The Ministry of Foreign Affairs (MOFA) in Saudi Arabia, in collaboration with the Ministry of Investment, announced the launch of the second phase of the ‘Visiting Investor’ visas on Monday. In its second phase, the authorities announced, the visa program has been opened up to ‘all countries.’ The conditions for the application have been updated to include more nationalities – given they have one of the mentioned documents. Eligible foreign investors can apply for a single or multiple-entry eVisa and also perform Umrah on this visa, except during the Hajj season.
Eligible individuals include:
- Individuals who have a valid tourist or commercial visa from the US, UK, or any Schengen country and who visited these countries at least once during the validity of the visa.
- Individuals who have permanent residency in the US, UK, or EU countries
- Those who have valid GCC residency visas for at least three months
- Investors licensed by the Ministry of Investment in Saudi Arabia(MISA), with 3 instant visas per year for each facility.
According to MISA, the visa is solely for exploring investment opportunities, and visitors must refrain from getting involved in paid or unpaid work. The Saudi Press Agency quoted the Ministry of Investment for Integrated Investor Services Undersecretary Mohammed Abahussain as saying, “The process will take place without any need to consult with the Kingdom’s representative offices abroad to obtain biometrics. The visa can be used for one year and allows multiple entries. Some people can obtain a visa immediately to visit the Kingdom and learn about investment opportunities.” Foreign Ministry Undersecretary for Consular Affairs Ambassador Ali bin Abdulrahman Al Yousef added that this service would work towards achieving the goals of the Kingdom’s Vision 2030, including increasing the number of visitors by issuing e-visas for all purposes, including the business visit visa, which is granted to investors and businessmen from all over the world. The first phase of the visa was introduced in June 2023.
The cost of the eVisa differs according to the duration and validity of the visa, and the type of medical insurance coverage. A 30-day single entry eVisa, with an insurance policy costing $6 (Dh22) can cost approximately $108 (Dh396) – this includes the visa fee, online application fee, and medical insurance fee.
