ASML Advocates for Skilled Migrants; DNB Highlights Tax Benefits from Expats; Saudi Arabia Welcomes Global Talent – Market Trends
The Netherlands
ASML CEO: “If we cannot get those people here (…) we will have to go there”
ASML, a leading microchip machinery manufacturer, may need to expand its operations outside the Netherlands due to potential stringent immigration policies, CEO Peter Wennink said.
Speaking on RTL Z’s Z360, Wennink highlighted the critical need for qualified personnel to sustain company growth, pointing that ASML might seek talent overseas if Dutch immigration limits obstruct recruitment.
This position is taken in the middle of a national discussion. Recent election winners advocate for reduced immigration, which could significantly impact companies reliant on skilled foreign workers.
“Ultimately, we can only grow this company if there are enough qualified people. We prefer to do that here, but if we cannot get those people here, we will get those people in Eastern Europe or in Asia or in the United States. Then we will have to go there”, he said during the interview.
With over 40% of its Dutch workforce being non-Dutch nationals, ASML’s concerns reflect broader industry fears that restrictive policies could reduce innovation and growth.
Despite these challenges, ASML reported a record turnover of €27.6 billion and a net profit increase to €7.8 billion last year, underscoring the company’s vital role in the tech sector and the potential risks of not addressing its staffing needs.
DNB President Focus on Expats’ Value and Fair Taxes
Klaas Knot, President of De Nederlandsche Bank, emphasizes the importance of making the Netherlands a hub for high-value economic activities and attracting skilled expatriates who contribute significantly to the tax base.
During a Buitenhof television program interview, Knot addressed the recent discussions surrounding the limitations on skilled foreign workers, cautioning against policies that could discourage high-value companies like ASML from operating in the Netherlands.
He highlighted the substantial tax contributions made by these knowledge workers, even under a slightly advantageous tax system, and stressed the need for the Dutch government to ensure the country remains appealing for such economically beneficial activities.
Knot advocated for a shift away from low-wage, fossil fuel-reliant sectors towards industries that boost both the economy and social good through significant tax contributions.
Saudi Arabia
Saudi Arabia Seeks Global Talent and Investment
Saudi Arabia’s Vision 2030 introduces a Premium Residency Program to diversify its oil-dependent economy by attracting global talent and investment.
Managed by the Saudi Premium Residency Centre (SPRC), the program offers residencies for healthcare, science, research professionals, cultural and sports talents, as well as investors and entrepreneurs, with eligibility based on salary or investment levels, leading to potential permanent residency.
This initiative promises expatriates career growth, a superior lifestyle, and financial gains, while supporting Saudi’s economic diversification, job creation, and sector stimulation, enhancing its position on the global stage.
Do you have questions about hiring international talent, payrolling, and recognized sponsorship? Feel free to contact our team, and we would be happy to discuss the limitless possibilities.
Nathalie Crivello
Client Solution Manager | MIM certified
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