Saudi Arabia's business boost: Tax exemptions, incentives to be availed
Saudi Arabia launched a campaign on April 17 to attract foreign talent to its Special Economic Zones (SEZs) through a range of incentives and tax exemptions.
According to a
The campaign includes tax and customs exemptions, streamlined visa issuance, and financial equivalence exemptions for foreign professionals.
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This initiative is being implemented in collaboration with the Economic Cities and Special Zones Authority (ECZA), the Zakat, Tax and Customs Authority, and the Ministry of Human Resources and Social Development.
Strategic partnerships
The campaign highlights ECZA's strategic partnerships with key Saudi government bodies to offer targeted incentives and regulatory benefits for investors in the Kingdom's SEZs. These collaborations reflect ECZA's commitment to creating a transparent and simplified regulatory environment that supports high-quality investments.
'We are working closely with various government entities to activate a suite of attractive investment incentives, such as tax exemptions and streamlined labor regulations, positioning SEZs as a competitive and promising destination for investors,' said ECZA Secretary General Nabil Khojah, emphasizing the importance of these partnerships.
Khojah also noted that the new measures are designed to enhance operational efficiency and reduce the regulatory burden for both new and existing investors.
Key collaborations
Among the key collaborations is an agreement with the Ministry of Justice and the Saudi Center for Commercial Arbitration to establish dedicated arbitration and reconciliation centers within SEZs. These centers will operate according to international best practices to enhance legal certainty and improve dispute resolution for businesses.
Streamlining compliance
ECZA has also partnered with the Saudi Standards, Metrology and Quality Organization (SASO) and the Saudi Food and Drug Authority (SFDA) to streamline compliance procedures and facilitate the entry of products and services into the Saudi market.
To support digital transformation, ECZA is enhancing integration across government platforms by activating data-sharing mechanisms and expanding its One-Stop-Shop portal. This platform connects investors with all relevant regulatory entities, expediting licensing and operational processes.
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