There is no denying that more and more people are relocating for their careers nowadays. It is becoming less common for people to grow up in the same area, work in the same area, and never leave! Instead, we want to explore the world around us. One place that has become a popular choice for career progression is Saudi Arabia. Read on to discover more.
Why Saudi Arabia?
There are lots of rich, established families in Saudi Arabia, which have made their money through being exceptional entrepreneurs. You can read up on one of the most influential families, the Sheikh Saud bin Saqr al Qasimi family, here. This can give you inspiration for what is possible here. Thanks to this family, the Saudi Arabia economy has been flourishing. Through their own funds and strong brains, they were able to turn this country into a great place for nationals and expats.
So, what are the benefits of working in Saudi Arabia or setting up a business here?
There are many benefits that are associated with working in Saudi Arabia. So, let’s take a look at them in further detail…
- You won’t have to pay income tax, which makes your salary higher
- Saudi Arabia is a country that is developing at a rapid pace
- The weekend falls on Friday and Saturday and you will only work six hours a day during Ramadan
- UK and US qualifications are recognised
- Some of the flourishing industries include IT, training, healthcare, and oil and gas
- Leading employers include SABB, Mobily, SABIC, Saudi Electric Company, and STC
Make sure you get health insurance from your new Saudi employer
There is an increasing worldwide trend of governments implementing regulations in regards to making expat health insurance compulsory. Saudi Arabia is one of the latest places to follow this trend. They require all firms to provide expatriates and their families with expat medical insurance. The Health Insurance Council in the country has recently revealed that companies who fail to do this will actually be denied recruitment visas as a consequence.
Abdullah bin Ibrahim Al-Sharif, the security-general of the Health Insurance Council, has stated that the regulations regarding expat health insurance are evident and have been made clear for all employers. Therefore, if employers decide not to pay for such insurance they will face penalties as a result. They will have to pay a fine for each worker they have not provided insurance for, as well as all of the instalments in one go. If that was not enough, recruitment visas may also be denied. This means that the company loses its right to recruit foreign employees. This can be either on a temporary or permanent basis.
Every dependent must be insured otherwise the registration of the head of the expatriate family would be suspended by the Passport Department. In fact, the kingdom has developed a successful system for transferring data between insurance businesses and the related departments in order to catch out those companies absent of any insurance. This system links together the Alam Co. for Information Security, the National Information Centre, and the Passport Department.
Saudi Arabia is not the first country to implement strict rules in regards to expat medical insurance and it is predicted that a lot of other destinations will follow suit. If you are moving to Saudi Arabia, it is vital to make sure that your employer provides this. Firstly, it is critical for your health and the health of your family. Not only this, but if your employer was not to provide the insurance, and they were to suffer penalties, it could actually have a negative impact on the business and your employment, and so it is best to make sure everything is above board from the offset.
As you can see, there is a lot to love about Saudi Arabia, and so it is not hard to see why so many people are moving here in order to progress their careers. However, if you do move here in order to work for yourself or to set up a business, you do need to take the correct provisions to protect your health.