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Saudi Arabia to stop trading with foreign companies with no regional HQ in the kingdom.

According to reports in the Financial Times, state media and the websites of france24.com and aljazeera.com this week, Saudi Arabia said it will stop working with foreign firms that don’t base their Middle East headquarters in the kingdom.  Allegedly starting in 2024.

It seems (Bloomberg  15 Feb 2021) Saudi Arabia has offered firms (including Deloitte, PricewaterhouseCoopers)  a package of incentives including tax breaks to urge them to set up shop in the kingdom under a plan dubbed ‘Project HQ’.

If you plan to open a new branch office in the region, or have documents to be notarised for Saudi Arabia, please contact one of our members or email admin@mynotary.co.uk

Find here advice from HM Government on exporting to Saudi Arabia from the UK