning itself with the ambitious goals set as part of Saudi Vision 2030. This partnership highlights Saudi Arabia’s progress in improving free trade and private sector development inside its borders. The new knowledge hub aims to be a central platform for nations across the globe to collaborate on sharing best practices for economic competitiveness. It will also help countries to streamline their business landscape with the World Bank’s expertise. It seeks to foster a spirit of collaboration and partnership among countries to improve their potential for trade and economic growth. The National Competitiveness Center (NCC) has played a major role since its inception in 2019 to improve Saudi Arabia’s global competitiveness by streamlining business operations and integrating over 800 reforms. The new knowledge hub will further develop the NCC’s initiatives to involve collaboration among various Saudi ministries and agencies and align them to speed national economic growth. The Saudi Minister of Commerce and Chairman of the NCC, Dr. Majid Al Qasabi, was present during the announcement of the initiative in Washington DC. He was seen engaging in extensive discussions with World Bank officials, and both parties explored further initiatives to simplify The collaboration extends beyond the knowledge hub. Discussions between Saudi and World Bank officials aim to further simplify trade procedures and improve the overall business landscape in Saudi Arabia. This commitment to economic reform positions both parties as leaders in advancing global competitiveness. --- - Published: 2024-04-20 - Modified: 2024-04-27 - URL: https://analytix.sa/saudi-arabia-highlights-investment-initiatives-in-tourism-at-international-hospitality-investment-forum/ - Categories: Daily News The Saudi Ministry of Tourism is playing a pivotal role at the International Hospitality Investment Forum (IHIF), presenting an interesting prospect for global investors to explore the dynamic tourism landscape of the Kingdom. Tourism Investment Enablers Program (TIEP), central to this engagement reflects Saudi Arabia's commitment to achieving its Vision 2030 aspiration of becoming a premier global tourism destination for both investors and visitors. This participation coincides with a remarkable achievement in Saudi Arabia's tourism sector, surpassing 100 million visitors in 2023, seven years ahead of schedule. This milestone underscores significant progress towards economic diversification and the sector's growing contribution to the national GDP. TIEP is the flagship Hospitality Investment Enablers (HIE) aimed at capitalizing on this momentum by investing up to SAR 42 billion into the hospitality sector across key destinations, expected to generate 120,000 new jobs by 2030. The IHIF audience is gaining insight into Saudi Arabia's ambitious plans to substantially expand its accommodation capacity. The Kingdom aims to increase hotel rooms to over 500,000 and target 150 million annual visitors by 2030. The HIE is designed to boost the hospitality sector by introducing a new wave of supply in strategic tourism hubs, enriching the Kingdom's diverse tourism sector. This initiative is underpinned by a group of strategic enablers, including access to government-owned land under favorable terms, streamlined project development processes, and regulatory adjustments aimed at reducing market entry barriers and operational costs. This approach is poised to drive significant socio-economic transformation within the Kingdom, with private sector investments projected to reach SAR 42. 3 billion and an anticipated annual GDP increase of SAR 16. 4 billion by 2030. Saudi Arabia's active engagement in IHIF aims to position the Kingdom as an attractive investment destination for international investors, highlighting the interesting opportunities within the tourism and hospitality sectors. This global platform serves as an ideal avenue for the Ministry of Tourism to cultivate long-lasting partnerships and underscore the Kingdom's dedication to enhancing tourism industry standards, fostering sustainable growth, and providing robust support to investors. Through this participation, the Saudi Ministry of Tourism is not only showcasing investment prospects but also extending an invitation to the world to join Saudi Arabia's ambitious journey in redefining global tourism norms. Investors are encouraged to seize this opportunity to collaborate with the Kingdom as it charts a course towards a new era of tourism excellence aligned with the transformative objectives of Vision 2030. --- > This blog to help you gain idea of the investment license issued by the Ministry of Investment of Saudi Arabia (MISA) in Saudi Arabia. - Published: 2024-04-20 - Modified: 2024-05-23 - URL: https://analytix.sa/ministry-of-investment-misa-license-saudi-arabia/ - Categories: Articles We have written this blog to help you gain a complete idea of the investment license issued by the Ministry of Investment of Saudi Arabia (MISA) in the Kingdom of Saudi Arabia. Analytix has over 15 years of experience helping investors start their business in Saudi. We will be sharing our expertise in the Saudi landscape and the importance of a MISA license in Saudi Arabia. What is a MISA License? A MISA license is issued by the Ministry of Investment of Saudi Arabia (MISA) to foreign investors who want to pursue an investment opportunity in the kingdom. It is a mandatory license for foreign businesses to establish their presence in Saudi Arabia and conduct business operations. Importance of a Misa Saudi License Obtaining a MISA license is one of the first steps for those looking for foreign investment in Saudi Arabia. The license allows you to invest legally in the kingdom and it is required to complete the registration of your business as well as other compliance procedures. The Ministry of Investment (MISA) plays a major role in developing the role of foreign investment in Saudi Arabia. It looks to promote and safeguard foreign investment in the kingdom and assists with procuring adequate licenses, business setup, and streamlining your investment. The MISA license ensures that your investments in Saudi Arabia are legal and recognized by the government authorities. It ensures that your investments are safe and legally protected in Saudi. Difference between SAGIA License and MISA License Are you confused between the terms ‘SAGIA license’ and ‘MISA license’? These two terms are closely related, and we will explain to you the subtle difference between the two. Both SAGIA and MISA refer to the same entity. The Saudi Arabian General Investment Authority (SAGIA) was turned into a government ministry in 2020 and has since been functioning as the Ministry of Investment of Saudi Arabia (MISA). The table given below points out the major features of both to help you understand their roles better:FeatureSAGIAMISAFunctionFormer government entity that oversaw foreign investment in Saudi Arabia Government ministry that currently oversees foreign investment in Saudi ArabiaEstablished20002020 (as a ministry; it previously functioned as SAGIA)RoleIssue foreign investment licenses, facilitate company registrationIssue foreign investment licenses, facilitate company registration, promote & regulate foreign direct investmentCurrent StatusRestructured into MISAOperates as the Ministry of Investment Types of Legal Entities in Saudi Arabia We have listed below the different types of business entities that are legally valid in Saudi Arabia. As a foreign investor, you will need to create a business that falls under one of these structures:Limited Liability Company (LLC)Limited Liability One-Person CompanyJoint Stock CompanySolidarity Professional CompanyForeign Company Branch Steps to Get a MISA License in Saudi Arabia We will help you understand the steps that are required to be taken by an investor to procure their MISA license and begin company registration. Step 1: Company Structure This is the first and crucial step to getting your business license in Saudi Arabia. You need to choose the type of... --- > This blog will discuss the types, requirements, costs, and significance of iqama or Saudi residence permit. - Published: 2024-04-19 - Modified: 2025-05-15 - URL: https://analytix.sa/saudi-residence-permit-iqama/ - Categories: Articles This blog will help you gain a better understanding of the Saudi Arabia iqama. An iqama refers to a residence permit issued by the government of Saudi Arabia. We will discuss the types, requirements, costs, and significance of procuring an iqama in Saudi Arabia. What is Iqama in Saudi Arabia? Iqamas refer to residence permits issued by the Saudi government to foreign expatriates employed in the kingdom. An iqama is an official proof of identification for expatriates and gives them access to essential services and rights. Do You Need an Iqama to Start a Business in Saudi Arabia? An iqama is a crucial document that is required for foreign investors looking to establish a business in Saudi Arabia. Acquiring a ‘Business Iqama’ becomes the primary step for individuals who are looking to navigate the journey of doing business in Saudi Arabia. Types of Iqama in Saudi Arabia The following types of iqamas are issued by the Saudi government based on the purpose of your stay in the kingdom:Professional Class Iqama - for those holding professional degreesDependents Iqama - for family members of expatriatesGovernment Employees Iqama - for foreigners employed by the Saudi governmentBusiness Iqama - for businessmen and investorsSpecial Privileged Iqama - premium residency iqamaDomestic Worker Iqama - for those employed as household helpLabor Class Iqama - for manual job workers Saudi Iqama Requirements The following requirements have to be met by expatriates and their sponsoring employees to apply for a Saudi iqama:a valid employment contract a clean medical certificate attesting to good health health insurance an active work permit. How to get Saudi Iqama? We have outlined in detail the roadmap for getting an iqama in Saudi Arabia. The following steps will give you a clear understanding of the process of procuring a Saudi iqama: 1. Apply for a Block Visa: The first step in the Iqama application process should be taken by your Saudi employer (be it an individual, entity, or company) who sponsors your work permit and iqama application. Your employer will request a block visa from the Saudi Ministry of Labor and Social Development (MLSD), which will reserve a visa slot for your specific position. 2. Obtain Visa Authorization and Power of Attorney: Following the block visa approval, your employer will need to approach the Ministry of Foreign Affairs for a visa authorization number and power of attorney. These documents enable them to act on your behalf during the visa application process. 3. Apply for a Work Permit: Once the visa authorization is completed, your employer can apply for a work permit on your behalf. The application will be reviewed by the Ministry of Labor to ensure that you are qualified for the job position. 4. Entry to Saudi Arabia: You are eligible to enter Saudi Arabia once the work permit is approved by the Ministry and you can start working at your job. 5. Iqama Application: Within 90 days of your arrival in Saudi Arabia, your employer will initiate the application process for your Saudi... --- > Understanding foreign investment law in Saudi Arabia can be a complex task. This blog will offer you insights into Saudi foreign investment law. - Published: 2024-04-12 - Modified: 2024-07-03 - URL: https://analytix.sa/foreign-investment-law-in-saudi-arabia/ - Categories: Articles Understanding the legal realm of Foreign Investment Law in Saudi Arabia can be a complex task. Well, this is why we, 'Analytix', with more than a decade of experience in Saudi Arabia’s business landscape, have come up with the breakdown of what you need to know. This blog will offer you a comprehensive insight into the most important aspects of Saudi foreign investment law. What is the Foreign Investment Policy of Saudi Arabia? The Foreign Investment Law of Saudi Arabia reflects a proactive approach of the kingdom towards economic diversification and global integration. This includes several policies to improve the legal landscape of foreign investment in the country through the enforcement of regulatory measures and streamlined processes for promoting strategic growth and offering a range of investment opportunities in Saudi Arabia. The Foreign Investment law in Saudi Arabia has undergone a significant transformation over the years. It has drawn the attention of the worldwide business community to the kingdom. Saudi Arabia has created a fertile ground for foreign investment by strategically diversifying the economy. The enactment of the Foreign Investment Law in Saudi Arabia alongside various accompanying regulations serves as a symbol of the ever-evolving business landscape of the Kingdom. Under the framework of Foreign Investment Law in Saudi Arabia, foreign investors are required to obtain an investment license from the MISA (Ministry of Investment Saudi Arabia) with another specific type of license contingent upon the nature of the business venture. The process of application has now been digitized which enables the investors to complete the process of application online through the Ministry’s website. This digital transformation has helped to increase the flow of investments across a spectrum of business sectors including but not limited to construction, wholesale and retail, manufacturing, hospitality, and technology. Furthermore, the kingdom is committed to the prevention of unlawful practices in its investment sphere. Legislations such as the Anti-Concealment Law which came into effect in 2004 aim to combat illicit activities through commercial concealment arrangements. The proposed reforms under the policy seek to refine the legal framework surrounding the Foreign Investment Law in Saudi Arabia geared towards fostering fairness and impartiality between local and foreign investors. Saudi Arabia is broadening its horizons and pivoting towards becoming the global business hub, opening up limitless opportunities for foreign investors and businesses. Key Features of the Foreign Investment Law in Saudi Arabia 1. Overview The ‘CEFI’, ministerial committee established by the Council of Ministers oversees all foreign investments to ensure that they all align with the national security interests and public policy objectives of Saudi Arabia. It evaluates the direct and indirect impacts of foreign investments, considering important factors such as economic development, job creation, technological growth, and sustainability. The ‘CEFI’ issues certain policies, guidelines, and penalties to regulate foreign investments to maintain a fine balance between attracting foreign capital and safeguarding national security. 2. Laws and Regulations MISA (Ministry of Investment Saudi Arabia) provides a legal framework for foreign investors to operate in the kingdom. Various laws... --- > In this blog, we will share our expert insights on the top 10 best and most promising business ideas to start in Saudi Arabia by 2030. - Published: 2024-04-04 - Modified: 2025-07-14 - URL: https://analytix.sa/business-ideas-in-saudi-arabia/ - Categories: Articles Looking to start a business in Saudi Arabia? With over a decade of expertise in Saudi Arabian Business and KSA Business Trends, Analytix is here to share our expert insights on the top 10 best and most promising business ideas to start in Saudi Arabia by 2030 to help you make informed decisions for the success of your business journey in the Kingdom. Best Business to Do in Saudi Arabia in 2025 Now, let us take a look at the top 10 best business options to kick-start your business journey in Saudi Arabia. Food And Beverage Business In Saudi ArabiaGaming And Esports Business In Saudi ArabiaTravel And Tourism Business In Saudi ArabiaHealthcare Business In Saudi ArabiaSports Business In Saudi ArabiaConstruction Business In Saudi ArabiaICT Business In Saudi ArabiaEducation Business In Saudi ArabiaConsumer And Luxury Goods Business In Saudi ArabiaSolar Energy Business In Saudi Arabia 1. Food and Beverage Business in Saudi Arabia Saudi Arabia’s food and beverage sector is one of the best business opportunities in the kingdom, valued at around $23. 5 billion in 2024 and expected to reach approximately $27. 8–$29. 8 billion by 2029–2032, with a CAGR of about 3. 4%. One of the main reasons for the business growth is the flourishing food and dairy industry with rising consumer demand for products like milk and dairy substitutes due to health awareness and fitness trends. 2. Gaming and Esports Business in Saudi Arabia The games and esports market in Saudi Arabia was valued at $1. 8 billion in 2024 and is expected to rise to $6. 8 billion by 2030, backed by a $38 billion government investment. Saudi Arabia with Qiddiya City is ready to host the first Esports World Cup in Riyadh in the summer of 2024 with top games including StarCraft II, Dota 2, and Counter-Strike 2. 3. Travel and Tourism business in Saudi Arabia Saudi Arabia hosted a historic 116 million tourists in 2024, including 30 million international visitors and 86. 2 million domestic trips, with tourism spending reaching SAR 284 billion ($75. 7 billion). The kingdom’s goal now is to welcome 150 million visitors annually by 2030, with 70 million international and 80 million domestic tourists. The tourism sector will contribute 10% of the nation’s GDP. Saudi is introducing E-Visas for citizens of 49 countries along with major tourism projects like Neom, Red Sea, and Qiddiya under construction. The tourism industry of Saudi Arabia is growing with new infrastructure, destinations, and luxury travel experiences. 4. Healthcare Business in Saudi Arabia Saudi Arabia’s healthcare sector is experiencing a significant shift due to Vision 2030, which includes a $65 billion initiative to upgrade infrastructure, enhance e-health services, and privatize more than 290 hospitals and 2,300 primary health centers. The government is setting up 21 health clusters and investing $1. 5 billion in digital health, including telemedicine and AI-based diagnostics. Private sector participation is expected to increase from 25% to 35% by 2030, offering major opportunities for both local and global investors. In 2024, the government... --- > This blog is designed to give you detailed information regarding Saudization and ‘Nitaqat Program’ in saudi arabia - Published: 2024-04-03 - Modified: 2024-05-06 - URL: https://analytix.sa/saudization-nitaqat/ - Categories: Articles Any person or business looking to conduct business activities in Saudi Arabia needs an in-depth understanding of Saudization or the ‘Nitaqat Program’. This blog is designed to give you detailed information regarding this aspect. We will be discussing here what Saudization is, its importance, benefits, and requirements. What is Saudization/Nitaqat? Saudization refers to the Saudi Nationalisation Program, also known as Nitaqat. It makes it compulsory for businesses to reserve a fixed portion of jobs in the private sector for Saudi nationals. It was brought in to solve the employment challenges faced by Saudi nationals in the kingdom and improve their inclusion ratio in private sector jobs. The ratio of Saudization depends on the company size, the industry it operates in, and the business type. Saudi Arabia has been growing substantially in recent years with both government and foreign investment flowing into the kingdom’s mega and giga projects. The Saudi Vision 2030 has pitched an ambitious economic diversification plan, with a significant role for the private sector to play. In this scenario, Saudization helps to ensure that Saudi nationals also benefit equally from the rise in private sector jobs and investment. Saudization policy was first introduced in 1985 when Saudi Arabia was gaining wealth from oil exports and began to draw in foreign investment. It attracted expatriates from across the world for work and many set up their businesses. The Saudi government implemented Saudization to ensure that Saudi nationals had access to these upcoming jobs and opportunities. Why Is Saudization Important? Saudization plays a major role in ensuring that Saudi nationals are not excluded from private-sector employment in their own country. It is a landmark scheme that tries to distribute the benefits of private sector growth such as a skilled workforce, higher incomes, and better opportunities with the local population. The Nitaqat Program also aims to solve a significant problem that the Saudi government has been facing. Traditionally, a high percentage of Saudi nationals were employed in the public sector. However, the government has not been able to absorb the increasing population into its workforce. The private sector must take in the increasing share of Saudi nationals seeking employment. It is in line with the Saudi government’s push to diversify the economy from oil and create a thriving private sector to drive the economy forward. What are the Benefits of Saudization? Saudization has played a big role in enhancing Saudi nationals' career opportunities, training, skill development, and professional growth. Let’s briefly discuss here the various benefits associated with Saudization:1. Reduces UnemploymentThe Nitaqat Program plays a significant role in keeping Saudi unemployment in check. With the labor force growing every year, the Saudization policy ensures that the expanding private sector continues to absorb Saudi workers and keep the unemployment rate as low as possible. 2. Development of Skilled WorkforceThe inclusion of the local workforce into the private sector plays a prominent role in the development of a skilled Saudi workforce. They gain exposure to the latest best practices, trends, technologies, and upskilling... --- > The withholding tax (WTH) in Saudi Arabia is a type of income tax levied on non-residents who generate income from a Saudi source. - Published: 2024-03-25 - Modified: 2024-04-23 - URL: https://analytix.sa/withholding-tax-in-saudi-arabia/ - Categories: Articles This blog aims to be a reliable and comprehensive source of information regarding withholding tax (WHT) in Saudi Arabia. We will help you to understand the fundamentals of KSA withholding tax, while also providing detailed information regarding tax rates, penalties, and compliance procedures among others. Analytix has years of experience providing expert tax advisory and company setup services in Saudi Arabia. What is the Withholding Tax in Saudi Arabia? The Saudi withholding tax is a type of income tax levied on non-residents who generate income from a Saudi source. The person or establishment which makes the payment to the non-resident is known as the withholding person. The Implementing Regulations of the Income Tax Law (ITL) states that withholding tax in Saudi Arabia will be charged on the total amount paid to the non-resident entity by the withholding person. Who Pays Withholding Tax in Saudi Arabia? Withholding tax in KSA is charged on payments made from a Saudi resident or private establishment in Saudi Arabia to a non-resident party for the rendering of services. The tax is paid by the beneficiaries of the payment, which may include business entities and persons providing technical or management services and collects rent, interest, dividends, or royalties. How Can Analytix Assist You With Withholding Tax in KSA? Our experienced tax consultants can help you systematically process all paperwork and compliance procedures regarding the filing of withholding tax in Saudi. Having an expert like Analytix by your side helps to make the entire process cost-effective and worry-free. Talk to an Expert Types of Payments Subject to Withholding Tax Withholding tax in Saudi applies to all non-resident entities whose source of income originates from Saudi Arabia. The KSA withholding tax needs to be paid regardless of whether the income comes from governmental or non-governmental enterprises. The following types of payments in KSA are subject to withholding tax in KSA: DividendsManagement or directors’ feesServices performed in whole or in part in Saudi ArabiaPayment from business activities carried out in the KSARental income that includes:i) Lease of immovable propertyii) Lease of moveable properties located in the KSAIncome from debt claims falls within the WHT scopeLicensing of industrial or intellectual properties in the KSA (royalty)Interest from LoansInsurance/reinsurance premiumsTechnical or consulting services, even when they are entirely performed abroad What are the Withholding Tax Rates in Saudi Arabia? Unless the Withholding Tax in KSA is reduced by a tax treaty, the following rates apply for withholding tax in Saudi Arabia as stipulated under Article 63 of the Income Tax Law (ITL): What are the Withholding Tax Obligations You Should Keep in Mind? Saudi Arabia has to mandatorily file their withholding tax returns every month. It is necessary to pay your withholding tax before the deadline to avoid penalties. Analytix can help you with WHT filing, as well as provide strategic advice and support. When Are The Withholding Tax Deadlines? The withholding tax in Saudi Arabia needs to be paid by the withholding person during the first ten days of the month... --- > In this blog, we will explore the various aspects of starting a general partnership in Saudi Arabia. - Published: 2024-03-09 - Modified: 2024-04-25 - URL: https://analytix.sa/set-up-your-general-partnership-in-saudi-arabia/ - Categories: Articles In this blog, we will explore the various aspects of starting a general partnership in Saudi Arabia. It will include basic information such as what is a general partnership in Saudi, its benefits, and requirements as well as a detailed guide to the setup process. What is a General Partnership in Saudi Arabia? A General Partnership in Saudi Arabia is a type of business entity where two or more natural or legal persons come together to operate the business, with joint sharing of profits, losses, and liabilities. Benefits of setting up a General Partnership in Saudi Arabia 1. Sharing of Responsibilities: A general partnership offers investors the chance to share workload and responsibilities compared to a sole proprietorship. 2. Combined Resources: A partnership allows investors to pool their resources and build their capital instead of relying on outside capital. 3. Flexible Management: It is possible to customize the management structure and profit-sharing agreements according to the partners’ needs. 4. Easy Setup Process: Setting up a general partnership is relatively easier compared to a limited liability company (LLC) with fewer regulatory requirements and paperwork. How Can Analytix Help You Set Up a General Partnership in KSA? At Analytix, we are the experts in general partnership setup in Saudi Arabia. Our team of experienced experts will walk you through the registration process and be available at every stage, helping you with drafting partner agreements and completing all regulatory requirements. Analytix has experience in incorporating 1400+ businesses in Saudi. Talk to an Expert Documents Required for Setting Up a General Partnership in Saudi In this section, we'll outline the essential documents needed to establish a general partnership in Saudi Arabia. Having these documents in order is crucial for a smooth and efficient setup process. Secure the initial investor license from the Ministry of Investment in Saudi Arabia (MISA), formerly known as the Saudi Arabian General Investment Authority (SAGIA). Reserve the company name according to the Commercial Companies Law. Draft the partnership agreement and company Bylaws. Obtain commercial registration from the Ministry of Commerce and Industry (MOCI). Obtain any necessary third-party regulatory approvals, if applicable. Register with the Chamber of Commerce, Zakat, Tax, and Customs Authority (ZATCA), among others. Open a company bank account. Ensure ongoing compliance and reporting as required by Saudi Arabian regulations. Requirements for Starting a General Partnership in KSA According to Article 36 of the Commercial Companies Law of Saudi Arabia, the inclusion of the following information is required when setting up a general partnership company: Partners’ names and other details. Company’s name. Company’s headquarters. Company’s purpose. Company’s capital and its distribution among partners, together with sufficient details on the contribution guaranteed by each partner and its due date. Company’s term, if any. Company’s management. Issuance of partner decisions and the quorum required for their issuance. Distribution of profits and losses among partners. Dates on which the company’s fiscal year commences and ends. Termination of the company. Any other terms, conditions, or information the partners agree to include in the... --- - Published: 2024-03-08 - Modified: 2024-04-25 - URL: https://analytix.sa/foreign-company-branch-in-saudi-arabia/ - Categories: Articles This blog is aimed at being your ultimate guide for establishing a foreign company branch in Saudi Arabia. Analytix has years of experience establishing branch offices in KSA and helping investors efficiently manage all critical aspects of the process. You will find answers here to all your questions regarding opening a branch office in KSA. What is a Branch Office? A branch office is a subsidiary of the parent company, providing a swift and cost-effective means for foreign business owners to establish a presence in Saudi Arabia. Branch offices can carry out the functions and operations of the parent company but are restricted from participating in trading activities. Benefits of Setting Up a Branch Office in Saudi Arabia A branch office in Saudi Arabia can offer your company a set of important benefits letting you explore business opportunities in Saudi’s thriving market:100% Foreign OwnershipA Saudi branch office allows the foreign company to keep complete control and ownership rights. Convenient Setup ProcessThe incorporation process for a branch office is much simpler than setting up other types of business entities. No Need for Local SponsorForeign companies do not require support from a local sponsor when setting up a branch office in KSA. Business GrowthA branch office is a cost-effective and systematic way to develop your business in KSA and increase brand visibility. Gain Expertise in the Saudi MarketOpening a branch office in Saudi gives you strategic insights into the Saudi market while developing a local presence. Talk to an Expert What to Consider When Opening a Branch in Saudi Arabia? Foreign companies opening a branch office in Saudi Arabia need to consider the following aspects carefully:A branch office is not an independent legal entity but an extension of the main company. The branch office must have a registered address in a Saudi city, allowing it to access financial benefits. A branch office can be involved only in the same activities as the parent company. Foreign entities have the option to establish more than one branch in Saudi Arabia. How can an Expert Help You to Set Up a Branch Office in KSA? The process of establishing a branch office in Saudi Arabia can be made simpler and more efficient by using the services of a local expert, like Analytix. Our experienced team can assist you in critical aspects such as regulatory compliance, managing cultural norms, and planning competently. Our systematic approach removes complexity and provides you with all the necessary support. Requirements to start a branch office in Saudi Arabia The following requirements have to be met when opening a branch office of your foreign company in Saudi Arabia. These include laws regarding minimum share capital, iqama requirements, and more. Minimum Capital InvestmentA foreign company’s branch is mandated to deposit a minimum capital of SAR 500,000. The minimum capital may increase depending on the business activity. Foreign LicenseThe foreign entity has to obtain a business license from the Ministry of Investment (MISA). Commercial Registration The branch office will secure its Commercial Registration... --- > In this blog, we will talk about the organizational structure, benefits, as well as requirements for starting a joint stock company in Saudi Arabia (KSA) - Published: 2024-03-08 - Modified: 2024-04-25 - URL: https://analytix.sa/joint-stock-company-in-saudi-arabia/ - Categories: Articles This blog post discusses in detail the process of setting up a joint stock company in Saudi Arabia. We will talk about the organizational structure, benefits, as well as requirements for starting a joint stock company in KSA. Analytix has over 15 years of experience with business incorporation in Saudi Arabia, and we will try to share our insights and knowledge for opening a Saudi joint stock company. What is a Joint Stock Company? A joint stock company is an organization where ownership is divided into shares, permitting individuals to have part-ownership in the company and enjoy dividends as well as losses proportionately. Benefits of setting up a JSC in Saudi Arabia The following points highlight the unique advantages of establishing a Joint Stock Company (JSC) in Saudi Arabia:Large financial resourcesA joint stock company can raise capital by issuing shares and debentures to the general public. Since the company can have any number of shareholders, it is easier to increase capital. Limited liabilityIn case the company experiences losses and is shut down, the shareholders of the company will be liable for the losses only up to the amount of capital they have invested in the company. Scope for growth and expansionA joint stock company can use its large financial resources to operate on a large scale, and expansion can be done by issuing new shares and debentures. Professional managementA joint stock company can use its resources to employ experts to manage its business and carry out operations effectively and efficiently. Public ConfidenceA joint stock company is a legal entity that is audited every year and whose financial statements are publicly disclosed. This helps create confidence in the public about the company’s operations. How can Analytix Help You to Set Up a Joint Stock Company in KSA? Analytix is a consulting firm that helps investors simplify the process of establishing a joint stock company (JSC) in Saudi Arabia. Our well-versed experts provide continuous hands-on support and assistance. We make the setup smooth and simplified, offering invaluable insights to fine-tune your JSC setup in Saudi. Talk to an Expert Documents Required for Setting Up a Joint Stock Company in Saudi Here, we will discuss the document requirements for starting a Joint Stock Company (JSC) in Saudi Arabia. Having a clear understanding of document requirements to make the whole process better organized. Getting a Commercial Registration from the Ministry of Commerce and Industry (MOCI)Obtaining an investment license from MISA, the Ministry of Investment, Saudi Arabia. Drafting and having the Articles of Association (AoA) approved by MOCI and notarized. Opening a local bank account in Saudi Arabia. Mandatory registration with Wasel to get a registered local address in Saudi Arabia. Obtaining a Commercial Registration or business permit (CR) from MOCI which allows the JSC to conduct business activities in the country. Registering with the Saudi Ministry of Labor for the issuance of a local work visa. Register with the General Organization of Social Insurance (GOSI) to comply with the social insurance requirements of employees... --- > This blog will focus on the process of opening an LLC (Limited Liability Company) formation in Saudi Arabia. - Published: 2024-03-08 - Modified: 2024-04-23 - URL: https://analytix.sa/llc-company-formation-in-saudi-arabia/ - Categories: Articles This blog will focus on the process of opening an LLC (Limited Liability Company) formation in Saudi Arabia. Analytix has years of experience with limited liability company formation in Saudi Arabia. We provide here an overview of the vital factors to consider for establishing an LLC in Saudi Arabia. What is a Limited Liability Company? A limited liability company (LLC) combines the features of a partnership and corporate company allowing limited liability and also simple management structure. LLCs are the most common type of business structure in Saudi Arabia due to the ease of setting up while providing 100% foreign ownership. Benefits of setting up an LLC in Saudi Arabia Opening a limited liability company (LLC) in Saudi Arabia offers several key benefits for foreign investors. The following are the key advantages of LLCs in Saudi Arabia, and why they are the preferred business structure for many investors:Limited Liability Protection: LLCs protect investors from business liabilities that exceed the amount of investment, reducing financial risk. Flexibility in Ownership and Management:Allows for partnerships between individuals and legal entities, foreigners, and Saudi locals or 100% ownership. Ease of Doing Business:The time and cost requirements for setting up an LLC in Saudi Arabia have been considerably reduced over the years. Access to Government Contracts:LLCs receive preferences when bidding for government contracts and participating in government projects. Tax Benefits and Incentives: The Saudi government offers attractive tax benefits and incentives for LLCs to improve their competitiveness. Attracting Foreign Investment: The flexible LLC structure which allows options for foreign ownership is a source of attraction for international investors. How can an Expert Help You to Register an LLC in Saudi Arabia in 2024? Involving an expert such as Analytix is critical for making the process of opening an LLC in Saudi Arabia smooth and efficient. We will help you with obtaining a company name from the Ministry of Commerce and Industry (MOCI), prepare the company’s Articles of Association (AoA) as well as the opening of a corporate bank account. Having an expert like Analytix by your side can make the entire process cost-effective and worry-free. Book a Free Consultation Requirements for LLC company formation in Saudi Arabia Establishing a limited liability company in Saudi is not a very complicated process. But, you must keep in mind that these fundamental conditions must be met when opening your limited liability company in Saudi Arabia. Minimum investment:The minimum investment required to establish an LLC in Saudi Arabia is SAR 500,000 (USD 130,000). For Foreigners:The minimum investment capital for foreigners opening an LLC in Saudi is SAR 100,000 (USD 26,000). LLCs in the Industrial Sector:The required capital amount is SAR 5,000,000 (USD 1,333,000) for LLCs in industrial sectors. LLCs in the Agricultural Sector:The required capital for agricultural projects is SAR 25,000,000 (USD 6,666,000). Number of shareholders:An LLC company in Saudi Arabia must have a minimum of two and a maximum of fifty shareholders. Managers:The LLC must be represented by one or more managers. Managers don’t need to be Saudi... --- ---