Economy Archives - KSA Expats

Expatriate Remittances Surge by 11% in June 2024, Reaching 12.1 Billion Riyals

In June 2024, expatriates residing in Saudi Arabia sent a remarkable 12.1 billion riyals to their home countries, reflecting an 11% year-on-year increase from the 10.84 billion riyals remitted in June 2023. This notable surge underscores the significant financial contributions that expatriates continue to make towards the economies of their home nations. Despite this annual […]

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The Types of Crude Oil Produced in Saudi Arabia

Saudi Arabia, Economy, Technology

In the global energy market, crude oil stands out as a crucial commodity. It powers everything from vehicles to industrial complexes. At the core of the oil narrative is Saudi Arabia, a dominant player with its state-owned giant, Saudi Aramco, leading the charge. The country’s vast and productive oil fields produce various types of crude,

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A New Business Horizon: 30 Years Without Tax in Saudi Arabia

Saudi Arabia, Economy

Saudi Arabia has taken a significant step towards bolstering its position as a prime destination for multinational corporations by unveiling a generous tax incentive program. This initiative, detailed in the official Umm Al-Qura Gazette, outlines the eligibility criteria for multinational companies to benefit from a 30-year income tax exemption upon relocating their regional headquarters to

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saudi arabia public private partnership ppp

Simplifying Saudi Arabia’s New Public-Private Partnership Rules

Saudi Arabia, Economy

Saudi Arabia recently updated its rules for public-private partnership projects, making them simpler and more efficient. Let’s break down what these changes mean and how they will impact future projects. What Are Public-Private Partnerships? Public-private partnerships (PPPs) are collaborations between government entities and private companies. They work together on projects like infrastructure development or service

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Saudi Premium Residency: An Overview

Saudi Arabia, Economy, Expat Fees, Iqama, Moving to KSA

Premium Residency Saudi Arabia’s Premium Residency program, colloquially known as the Saudi Green Card, marks a significant shift in the country’s approach to attracting global talent and investment. This initiative aligns with the Vision 2030 reform plan, spearheaded by Crown Prince Mohammed bin Salman, which aims to diversify the Saudi economy beyond its traditional oil

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Top 10 Companies in Saudi Arabia for Expatriates Seeking Opportunities

Saudi Arabia, Economy, Employment

Saudi Arabia, a land of vast economic potential and diverse opportunities, stands as a beacon for expatriates worldwide. With its dynamic economy and expansive vision for the future, the Kingdom hosts many of companies that offer promising careers. This guide, tailored for expatriates, will introduce you to the Top 10 Companies in Saudi Arabia –

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Top 10 Oil and Gas Companies in the World

Saudi Arabia, Economy

In the dynamic and ever-evolving energy sector, oil and gas companies play a pivotal role in powering economies and shaping the global energy landscape. As we navigate through the complexities of energy demand, sustainability concerns, and technological advancements, understanding the key players in this industry becomes crucial. This blog article aims to introduce you to

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Saudi Arabian Public investment Fund (PIF)

Everything You Need to Know About PIF (Public Investment Fund)

Saudi Arabia, Economy

The Public Investment Fund (PIF) is the sovereign wealth fund of Saudi Arabia. With an estimated asset value of $736 billion, it is one of the world’s largest sovereign wealth funds. It was established in 1971 with the intention of investing funds on behalf of the Saudi government. Saudi Arabia intends to transform the PIF

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Saudi Arabia Customs Clearance: A Comprehensive Guide

Saudi Arabia, Economy

Understanding customs clearance rules is key to exporters and importers, and Saudi Arabia has its distinct set of guidelines. This article provides a detailed overview of Saudi Arabia’s customs clearance guidelines to assist importers and exporters. General Import Guidelines Import Duties and Fees Duties Exemption Certain goods enjoy customs duties exemptions, including: Imports Required Documents

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Saudi Vision 2030: A Path to Transformation

Saudi Arabia, Economy

Saudi Vision 2030 is a bold and far-reaching plan aimed at reducing Saudi Arabia’s dependence on oil, diversifying its economy, and developing public service sectors such as health, education, infrastructure, recreation, and tourism. Launched in April 2016 by Crown Prince Mohammed bin Salman, the plan outlines the Kingdom’s long-term goals and expectations, signifying a significant

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