In a recent decision, the Kingdom of Saudi Arabia has announced the exemption of investors holding diplomatic or special passports from the payment of business visit visa fees. The exemption comes with the condition that the investors do not hold official diplomatic status. Emphasizing the need for the new visa service to be utilized exclusively for commercial purposes, the government aims to streamline the process for potential investors.
In a joint effort between the Ministry of Foreign Affairs (MOFA) and the Ministry of Investment (MISA), the second phase of issuing electronic business visit visas, titled “Visiting Investor,” was launched on Monday. This phase extends the business visit visa coverage to countries not included in the initial list.
As outlined by ministry sources, applicants must possess a passport valid for a minimum of six months, adhering to the bilateral agreements between the Kingdom and other nations concerning passport validity, visa fees, and duration. Additionally, applicants are required to obtain approved medical insurance within the Kingdom.
Stringent regulations stipulate that investors must adhere to the designated purpose of their visit, in accordance with the prevailing regulations and instructions within the Kingdom. Engaging in paid or unpaid work, as well as undertaking the Hajj pilgrimage without obtaining a Hajj visa, is strictly prohibited for visa holders.
Notably, the government has underscored that those in possession of the “Visiting Investor” visa should refrain from performing Umrah during the Hajj season, while also strictly adhering to the stipulated period of stay indicated in the visa.
The “Visiting Investor” visa provides an avenue for businessmen to explore the Kingdom, gaining insights into its diverse economic sectors, natural resources, and its unique geographic and cultural position bridging three continents.
The introduction of this new visa service aims to streamline the application process for investors and foreign establishment employees, enabling them to apply for an electronic visit visa through the “Invest in Saudi Arabia” platform, affiliated with the Ministry of Investment. The visa issuance occurs digitally through the unified national platform for visas linked with the Ministry of Foreign Affairs. Offering a validity period of up to one year with multiple entries, the visa provides immediate access to the Kingdom, facilitating visits for the purpose of exploring potential investment opportunities.
This strategic step is aligned with the goals of Saudi Vision 2030, aiming to position Saudi Arabia as a leading investment force with enhanced competitiveness. By simplifying foreign investors’ exploration of the Kingdom’s thriving investment landscape, the visa seeks to provide a comprehensive understanding of the country’s dynamic investment environment.
The initiative follows the earlier launch of the first phase of the business visit visa last June, which catered to investors from various countries in Europe, Asia, North America, and Oceania, showcasing the Kingdom’s commitment to fostering international investment opportunities.
