Developments Affecting Foreign Investors in Saudi Arabia October 2016

Business Climate The Saudi government has proposed and/or implemented a wide range of procrustean measures to adjust to new fiscal realities in the wake of falling oil revenues, including canceling tens of billions of dollars of contracts,1 merging, eliminating or privatizing key government agencies (including Saudi ARAMCO), taxing expatriate income and remittances, drastically raising traffic fines and visa fees, and …

Individual Foreign Investors

The Saudi Arabian General Investment Authority (SAGIA) has recently made a press release issuing guidelines for individual foreign investors to apply for foreign investment license and obtain an “investor” status on their residence permit in Saudi Arabia. This is a welcoming step since a few years back SAGIA had stopped accepting applications from individual foreign investors; although historically individual foreign …

Success at the Global Competitiveness Forum hosted by SAGIA

SAGIA — This year’s Global Competitiveness Forum (GCF) – held at the Four Seasons Hotel Riyadh on January 24th to 26th – was a record-breaking event. Over three (3) days, attendance reached a total 3400 participants from around the globe. This year’s program and theme – “Competitive Sectors” – was marked by the keynote addresses of Marillyn Hewson and Indra …