ANNOUNCEMENT 26 Feb 2018
According to consistent press reports, the General Investment Authority of Saudi Arabia extended the licensing period for foreign investors.
NUMBER OF INTERVENTIONS
Saudi Gazette. English. Foreign investment license period extended up to 5 years renewable. 2018. http://saudigazette.com.sa/article/529293/BUSINESS/Foreign-investment-license-period-extended-up-to-5-years-renewable
UNCTAD. English. Extends foreign investment licensing period. 2018. http://investmentpolicyhub.unctad.org/IPM/MeasureDetails?id=3210&rgn=&grp=&t=&s=&pg=&c=&dt=&df=&isSearch=false
According to consistent reports, the General Authority of Saudi Arabia extended the licensing period for foreign investors -- i.e. it extended the period of the validity of the licenses that foreign investors must obtain prior to investing in the Saudi jurisdiction.
The licensing period for foreign investors was extended from one year up to five years.
Furthermore, as per the consistent press reports, the licensing period obtainable by foreign investors can be renewed after the five year period. Furthermore, even with this extension, foreign investors still are given the option of holding a one-year licence.
This liberalisation will be effective from 26 February 2018.