The Kingdom of Saudi Arabia’s petroleum-supported economy has held it steadily in the G-20 rankings. Their dependency on oil and a lack of diversity in economic resources led to government initiatives like the Saudi Vision 2030 framework. This broad-reaching strategy covers areas such as SA public service sectors, but also increasing their international trade in non-oil areas.
Saudi Arabia has seen foreign investments rise despite political issues. Hiring in the country is complicated by their “Saudization” policy, which is meant to heavily weigh any hiring in private sectors towards residents. Work permits and visas for anyone coming in from outside the country can be extremely difficult to obtain. In a country that is full of expatriates, the laws that govern Entry Visas, Exit Visas, Invitation Work Visit Visas, and more are still complex. New companies often find it wise to work with Professional Employer Organizations (PEOs) and Employer of Record (EOR) services in Saudi Arabia, especially if they’re ready to get into the market rapidly. Here, we’ll discuss the benefits of PEOs/EORs in Saudi Arabia and go over the top choices.
Why Use a PEO in Saudi Arabia?
As we mentioned, maneuvering the Visa process in Saudi Arabia is slow and intimidating. Here’s where a PEO solution helps. New companies don’t have to directly hire employees in the country – the local partner can handle employee selection and retention. Local experts can also mobilize office openings, handle contracts, and more. Saudi Arabian employment contracts and taxes are unique to their country.
Best Saudi Arabian PEOs and Employer of Record
With a worldwide client list, GP is a well-known PEO solution for midmarket companies. Their workforce support is available in over 170 countries, including Saudi Arabia. They offer employee leasing, payroll services, and more, covering a range of employee issues under their local company umbrella.
A centralized management style is efficient for new companies who have located and are already working with local experts in Saudi Arabia.
Headquartered in Colorado, Velocity Global has become a well-known source of end-to-end services for new overseas business launches. They provide a helpful online Resource Center for information on foreign expansion, the important details of PEOs, and the best business practices on approaching talent acquisition overseas.
Advertising fast onboarding, Velocity Global has worked in 185 countries, such as Saudi Arabia, since its 2014 launch. Their focus on cloud-based tech is especially appealing to companies with several foreign entities.
Asian-based New Horizons Global Partners continue to be tops at providing their brand of comprehensive support services. New Saudi Arabian businesses can rely on their local presence that delivers tailored solutions. Their worldwide client base is diverse and includes Fortune 500 companies.
For businesses completely new to the Saudi Arabia market, New Horizons Global Partners offers a full suite of PEO/EOR solutions – they’re able to handle turnkey business openings. Fast hiring, expedited employee onboarding, and easy employee contract administration are just part of their services.