What is RHQ initiative?
Regional Headquarters (RHQ) program is initiated by Ministry of Investment Saudi Arabia (MISA) and the Royal Commission for Riyadh City (RCRC) with the objective of inviting global companies to relocate their regional headquarters to Saudi Arabia. This is a major development strategy of the government of the Kingdom of Saudi Arabia. It is a part of Saudi Arabia “Vision 2030” which aims to make Riyadh one of the 10 largest economic cities in the world by 2030.
Why move your Regional Headquarter to the Kingdom?
The government of the Kingdom of Saudi Arabia has announced that foreign investors seeking to secure government contracts must have their RHQ in the Kingdom of Saudi Arabia (this is to be enshrined in law by January 1, 2024). Saudi Arabia is the largest economy in the MENA region. The RHQ initiative brings significant benefits to global companies. Companies that relocate their regional headquarters to the Kingdom of Saudi Arabia will enjoy the following incentives:
- Saudization exemptions
- Visa limit exemptions
- End-to-end business services
- Spouse and dependent work permits; and
- Other benefits/incentives.
How Pangea can help you?
Pangea Worldwide is actively following these significant developments to ensure we are at the forefront of these regulatory changes.
We can provide:
- Relocation services for your RHQ and employees.
- Business setup.
- Local Recruitment.
- GRO services.
- Concierge services.
If you have any questions, please contact our Saudi-based corporate structuring team who will be happy to assist you in obtaining your RHQ license.