Residency Visa through Investment
Investment immigration is where a foreign individual invests a set amount of money into the country that he wishes to gain a permanent residency visa in. The residency visa is granted on approval of the individual’s investment plan, and will enable the applicant to live and conduct business in that country, along with his dependants. Generally, most jurisdictions provide the opportunity for the investor to sponsor his family to reside with him. Each jurisdiction has different requirements to be met in order to qualify for a residency visa through investment.
Saudi Arabia is a highly sought after location for many foreign investors seeking permanent residency, as it is strategically situated for international business relations and boasts a strong economy and solid legal infrastructure. Saudi Arabia is a hospitable country welcoming foreign investors and workers, particularly within the oil, banking, IT and telecommunications sectors. Saudi nationals take their religion very seriously, so it is important that foreign individuals seeking residency acknowledge and respect the laws and cultures of the country. Saudi Arabia has several international English speaking schools that offer a high level of education, and there are many British health care workers in private health centers. Saudi Arabia has a bespoke tax regime attractive to many outside investors; it has a strong and stable political infrastructure and offers a high standard of living to its residents – in particular, to those of high net worth caliber.
Saudi Arabia actively promotes and welcomes foreign investment for the purpose of immigration. The targeted individuals are generally high net worth individuals, skilled professionals and those with expertise in particular fields.
The Foreign Investment Law as laid down by the Saudi Arabia Council of Ministers aims to assist foreign applicants who seek a residency visa, by offering a range of benefits and a non-complex application process. The Saudi Arabia immigration department established the General Investment Commission as a means to provide set rules with regards to investment licenses and permits to individuals seeking investment immigration.
Relevant documents required for investment immigration to Saudi Arabia are:
Saudi Arabia offers a Business Visa to business persons, investors and professionals alike, who are seeking a permit to visit Saudi Arabia on a business only basis. Under this program, investors are required to have a sponsor from an acknowledged Saudi Arabia business. This sponsorship must be demonstrated by form of an invitation letter, certified by the Ministry of Foreign Affairs and the Saudi Chamber of Commerce.