Saudi 2025 Investment Law: Foreign Investor Rules

Saudi Arabia's Investment Law took effect in February 2025, replacing the previous foreign-investment licensing system with a streamlined registration process managed by the Ministry of Investment of Saudi Arabia (MISA). Foreign investors must now register with MISA before carrying out any investment activity, and a separate MISA investment licence is generally no longer required.

Registration is submitted through MISA's electronic investor services, using the required investor, ownership, financial, and activity details. Once MISA confirms registration, the investor may obtain a commercial registration from the Ministry of Commerce along with any activity-specific permits from the competent authorities. MISA registration does not replace commercial registration, municipal licences, sector permits, professional licences, or immigration and employment requirements.

The law does not set a single universal registration fee. Instead, MISA determines the applicable fee after approval, and it must be paid within 15 business days of notification. No fixed public amount or universal validity period is established in the official materials.

Restricted and prohibited activities

Investment activities are classified as available, restricted, or prohibited under the excluded-activities list published by MISA. Activities on this list require prior MISA approval before investment begins, and any change affecting ownership in a restricted activity also needs prior approval. MISA refers restricted-activity applications to the competent authority for review, and approval is not guaranteed—conditions on ownership, licensing, capital, or operations may apply.

Currently identified prohibited or restricted areas include oil exploration, drilling, and production (except specified mining-related services); military-sector catering; security and detective services; tourist orientation and guidance for Hajj and Umrah religious tourism; recruitment offices; international commission-agent activities (CPC 621); midwifery, nursing, physical therapy, and specified quasi-doctoral services (CPC 93191); marine-animal fishing and hunting; and poison centres, blood banks, and quarantine services.

Foreign ownership remains permitted across many sectors, including full 100% ownership where the activity and licensing conditions allow. Investors should use MISA's electronic investor services and the Ministry of Commerce as the relevant official channels.

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