Saudi Arabia’s own ‘Silicon Valley’, Cloud Computing Special Economic Zone, is a zone that encompasses companies providing cloud computing services, in which business and commerce laws differ from the base economy
Digital companies investing in the Kingdom can benefit from a highly skilled workforce as well as large end users from across public sector and an eager public that are proven early adopters of new technology.
The Zone has a unique flexible model that allows Cloud Service Providers to provide various cloud computing services from the zone, with the ability to build and operate data centers from all over the Kingdom.
Location:
Cloud Computing Special Economic Zone, is located in the Innovation Tower at King Abdulaziz City for Science and Technology (KACST) in Riyadh as a virtual Special Economic Zone.
Focus Sectors
- Cloud Computing Services
Benefit from an innovative hybrid zone:
The Cloud Computing SEZ enables investors to establish data centers and cloud computing infrastructure within the Kingdom.
While the Cloud Computing SEZ will have supportive and operative offices in King Abdulaziz City for Science and Technology (KACST), investment and establishment can occur anywhere within the Kingdom. Investors can seize the opportunities in international communication services and data centers and access the latest communication and hosting technologies.
Investing in the Cloud Computing SEZ provides access to unparalleled economic incentives to drive the success of your business
Access unique incentives that are available to companies establishing within the Cloud Computing SEZ:
- Special tax treatment in line with OECD principle that avoids double taxation and accommodates CSPs operating model
- Expat levy ensuring fees exemption for employees and their families in the zone
- Affordable network connectivity and electricity prices. Electricity available at a competitive rate of 0.05 USD/kWh for businesses
- Flexibility to provide cloud computing services from the zone, with the ability to build and operate data centers from all over the kingdom.
OBJECTIVES:
- Stimulate investment in the sector
- Increase FDI (Foreign Direct Investment)
- Contribute to GDP
- Create distinctive jobs
- Enhance cloud offering and increase utilization locally
- Attract global investments
Features of the Cloud Computing Special Economic Zone:
- A fixable module that allows the provision of different cloud computing services
- Builds and operates data centers around the Kingdom
- Provide tax treatments, legislative, administrative, and regulatory incentive
To get more information about investment conditions in the free zones of Saudi Arabia, please contact Soha Asia Follow Up Services consultants.