Business

5 reasons to expand your company to Saudi Arabia in 2022

A map of Saudi Arabia

Is it time to move your business to another country and to introduce your business to a new market? If you are thinking big and want to expand your company to Saudi Arabia this year, then prepare in advance. One of the first steps to take is to have strong reasons to do that. Why people are expanding their business in Saudi Arabia, what are the pros?

About the country

Saudi Arabia is a country in Western Asia and it is the 5th largest country in Asia. A lot of people visit KSA every year, not only because of Hajj (in Mecca and Medina) but also as tourists or for business. This country is developing very fast and it is becoming more modern. 

A team bumping fists before they expand your company to Saudi Arabia
Make a new business plan to expand a business to another country.

Pros of setting up your company in Saudi Arabia in 2022

Why should you consider an option to expand your company to Saudi Arabia and what can bring you? Before you take the first steps and start your own business on another continent, take a look at these advantages. If you are having any doubts, maybe these reasons will help you make a decision. Before moving your business to a new location make a list of all the pros it will bring you in the long term.

#1 Tax benefits

When you are moving or expanding your business to Saudi Arabia, you will have some tax benefits as a business owner. Foreign investors from the USA or any other country in the world have minimal liability for personal income tax. On the other hand, corporation taxes sits at 15%. Some goods and services are subject to a zero rate which is a big advantage.

#2 Business-friendly country

Do not worry, because Saudi Arabia is a business-friendly country and it has a very welcoming environment. It is open to people from all around the world. They are welcoming foreign tourists and investors at the same time. People from KSA are known to be incredibly friendly and welcoming to foreigners. Their hospitality is well-known. The World Bank’s Doing Business Index also ranked Saudi Arabia on a high level.

#3 A strong economy 

If you want to expand your company to Saudi Arabia, the economic factor is one of the most important ones. Saudi Arabia is keen to diversify its economy away from oil and gas, so it is not the only industry there (of course it is the main industry that brings most of the money to a country). The economy is booming and other industries are growing, very fast. Industries that are growing are tourism, manufacturing, technology, finances, healthcare, and pharmaceuticals. 

A person holding a white board.
Have a team of people you can trust.

#4 Innovations

Saudi Arabia is investing a lot of money in technology and innovations (a billion US dollars). It may become a tech hub in the near future. There will be plenty of jobs in the high-tech and IT industries. Therefore, if you have a good and innovative business idea and a plan, it may be a good decision to expand your company to Saudi Arabia in 2022. If you want to invest in KSA, first explore real estate businesses in Saudi Arabia and create a budget. 

#5 High standard of living

You don’t have to worry about the safety in KSA, even if you are moving your family there as well. Saudi Arabia is one of the safest places, just one place behind Canada. It is safer than the UK or Japan, for example. The cultural shock will be big at the beginning, but expatriate compounds provide high standards of living. Education is highly rated and well as healthcare.

How to move items overseas?

How to move your business equipment and business supplies to Saudi Arabia? it may be a complicated process, especially if you need to move from the USA to KSA and plus if you are moving there too. It is a lot to handle, but having moving professionals by your side to help you out, will make the overseas relocation easier and less stressful. Expand your company to Saudi Arabia and Four Winds KSA can help you with transportation.

Saudi Arabia map.
Saudi Arabia has a great location.

One of the first steps is to prepare your paperwork for business relocation. Also, keep in mind, that there are some forbidden items to import to KSA because of their laws a different and more strict. 

Renting a commercial storage unit in KSA

Where to store all your goods and business supplies during the relocation? It may be a big problem, but it does not have to be if you rent a storage unit for your commercial needs. Even if you have items that are sensitive to temperate changes, there are storage facilities. Air-conditioned storage units are perfect for goods with special requirements and all of your goods will be in a safe place.

You can use a storage unit while moving and after moving too. Many businesses (especially retailers) use a storage unit to store their goods. This way, offices are not cluttered and they are more organized – which can increase productivity. 

Prepare for this big business step

Having a checklist for office relocation will not the enough because expanding a company to another country, overseas is more than that. You must have a detailed business plan and a team of people around you. The experienced and reliable team that will help you will the entire process. To expand your company to Saudi Arabia, get all the paperwork first and make sure you have all the required licenses. Which licenses depend on the type of your company.

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