ANNOUNCED AS TEMPORARYNo
Controls on commercial transactions and investment instruments
According to consistent press reports, the Capital Market Authority of Saudi Arabia will for the first time provide direct access to non-resident foreign investors in its local parallel equity market NOMU.
The Parallel Market is a local Saudi equity market that serves as an alternative platform primarily for small and medium-sized enterprises to go public.
The prior highlighted liberalisation will be effective as of 1 January 2018.
Nevertheless, in spite of the denoted, the following ownership limitations will still to apply for non-resident foreign investors:
It is relevant denoting that according to official sources, this measure is in line with Saudi Vision 2030 -- which is a plan to reduce Saudi Arabia's dependence on oil, diversify its economy, and develop local public service sectors.
⚑ Please report this page in case you detect an inaccuracy in its content.