Saudi Arabia offers tax relief, easy visa process to attract global talent
The campaign highlights Saudi Arabia's push to diversify its economy under Vision 2030, reducing oil dependency.PHOTO: PIXABAY
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Saudi Arabia has unveiled a sweeping campaign to attract international businesses and top-tier professionals to its Special Economic Zones (SEZs), offering an array of incentives designed to transform the Kingdom into a regional investment powerhouse.
Led by the Economic Cities and Special Zones Authority (ECZA), the initiative includes tax and customs exemptions, simplified visa processes, and a relaxation of financial equivalence rules for foreign talent. The campaign is a joint effort with the Zakat, Tax and Customs Authority and the Ministry of Human Resources and Social Development.
'The partnerships we are building across government institutions are key to enabling a more competitive, investor-friendly environment,' said ECZA Secretary General Nabil Khojah. 'These new incentives are designed to improve operational efficiency, minimize regulatory friction, and make our Special Economic Zones among the most attractive destinations for investment in the region.'
The SEZs are positioned as dedicated hubs for industries such as logistics, advanced manufacturing, and technology, with the new incentives expected to significantly enhance their appeal.
The campaign will also bolster legal infrastructure, with the establishment of dedicated arbitration and reconciliation centres within the zones. These centres—developed in partnership with the Ministry of Justice and the Saudi Center for Commercial Arbitration—are intended to provide international-standard dispute resolution services.
Further regulatory collaboration with agencies like the Saudi Standards, Metrology and Quality Organization (SASO) and the Saudi Food and Drug Authority (SFDA) is aimed at easing market entry for goods and services and reducing bureaucratic hurdles.
A key component of the initiative is the expansion of ECZA's digital 'One-Stop-Shop' portal. This centralized platform links investors to all relevant government services, streamlining business licensing and operations. The portal also integrates real-time data-sharing capabilities to enhance transparency and efficiency in business processes.
The campaign underscores Saudi Arabia's continued push to diversify its economy under Vision 2030 and reduce its dependency on oil revenues by creating a robust, investor-driven ecosystem in strategic growth sectors.
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