Economy
Saudi Arabia to Waive ‘Expat Fees’ for Industrial Companies

(Bloomberg) — Saudi Arabia will waive the controversial fees it requires industrial companies to pay for their foreign workers for a period of five years, lightening a burden on the private sector.
Since January 2018, businesses have been required to pay fees for foreign workers they employ, part of the government’s strategy to raise non-oil revenue and encourage companies to hire Saudis. Many businesses, accustomed to cheaper foreign labor, have struggled to adapt to the fees, which were imposed at the same time as subsidy cuts and a value-added tax.
Read more:
- Saudi King Approves $3.1 Billion Plan to Ease Expat Fee Costs
- Saudi Arabia Said to Review Expat Fees as Economy Feels Sting
- Saudi Arabia Starts Offering Permanent Residency for $213,000
The levies contributed to an exodus of foreign laborers, hitting the economy without making much of a dent in Saudi unemployment.
In February, King Salman approved a $3.1 billion plan to ease the levies and help revive economic growth, but some businesses said the measures didn’t go far enough.
The cabinet on Tuesday announced that the state will temporarily cover the cost of the fees for licensed industrial companies, according to the official Saudi Press Agency. The cabinet statement didn’t provide further details.
There are two types of fees on foreign workers in the kingdom. The change on Tuesday applies to those paid by businesses, not to fees that foreign residents must pay on behalf of their dependents.
-
Banking & Finance1 month ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
Bahrain1 month ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Banking & Finance2 months ago
Central Bank of Oman Issues Regulatory Framework for Digital Banks
-
Banking & Finance3 weeks ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
Insurance2 months ago
Liva Insurance Sets New Benchmark with ‘Innovative Insurer of the Year’ Award at the New Age Banking Summit 2025
-
Energy4 weeks ago
Russian Energy Week from October 15-17, 2025 offers alternative formats of cooperation
-
Banking & Finance1 month ago
The Future of the International Financial System to be discussed at SPIEF 2025
-
Business1 month ago
Over 137 Countries and territories confirm participation in SPIEF 2025