SAUDI ARABIA

Instant establishment visas for nascent firms

March 02, 2020
Minister of Human Resources and Social Development Ahmed Al-Rajhi launched instant establishment visa service for the newly established businesses through its qiwa portal.
Minister of Human Resources and Social Development Ahmed Al-Rajhi launched instant establishment visa service for the newly established businesses through its qiwa portal.

Saudi Gazette report

RIYADH — Minister of Human Resources and Social Development Ahmed Al-Rajhi launched instant establishment visa service for the newly established businesses through its qiwa portal (www.qiwa.sa).

Under the new system, nascent firms will be provided with instant labor visas and will be given one-year grace period for the implementation of Nitaqat Saudization program so as to ease their operation in initial stages.

Nasser Al-Hazani, spokesman of the ministry, said that the new service aims at providing everything that supports the growth and flourishing of businesses in accordance with specific requirements and criteria for obtaining these visas, without the need for paper work or visiting any of the ministry’s branches.

This service has been introduced to cover the needs of all types of establishments after extensive studies of their need for expatriate workers, indicating that this procedure will have a positive impact on the growing percentage of Saudization during the coming years.

The new types of visas depend on granting an initial grace period for new businesses to achieve them sustainability and stability, with facilitating smooth flow of their functioning during the establishment period.

These visas will be issued to establishments that were founded over the last six months, and the visa allotment will be in accordance with the types of their commercial activities. For the first category of establishments, the minimum number of visas will be issued instantly.

For the second and third types of categories, a medium number of visas will be granted and this will be after furnishing details about the location and activity of the establishments so as to verify the information supplied.

The fourth category will be provided with the maximum number of visas and a representative of the ministry will be sent to verify the establishment’s location and activity before issuing visas.

Al-Rajhi said this service will provide an opportunity for young Saudis to start their commercial projects with providing them with all the facilities required so as to enable them to switch over from employees to productive employers in promoting development and growth of the national economy.


March 02, 2020
4815 views
HIGHLIGHTS
SAUDI ARABIA
27 minutes ago

SAMA cuts Repo and Reverse Repo rates by 25 basis points

SAUDI ARABIA
hour ago

GASTAT: Health status of 97.4% of Saudi population rated good or better

SAUDI ARABIA
2 hours ago

40 Ukrainian companies to invest in Saudi market