As part of its ambitious socio-economic reforms, collectively known as ‘Vision 2030’, the Saudi Arabian government seeks foreign investment that explicitly promotes economic development, transfers foreign expertise and technology to Saudi Arabia, creates jobs for Saudi nationals, and increases Saudi Arabia’s non-oil exports. It encourages investment across nearly all economic sectors, with priority given to chemicals, industrial, and manufacturing; transport and logistics; information and communication technology; healthcare and life sciences; water and waste management; energy; education; tourism, entertainment and sports; real estate; financial services; and mining and metals.
Saudi officials have also stated their intention to attract foreign small- and medium-sized enterprises (SMEs) to the Kingdom. To facilitate and promote the growth of the SME sector, a new Companies Law was issued in 2016. Saudi Arabia’s financial policies generally facilitate the free flow of private capital and currency can be transferred in and out of the Kingdom without restriction.
Sovereign Corporate Services provides a comprehensive set of services for company formation and business set-up in the Kingdom, together with a range of resourcing, recruitment and HR services, and ongoing business support.