As part of updating the foreign investment environment in the Kingdom of Saudi Arabia, the General Investment Authority issued new regulations for issuing and renewing investor visas or general manager visas, effective February 15, 2016, in order to enable and increase quality investments.
According to the Authority’s regulations, the investor is obligated to specify a maximum of 25% of foreign workers from all employees in foreign or mixed companies, provided that the establishment determines the division of their categories into 10% of managers and specialists and 15% of technicians and workers or vice versa.
The authority explained that individual entrepreneurs can obtain investment licenses and enjoy the profession of investor according to one of the following controls:
The establishment must be an establishment with an innovative activity and must have a valid patent, which is used in the establishment's products.
- The establishment must be one of the establishments that export their products, provided that the technical specifications of the product and its production method conform to the approved Saudi, Gulf or international specifications.
- The establishment must have an average classification and have no less than 50 employees.
- The establishment's capital must not be less than 37.5 million riyals.
The General Investment Authority confirmed that these controls have been applied to all related applications received by the Authority, and those who do not meet these controls and requirements must adjust their situation within a period not exceeding December 31, 2017.
