Recently major business executives have filed a petition to KSA government in order to remove requirement of Exit and re-entry visa system. It has been mentioned in request for waiver that it would be beneficial for business sector in KSA if the requirement of exit re-entry visa removes. People across the world with competent skills and huge investments are willing to be part of Saudi corporate sector, but this re-entry visa requirement creates hurdle in attracting them to invest their skills and money over here.
In case government waives requirement of this re-entry visa system, it would not only stabilize the economy of KSA but would also enhance standards of business culture in KSA. Business executive Irshad Cader mentioned it in Jeddah that those who have valid iqama should be treated as residents and should be provided with ease of freely moving inside and outside the Kingdom. Iqama holder should be allowed to re-enter the Kingdom until they have not stayed more than 6 months outside the Kingdom. This practice would not only encourage the talented and willing expats to enter and work in Kingdom for betterment of economy.
Another suggestion from one of the business men was that people with iqama should be issued five- year resident permits. In case once a permit is issued to a business man or professional he would be able to visit Kingdom off and on until a permit becomes expire. It will not only enhance the frequency of in and out visits of business men but would also submit a huge amount in lieu of permit issuance fee to government. It is estimated that in case SR 5000 is to be charged as permit fee per expat, total fee would go in billions as there are more than 10 million expats residing in KSA.
The permits will not only help in generation of huge amount for Saudi finance ministry but would also provide ease to expats to visit Kingdom during 5 years of permission without any further legal formality. The remittance level of expats will increase as been observed in first nine months of current year. He further mentioned that government needs to introduce such policies for attracting foreign rich and talented expats to give stability to economy of Kingdom. The business experts also suggest sponsorship policies for expats who are earning well in lieu of their salaries in Kingdom. By bringing their families in Kingdom they would feel relaxed and will stay inside the country for longer duration comparatively.