Nation to allow full foreign retail ownership – Saudi Arabia
The government of Saudi Arabia has announced plans to allow foreign entities to have 100% ownership of retail and wholesale business locally. Currently, foreign investors can hold a 75% stake in such local operations.
The move was announced by the Saudi Arabian General Investment Authority (SAGIA), and is part of a new push to attract investors to the economy. The body, however, noted that the changes are subject to as-yet undisclosed conditions.
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