Overseas investors looking for launching businesses in the Kingdom of Saudi Arabia will now be able to benefit from a faster and simpler application process with the launch of the new Fast Track Service by the Saudi Arabian General Investment Authority (SAGIA). This new application process guarantees application decisions within five working days, once SAGIA receives all required documentation. The new measures have been recently announced by SAGIA Governor and Chairman of its board Abdullatif Al-Othman following the Cabinet’s resolution No. 2 dated 09/04/2000, the foreign investment law issued by the Royal decree No M/1 dated 09/04/2000 and its executive regulations issued by SAGIA board’s decision No. 2/74 dated 13/03/2013. To be eligible to use the application, potential foreign investors shall be multinationals, listed in the capital market of their countries or in international stock exchanges, manufacturing products, SMSE, and World company and others.
Source : Saudi News Agency
