RIYADH — Saudi Arabia has decided to exempt investors holding diplomatic or special passports from the payment of business visit visa fee, Asharq Al-Awsat newspaper reported quoting well-informed sources. There is a condition for this that such investors do not have official status as diplomats. The government also emphasized that the new visa service should not be misused for purposes other than commercial.

The Ministry of Foreign Affairs (MOFA), in collaboration with the Ministry of Investment (MISA), launched on Monday the second phase of issuing electronic business visit visas titled “Visiting Investor.” The second phase of the business visit visa will cover the rest of the countries of the world, not included in the earlier list.

After the launch of the second phase of business visa issuance, the MISA has started taking measures to reveal the exceptional investment opportunities offered by the Kingdom in 15 diverse and promising economic sectors.

According to the ministry sources, the passport 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, in addition to taking medical insurance approved in the Kingdom.

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.

The government stressed that 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.

The “Visiting Investor” visa enables businessmen to visit the Kingdom and explore the diverse and promising sectors, learn about its natural resources, and its geographical and cultural location between the three continents of the world.

The new visa service aims to provide the opportunity for investors and employees of foreign establishments to apply for an electronic visit visa, through the platform affiliated with the Ministry of Investment, “Invest in Saudi Arabia”, through which the application is processed and the visa is issued digitally from the unified national platform for visas affiliated with the Ministry of Foreign Affairs. The visa can be used for a period of up to one year and with multiple entry, and beneficiaries can obtain the visa immediately, for the purpose of visiting the Kingdom and reviewing investment opportunities.

This step aims to facilitate investor’s journey to learn about investment opportunities in Saudi Arabia, and also aims to achieve the goals of Saudi Vision 2030 for Saudi Arabia to be a leading investment force with attractive competitiveness. This visa aims to facilitate foreign investors’ exploration of the Kingdom’s flourishing investment landscape, offering businessmen an opportunity to gain deeper insights into the investment environment in the country.

Last June, the Ministry of Foreign Affairs, in cooperation with the Ministry of Investment, announced the launch of the first phase of the business visit visa for investors who are citizens of a number of countries in Europe, Asia, North America and Oceania.

© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).