Thursday, June 8, 2023
Saudi Arabia introduces a new Business Visit Visa for "Investing Visitor" electronically
Saudi Arabia has introduced an electronic business visitor visa called a "visiting investor." The new visa service, which the Ministry of Foreign Affairs and the Ministry of Investment jointly announced, intends to make it easier for foreign investors to visit Saudi Arabia and directly explore the country's investment opportunities in the Kingdom. Most Viewed : All GCC resident expats can now get Saudi Arabia tourist visa
The Unified National Platform for visas, which has simpler and easier computerized procedures, is the way to apply for a business visit visa (Visiting Investor Visa), according to the Ministry of Foreign Affairs.
- The investor's visa will be immediately issued when the application has been processed and send it to the investor through email, according to the ministry. See Also : Saudi Arabia now offers 3-months temporary work visa
- Investors who are nationals of various nations will benefit from this service in the first phase, according to the ministry. In the next phase, citizens of other nations all over the world will be allowed to use the visa service.
- The ministry highlighted that the new visa service helps in meeting the goals of the Saudi Vision 2030, which calls for the Kingdom to be a leading investment power with attractive competitiveness.
- As part of the Vision 2030 strategy to diversify the economy away from oil, Saudi Arabia has shown a significant interest in speeding the procedure for investors and foreign businesses wishing to expand their portfolios within the Kingdom. Recommend : Saudi Arabia now switches to e-Visa for these 7 countries
- According to the Saudi Central Bank, generally known as SAMA, foreign investments in Saudi Arabia increased by 2% in the Year 2022 to SR2.4 trillion ($640 billion), up from SR2.36 trillion in the Year 2021.
- As part of the Vision 2030 strategy to diversify the economy away from oil, Saudi Arabia has shown a significant interest in speeding the procedure for investors and foreign businesses wishing to expand their portfolios within the Kingdom. Recommend : Saudi Arabia now switches to e-Visa for these 7 countries
- According to the Saudi Central Bank, generally known as SAMA, foreign investments in Saudi Arabia increased by 2% in the Year 2022 to SR2.4 trillion ($640 billion), up from SR2.36 trillion in the Year 2021.
- The SAMA report states that, a total of SR1.01 trillion in foreign direct investments made up 42% of all inflows of foreign funds into the Kingdom.
- The industrial sector in the Kingdom is one of many that has seen a sizable flood of foreign investments, which account for 37% of the overall funding for the sector. Follow Saudi Expatriates on Google News
