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The number of multinational companies choosing Saudi Arabia as their base is on a sharp rise. 600 companies now have their regional headquarters in Saudi Arabia, a development that reflects the Kingdom’s growing appeal as a global business hub.
The modern infrastructure and the availability of world-class facilities are attracting international firms to the country. Some of the most prominent companies that have already relocated their headquarters to Saudi Arabia include Northern Trust, Bechtel, and PepsiCo from the United States, and IHG Hotels and Resorts, PwC, and Deloitte from the United Kingdom.
In a major move, Morgan Stanley, a US-based investment bank, was granted approval to establish its regional headquarters in Saudi Arabia in November 2024.
This surge began with the 2021 launch of the Saudi Program for Attracting Regional Headquarters (RHQ) of multinational corporations to the Kingdom’s capital, Riyadh.
Regional Headquarters Program in Saudi Arabia
The regional headquarters program in Saudi Arabia is a strategic initiative jointly led by the Ministry of Investment and the Royal Commission for Riyadh City, as reported by the Saudi Press Agency.
Saudi Arabia’s RHQ program offers several compelling incentives for international companies. Most notably, in December 2023, a 30-year tax relief package was announced for qualifying businesses. This includes 0% corporate income tax and 0% withholding tax, making the Kingdom an even more attractive destination for regional operations.
The program also simplifies the process of setting up in the Kingdom by providing end-to-end support services, ensuring a smooth transition for incoming firms. To know more on Companies Now Have Their Regional Headquarters in Saudi.
Why Are International Firms Moving to Saudi Arabia?
Beyond the generous tax incentives, it is Saudi Arabia’s modern infrastructure, world-class facilities, and quality of life enhancements that are pulling global companies in.
As part of the RHQ initiative, international firms also gain access to K-12 international schools with seven new schools recently opened to accommodate the families of foreign professionals.
How Do Foreign Firms Contribute to Saudi Arabia’s Growth?
The establishment of regional headquarters by around 600 foreign companies is set to drive significant economic growth. This move aligns with the Kingdom’s vision to double the size of its economy, enhance the quality of life, and position Riyadh among the top 10 global city economies by 2030.
What Makes the RHQ Program a Success?
Saudi Arabia’s strategic geographic location connecting Asia, Africa, and Europe plays a crucial role in its rise as a global logistics and business hub. The presence of a young, skilled workforce, along with a stable and business-friendly environment, further strengthens the Kingdom’s value proposition.
Looking to Establish Your Company’s Regional Headquarters in Saudi Arabia?
At J K Management Consultancy, we specialize in helping multinational corporations transition smoothly into the Saudi market. From company formation and licensing to RHQ application support and relocation services, we’re your trusted partner in unlocking business success in the Kingdom.
📞 Contact us today to get started on your journey to Saudi Arabia.
