Papaya Global’s Post

Saudi Arabia could very well become a popular destination for global companies. Here are some important things to know if your company is considering managing and paying employees in Saudi Arabia. Read our newest blog for more>> https://okt.to/zbV15G #crossborderpayments #workforcepayments #payrollpayments

Thinking of expanding to Saudi Arabia? Understanding local regulations is key! One crucial regulation is Saudization, a program that promotes hiring Saudi nationals. Our latest article breaks down Saudization, exploring compliance challenges and offering actionable solutions to navigate this policy smoothly. https://lnkd.in/dGtr5vnN

By the end of Q3 2023, Saudi Arabia issued licenses for over 162 regional centers. This move, part of the Regional Headquarters Program in collaboration with the Ministry of Investment and the Royal Commission for Riyadh City, encourages global companies to shift their regional HQs to the Kingdom. Such regional bases support and guide branches across the MENA region. Initiatives include granting premium residency to executives, streamlining administrative procedures, and offering employee incentives. #SaudiInvestment #BusinessExpansion #RHQ

Every country has its pros and cons when it comes to ease of doing business! In Past few years, businesses are facing huge challenges to sustain in oman. Profitability is issue for large companies and hence many are planning to close their operations in the kingdom. apart from FMCG, all other major industries are getting buried under regulations and rules.

The Ministry of Human Resources and Emiratisation (Mohre) and the Ministry of Finance (MOF) have announced a groundbreaking initiative that prioritizes companies meeting Emiratisation targets in government procurement bids. This move is a significant step in reinforcing the Emiratisation drive within the private sector. Key Highlights: Companies with 50+ employees must increase their Emirati workforce by 2% annually until 2026. Strict implementation of the Emiratisation scheme, with substantial fines for non-compliance. Nearly 900 companies were found violating the rules in just six months. Benefits for Compliant Companies: Membership in the Emiratisation Partners Club. Access to Nafis benefits, including financial support. A database of qualified UAE nationals for private sector employment. Pension contribution support programs. Advancing Emiratisation: The Ministry of Finance is dedicated to enhancing UAE nationals' participation in the labour market and boosting their contribution to the national economy. A new procurement platform has been launched, part of the ministry's digital transformation strategy, to facilitate supplier registration and engagement in federal government tenders. Empowering SMEs: The digital platform, with 14,000 registered suppliers, offers a streamlined process for participating in tenders and online auctions. Special advantages are provided to SMEs to boost their participation in tenders. This initiative not only supports the national Emiratisation goal but also opens new opportunities for businesses committed to this vision. #Emiratisation #UAE #HumanResources #GovernmentProcurement #DigitalTransformation #SMEs #UAEconomy #Mohre #MOF #NafisBenefits #UAEJobs #EmiratiWorkforce #HRProfessionals #UAEnews

I found this course very interesting in how the UAE have structured their tax in terms of Foreign investors and non-residents with permanent establishments in the UAE. Looking forward to applying the knowledge gained.

Saudi Arabia: Remittances fall to five year low The remittance by expatriates living in Saudi Arabia fell 10.41 percent to SR9.33 billion during February 2024 from SR10.41 billion in the previous month. This shows a the decline of SR1.08 billion month-on-month basis, marking the lowest average monthly level in five years, according to a monitoring by Okaz/Saudi Gazette based on the statistical figures released by the competent authorities. To read details click https://lnkd.in/d5MacqJ3

Unlock critical insights into the termination of labour contracts and entitled pay in Saudi Arabia with our Practice Note authored by Bedoor Alrabiah. Download now: http://lexn.me/8QWG50QBQuV Stay informed about the latest developments in employment regulations in the region. Subscribe to our Newsletter: http://lexn.me/KrLN50QBQuY #SaudiArabia #LabourLaw #KSA #LexisMiddleEast #Legal

Saudi Arabia considering fee revision for skilled expats’ dependents. Skilled expatriates in Saudi Arabia could benefit from potential revisions to dependent fees as the government aims to enhance their stability and productivity https://lnkd.in/d_9m9_35

The overseas workers’ remittances recorded an inflow of US$2.2 billion during February 2024, the State Bank of Pakistan (SBP) on Friday said. In terms of growth, during the month under review, remittances decreased by 6.2 per cent on a month-on-month basis. However, on a year-on-year basis, the remittance increased by 13 per cent. Workers’ remittances inflow of US$18.1 billion has been recorded during the first eight months of the fiscal year 2023-24. Remittances inflows during February 2024 were mainly sourced from Saudi Arabia ($539.8 million), United Arab Emirates ($384.7 million), United Kingdom ($346.0 million) and United States of America ($287.4 million).