The Kingdom of Saudi Arabia (SA) under the guidance of the Crown Prince has just launched four new Special Economic Zones (SEZs) that come with an array of incentives to help grow your business which include the following:
- Reduced corporate income tax
- Withholding tax exemptions
- Relaxed regulations for foreign talent
- VAT exemptions based on sector/activity criteria
In addition, employees and their families within SEZs will be exempt from operational fees, and custom duties on goods entered to the SEZs will be deferred. The SEZs will also provide concierge services to foreign investors, making the investment process seamless and hassle-free. Here is a look at the government issued publication on the SEZ's.
This is a game-changer for the investment environment in Saudi Arabia, and we can't wait to see how it will revolutionize the market!
