Incentives for companies if they move Headoffice to Riyadh and Private Sector not affected by this decision. The Minister of Investment, Khaled Al-Falih, confirmed that the government’s decision to stop dealing with companies that do not transfer their regional headquarters to Riyadh, starting in 2024, will not affect the private sector, warning companies against formal transfer.
Incentives for companies if they move Headoffice to Riyadh and Private Sector not affected
Al-Falih said in an interview program produced by “Arab News”, we still welcome companies that choose to have their headquarters abroad, and there are many opportunities for them in the private sector, as the government will not interfere in that in any way, and the government will facilitate that Companies work with the private sector.
Minister of Investment warned that attempts to transfer companies ‘headquarters “formally” will not succeed, explaining that the companies that will actually move their headquarters will benefit from several incentives, indicating that many Saudis will benefit and have job opportunities (as a result of the companies’ transfer).
Al-Falih added that the Kingdom wants international experts to choose to reside here, not just work and even retire after their employment obligations are over.
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