In a significant move to attract global investments and boost its economy, Saudi Arabia’s Ministry of Foreign Affairs (MOFA), in cooperation with the Ministry of Investment, launched the second phase of the “Visiting Investor” business visit e-visa program.
The Saudi ‘Visiting Investor’ visa now extends to include countries worldwide. This initiative aligns with the Saudi Vision 2030 strategy which aims to propel the nation into a hub for international investors. Moreover, it seeks to improve the investment environment, facilitate business launches, and ultimately drive substantial economic growth.
Attracting global investment
Saudi Vision 2030 has set an ambitious agenda, with one of its primary goals being to attract global investors. The “Visiting Investor” visa is a significant stride in this direction, making it easier for foreign investors to explore opportunities in the Kingdom. Thus, the e-visa’s aim is to attract foreign investors by simplifying the application process. It provides investors with efficient issuance through the “Invest Saudi” platform.
The “Visiting Investor” e-visa process is marked by its simplicity and efficiency. Applicants can submit their visa requests through the “Invest Saudi” platform, which is affiliated with the Ministry of Investment. Following the submission, the Ministry of Foreign Affairs will digitally issue the visa. This eliminates the need for complex biometric procedures or consultations with the Kingdom’s representative offices abroad. The e-visa is valid for one year and allows for multiple entries, enabling investors to explore the investment landscape conveniently.
Expanding beneficiary categories
The Ministry of Investment, in cooperation with the Ministry of Foreign Affairs, has extended the reach of the “Visiting Investor” e-visa. It now encompasses a wider range of individuals like Investors and businessmen from countries listed on the “Invest Saudi” platform. Moreover, it includes those with valid tourist or commercial visas from the United States, the United Kingdom, or any Schengen country. Additionally, it is issued to individuals with permanent residency in the U.S., the U.K., or European Union countries. Furthermore, those with valid residency in GCC countries for at least three months can also benefit from this visa. Finally, entities licensed by the Ministry of Investment are eligible for up to three instant visas per year.
Aligning with Vision 2030
Foreign Ministry undersecretary for Consular Affairs, Ambassador Ali bin Abdulrahman Al Yousef, highlighted the role of this new service in achieving the objectives of Saudi Vision 2030. Therefore, issuing this visa for business purposes will increase the number of visitors and investments. It will also foster a favorable environment for global investors and businessmen.
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