Grant Thornton and AstroLabs offer joint business setup and growth offering in Saudi market

Grant Thornton has announced a strategic collaboration with AstroLabs, aimed at helping foreign companies smoothen their expansion into the Saudi market.

AstroLabs is a well-known business expansion platform in the Gulf, supporting high-growth companies to set up, operate, and grow their presence in Saudi Arabia and the United Arab Emirates. Since its inception, the company has supported over 2,000 companies with setup and scaling, of which 600+ in Saudi Arabia.

Through the strategic alliance, the two companies will combine their respective capabilities to provide market entrants with a full-service offering, spanning entity setup, regulatory compliance, and operational support (AstroLabs) and professional services expertise around tax, audit, advisory, and local content services (Grant Thornton).

“Our end-to-end solution removes the complexity traditionally associated with establishing a business presence in Saudi Arabia. It offers international businesses a single, seamless framework from day one of market entry through to long-term growth,” stated Imad Adileh, Principal at Grant Thornton in Saudi Arabia.

Saudi market gaining international appetite

While there is no single official figure for how many companies are entering the Saudi market, the most widely used proxy – the number of foreign investment licences issued by the Saudi Ministry of Investment (MISA) – indicates that interest from international businesses is rising sharply. In 2023, around 8,500 licences were issued; by last year, that number had climbed to nearly 20,000.

According to Adileh, this trend is clearly visible in practice. In its work with global clients, Grant Thornton is seeing growing momentum among companies looking to establish a presence in the Kingdom. “Saudi Arabia is at an inflection point, and the appetite from international businesses to establish a meaningful presence here has never been greater,” he said.

Yet establishing operations in the Kingdom remains complex. Navigating Saudi Arabia’s regulatory landscape, local content requirements, and compliance obligations can pose significant challenges for businesses without established in-country infrastructure.

Through the new joint service, Grant Thornton is able to provide more comprehensive support. “We can now support clients across the full lifecycle of their Saudi journey – from initial setup and structuring through to sustained growth, compliance, and local integration. Together with AstroLabs, we believe we are setting a new standard for what professional-services-led market entry should look like,” Adileh said.

The offering from Grant Thornton and AstroLabs is primarily aimed at large corporations and upper mid-market companies.

Roland Daher, CEO of AstroLabs, added: “We are seeing more mature international companies enter Saudi Arabia with a clear long-term commitment. For these businesses, success is not just about setup, but about building the right foundations across compliance, operations, and advisory. Together with Grant Thornton, we look forward to delivering a more integrated experience for companies growing in the Kingdom.”