Saudi Arabia Unveils Tax Incentives for Multinational Companies Moving Regional Headquarters to Riyadh
Saudi Arabia has introduced a new incentive program offering a 30-year income tax exemption to global firms that relocate their regional headquarters to Riyadh. This initiative, announced by the Investment Ministry in collaboration with the Finance Ministry and the Zakat, Tax, and Customs Authority, is designed to make the country a prime regional hub for businesses in the Middle East and North Africa.
Incentives include a 0% income tax rate and related tax benefits for approved activities from the date the regional headquarters license is issued. Investment Minister Khalid Al-Falih highlighted additional advantages such as relaxed Saudization rules and the ability to attract top talent. He noted that Saudi Arabia's strategic location and growth potential have already lured over 200 companies.
Finance Minister Mohammed Al-Jadaan believes the tax breaks will provide businesses with stability for strategic planning and opportunities to engage in the kingdom's development, including involvement in large-scale projects and upcoming events like the 2029 Asian Winter Games and the 2030 World Expo.