Expats can start a business without sponsor – King Salman

The Council of Ministers chaired by King Salman has approved that the expats living in Saudi Arabia can own 100% of their business in wholesale and retail without a sponsor.

The decision will create employment opportunities

The decision is in line with Vision 2030 to ease restrictions on ownership and foreign investment in the retail sector to attract regional and international brands, contributing to the creation of job opportunities for citizens in this sector,” said the Cabinet statement.

A senior Saudi Business Analyst in the private sector, Reema Sameer has stated that this new regulation will open many doors and create many opportunities for employment for the youth of Saudi Arabia.

2106 Expatriates can start 100 own business in Saudi Arabia – King Salman 03

Healthy Competition

The new ease in restriction will also allow for healthy competition between businesses and companies, which will, in turn, result in a better quality of the product, better services, and an overall reduction in the price of certain commodities.

An example is, someone can get a laser engraver and cutting machine and could build signs and other personalized items to sell. You can learn more about Boss Laser on social media and see examples of what can be done.

SAGIA is planning to attract more expats

The SAGIA is planning to attract more foreign investors and companies and facilitate them to convince them to set up manufacturing plants of their products inside the Kingdom of Saudi Arabia.

The new announcement which has been made by SAGIA has come after the order from King Salman, the Custodian of the Two Holy Mosques, who had been visiting Washington D.C. over the weekend.  

2106 Expatriates can start 100 own business in Saudi Arabia – King Salman

In accordance with the new decision, the SAGIA has stated that any foreign company which desires to invest in the Saudi Market must first ensure that their offer also includes the specific manufacturing time programs and plans for the introduction of any new technology.

Source: Saudi Gazette

For the latest updates, you can join our WhatsApp group or Telegram Channel.

Never pay the full price, download Saudi Coupon Codes application and get all discount codes in one place.

Steve has been living in Saudi Arabia since 2013 and writing about Saudi rules, regulations, guides, and procedures since then.