Saudi Arabia has unveiled its national budget for 2026, emphasizing its sustained dedication to economic transformation and fiscal stability in line with Vision 2030. The primary highlights and themes informing the 2026 budget are as follows: Economic Outlook and Revenue Forecasts The 2026 budget anticipates consistent economic growth, supported by Read more
Saudi Arabia has just taken a remarkable step that is already capturing global attention. For the first time in its modern regulatory history, the Kingdom has approved a law that allows foreign individuals and entities to own real estate within designated zones across the country. Published on July 25, 2025, Read more
Saudi Arabia has officially launched its national real estate tokenization infrastructure and digital ownership transfer, marking a bold new chapter for the Kingdom’s property market. This move not only modernizes real estate processes but also reimagines how people around the world can invest in Saudi property, all in alignment with Read more
As 2025 enters its final quarter, business leaders are approaching a decisive period, an ideal time to reassess financial health and performance. A thoughtful review of cash flow before year-end and accounts to date can determine whether the year closes smoothly or under pressure. This process goes beyond balancing the Read more
Saudi Arabia’s Ministry of Finance has released its latest financial report, showing steady growth in non-oil revenues alongside a third-quarter budget deficit of SR30 billion. In the first nine months of 2024, non-oil revenues increased by 6%, and as oil revenues grew 16% year-over-year, reflecting the Kingdom’s push to diversify Read more
In a significant achievement of Saudi Arabia’s Vision 2030 goals, Minister of Investment Khalid Al-Falih announced that the Kingdom now hosts 540 regional headquarters for international companies, surpassing its original 2030 target of 500. Speaking at the eighth Future Investment Initiative (FII8) at the King Abdulaziz International Conference Center in Read more
In a bid to foster inclusivity and boost investment, Saudi Arabia’s Ministry of Human Resources and Social Development has introduced a significant update to its Nitaqat Saudization program. This groundbreaking move aims to treat foreign investors on par with Saudi nationals, marking a pivotal shift in the country’s approach to Read more
Saudi Income Tax Law Withholding tax [Article 68, new insertion 1] – Salary payments to non-resident employees The Saudi Arabian Government has unveiled a new draft outlining potential changes to the Income Tax Law, inviting public feedback. These proposed changes follow recent enhancements made to the tax regulations. These suggested Read more
On June 28, 2022, The Ministry of Commerce and the Capital Market Authority (CMA) announced the new corporate law (the ‘New Companies Law’). It came into force as of Thursday, Jan 19, 2023. The New Law will replace the recently published Companies Law of 2015, as well as the Professional Read more
A procedural guide for the decision of localizing consulting services was issued by The Ministry of Human Resources and Social Development (HRSD). In the first phase, 35% of consulting professions and businesses will be localized as of April 6, 2023. In The second phase, 40% will be implemented as of Read more
