Saudi Arabia’s government has launched the second phase of its electronic business visit visa program, referred to as “visiting investor” e-visas, as part of its broader strategy to attract foreign direct investment. This initiative aligns with Saudi Arabia’s Vision 2030, an economic transformation strategy aimed at diversifying the country’s economy, attracting global investors, improving the investment environment, and drawing substantial investments.
The “visiting investor” e-visa is designed to streamline the application process for foreign investors. Mohammed Abahussain, the Undersecretary for the Ministry of Investment, highlighted that this process eliminates the need for in-person consultations with Saudi representatives abroad to obtain biometrics. The e-visa, valid for one year with multiple entries, is intended to make Saudi Arabia more accessible to investors.
Moreover, the ministries have expanded the eligibility criteria for the instant e-visa to include individuals with valid tourist or commercial visas from the US, the UK, or any Schengen country who have previously visited these countries. Permanent residents in the US, the UK, or any EU country, as well as individuals with valid residency for at least three months in any GCC country, can also benefit from the e-visa offering.
Saudi Arabia’s Ministry of Tourism has concurrently expanded access to its electronic tourist visa program, including nationals from additional countries, to bolster tourism and economic diversification efforts. These developments demonstrate Saudi Arabia’s commitment to creating a more welcoming environment for foreign investors, talent, tourists, and visitors, aiming to strengthen its position in the global economy.
