RIYADH: Foreign companies can benefit from an array of online services when establishing their regional headquarters in Saudi Arabia, the Ministry of Commerce has announced. These benefits are aimed at streamlining the process for international businesses to expand their operations within the Kingdom following the acquisition of the necessary license from the Ministry of Investment, according to a report by the Saudi Press Agency. The Ministry of Commerce detailed that the online services would facilitate various essential functions, including issuing a regional headquarters as a branch of a foreign company and establishing a Middle East base as an independent foreign entity. Additionally, services for reserving commercial names are provided, as well as handling procedures related to the commercial register, such as issuing, amending, and renewing. These comprehensive online benefits are accessible through the ministry’s digital and Saudi Business Center platforms. This initiative underscores the Kingdom’s commitment to leveraging digital transformation to enhance the ease of doing business, making it simpler and more efficient for foreign companies to set up their regional headquarters. Saudi Arabia has outperformed its target for attracting regional headquarters, with over 180 companies now established in the Kingdom. This number surpasses the initial goal of securing 160 HQs by the end of 2023, as disclosed by Minister of Investment Khalid Al-Falih in November last year. Al-Falih emphasized that the regional program is part of a “long-term journey,” adding that the Kingdom is working with international entities to create the “right ecosystem” to open their offices in Saudi Arabia. Some notable companies that have opened their regional head offices in Saudi Arabia in recent months are PwC Middle East and GE Healthcare. “We had a target by year-end to have 160 regional headquarters for global companies. So far, the year is not up yet, and we have issued 180 licenses. In fact, the rate is picking up to the tune of 10 companies per week that are being licensed in Saudi Arabia, and they are being provided with a good set of incentives,” the minister revealed at the time. This trend of corporate relocations aligns with Saudi Arabia’s policy, first introduced in early 2021, which mandates international companies to set up their regional head offices in Riyadh if they intend to secure government contracts.