Saudi Arabia Economic Zones
Tetra Consultants assists our international clients with the setting up of businesses in Saudi Arabia Economic Zones. In hopes of pulling overseas corporations to set up their industrial activities, the country has utilized 2 different types of Saudi Arabia Economic Zones.
Saudi Arabia economic zones are created in an effort to increase their competitiveness in the global realm and are intended to capitalize on Saudi Arabia’s location by highlighting its accessibility amongst the major cities in across the three global regions such as Europe, Asia and MENA. These economic cities offer special tax benefits for companies incorporated by multinational investors.
Contact us to find out more about how to register a company in Saudi Arabia Economic Zones. Our team of experts will revert within the next 24 hours.
Saudi Arabia Industrial Cities
- Saudi Arabia has 35 industrial cities to date, which is all under the care of the Saudi Industrial Property Authority (MODON).
- Cheap land lease which helps investors reduce operating costs.
- The ability to loan up to 75% of their capital, which companies can repay within a time span of 20 years, to reduce initial startup costs.
- Tax exemption for unprocessed materials and inventory.
- Examples of these Industrial Cities include Jubail, Yandu (which are all major hubs for oil and metal production).
Saudi Arabia Economic Cities
- There is a total of 4 economic cities launched by the Saudi government, with an aim to develop these cities as a prime location devoted to several specialized industries.
- In an effort to attract foreign investment, several tax Incentives are available, including:
- Lesser tax for workers’ income and upskilling
- Tax exemption on inventory and unprocessed materials
- More deductions for projects over 5 Saudi national staff and SAR$1 million capital
King Abdullah Economic City
- Size of city: 168 km square
- Anticipated growth: to provide 1 million new jobs and enough space for 2 million people
- Specialized industry includes: the involvement in port and logistics, light industry and financial services
- Highlight: it is developed by Emaar the Economic City
Prince Abdulaziz Bin Mousaed Economic City
- Size of city: 156 km square
- Anticipated growth: to provide half a million new jobs and enough space for 800,000 people to live there
- Specialized industry includes: the focus on logistics agribusiness, minerals and construction resources
Jazan Economic City
- Size of city: 113 km square
- Anticipated growth: to provide half a million new jobs and enough space for 300,000 people
- Specialized industry includes: the emphasis on energy and labor-intensive projects, as well as the agriculture and energy sector
- Highlight: Industrial park, which makes up two-thirds of the City
Knowledge Economic City
- Size of city: 4.8 km square
- Anticipated growth: to provide 20,000 new jobs and enough space for 200,000 people
- Specialized industry includes: knowledge-based industries, with an emphasis on Islamic education and services, as well as tourism
- Highlight: situated near the Holy Mosque of the Prophet in Medina