Saudi Arabia
The ISO code of Saudi Arabia is SA according to the ISO 3166 standard. The local name of the country is Al Arabiyah as Suudiyah. Saudi Arabia capital city is Riyadh. People in Saudi Arabia speak the Arabic language. On 1 January 1919, Saudi Arabia emerged as a sovereign political entity. In the year 01/01/1919, Saudi Arabia emerged as a sovereign political entity. The largest city in Saudi Arabia is Riyadh.
Saudi Arabia is located in the UTC +03:00 time zone, which is also called Atlantic Standard Time or AST. The internet country code top-level domain (ccTLD) for Saudi Arabia is .sa. Other domains assigned to Saudi Arabia are السعودية.. The International dialing code for Saudi Arabia is 966. People in Saudi Arabia drive on the right side of the road. Total land area of Saudi Arabia is 2,149,690 km² (approx. 829,996 mi²). Saudi Arabia is not a landlocked country. It means that is is bordered by at least one major body of water.
Saudi Arabia is located in Asia. Saudi Arabia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Saudi Arabia faces various issues, including desertification, depletion of underground water resources, the lack of perennial rivers or permanent water bodies has prompted the development of extensive seawater desalination facilities, coastal pollution from oil spills.
Doing business in Saudi Arabia
We offer various corporate services in Saudi Arabia jurisdiction. These services can serve both, people coming from Saudi Arabia and foreigners. If you plan on doing business in Saudi Arabia you might be interested in contacting us.
To find out about starting your business in Saudi Arabia click on company formation in Saudi Arabia.
To find out how to open a bank account in Saudi Arabia and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Saudi Arabia.
Choose preferred service below or continue reading to find out more about Saudi Arabia.
Demographics of Saudi Arabia
The total population of Saudi Arabia is 33,554,343 people. In Saudi Arabia, the population density is 14 people per square kilometer (36 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Saudi Arabia is 0.18. Saudi Arabia has approximately 10185945 foreign immigrants. The median age is approximately 26.4 years. In Saudi Arabia, 54 in every 100 people use internet. Saudi Arabia has a Human Development Index (HDI) of 0.836.
The majority religion of Saudi Arabia is Islam, Saudi Arabia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Saudi Arabia.
Culture of Saudi Arabia
People in Saudi Arabia speak the Arabic language. According to data on inbound tourists in Saudi Arabia, 13,380,000 tourists arrive in the country each year. The first McDonalds in Saudi Arabia was opened on 8 December 1993, and it was located in Riyadh. One of the most popular national dishes of Saudi Arabia is kabsa. To read more click on culture of Saudi Arabia.
Geography of Saudi Arabia
Saudi Arabia is considered to be a vast nation because of its total area. Its total land area is 2,149,690 km² (approx. 829,996 mi²). Saudi Arabia is located in Asia. Its capital city is Riyadh. Saudi Arabia has 7 neighbouring countries. Its neighbours include Iraq, Jordan, Kuwait, Oman, Qatar, United Arab Emirates, and Yemen. Total length of land borders of Saudi Arabia is 4272 kilometers (~1,649 miles).
The highest point of Saudi Arabia is Jabal Sawda, with its official height being 3000 m (9,843 ft). Including land mass and EEZ, the total area of Saudi Arabia is approximately 2,378,323 km² (~918,271 mi²). The most notable natural resources found in Saudi Arabia are petroleum, natural gas, iron ore, gold, copper.To read more click on geography of Saudi Arabia.
Economy of Saudi Arabia
The currency of the country is Saudi riyal. The symbol used for this currency is ر.س, and it is abbreviated as SAR. 5.7% of population in the country are unemployed. The total number of unemployed people in Saudi Arabia is 1,912,598. Each year, Saudi Arabia exports around $376.3 billion and imports roughly $147 billion. Saudi Arabia has a Human Development Index (HDI) of 0.836.The Global Peace Index (GPI) for Saudi Arabia is 2.042. Saudi Arabia has a government debt of 12.9% of the country's Gross Domestic Product (GDP), as assessed in 2012. Saudi Arabia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are crude oil production, petroleum refining, basic petrochemicals, ammonia, industrial gases, sodium hydroxide (caustic soda), cement, fertilizer, plastics, metals, commercial ship repair, commercial aircraft repair, construction.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Saudi Arabia is $1,609,628 billion. Each year, consumers spend around $222,210 million. The ratio of consumer spending to GDP in Saudi Arabia is 0%, and the ratio of consumer spending to the world consumer market is 0.52. The corporate tax in Saudi Arabia is set at 0%. VAT in Saudi Arabia is 0%. To read more click on economy of Saudi Arabia.
Infrastructure of Saudi Arabia
Infrastructure quality in Saudi Arabia is rated to be at 3.34. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Saudi Arabia, 97.7% of the population has access to electricity. There are 145,941 internet hosts in Saudi Arabia. Saudi Arabia has 214 airports nationwide.
The logistics performance index of Saudi Arabia is 3.15. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 3.15. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Saudi Arabia is 22. To read more click on infrastructure of Saudi Arabia.
Politics of Saudi Arabia
Saudi Arabia, is a unitary islamic absolute monarchy. With regard to political and civil freedoms, Saudi Arabia is 3. Citizens in Saudi Arabia experience little to no civil liberties and political rights. Citizens are not free to express themselves and do not enjoy political freedom or a representative government. Countries with this political situation are dangerous for investment, as an authoritarian government may have outsize control over economic matters. The head of the government is Salman bin Abdulaziz.
According to the World Bank Group, the government effectiveness index of Saudi Arabia is 0.23. This indicates that the government of Saudi Arabia is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Saudi Arabia before considering any business maneuvers.In Saudi Arabia, the legislative power is vested in a Consultative Assembly. The Global Peace Index (GPI) for Saudi Arabia is 2.042. The strength of legal rights index for Saudi Arabia is 2. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. Saudi Arabia is a member of the United Nations (UN). On 24 October 1945, it joined the UN at it inception date as a full member state. Saudi Arabia is one of the original UN member states who founded the organization. Saudi Arabia is a member of the World Bank. To read more click on politics of Saudi Arabia.
Environment of Saudi Arabia
Saudi Arabia emits 18.1 metric tons per capita of CO2. 27000 km² of Saudi Arabia's territory is covered in forests. and forest land comprises 1% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Saudi Arabia is 22. To read more click on environment of Saudi Arabia.
Company formation in Saudi Arabia
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Saudi Arabia.
When establishing a company in Saudi Arabia, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Saudi Arabia that will affect the establishment and growth of one's business. Contact us or click on company formation in Saudi Arabia to read additional information when setting up a business.
Bank account opening in Saudi Arabia
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Saudi Arabia. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Saudi Arabia, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Saudi Arabia or contact us.