Do you need an Investor visa? If so, this is great news. There are lots of things that you can do to get your investor visa in Saudi Arabia. You just need the right information. This guide will help you find what you’re after.
The Kingdom of Saudi Arabia (KSA) is currently granting the investor visas to select individuals who have solid backing. The country is not dead when it comes to investment opportunities and entrepreneurs can apply for multiple types of visas.
Saudi Arabia is one of the most visited countries in the world for a business or an investment prospect. With the increase of foreign investment in Saudi Arabia, the government had decided to allow some foreign nationals to reside here without having a work permit.
How To Get Investor Visa In Saudi Arabia
When many people think of the Kingdom of Saudi Arabia, their mind automatically goes to images of conservative Islamic dress and the infamous visa application process.
The Kingdom of Saudi Arabia is known as the birthplace of Islam and home to the Muslim holy cities of Mecca and Medina. The Arab country has an impressive history that is rich in culture and heritage, from the times which have inspired films such as Lawrence Of Arabia, to decades where it was an absolute monarchy but has now embraced modernization. Though its population has always been small, for the best part of a century, the kingdom attracted pilgrims from around the world thanks to its historical significance. It was not until recent decades that leisure travel really got off the ground in KSA, however – and now, it offers both business and tourism a myriad of unique attractions.
EB-5 Visa in Saudi Arabia
The EB-5 U.S. The Immigrant Investor Visa Program is available to Saudi Arabian citizens. There is a growing demand for the EB-5 Visa category among Saudi Arabian nationals. If you (or your child) were born in Saudi Arabia, then you can apply for the fast-track Green Card category for the United States through the EB 5 USA Investor Visa Program.
Targeted employment area – “TEA” is defined as:
– Rural areas
– Areas with unemployment 1.5x of the national average
Saudi Arabian Investor age requirement
There’s no age limit. The meaning of this simply is anyone qualifies to be an EB-5 investor. However, since a minor probably does not have the assets or income to be eligible as an EB-5 investor on his own, the parents or some other guardian giving him/her the investment amount requires showing the necessary documents to prove the source of funds. Occasionally, an investor pursuing an EB-5 visa will be unable to get specific documentation. In such instances, the applicant may file a declaration giving an explanation as to why they are unable to supply the needed documentation.
The only time age matters is if the parent is applying and children are also part of the application as derivatives. They must be under the age of 21 to be included in a parent’s application.
Income requirement
An investor must have the qualification to support a successful business investment. What is the financial criteria? See below to know:
- A net worth of US $1.05 million – For an individual or a married couple; or
- $200,000 or more in Individual Income, or $300,000 or more joint income, in each of the two previous years; and
- Comparable level of Future income and assets.
Source of Assets, plus any obligations or legal liabilities associated with these assets, play an important role in your EB-5 application. To prevent money laundering and resolve security issues, USCIS meticulously checks the source and course of the funds of an applicant. Ensuring the legitimate source and channel of their investment funds is crucial for EB-5 investors. They must present documentation that complies with USCIS’s strict requirements. In case the applicant isn’t able to provide certain documentation, he/she may submit a declaration and must explain why they are unable to provide the required documents.
In case you do not have enough investment funds, you might be wondering what can be a possible lawful alternative source of funds, right? Worry not for you may obtain funding from a variety of sources like salary, stocks, equities, and bank account deposits. Here are some of the other possible lawful funding sources:
Loans as a funding source for EB-5 investments
Typically, a financial institution provides a loan for an EB-5 investment. The loan’s collateral must be specified. In contrast to a previous regulation, USCIS now permits the use of a loan as a source of financing only if the investor is the primary lender. Additionally, the collateral must be worth at least as much as the loan amount. USCIS may issue a request for evidence (RFE) if the collateral value is close to the loan amount. EB-5 best practices advise the loan amount should not exceed 70% of the value of the collateral property.
Tax returns and other financial records
Corporate and individual tax returns should be filed in any jurisdiction within the last 5 years. When the tax returns of an applicant reveal a larger income in previous years, he or she should likewise provide tax returns for the 3 years with the highest income. Preferably, EB-5 tax planning must occur before filing and with the assistance of a professional.