Saudi Arabia wants to be the most innovative place on earth nowadays. Above all, it means that their newest projects are beyond what your imagination can create. You only have to witness the progress of The Line Project NEOM to confirm it.
In this article, you will learn more about NEOM City in Saudi Arabia. Most importantly, you can use it to learn how to start a foreign business in Saudi Arabia today. So, make yourself a part of this excellent project after discussing the following subjects:
- What is The Line Project NEOM?
- How NEOM City in Saudi Arabia is progressing today
- What should you do to start a business in Saudi Arabia?
- Where to find more information about how to start a foreign business in Saudi Arabia
1. What is The Line Project NEOM?
There are several places in Saudi Arabia where you can set up your legal services company or any other business. One of them can be this new project. The country is building a futuristic site to promote business, technology, and environmental safety in the region. Indeed, it is time you come and see The Line Project NEOM.
This USD 500 billion project involves several structures in a 26,500 sq. km area. Most importantly, Saudi authorities state that NEOM City in Saudi Arabia will generate over 100,000 jobs by 2030. Ergo, it will be the best hub for foreign investors.
On the other hand, it is worth mentioning that it is essential to know the project’s progress today. After all, you want to know the correct year to apply for your trade license in Saudi Arabia. Fortunately, our following topic reveals the state of the project today.
2. How NEOM City in Saudi Arabia is progressing today
Indeed, this project’s magnitude will make you want to start a foreign business in Saudi Arabia today. Nonetheless, the year of completion for The Line Project NEOM is 2030. So, you should assess how NEOM City in Saudi Arabia is progressing nowadays.
As of January 2023, several parts of The Line Project in Saudi Arabia are taking form. Therefore, you should know this information to decide when to get your Saudi driving license. Accordingly, we will show you the parts that are beginning to rise in the Kingdom:
2.1 TROGENA
Logically, you may think the desert is not a place to sky outdoors. But your understanding of it will change after you meet TROGENA. So, let us talk about this terrific part of The Line Project NEOM, whose works are underway.
TROGENA will be the outdoor skiing destination of The Line Project in Saudi Arabia. Most importantly, it will allow the Kingdom to host the 2029 Asian Winter Games. Therefore, consider it your best option for your winter sports branch opening.
2.2 OXAGON
Starting a business in Saudi Arabia may be challenging without a place to do it. Saudi authorities considered this an essential issue regarding The Line Project NEOM. As a result, they designed OXAGON, a futuristic industrial city.
As of 2023, work on OXAGON is taking its first steps, and it will be the largest floating industrial complex worldwide. Hence, you should see it as an excellent option to set up your accountant services firm in the future. After all, every company there will need bookkeeping assistance.
2.3 ENOWA
Lastly, we cannot finish this segment without mentioning the energy generator of NEOM City in Saudi Arabia. In other words, 2023 is the year of the launch of ENOWA, the home of sustainable energy and water systems. Let us see what it represents for The Line Project NEOM.
ENOWA will feature the largest green hydrogen plant in the world. In addition, it also involved a USD 175 million investment in Volocpter, the next generation of transports. Thus, you can consider it an excellent use of funds related to the withholding tax in Saudi Arabia.
3. What should you do to start a business in Saudi Arabia?
You just took the first step for starting a business in Saudi Arabia: to discover the newest mega project of the Kingdom. Now, you must choose an industry to make your investment and design your company. By all odds, it involves learning how to use E-invoicing in Saudi Arabia.
Finally, remember that local companies can help you when you start a foreign business in Saudi Arabia. After all, it can be a challenging process, especially if you come from abroad. However, we can ensure it will be the best decision of your life.
4. Where to find more information about how to start a foreign business in Saudi Arabia
The Line Project NEOM is only a part of what Saudi Arabia can offer you. Indeed, it can provide you with the means to allow you to reach success in no time. Hence, maybe it is time for you to learn how to start a foreign business in Saudi Arabia.
However, you could be a busy businessperson with an overbooked schedule. As a result, you may need some assistance to set up your business in NEOM City in Saudi Arabia. Fortunately, you can find that and more with us, Company Formation Saudi.
Let us help you become a part of The Line Project in Saudi Arabia. Feel free to contact us to discover how to start a business in Saudi Arabia. You can reach out to us via email at contact@companyformationsaudi.com or via phone at +971 43 316 688.
