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29 June 2016

Saudi Arabia opens retail and wholesale sectors to 100% foreign direct investment

The Council of Ministers of the Kingdom of Saudi Arabia (KSA) has ratified the decision allowing foreign companies to increase foreign investment from the present 75% limit to 100% in the retail and wholesale sectors. Investors will now have the flexibility to structure their operations either in the form of joint ventures or seek 100% ownership in the retail and wholesale sectors. This decision will be instrumental in attracting large multinational retail and wholesale companies into the KSA.

A Tax Alert prepared by Ernst & Young Saudi Arabia, and attached below, provides additional details.

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ATTACHMENT

Full text of Tax Alert 2016-1136

Document ID: 2016-1136

 

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