In today’s era, many leading businesses are putting more effort into retaining a client over acquiring new clients. While attracting new consumers has its appeal, maintaining existing consumers will yield a higher ROI over time – and it will cost 5 to 25 times less. However, it is often easier to say so than act, especially in today’s competitive digital age.
Following the footsteps of the retail and engineering professions, the Ministry of Human Resources and Social Development in Saudi Arabia has implemented 30% localization of the accounting profession in line with Vision 2030, which came into effect on 12 June 2021. The Nationalization Scheme, or Nitaqat, is a policy adopted by the Ministry of Labour that requires Saudi enterprises to hire local people on a quota basis. The government aims to create more than 9,800 jobs in the private sector by localizing jobs in this profession. This article will dive into details in the Saudization plan, how the government is facilitating it, and what needs to be done to achieve the goal.
This paper is focused on the journey of Kuwait as a business powerhouse, its economic diversification strategies, its market strengths, investment opportunities, and corporate structures.
This document is focused on resolving the most frequently asked questions about the steps and procedures required to form a company in Saudi Arabia.
Read this blog to get a detailed understanding of how outsourcing payroll creates value for your organization by optimizing the process.
Read this blog to know about payroll, demand drivers, challenges, market trends, and how outsourcing payroll helps businesses overcome the challenges.
In this paper, we will walk through the journey of the 50-year young country, the UAE, its economic diversification, and its rise to becoming a global tycoon. Located at the center of the world map, we bring to you the Emirates, the brightest star in the constellation.
Saudi Arabia has opened its borders to the outside world with the newly introduced tourist visa. Saudi Arabia offers visitors a chance to discover and experience warm hospitality, a rich culture, a diverse heritage, and breathtaking landscape views. The government plans to expand the tourist market beyond religious pilgrims to diversify the Saudi economy beyond oil revenues.
When businesses are formed, the process involves the investment of capital, precious time, human power, and innovative ideas. All of these factors, put together, create the perfect recipe for a successful organizational model. The Saudi Arabian business community is built on smart strategies, sound financial operations, and technological integration.
In the 1950s, the sponsorship program (Kafalah in Arabic) emerged to regulate contractors’ and workers’ relationships. Under Kafalah, a migrant worker's immigration status was bound to a sponsor (Kafeel in Arabic) for a certain period. Over the period, the employer was given extensive rights regarding the mobility of migrant workers. The expat was permitted to work within the Kingdom as per the agreement with the sponsoring employer. However, they could not transfer or change the employer or leave the country without obtaining written permission from their current employer. Besides the government, only the sponsor had the authority to secure the worker's residency and work permits and cancel such permits. The employer was expected to report to the immigration authorities if the migrant worker had quit his/her job to confirm that they had returned to their home country after the employment period's termination. If a worker was reported as absconding to the authorities, the worker might get deported to their home country.