Amazon among multinational giants to obtain regional HQ license in Saudi Arabia before deadline

Google, Microsoft, and Amazon were among several multinational giants to obtain licenses for regional headquarters in Saudi Arabia in time to qualify for government contracts, official data showed.

In 2023, it was announced that international firms who did not have their Middle East base in Riyadh would be unable to bid for work from the Kingdom’s ruling administration.

The deadline for obtaining a permit for headquarters in the Saudi capital was Jan. 1 2024, and the Kingdom’s Ministry of Investment has released a database showing some of the world’s top companies are set to make the switch.

Google received the license on Dec. 14, while Microsoft and Amazon were issued the permit on Dec. 26 and Dec. 27, respectively.

The data also shows that several other companies including Airbus, Oracle and Pfizer obtained regional headquarters licenses before the deadline.

The Ministry of Investment’s website revealed that these licenses are valid for five years from the date of issuance.

According to government figures, over 200 international companies received permission to establish their regional headquarters in the Kingdom before Jan. 1.

Meanwhile, several firms including Northern Trust, and Bechtel from the US, and IHG Hotels and Resorts, PwC, and Deloitte from the UK have already set up their Middle East bases in Saudi Arabia.

The program is a joint initiative between the Ministry of Investment and the Royal Commission for Riyadh City.

In November, Minister of Investment Khalid Al-Falih told Bloomberg that Saudi Arabia has crossed the target of attracting 160 international companies to the Kingdom under the scheme.

In December, Saudi Arabia announced that it would offer financial incentives for foreign companies that establish their regional headquarters in the Kingdom, including a 30-year exemption from corporate income tax.

Additionally, international firms which have bases in the Kingdom will also get special benefits if they comply with Saudization requirements.