8 Hrs
Source:
الشرق الأوسط
Portal for foreign property ownership
The executive regulations for the non-Saudi property ownership system have revealed a set of strict controls aimed at enhancing governance and financial security. It mandated the establishment of a unified electronic portal connected to the real estate registry and the use of approved digital payment methods by the Saudi Central Bank. Additionally, the regulations require non-resident individuals to obtain a Saudi ID and contact number, open a local bank account, and register businesses with the Ministry of Investment and with the National Center for Non-Profit Sector Development. They also stipulate the disclosure of owners and controlling parties, with an obligation to update information within 15 days.
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