Saudi Visa Fees No Deterrent To Investors: Minister
Sumaira FH Published November 18, 2016 | 12:30 AM
RIYADH, (APP - UrduPoint / Pakistan Point News - 18th Nov, 2016 ) : New visa fees will not deter investment in Saudi Arabia, which is easing procedures for foreign business, the commerce minister said Thursday, countering concerns by foreign critics.
Majed al-Qasabi "confirms the charges for entry visas will not affect the flow of foreign investments to the kingdom, which seeks to attract quality investment," a statement issued to AFP by his spokesman said.
Investors and business people could now get multiple entry visas for up to two years, allowing them "to repeatedly enter the kingdom as required by their interests", the statement said. The previous maximum validity was one year.
A visa consultant earlier told AFP the one or two-year visas cost 5,000 and 8,000 Riyals ($1,333 and $2,133). Single-entry business visas are now priced at 2,000 riyals, several times higher than before, the consultant said.
Diplomats and other sources earlier told AFP the new fees, effective last month, risk deterring foreign investment needed to transform Saudi Arabia's oil-dependent economy. Diplomats said higher fees would be a particular disincentive for small and medium-sized enterprises.
The changes do not apply to the European Union or United States, while fees for British nationals have only slightly increased, the visa consultant said. Qasabi, the minister of commerce and investment, heads an executive committee to improve the kingdom's business environment.
He said plans by authorities to automate the granting of visas to foreign investors are in "their final stages". This would cut the time needed to issue the entry permits, he said.
Related Topics
Recent Stories
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
IBCC to promote educational excellence, expand regional presence
Pakistani 'Blue Helmets' serving UN Peacekeeping Mission in DR Congo set to leav ..
Putin says plans to visit China in May
More Stories From World
-
Slot 'confident' of Liverpool job as 'negotiations' take place
1 hour ago -
Google parent Alphabet's Q1 profits beat estimates: company
2 hours ago -
WADA asks 'independent prosecutor' to examine Chinese swimmers case
2 hours ago -
New York court overturns Harvey Weinstein sex crime conviction
2 hours ago -
Bagnaia and Spanish rivals chase victory at Jerez
3 hours ago -
Russian, Ukrainian strikes kill at least 10 in frontline regions
4 hours ago
-
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
4 hours ago -
Tourism must change, mayor says as Venice launches entry fee
4 hours ago -
Pakistani 'Blue Helmets' serving UN Peacekeeping Mission in DR Congo set to leave after 20 years of ..
5 hours ago -
Putin says plans to visit China in May
5 hours ago -
US reinstates open internet rules rescinded under Trump
5 hours ago -
Honda announces US$11 bn EV battery and vehicle plant in Canada
5 hours ago