Saudi Arabia has introduced a new type of visa for foreign investors who want to explore the Kingdom’s flourishing investment landscape. The visa, called the “visitor investor” visa, is a joint initiative of the Ministry of Investment and the Ministry of Foreign Affairs.
The visa aims to facilitate foreign investors’ exploration of Saudi Arabia’s flourishing investment landscape, offering businessmen an opportunity to gain deeper insights into the investment environment in the country.
How To Apply For Visa
According to the official website of the embassy of the Kingdom of Saudi Arabia, these are the required documents:
· Original passport with a validity of six months, and at least two successive empty visa pages.
· To fill online application and make a visa payment, please logo on https://enjazit.com.sa/.
· Non-US citizens must purchase health insurance from the Kingdom of Saudi Arabia. Options for local health insurance providers will appear upon processing your Enjaz form.
· Following supporting documentation should be provided:
Electronic invitation letter from a Saudi company
Employment verification letter by the application’s US employer addressed to the Embassy of the Kingdom of Saudi Arabia in Washington, D.C. confirming the applicant’s position and citing “business” as the purpose of travel on behalf of the company.
Copy of the company’s business registration in Saudi Arabia and in the U.S.
Additional documents may be requested if needed.
For non-US citizens, a copy of green card or document confirming legal residence in the US.
The visa can also be applied for by:
Applying in person at the embassy of the Kingdom of Saudi Arabia
Via Mail to the Embassy’s address: 601 New Hampshire Avenue, NW, Washington, D.C., 20037.
Through the Embassy’s authorized travel agencies.
Why Visit Saudi Arabia As An Investor
Saudi Arabia is a country with immense potential for foreign investors. The kingdom has been undergoing a series of economic and social reforms under its Vision 2030 plan, which aims to diversify its economy away from oil dependence and create a more modern and dynamic society.
Some of the benefits of investing in Saudi Arabia include:
· A large and growing domestic market with a population of over 34 million and a GDP of $782 billion.
· A strategic location at the crossroads of Asia, Africa, and Europe, with access to major regional and global markets.
· A rich endowment of natural resources, including oil, gas, minerals, and renewable energy sources.
· A competitive business environment with low taxes, free trade zone, streamlined regulations, and strong legal protection.
· A skilled and diverse culture with a rich heritage and a modern lifestyle.
Saudi Arabia is also home to some of the world’s most ambitious mega-projects, such as NEOM, a futuristic city that will span three countries; Qiddia, an entertainment and leisure destination that will rival Disneyland; and The Red Sea Project, a luxury tourism development that will showcase the kingdom’s natural beauty.
What its new visitor investor visa, Saudi Arabia is opening its doors to foreign investors who want to discover the opportunity and advantages of doing business in the kingdom. The visa is expected to boost foreign direct investments into the country and contribute to its economic growth and diversification.