Saudi Arabia is offering a slew of benefits to attract British lawyers. These perks include tax-free six-figure salaries and luxurious living conditions.
This effort is part of Crown Prince Mohammed bin Salman’s Vision 2030, which aims to transform the Kingdom’s economy.
Attractive Packages for Top Talent
Crown Prince Mohammed bin Salman is enticing British lawyers with luxurious benefits. These include free housing and private school fees for their children. This strategy aims to attract top talent to help realise the Crown Prince’s Vision 2030 economic transformation plan.
State-owned companies in Saudi Arabia, such as Saudi Aramco, offer attractive incentives. These include thousands of pounds in relocation allowances, private school fees for children studying abroad, and free MBA courses. Additionally, employees enjoy up to 48 days of paid leave and public holidays annually.
Opportunities in Neom and SPARK
Lawyers working on Neom, a $1.5 trillion (£1.2 trillion) futuristic desert city, get similar perks. Benefits include free accommodation, five-star catered meals, and monthly plane tickets. These are in addition to six-figure salaries and substantial tax-free bonuses.
The allure of Saudi Arabia’s offerings is drawing many ambitious British lawyers. A legal recruiter noted, “The types of opportunities that you will get in Saudi if you go there for the next five to 10 years will greatly exceed even being in Dubai.”
Saudi Arabia’s Recruitment Drive
In recent years, Saudi Arabia has intensified the recruitment of expat and local lawyers. This is part of Crown Prince bin Salman’s strategy to diversify the economy away from oil. The focus is on extensive infrastructure and energy projects.
UK law firms have established offices in Saudi Arabia following a series of legal reforms. However, some firms now struggle to recruit due to the state’s hiring spree.
One senior partner in the Middle East remarked that the perks offered by Saudi companies pose a significant challenge. Despite this, in-house lawyers typically earn less than their counterparts in private practice.
Impact on UK Law Firms
UK’s Magic Circle law firms, including Clifford Chance, Linklaters, and A&O Shearman, are capitalising on Saudi’s rapidly expanding economy. The recruitment drive has, however, sparked criticism from the LGBT community due to Saudi Arabia’s stringent anti-gay laws.
Despite these concerns, the Kingdom’s ambitious plans and generous packages continue to attract top legal talent from around the world.
Saudi Aramco’s Incentives
Saudi Aramco is responsible for the King Salman Energy Park (SPARK). This is an industrial city linking the Kingdom’s seaport, airport, and highways. The company provides thousands of pounds in relocation allowances, private school fees for children studying abroad, and free MBA courses.
Employees enjoy up to 48 days of paid leave and public holidays annually. Lawyers working on Neom receive similar perks, including six-figure salaries and substantial tax-free bonuses.
Crown Prince’s Vision 2030
The Crown Prince’s Vision 2030 aims to transform Saudi Arabia’s economy. The strategy includes attracting top talent from around the world. Luxurious benefits and high salaries are part of this broader plan.
The recruitment of British lawyers is a key component of this economic transformation plan. The extensive infrastructure and energy projects are central to diversifying the economy away from oil.
Saudi Arabia’s enticing packages and ambitious projects are drawing British lawyers in large numbers.
As opportunities in Dubai become more stagnant, Saudi Arabia’s megaprojects offer lucrative, career-defining roles. This marks a significant shift in the legal landscape, driven by Crown Prince Mohammed bin Salman’s Vision 2030.