Requirements for foreigners open property accounts in Saudi

The Saudi Central Bank (SAMA) announced new regulations for opening bank accounts for non-residents interested in owning property in Saudi Arabia, aiming to facilitate real estate ownership rights. The amendments align with the regulations for non-Saudis owning property and include requirements such as providing a digital ID, a passport, a residential address, and a card linked to the digital ID. The rules also prohibit opening joint accounts, issuing payment or credit cards, and restrict account use solely to real estate transactions. These changes will take effect starting July 1, 2026.

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