Saudi Arabian Investor Visa

Foreign individuals seeking to relocate to Saudi Arabia can pursue different visa and residence permit options, depending on their intended duration of stay. Among these options is the Golden Visa, also known as the Investor Visa in Saudi Arabia. This particular residency permit offers a host of advantages to eligible investors.

In the following sections, our Saudi Arabia-based company formation experts outline the key criteria for this program, and we offer comprehensive immigration-related services for those looking to move to Saudi Arabia.

The Saudi Arabia Investor Visa Program in 2023

In 2023, Saudi Arabia introduced a new investor visa program, similar to the popular "golden visa" programs found in other countries. This initiative allows foreign investors to relocate to Saudi Arabia by making a specific financial contribution to the country's economy, in exchange for a residency permit.

• The Origins of the Investor Visa Law

The foundation for this program was laid in 2019, and it offers attractive conditions to eligible individuals. Notably, the primary applicant is permitted to bring their family along when moving to Saudi Arabia.

• Comprehensive Information from Saudi Arabia Immigration Lawyers

For those interested in obtaining a 2023 investor visa for Saudi Arabia, our team of immigration lawyers in Saudi Arabia is well-equipped to provide detailed guidance and information regarding this new legislation. We are here to determine if you meet the eligibility criteria for a successful immigration process.

• Health Certification Requirement for Foreign Workers

Any foreign worker planning to work in Saudi Arabia is required to hold a health certificate verifying their good health. The immigration consultants can offer valuable insights and advice concerning health-related requirements when relocating for employment purposes.

• Starting Your Own Business in Saudi Arabia

If you aspire to establish your own business in Saudi Arabia, our services are readily available to assist you. Whether it's navigating through legal requirements, permits, or business registration, feel free to reach out to us for support and guidance.

Saudi Arabia's Golden Visa Program in 2023: Two Residency Choices

In the year 2023, Saudi Arabia introduces its Golden Visa Program, which distinguishes itself by offering prospective foreign investors two distinct residency options. These choices cater to various preferences and circumstances.

• Option One: Temporary Residency with a Lower Investment Requirement

The first option within the Saudi Golden Visa Program is tailored for those looking to secure temporary residency in Saudi Arabia with a relatively lower investment. This choice is ideal for individuals who seek a shorter-term commitment.

Applicants meeting the financial criteria can enjoy temporary residency, making it an attractive option for those who want to experience life in Saudi Arabia without the need for a substantial upfront investment.

• Option Two: Traditional Permanent Residency

The second option, in alignment with the more traditional approach, offers foreign investors the prospect of obtaining permanent residency in Saudi Arabia. This pathway is designed for individuals who aspire to establish long-term roots in the country.

Those who opt for traditional permanent residency will be making a significant investment, reflecting their commitment to residing in Saudi Arabia on a long-term basis.

Financial Eligibility for the Saudi Arabian Investor Visa

Saudi Arabia, renowned for its affluence, presents a captivating golden visa program that boasts notably lower investment requirements when compared to certain European alternatives. If you're considering securing a golden visa in Saudi Arabia in 2023, there are several crucial factors to understand:

• Renewable Residence Permit

In Saudi Arabia, a renewable residence permit can be obtained by making a financial investment. This option is particularly appealing for those seeking flexibility and the opportunity to experience life in Saudi Arabia without a significant upfront financial commitment.

• Permanent Residency

For individuals who aspire to attain permanent residency in Saudi Arabia, the program necessitates a lump sum investment. This choice reflects a more substantial and enduring commitment to living and investing in the country.

• Applicant Age Requirement

To be eligible for the Saudi Investor Visa, applicants must be at least 21 years old at the time of submitting their visa application. This age requirement ensures that applicants are of legal age and capable of making investment decisions.

• Timely Approval

The approval process for the Saudi Investor Visa is known for its efficiency, typically taking approximately 30 days. This swift processing sets it apart as one of the most expeditious investment-based relocation programs within the Middle East.

• Business Ownership Opportunity

A notable benefit of the Saudi Investor Visa is the right to fully own a local enterprise if you plan to establish a company in Saudi Arabia. This opportunity provides flexibility and control over your business endeavours in the country. Our local specialists are readily available to assist with comprehensive company registration, accounting, and audit services to ensure your business operates seamlessly.

• Financial Reporting Compliance

We prioritise international financial reporting standards, such as IFRS and GAAP, in our financial services in Saudi Arabia. Our skilled accountants offer expertise and support for your financial needs.

Additional Provisions within the 2019 Foreign Investment Act

Apart from the investor visa, the 2019 Foreign Investment Act offers foreign investors the chance to establish wholly-owned startup companies in Saudi Arabia, contingent on meeting the entrepreneur qualification.

• Qualifications and Innovative Business Planning

Becoming a company owner in Saudi Arabia through the investor visa program necessitates meeting specific qualifications and presenting a detailed business plan. The plan must showcase commitment to innovation, aiming to enrich the Saudi business landscape and foster economic growth.

• Aiming for a 70% Increase in Foreign-Owned Companies

The Saudi Foreign Investment Law aims to achieve a 70% growth in the number of foreign-owned companies in the country, promoting a diverse and robust economy. It fosters a welcoming environment for global business ventures, emphasising the government's commitment to attracting foreign investors.

• Support for Expanding Operations

Our team of Saudi company formation experts assists foreign companies in expanding their operations, offering guidance in legal requirements, registration, and compliance for successful market entry. We aim to facilitate growth and enhance business success in the dynamic Saudi market.

Advantages of the Saudi investor visa program

The Saudi investor visa program offers foreign investors residency privileges, allowing them to live, work, and fully own businesses in specific sectors, contributing to economic growth and a competitive business environment.

• Attractive Investment Options

The program offers a range of investment choices, including temporary residency with a lower investment requirement and the option for permanent residency. This flexibility allows investors to select the option that aligns best with their goals and financial capacity.

• Real Estate Ownership

Successful applicants can own real estate in designated areas of Saudi Arabia. This opportunity allows investors to build wealth through property appreciation and generate rental income.

• Fast Approval Process

With an approval timeline of around 30 days, the Saudi investor visa program is known for its efficiency, making it one of the fastest investment-based immigration programs in the Middle East.

• Business Ownership

The program permits investors to establish and fully own local businesses, which can contribute to the growth of the Saudi economy and provide business ownership opportunities in a thriving market.

• Opportunity for Innovation

To qualify as an entrepreneur for business ownership, individuals are encouraged to introduce innovative ideas or novel concepts in their chosen industry. This fosters economic growth and encourages foreign investors to bring fresh ideas to the Saudi market.

• Diverse Economy

Saudi Arabia boasts a diverse and dynamic economy, offering opportunities in various sectors such as technology, healthcare, tourism, and more. Investors can tap into this diversity to diversify their portfolios.

• Supportive Legal Framework

The government has implemented numerous reforms to simplify business registration processes and create a more investor-friendly environment. This contributes to a smoother and more straightforward experience for those seeking to invest in the country.

• Long-Term Residency

For investors aiming for permanent residency, the Saudi investor visa provides a pathway to establish a more permanent presence in the country, offering stability and security for them and their families.

Real Estate Ownership Opportunity through the 2023 Investor Visa

The 2023 Saudi investor visa program enables successful applicants to own real estate in designated areas, offering advantages such as capital appreciation, rental income, and a more permanent presence in the country.

• Expert Guidance on Real Estate Acquisition

Purchasing real estate in Saudi Arabia as a foreign investor can be intricate, necessitating expert guidance. Our team of immigration lawyers offers comprehensive assistance, providing insights into legal requirements and property market dynamics, supporting your real estate goals, whether for investment, a second home, or asset diversification.

Reasons for Relocating to Saudi Arabia

 Saudi Arabia, known as one of the wealthiest countries in the Middle East and the world, attracts foreign citizens for a multitude of reasons. While employment used to be the primary motivation before 2019, investment has emerged as a highly appealing option, as stated by the National Portal for Government Services.

• Business-Friendly Environment

Saudi Arabia holds a significant position in the World Bank's 2020 Doing Business Report, ranking 29th. This achievement is attributed to the country's implementation of 555 reforms aimed at streamlining the company registration process. The outcome has been a remarkable reduction in the incorporation procedure timeline, from 15 days to less than one day.

• Tourism Visa Challenges

Saudi Arabia's tourism sector is relatively small, resulting in limited tourist visa issuance. To obtain a visiting visa, one must be invited by an individual or organisation willing to serve as a sponsor, responsible for the visitor's stay. The sponsor's visa application includes the issuance of a serial number, and the visa stamp can be acquired at a Saudi embassy. Although the visa stamp cost is minimal, it's important to note that visitor visas can occasionally be converted into residency visas while the applicant is in the kingdom. However, alternative options, such as the investor visa, are often considered more practical.

• Explore Investor Visa Opportunities

If you are interested in immigrating to Saudi Arabia by applying for an investor visa and require assistance or guidance, please feel free to reach out to us. We are here to provide the support and information you need for your immigration journey to Saudi Arabia.

FAQS

What is the Saudi Investor Visa?

The Saudi Investor Visa, also known as the Golden Visa, is a residency program that allows foreign investors to obtain a residence permit in Saudi Arabia in exchange for making specific investments in the country's economy.

What are the investment options for the Saudi Investor Visa?

There are two main investment options for the Saudi Investor Visa:

- Temporary Residency: This option requires a lower investment amount and provides a renewable residence permit.

- Permanent Residency: Investors can obtain permanent residency by making a lump sum investment.

Who is eligible for the Saudi Investor Visa?

Any foreign investor who meets the age requirement (at least 21 years old) and fulfils the investment criteria can apply for the Saudi Investor Visa.

How long does the application process take?

The approval of a Saudi Investor Visa application typically takes around 30 days, making it a relatively efficient program.

Can I own real estate in Saudi Arabia with the investor visa?

Yes, one of the benefits of the Saudi Investor Visa is that it enables investors to own real estate in designated areas of the country.

Can I start a business in Saudi Arabia with the investor visa?

Yes, the investor visa also allows individuals to establish startup companies with full ownership, provided they meet certain qualifications and present an innovative business plan.

Are there any specific conditions for business ownership with the investor visa?

To own a business in Saudi Arabia under this visa, individuals must qualify as entrepreneurs and present a business plan demonstrating innovation or novelty in their chosen industry.