Saudi Arabia Surpasses Target for Foreign Firms Opening Regional HQs, Transforms into Major Global Business Hub
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More than 180 foreign firms secured licenses to establish regional headquarters in Saudi Arabia, surpassing the 2023 target of 160 companies.
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The initiative offers companies a 30-year exemption from corporate income tax for establishing Middle East bases in the Kingdom.
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Notable companies like TUV Rheinland, Tarjama, JLL, IHG Hotels & Resorts, GE Healthcare, Bechtel, and Technal opened regional HQs in Saudi Arabia in 2023.
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Saudi Arabia is transforming its economy beyond oil and establishing itself as a major global business hub under Vision 2030.
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The country is attracting leading companies by cultivating a business-friendly ecosystem with incentives like the regional headquarters program.