Company Incorporation & Licensing
Hire Your Company Incorporation Services & Licensing Partner in Saudi Arabia and GCC Get your business legally registered without the usual complications, handled by our partners and guided every step of the way by PROVEN. We simplify company formation by connecting you with trusted partners specializing in company incorporation services across Saudi Arabia and the […]
How to Open a Company in Saudi Arabia
Are you an ambitious company looking to expand your business into a vibrant and thriving market like Saudi Arabia? By opening a satellite branch in Saudi, you would have made the correct business decision as the Kingdom offers excellent growth opportunities.
GOSI: INSURING THE FUTURE OF YOUR COMPANY
The General Organization for Social Insurance (GOSI) carries out the social insurance regulations in Saudi Arabia. GOSI collects contributions from employers, covers social insurance according to the law and pays benefits for insured persons or their families. The organization provides medical treatment, allowances and services for injured or disabled individuals or to the families of insured individuals who are deceased, in which case the death pension is received.
GOSI calculations vary across employee nationalities with employees split into three main groups, Saudi Nationals, GCC nationals who have varying contributions and other expat workers. For Saudi nationals in the private sector GOSI contributions equal 22% of the maximum monthly applicable earnings (9% each for the employee and employer for pension contributions, 1% each for unemployment contributions and 2% for occupational hazard which is covered by the employer). The monthly earning combines basic salary, housing allowance and commissions. In-kind housing is equivalent to a two-month basic salary divided by twelve months. Meanwhile, minimum salary 1500 SAR will be counted as half Saudi and minimum salary 3000 SAR will be counted as full Saudi.
Advantages of Outsourcing – how it can help your company
Outsourcing lets small to medium-sized businesses have access to experts with less risk to them in their early stages of growth.
Another shift that we are seeing is that traditionally larger companies would not need to use outsourcing services, however, this is changing as they explore new markets and sectors. Outsourcing gives them access to experts without the need to take on permanent staff.
Saudi Arabia Economic Cities: Shaping a Diversified Future Under Vision 2030
Six economic cities are in the pipeline for the Kingdom, demonstrating their financial priorities shift.
Starting a business in Saudi Arabia
For foreign investors looking to business in Saudi Arabia, there are many misconceptions associated with starting a business in Saudi Arabia.
7 Regulatory Compliance Best Practices for Saudi Businesses
One of the most common things companies say when entering Saudi Arabia is this: “We already have a compliance process in Dubai. We will just adjust it for KSA.” On paper, that sounds reasonable. In practice, it rarely works smoothly. Saudi Arabia has its own legal structure, reporting systems, and government processes for regulatory compliance […]
4 Benefit Administration Examples for Saudi HR Teams
As businesses continue to grow and expectations shift, benefits themselves are no longer the only factor that matters, but how they’re managed is what truly matters these days. Delays in enrollment, unclear leave policies, and inefficient insurance processes can greatly impact employee satisfaction, leading to higher turnover. This is where businesses should focus on practical […]
20 Benefits of Accounts Payable Business Process Outsourcing
In today’s competitive business landscape, managing finances efficiently is vital for maintaining profitability and ensuring smooth operations. Accounts payable (AP) management, while crucial, can often be time-consuming and error-prone when handled in-house. This is where Accounts Payable Business Process Outsourcing (AP BPO) becomes a game-changer. By outsourcing AP functions, businesses can benefit from expert support, […]
Employee Onboarding Process in 7 Easy Steps
Many companies believe that an employee onboarding process starts on the first day, but it actually begins much earlier. It starts the moment a candidate accepts the offer. And in many cases, the success or failure of that hire is already being shaped before they even walk into the office. This article will structure the […]