Saturday June 15th, 2024
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127 Firms Move Regional HQs to Saudi Arabia in Q1 2024

These figures show a leap of 466% compared to the same period in 2023.

Scene Now Saudi

127 Firms Move Regional HQs to Saudi Arabia in Q1 2024

127 international companies have relocated their regional headquarters to Saudi Arabia during the first quarter of 2024. These figures mark a 477% leap compared to the same period in 2023.

This rise can be partly attributed to efforts made by the Saudi Ministry of Investment to provide a safe and more competitive investment environment in the country. They have also been working to develop investment systems and procedures with their partners from government agencies.

Further, Saudi Arabia recently initiated new tax incentives for multinational companies to move their regional headquarters to the Kingdom. These include a 30 year exemption on corporate income tax, alongside exclusive discounts and comprehensive support services such as relocation, concierge, facilitation and professional advice.

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