“New Life, New Ledger: Your Complete Guide To ACCA In Saudi Arabia!”
Are you planning to move to Saudi Arabia to start your ACCA journey? Moving to a new country for the sake of your academics can give you both exciting and anxious feelings. It is indeed a life-altering step, and one needs to analyze it from all angles and then come to a final decision. This blog will help you assess whether starting your journey with ACCA in Saudi Arabia is worth moving or not.
Looking at the current economic growth and transformative moves made by the Government under its Vision 2030 initiative, which includes essential reforms in tax, finance, and compliance, it is safe to say that doing ACCA in Saudi Arabia can be a strategic career move. The reforms in the areas of finance, tax, and compliance can create more job opportunities for ACCA members as they are valued in these professional areas. To get a deeper understanding of how things can turn out in your favor, read the blog ahead.
Job Markets For ACCA In Saudi Arabia:
There is a high demand for ACCA in Saudi Arabia; the Saudi job market for ACCA consists of employers from large corporations and MNEs looking for a skilled ACCA member with diverse knowledge about financial sectors and advanced technical skills. The sectors with high demand for ACCA professionals in Saudi Arabia include global accounting firms and financial institutions, the public sector, Oil and gas, and real estate, among others.
Doing ACCA efficiently and equipping yourself with the essential skills, wealth of knowledge, as well as practical experience can help you become a suitable candidate for diverse professional roles. Roles you can expect in Saudi Arabia’s Job Market as an ACCA affiliate or member are Financial Analyst, Finance Manager, Tax Consultant, auditor, CFO, etc.
Essential Skills in Demand:
As an aspirant of ACCA in Saudi Arabia, you are mostly equipped and well-trained with all the in-trend skills of the modern financial world. In case you are already a working professional, you can still progress further through CPD activities. Looking at the current economic and financial reforms for the future, it can be sensed that these sectors are becoming stronger, creating good job prospects for ACCA members. The most valued skills for the accounting and financial sectors include proficiency in IFRS knowledge, risk and return controls, Financial modeling and budgeting, and taxation.
Recognition of ACCA Qualification:
ACCA in Saudi Arabia is not recognized locally only but also opens the door to international career opportunities through the global recognition of the qualification. The qualification is well recognized, highly rewarded, and valued in more than 180 countries around the world; ideal for an aspirant aiming to expand their career globally.
Therefore, moving to Saudi Arabia for this global academic qualification enhances an individual’s worth in the practical world of finance.
Visa and Work Permits:
To move to Saudi Arabia for the ACCA qualification, aspirants need to first avail of visas and work permits, for which they can take several routes. These routes include Expat employment in Saudi Arabia, the visa for which is typically sponsored by an employer. In this kind of visa, the company you are associated with assists you in visa processing, Medical tests, and Iqama. Other than that, Family visas are also offered depending on your job level and income. Additionally, Student visas are also available for aspirants who want to build their careers in Saudi Arabia and add value to the economic or financial stability of the country.
Salary Expectations:
The salary packages for ACCA professionals are attractive all over the world; however, there is no accurate price offered to such professionals. It can vary completely depending on the employer, prior experience, skills, expertise, etc. Nonetheless, generally, ACCA part-qualified professionals in Saudi Arabia earn around SAR 6000- SAR 10,000, newly qualified can make nearly SAR 10,000- SAR 15,000, and experienced professionals of 3-5 years may earn something between SAR 15,000- SAR 25,000 or more monthly. Lastly, Senior and managerial level financial roles can make something near SAR 25,000- SAR 40,000 or more in a month.
Cost of Living:
Students who aim to do ACCA in Saudi Arabia and plan to move there for academic purposes usually ponder over the thought of how much is the cost of living in the country. Let’s dive in; the major cities like Riyadh, Dammam, and Jeddah have moderate living costs as well as standards and are kind of affordable. However, the rents are the biggest expense for aspirants as they can cost you around SAR 2,000- SAR 6,000+, depending on the condition of the house and the location. And in case you are planning to move in with your family, the cost of international schooling options can be quite a big expense for you.
Studying ACCA In Saudi Arabia:
Studying ACCA in Saudi Arabia has become much easier as students have enhanced, reliable ACCA study options. The online learning pathway has made the life of aspirants much easier, especially for those who prefer flexibility and are managing academics along with other professional/ personal commitments. Various online institutes are offering ACCA courses, and you can register with an ACCA-approved institute to accelerate your academic performance. One of the best examples of a reliable and effective online ACCA tuition provider in Saudi Arabia is Mirchawala’s Hub of Accountancy.
Conclusion:
Therefore, by analyzing all the facts and figures regarding ACCA in Saudi Arabia, it is safe to say that moving to Saudi Arabia for ACCA can help you create a successful career in the financial sector. If you are thinking of making this life-altering move, do not give it a second thought and start your journey now.
Frequently Asked Questions (FAQs)
Q1: Are there ACCA exam centers in Saudi Arabia?
Ans: Yes, centers for ACCA exams are available in Saudi Arabia in the cities of Riyadh, Jeddah, Khobar, etc. You can choose the exam center close to your location through the official website of ACCA Global while registering for that exam session.
