Global payments giant Visa has reorganised its Middle East operations into two hubs. Dubai will oversee UAE, Kuwait, and Qatar. Riyadh will manage Saudi Arabia, Bahrain, and Oman. This change comes after Saudi Arabia introduced a rule in 2024 mandating companies to establish local regional headquarters to qualify for government contracts. Visa's dual-hub strategy shows Riyadh’s rising role in Gulf business. The company did not relocate entirely to Saudi Arabia but balanced its presence between Dubai and Riyadh. Dubai remains vital for Visa’s UAE operations due to its strong business infrastructure and workforce. Saudi Arabia has seen over 700 multinational companies establish regional headquarters since the rule started, aiming to boost foreign investment and diversify its economy under Vision 2030. The HQ rule applies to firms wanting to bid on government contracts and take part in state programs. Other global banks like BNY Mellon, Goldman Sachs, and Citigroup have also set up regional HQs in Riyadh recently. This reflects a wider trend as Gulf states compete for business by offering tax breaks, infrastructure support, and regulatory moves. Saudi Arabia has also eased visa and labour policies to attract more skilled workers, including scrapping the Kafala sponsorship system in 2025 and working on a GCC unified visa. These changes make Riyadh an attractive hub for companies. Visa’s move highlights the importance for companies to adapt to local rules while keeping access to key markets. Maintaining a dual presence in Dubai and Riyadh lets firms comply with Saudi regulations without losing Dubai’s business advantages. As the Gulf’s corporate map shifts, companies must align their strategies with new policies and market needs. Visa’s reorganisation is a clear sign of the dynamic and changing economic environment in the Middle East.