Investors Holding Diplomatic or Special Passports Will Get Saudi Business Visa Fee Exemption
Investors holding diplomatic or special passports will be exempted from the payment of business visit visa fee, according to the Ministry of Investment (MISA).
The “Invest in Saudi Arabia” platform, affiliated with the ministry, clarified that the “Visiting Investor” business visit visa service is an electronic service that allows foreign investors to apply for a digital visit visa for the purpose of exploring investment opportunities in the Kingdom. The digital visa can be obtained instantly without the need to personally visit Saudi embassies or consulates abroad to complete biometric data procedures.
The platform revealed that only those investors who do not have official status as diplomats will obtain the visa fee exemption. It also clarified that the new visa service should not be misused for purposes other than commercial.
The platform outlined the terms and conditions for the issuance of this type of visa. The investors must obtain medical insurance approved in the Kingdom. The “Visiting Investor” visa enables businessmen to visit the Kingdom and explore the diverse and promising investment sectors, learn about its natural resources, and its geographical and cultural location. They can also discuss with counterparts in Saudi Arabia such as owners of foreign companies and institutions, chairmen and members of boards of directors, managers and representatives, after verifying their professional or commercial status.
According to the terms and conditions, passport of the investor must be valid for a period of no less than six months, taking into account the bilateral agreements concluded between the Kingdom and other countries regarding the validity of the passport, visa fees and duration.
It is also required that the investor shall adhere to the main purpose for which he applied and the regulations and instructions that are in force in the Kingdom. They should neither engage in paid or unpaid work, nor to perform the Hajj pilgrimage except after obtaining a Hajj visa. Investors who have obtained a visa should not perform Umrah during the Hajj season, and also to adhere to the permitted period of stay stated in the visa issued to them.
It is noteworthy that the Ministry of Foreign Affairs (MOFA), in collaboration with MISA, launched on Nov. 6 the second phase of issuing electronic business visit visas. The second phase of the business visit visa covered the rest of the countries of the world, not included in the earlier list.
After the launch of the second phase, the MISA has started taking measures to reveal the exceptional investment opportunities offered by the Kingdom in 15 diverse and promising economic sectors.
