Saudi Arabia: Investor Visa Now Available
July 27, 2023
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At a Glance
- Effective immediately, foreign nationals from certain countries can now apply for the recently launched Business Visit Visa for investors in Saudi Arabia.
- This visa provides a specific entry route for visiting investors, where none was previously available in Saudi Arabia.
- Unlike the traditional Business Visit Visa, this visa does not require proof of a sponsor, opening the door to more entrants to Saudi Arabia.
The situation
Effective immediately, foreign nationals from certain countries can now apply for the recently launched Business Visit Visa for investors in Saudi Arabia.
A closer look
- Eligibility. Nationals of nearly 60 countries, including Australia, China, France Germany, Russia, South Korea, the United Kingdom and United States, are now able to apply for the Business Visit Visa for investors.
- Application method. Applications can be submitted through the electronic platform for Saudi visa applications. The visa is issued electronically (e-visa) to the applicant’s registered email address almost instantly after the application is complete.
- Validity period. Depending on the nationality and bilateral agreements signed by Saudi Arabia and each country, the visa varies in fee and can be issued for:
- Single-entry with a validity of 90 days; or
- Multiple-entry with a validity ranging between six months to five years, depending on nationality.
- Duration of each stay. Depending on the validity of the issued e-visa, the allowed duration of stay will vary between 14, 30, or 90 days (single-entry) and up to 90 days (multiple-entry). It is not clear if the allowable duration of stay is granted per entry, per year, or per validity period of the visa.
Impact
This visa provides a specific entry route for visiting investors, where none was previously available in Saudi Arabia.
Unlike the traditional Business Visit Visa, this visa does not require proof of a sponsor, opening the door to more entrants to Saudi Arabia.
Background
On June 8, 2023, the Ministry of Investment announced the launch of the Business Visit Visa option for foreign investors seeking to explore investment opportunities in Saudi Arabia. The visa then became available to certain nationals, with the expectation that it will be made available to citizens from other countries in later phases.
This visa is a subclass of the existing Business Visit Visa and aims to attract foreign investment into the country.
Looking ahead
Given that the Business Visit Visa for investors was recently launched, it is unclear if the application and approval processes will be streamlined equally for applicants of all nationalities and genders.
As compliance inspection actions have intensified in recent months in Saudi Arabia, it is important that foreign nationals choose a visa category that is appropriate for activities that will be conducted in Saudi Arabia.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
