For those who are looking to reduce taxes, there's a rather compelling offer from the Kingdom: Exemption from CIT, no WHT from dividends, no personal income tax.
www.reuters.com
Recent reforms have also simplified the investment process. Obtaining a foreign investor license from SAGIA now requires two documents and can be processed in three hours — reducing the requirement from twelve documents, which would take three days to process.
Its worth noting that there is social resistance to certain types of employment in Saudi Arabia. Jobs in service and sales are considered totally unacceptable for citizens of Saudi Arabia—both to potential employees and customers.
At one department store, Al Haram, of 150 employees, only 25 ... are Saudi. All the Saudis are either cashiers or managers. The store manager, Ali al Qahtani, a Saudi, insists that even if a Saudi asked to work in sales (and none has ...) he would not permit it. 'I would put him at reception or cashier,' he says, 'because Saudi society wouldn't accept a Saudi salesperson.' Indeed, a Saudi intellectual who lives in the kingdom but travels often to Europe and the United States recounts his embarrassment at being served by a Saudi waiter in a restaurant. '... I didn't know what to do, it was so embarrassing.'
Saudi Arabia offers tax breaks for companies moving regional HQs to Riyadh
Saudi Arabia said on Tuesday it will offer tax incentives for foreign companies that locate their regional headquarters in the kingdom, including a 30-year exemption for corporate income tax.
Recent reforms have also simplified the investment process. Obtaining a foreign investor license from SAGIA now requires two documents and can be processed in three hours — reducing the requirement from twelve documents, which would take three days to process.
Its worth noting that there is social resistance to certain types of employment in Saudi Arabia. Jobs in service and sales are considered totally unacceptable for citizens of Saudi Arabia—both to potential employees and customers.
At one department store, Al Haram, of 150 employees, only 25 ... are Saudi. All the Saudis are either cashiers or managers. The store manager, Ali al Qahtani, a Saudi, insists that even if a Saudi asked to work in sales (and none has ...) he would not permit it. 'I would put him at reception or cashier,' he says, 'because Saudi society wouldn't accept a Saudi salesperson.' Indeed, a Saudi intellectual who lives in the kingdom but travels often to Europe and the United States recounts his embarrassment at being served by a Saudi waiter in a restaurant. '... I didn't know what to do, it was so embarrassing.'
