Expat Health Insurance
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The amount they have offered you does seem to be within the range of salaries that an engineer can expect in Saudi Arabia.
Of course, how high your salary is also depends on individual factors such as the size of the company, your experience and the requirements of the job.
It is higher than the salary you are currently getting, and Saudi Arabia compares favourably with Taiwan when you compare the cost of living in each country. Have a look at our Cost of Living in Saudi Arabia page to see if the amount you would more or less make is adequate for the standard of life you are used to.
Good luck!