Saudi Arabia: Saudization Requirements Announced for Sales Professions in the Insurance Sector
December 22, 2023
Effective April 15, 2024, Saudi Arabia will implement Saudization requirements for sales professions in the insurance sector, requiring a certain percentage of workers to be Saudi nationals, according to an announcement made by the Insurance Authority. However, the government has not yet announced the specific job titles that will be affected or the Saudization rates. The Insurance Authority will oversee the implementation of the Saudization requirements, ensuring that employers reach the targeted localization percentage by the required dates. Affected employers in the insurance sector should be aware of the forthcoming requirements as non-compliant employers will be subject to penalties such as the suspension of work permit issuance or employment transfers.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
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