Self Sponsor coming soon via investment in Saudi Arabia

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The Government of Saudi Arabia is looking towards the scheme to start a new program for those expatriates can Kafeel or sponsor themselves without the participation of any Saudi citizen as their Kafeel, If they invest in the financial scheme and pay a 20% of tax annually.
Investment for Self Sponsoring in Saudi Arabia
Investment for Self Sponsoring in Saudi Arabia

Approval of New Proposal

The new suggestion is under review of relevant authorities and not yet approved.
In this Proposal, the expatriates can invest their money and pay an annual tax to become self-sponsor or Kafeel. The expatriate will pay any of the two types tax.
Types of Tax In Saudi Arabia on Own Invest of Expatriates
Learn more about Saudi Arabia Green Card fee.

Regular Accounts Tax of Invest

The Regular Accounts type tax will be on regular accounts, in which expatriates will pay on income amount, costs amounts, and an increase of wealth.


Tax on Profit of Invest

This type of tax will pay on annual a financial gain or profit if there is no gain or profit there will be a clear defined percentage depending on profession
Up to now in Saudi Arabia, all the expatriates are running their business on the name of Kafeel or sponsor, Saudi Citizens and paying them annually a specific percentage of their profit.

How to become Self Sponsor الذات كفيل

According to the new proposal, each expat has permission to start businesses in their name and become self-sponsor(الذات كفيل) and will pay a specific percentage of tax to the government in has income.

First Commercial Cover-Ups

According to the new proposal in Saudi Arabia, the expatriates are Prevailing commercial activities, and commercial cover-ups account for 80% of KSA economy, which is about 300 Billion SAR. This one is a key factor behind unemployment of Saudi citizens.

second Commercial Cover-Ups

According to new proposal, Saudi Arabia allow 30 percent of expatriates are working for themselves under commercial cover-ups,
Saudi Authorities are trying to make changes for the labor market and allowing to expatriates to invest on defined rules, regulations and annual taxes.

Proposed Of Minister of Commerce and Invest

According to the Majed bin Abdullah Al Kassabi, the Minister of Commerce and Investment Proposed foreigners should be permitted to spend within defined Pay taxes and regulations.

Imposition of the Proposed

The Saudi Official authorities are now observing the implementation of tax which can be based either on expenses, profits and the statutory audit of income provided by the expatriates or on discretionary benefits in the absence of profits, such as 15% on the construction sector or 25% for the consultancy professions, the daily added.

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HowGear: Self Sponsor coming soon via investment in Saudi Arabia
Self Sponsor coming soon via investment in Saudi Arabia
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