Saudi Arabia has a largely oil-based economy with 25% of the world’s proven petroleum reserves making it the biggest exporter of petroleum in the world. The petroleum sector accounts for roughly 45% of budget revenues, 55% of GDP, and 90% of export earnings. About 40% of GDP comes from the private sector. Roughly five and a half million foreign workers play an important role in the Saudi economy, largely in the oil and service sectors.
The government is encouraging private sector growth to lessen the kingdom's dependence on oil and increase employment opportunities for the swelling Saudi population. The government has begun to permit private sector and foreign investor participation in the power generation and telecom sectors. Riyadh in particular has been able to increase its spending on job training, education and infrastructure.
As a result international companies are increasingly looking at Saudi Arabia as a place to pitch their services. When providing services in Saudi they will either have to relocate their own staff or source international contractors. It is very difficult to start a company in Saudi Arabia as a foreign owned enterprise and as such if these companies wish to relocate their staff or source international contractors they will require a locally based Contractor Management Company to provide a full employed local solution for their employees.
This will entail Saudi Work Permits (Iqama) and local Saudi payroll. As an individual, working in Saudi Arabia can be a highly rewarding experience, an opportunity to experience living in the Middle East, high earning rates and paying zero income tax!
Our services in Saudi Arabia include:
Tax, Payroll and Employment Solutions for Clients and Individual Contractors
Sponsored Work Permits for Clients/Contractors/ Freelance Workers
Self-Employed / Pty Ltd Companies
Expatriate Tax specialists
Insurance (Private Health / Travel / Professional Indemnity)
Bank Account Opening
You can reach all our resources for Saudi Arabia from this page.
- Information on IMMIGRATION AND WORK PERMITS including Iqama.