27 Nov, 2023
Saudi Arabia's Ministries of Investment and Foreign Affairs have unveiled the second phase of their Visiting Investor business e-visa program, now extending its reach to countries worldwide. Initially encompassing only 60 nations, this expansion aims to attract global investors and foster investment opportunities within the Kingdom.
This enhanced e-visa initiative grants multiple entries and boasts a validity of up to one year. Notably, certain beneficiaries gain immediate access, empowering them to explore firsthand investment prospects in Saudi Arabia. The Ministry of Investment emphasizes that this move aligns with its commitment to integrated investor services.
Under this updated scheme, eligibility extends to individuals listed on the Ministry of Investment's 'Invest Saudi' platform, as well as those holding valid tourist or commercial visas from the US, the UK, or any Schengen country, provided they have previously visited these nations.
Additionally, beneficiaries include individuals with permanent residency in the US, the UK, or European Union (EU) countries, those possessing a valid residency of at least three months in Gulf Cooperation Council (GCC) countries, and individuals licensed by the Ministry of Investment. These licensed individuals are entitled to three instant visas annually for each facility.
This service is a strategic step in Saudi Arabia's commitment to enhancing investment opportunities, in line with the ambitious Saudi Vision 2030. The objective is to attract global investors, foster a conducive investment climate, streamline business launches, and attract substantial investments that can significantly contribute to propelling the country's economy forward.
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