Corporate Income Tax of 5% for a period of 20 years with the possibility of extension.
About Jazansez
His Royal Highness, Crown Prince and Prime Minister
Prince Mohammed bin Salman bin Abdulaziz Al Saud
May God protect him
"The special economic zones will open new prospects for development in the Kingdom, building on the competitive advantages of each region to support vital and promising sectors, including logistics, industrial, hi-tech, and other priority sectors. The newly established special economic zones are characterized by strategic locations in Riyadh, Jazan, Ras Al-Khair, and King Abdullah Economic City (KAEC) north of Jeddah."
Overview
Saudi Arabia has a strong economic foundation and possesses unique investment opportunities. The Kingdom is one of the world’s largest and most important economic powers, ranking 16th globally in terms of GDP and 1st in the Middle East and North Africa.
Saudi Arabia is also distinguished by the diversity of its natural resources and its strategic location on the main international trading routes connecting three continents.
The launch of the Kingdom’s special economic zones, including Jazan Special Economic Zone (Jazan SEZ), will enhance the Kingdom’s competitiveness, develop national capacities, and promote an industrial renaissance. The zones will contribute to the growth of the Saudi economy by attracting major investments that contribute to economic diversification with a focus on new sectors that offer promising opportunities and prospects.
Importance of the Special Economic Zone
The Jazan SEZ is one of the first economic zones launched in the Kingdom of Saudi Arabia positioned as the gateway of the southern region connecting to world markets. It is a key project in reaching the goals of Vision 2030 in terms economic growth and job creation.
Strategic Goals
Jazan SEZ is one of the first special economic zones in Saudi Arabia to enjoy special legislative systems and regulations for economic activities that will make it one of the most competitive in the world. Attractive to high-quality investments, it will provide substantial opportunities for local economic development, job creation and knowledge and technology transfer. The establishment of industries will also open-up broad areas for developing the Saudi business communities.
The establishment of industries will also open-up broad areas for developing the Saudi business communities. The Jazan Special Economic Zone integrates with the base economy and provides fertile ground for achieving the objectives of sectoral strategies that serve Vision 2030 and will allow Saudi companies to benefit from the value they add at all levels of supply chains in their target sectors.
Supervising body:Royal Commission for Jubail and Yanbu.
Location:Within Jazan City for Primary and Downstream Industries.
Incentives
Free transfer without fees of money and profits.
Import and Export Tax Exemptions.
VAT at 0%.
Capital and profits transfer without tax deduction.
Long-term contractual land lease for up to 50 years.
Exemptions of labour levy for workers and their direct family.
Land Lease starting from 4.5 SAR per square meter per year.