The Ministry of Investment (MISA) in Saudi Arabia has announced that investors holding diplomatic or special passports will be exempted from the payment of business visit visa fees. This initiative is part of the “Invest in Saudi Arabia” platform, affiliated with the ministry, aimed at facilitating foreign investors exploring investment opportunities in the Kingdom.
The “Visiting Investor” business visit visa service is an electronic platform enabling foreign investors to apply for a digital visit visa to explore potential investments in Saudi Arabia. Unlike traditional methods, the digital visa can be obtained instantly without the need for personal visits to Saudi embassies or consulates for biometric data procedures.
The exemption from visa fees is applicable only to investors without official diplomatic status. The platform emphasizes that the “Visiting Investor” visa should be used exclusively for commercial purposes and not for any other activities.
To qualify for the visa, investors must secure approved medical insurance within the Kingdom. This visa facilitates business visits, allowing entrepreneurs to explore diverse investment sectors, understand the Kingdom’s natural resources, and engage with counterparts such as foreign company owners, board members, managers, and representatives.
The terms and conditions for visa issuance include a requirement for the investor’s passport to be valid for at least six months. The duration of the visa and fees are determined based on bilateral agreements between Saudi Arabia and other countries. Investors must adhere to the intended purpose of their visit, follow Kingdom regulations, refrain from paid or unpaid work, and obtain a separate Hajj visa if planning to perform the pilgrimage.
It’s noteworthy that the Ministry of Foreign Affairs (MOFA), in collaboration with MISA, initiated the second phase of issuing electronic business visit visas on November 6. This phase extends the coverage to the rest of the world, expanding the reach of Saudi Arabia’s investment opportunities in 15 diverse economic sectors.
The move to exempt diplomatic passport holders from visa fees is expected to encourage more investors to explore and contribute to Saudi Arabia’s promising economic landscape.
