The Ministry of investment, in coordination with the Ministry of Finance and the Zakat, tax and Customs Authority, announced on Tuesday the provision of a new tax incentives package, for a period of 30 years, to support the program of attracting regional headquarters for international companies, in order to encourage and facilitate the procedures for international companies to open their regional headquarters in the kingdom of Saudi Arabia. The Saudi program to attract regional headquarters for international companies is a joint initiative between the Ministry of investment and the royal commission of Riyadh. The program aims to attract international companies to establish their regional headquarters in the kingdom of Saudi Arabia and make the kingdom the first choice for these companies, in the Middle East and North Africa, by providing them with a range of benefits and distinguished support services. The tax exemption package for regional headquarters for a period of 30 years includes a zero (0%) percent rate for both: income tax on regional headquarters entities, and withholding tax for activities approved for regional headquarters, and international companies will benefit from the tax exemption package from the date of issuance of the regional headquarters license. Commenting on this step, His Excellency the minister of investment, Eng.Khalid bin Abdulaziz Al-Falih, explained that granting tax incentives to the regional headquarters of international companies in the kingdom is an important incentive to make the kingdom of Saudi Arabia a major Center for those regional headquarters in the region, in addition to other advantages granted to these companies such as; flexible Saudization requirements, attracting executives and outstanding competencies to work at regional headquarters. His Excellency Engineer Khalid al-Falih pointed out that the economic stability of the kingdom, the presence of outstanding competencies and experiences, in addition to its strategic location and strong growth prospects, contributed to attracting more than 200 companies to the program, and many executives and those with outstanding professional competencies from around the world find in the Kingdom, compared to other places in the region and the world, an attractive and stimulating destination for them, supporting their progress in their careers. For his part, His Excellency the minister of Finance, Mr. Mohammed bin Abdullah Al-Jadaan, said: "The new tax exemptions granted on the activities of the regional headquarters will give the regional headquarters of international companies in the kingdom more visibility and stability, which enhances their capabilities for future planning related to expanding their business in the region, starting from the kingdom, while also participating in the development and transformation process that we are witnessing in the Kingdom, and we look forward to welcoming more international companies to participate in projects witnessed by all sectors, including giant projects, and our preparations to host major events such as the Asian Winter Games in 2029, the expo in 2030".