Are you also looking for a lucrative and growth-friendly option for establishing your business in the Gulf region? Well, look no further and head to KSA to better explore your avenues of company formation in Saudi Arabia. Undoubtedly, this idea can be a rewarding endeavor owing to the following features of this Kingdom:
- Strategic location
- Booming economy
- Endless business opportunities
It should be noted that setting up a company in Saudi Arabia has swiftly become an ideal opportunity for numerous multinational entrepreneurs and investors. Moreover, Vision 2030, has further enabled the transformation of the kingdom’s economy and the diversification and growth of the private sector. Vision 2030 also entailed the establishment of various Special Economic Zones for free trading with other unparalleled perks like being 100% foreign-owned and setting up all business operations within the Kingdom.
The Free Trade Zones for Company Formation in Saudi Arabia
It should be noted that there are some important regulatory intricacies that need to be taken care of during the process of setting up a company in any of the free trade zones. Therefore, to become a part of the Kingdom’s mega-growth market, try to develop a thorough understanding of the five special economic zones of KSA. These include the following:
1- WEST: King Abdullah Economic City (KAEC)
Firstly, there is KAEC. It is positioned along the Red Sea that makes the African and the European markets much more accessible. Other key features include the following:
- Located in Makkah Province
- Size of 60 km²
- Find it in the heart of the Red Sea and accessible to the African Markets
Thriving corporate sectors include the following:
- Automobile assembling and supply
- Consumer Goods
- Pharmaceuticals
- Logistics
- MedTech
2- NORTHEAST: Ras Al Khair (RAK)
Secondly, you can also consider the option of company formation in Saudi Arabia in the northeast region. Here you find the free zone of Ras Al Khair. This zone particularly thrives on maritime industries and is a key player in contributing to the economic stability of the Kingdom. Some important key features include the following:
- Located in Eastern Province
- Size of 20 km²
- Find it in the Ras Al Khair Industrial City that significantly helps with accessing the global markets
Thriving corporate sectors include the following:
- Shipbuilding and MRO
- Rig platforms and MRO
3- SOUTHWEST: Jazan
Thirdly, we have the Jazan SEZ. It is known to be regarded as the free zone that will give a major push to a strong mining industry. Consequently, this will open avenues and markets of global construction, processed metals, and also minerals. Other relevant information regarding this free zone includes the following:
- Located in the Jazan Province
- Size of 24.6 km²
- Located in close proximity to the Red Sea which is ideal as it makes key mines and industrial assets more accessible
Flourishing corporate markets include:
- Food Processing
- Metal Conversion
- Logistics
4- CENTRAL: Riyadh Cloud Computing in King Abdul Aziz City for Science and Technology (KACST)
Following the JAZAN free zone, you can also consider your option of company formation in Saudi Arabia in the central region. Here you can find the Riyadh Cloud Computing in King Abdul Aziz City for Science and Technology (KACST). Some of its key information facts include the following:
- Located in the innovation tower at the King Abdul-Aziz City of Science and Technology
- Headquarters established in Riyadh with the potential to expand its setups all over the Kingdom
Focus corporate sector includes:
- Cloud Computing Services
5- CENTRAL: Special Integrated Logistics Zone
Last but not least, when you are in Riyadh, don’t miss out on the opportunity to check the Special Integrated Logistics Zone. It is also centrally located and is a popular option for company formation in Saudi Arabia. Some key facts for this zone are as follows:
- Located near the King Khalid International Airport
- Located in the Riyadh province
- Facilitated by Air Connectivity
Moreover, the following corporate sectors might find it an ideal place to establish their setups:
- Consumer products
- Computer parts
- Pharmaceuticals
- Nutritional and medical supplies
- Aerospace spare parts
- Luxury goods, jewelry, and precious metals
Perks of a Free Trade Zone Company Formation in Saudi Arabia
Furthermore, in this blog, we also intend to explore some of the most amazing benefits of growing your business or free trade zones business setup in KSA. Over the past few years, entrepreneurs and investors have continued to want to set up their companies in the kingdom for the following reasons:
Strategic Location
The KSA acts as a bridge between Asia, Europe along Africa to facilitate trade and commerce activities.
Robust Economy
The Kingdom of Saudi Arabia, undeniably, is popular for its diverse and tough economy. Some thriving economic sectors include the following:
- Energy
- Petrochemicals
- Manufacturing
- Technology
Government Support
Next, ever since the governmental reforms, there has been a massive influx of foreign investments that also include Vision 2030. All these reforms supported by the government have significantly diversified the economy in a significant manner.
Tax Benefits
Finally, you should consider your option of a free trade zone for your company formation in Saudi Arabia as it offers very favorable tax incentives. This further includes being exempted from various specific economic zones.
Global Market Access
Last but not least, one can never undermine the importance of accessing the global market when in the corporate sector. Similarly, with a population of more than 35 million, the KSA is also regarded as one of the most reliable markets with a large and reliable customer base.
Conclusively, looking for a free trade zone for your company formation in Saudi Arabia? Well, your search ends here! Come to GCC Solutions today. Our professionally sound company formation consultants will guide you through the process and help you make the best possible decision. We look forward to hearing from you!
