Foreign nationals, including expatriates in the Gulf Cooperation Council (GCC) and former Saudi residents, may soon have the opportunity to invest in shares listed on the Tadawul market (TASI). This proposal is part of draft regulations published by the Capital Market Authority (CMA).

Who Can Invest?

According to the draft amendments, expatriates residing in GCC countries or those who have previously lived in Saudi Arabia or GCC nations can invest in shares listed on the main Tadawul market. This includes:

• Former residents of Saudi Arabia and GCC countries.

• Foreign nationals who open investment accounts before leaving the region.

Key Features of the Proposal

The CMA's proposed amendments to the Investment Accounts Instructions and other regulations include:

• Simplifying the process for opening and managing investment accounts.

• Ensuring customer protection for various types of clients of financial institutions.

• Allowing easier registration of investment accounts for GCC expatriates with valid passports.

Public Consultation

The CMA has invited feedback from interested parties and stakeholders through the Istithlaa platform. Public comments on the proposed regulations can be submitted until December 20, 2024.

Increased Opportunities for Foreign Investors

Under the new rules, expatriates may gain access to a broader range of investments, including:

• Main market shares.

• Debt market assets.

• Parallel market (Nomu) securities.

• Investment funds and derivatives.

Document Requirements

To open an investment account, expatriates will need:

• A valid passport for non-residents.

• Identity documents for GCC residents.