Saudi Arabia overview
Basic Facts
- Kingdom of Saudi Arabia (KSA)
- GCC (Gulf Cooperation Council) member country
- Saudi riyal (SAR) currency
- The world's largest oil exporter
- Competitive tax system
- Double taxation agreements with more than 50 countries
- Business friendly environment
- Advanced infrastructure
- Arabic and English speaking
Reasons for doing business in Saudi Arabia
TOP 3
No Personal Income tax
Mix of corporate income tax and zakat regarding Corporate income (Zakat is a mandatory charitable contribution in Islam, considered one of the Five Pillars of Islam)
Special Economic Zones and Economic cities with tax exemptions and incentives
More advantages
- In principle, non-Saudi investors are liable for income tax (20%), Saudi and GCC countries investors are subject to Zakat, an Islamic assessment
- Special Integrated Logistics Zone (SILBZ) in Riyadh is a special economic zone with 0% corporate income tax for ILBZ entities, with exemptions from withholding tax on certain payments to non-residents, for up to 50 years
- Several Economic Cities (ECs) with considerable incentives
- No controlled foreign company CFC rules
- No thin capitalisation rules
- No property taxes, except for White Land Tax for unexploited or undeveloped land
- No inheritance tax, no gift tax
- No wealth tax
Company formation in Saudi Arabia
Are you interested to start business or export to Saudi Arabia?
Do you want to establish a company in Saudi Arabia? Then to administer it?
Do you need a reliable lawyer or / and an accountant in Saudi Arabia?
Do you want to structure your international business in a correct way?
You do not know yet what do you actually need?
We are ready to help you find the right answers and workable solutions for you.
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