The Ministry of Foreign Affairs in Saudi Arabia has launched the second phase of its “Visiting Investor” scheme. The business visit visa scheme, which currently covers 60 countries, will now cover all countries in the world.
The e-visa offered allows multiple entries and is valid for up to one year. Certain beneficiaries may even be granted immediate access, allowing them to explore investment opportunities in the Kingdom first-hand, reports VisaGuide.World.
Such an initiative is a critical component of the Kingdom’s ongoing commitment to align with the Vision 2030 initiative, which prioritises improving the investment climate and streamlining the process of starting a business.
“Apply now for a #BusinessVisitVisa (Visitor Investor) to benefit from the exceptional investment opportunities offered by the Kingdom in various diverse and promising sectors, and to get to know the Kingdom with its strategic geographical location between the three continents of the world,” the Ministry of Investment (MISA) wrote on X, formerly Twitter.
In cooperation with the Ministry of Foreign Affairs, the Ministry of Investment has expanded the eligibility criteria for the instant e-visa to include individuals from countries listed on the Ministry’s Invest Saudi platform. However, it now extends to those with a valid tourist or business visa from the United States, United Kingdom or any Schengen country who have visited these countries at least once.
The initiative also benefits permanent residents of the US, UK or EU countries, as well as individuals with valid residency of at least three months in any GCC country. Those licensed by the Ministry of Investment are also eligible, with each entity entitled to three instant visas per year.
The move not only improves the investment climate in the Kingdom, but also streamlines the process of setting up new businesses and attracting substantial investments that will play an important role in boosting the economy.
In this regard, the Undersecretary of the Ministry of Investment for Integrated Investor Services, Mohammed Abahussain, pointed out that the “Visiting Investor” business visit visa is expected to attract foreign investors to apply for an e-visa through the Ministry of Investment’s affiliated platform, “Invest Saudi”.
The application will be processed through this platform and the Ministry of Foreign Affairs will issue the visa digitally, he said.
Last month, Saudi Arabia also expanded its e-tourist visa programme to include nationals from six additional countries, bringing the total number of eligible countries to 63. As a result, the Ministry of Tourism in Saudi Arabia said that the e-visa programme will now include citizens of Turkey, Thailand, Mauritius, Seychelles, Panama and Saint Kitts and Nevis.
