The New Saudi Investor Visa Program
Saudi Arabia has recently introduced its investor visa program, joining the ranks of countries worldwide offering such opportunities, also known as a golden visa. This program allows foreign investors to relocate to Saudi Arabia in 2024 by making a specific investment in the economy in exchange for a residence permit.
Enacted in 2019, the new law offers highly favorable conditions, including the ability for the main applicant to bring their family to Saudi Arabia.
If you are interested in obtaining a 2024 investor visa in Saudi Arabia, our immigration lawyers can provide detailed information about this new law and assess your eligibility for successful immigration.
All foreign workers in Saudi Arabia must hold a certificate attesting to their good health. Our immigration consultants can guide you on the necessary steps for moving here based on employment or if you plan to start your own business in the country. Feel free to reach out to us for assistance.
Documents Required to Obtain a Saudi Investor Visa
When applying for an investor visa, you must submit several documents. You can choose to submit documents in English or Arabic. If your original documents are in a language other than English, certified translations must accompany your application. We offer PRO services to assist with this.
Required documents include:
- Saudi Iqama number (if currently in Saudi Arabia)
- Recent bank statement reflecting financial status over the past year
- Proof of current address (e.g., utility bill)
- Photographs of you and family members relocating to Saudi Arabia (if applicable)
- Copies of passports for you and your family
- Copies of any previous Saudi Arabia visas in your passport
- Medical reports from an accredited healthcare facility for you and all dependents, verified by a Saudi diplomatic mission.
Employees should provide verified pay stubs from their employer. Investors must submit certified copies of the company’s registration documents and audited financial statements from the past two years.
If you are considering opening a company in Saudi Arabia or need assistance with retrieving financial statements, our accountants in Saudi Arabia are available to support you.
Financial Requirements for Qualifying for the Investor Visa in Saudi Arabia
Saudi Arabia, being one of the wealthiest countries globally, offers an attractive golden visa program with relatively lower investment thresholds compared to certain European destinations.
Here’s what you need to know to apply for a golden visa in Saudi Arabia in 2024:
- A renewable residence permit is obtainable with an investment of 100,000 SAR (approximately 27,000 USD).
- Permanent residency can be secured with a lump sum investment of 800,000 SAR (around 213,000 USD).
- Applicants must be at least 21 years old at the time of application.
- The application approval process typically takes around 30 days.
This program stands out as one of the most established relocation-by-investment initiatives developed by a Middle Eastern country.
If you plan to establish a company in Saudi Arabia, it’s essential to note that with this residence permit, you have the right to fully own a local enterprise. Our local specialists can assist you with comprehensive company registration, accounting, and audit services.
When preparing financial statements, we adhere to international standards such as IFRSs (International Financial Reporting Standards), GAAPs (Generally Accepted Accounting Principles), and other relevant financial reporting frameworks. Contact our accountants in Saudi Arabia for more details about our services in this area.
Frequently Asked Questions (FAQs) about the Saudi Investor Visa
The Saudi Investor Visa, also known as the Golden Visa, is a residency program that grants foreign investors a residence permit in Saudi Arabia in exchange for specific investments in the country’s economy.
There are two main investment options:
Temporary Residency: Requires a lower investment amount and offers a renewable residence permit.
Permanent Residency: Investors can obtain permanent residency by making a lump sum investment.
Any foreign investor who meets the age requirement (at least 21 years old) and meets the investment criteria can apply for the Saudi Investor Visa.
The approval of a Saudi Investor Visa application typically takes around 30 days, making it a relatively efficient program.
Yes, one of the benefits of the Saudi Investor Visa is that it allows investors to own real estate in designated areas of the country.
Yes, the investor visa enables individuals to establish startup companies with full ownership, provided they meet certain qualifications and present an innovative business plan.
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.
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