{"id":38302,"date":"2023-03-30T18:00:06","date_gmt":"2023-03-30T15:00:06","guid":{"rendered":"https:\/\/lovin.co\/riyadh\/en\/?p=38302"},"modified":"2023-10-25T12:12:21","modified_gmt":"2023-10-25T09:12:21","slug":"crucial-details-for-foreigners-owning-property-in-saudi-arabia","status":"publish","type":"post","link":"https:\/\/lovin.co\/riyadh\/en\/latest\/crucial-details-for-foreigners-owning-property-in-saudi-arabia\/","title":{"rendered":"Crucial Details for Foreigners Owning Property in Saudi Arabia"},"content":{"rendered":"

Crucial Details for Foreigners Owning Property in Saudi Arabia<\/span><\/p>\n

Saudi Arabia is currently working towards a new rule of allowing foreigners to own property in the Kingdom. CEO of the Real Estate General Authority, Abdullah Alhammad, stated that that this new law is under development and will allow foreign nationals to own property in all different cities of the Kingdom. However, before you start gathering your savings, make sure to take a look below at some important rules you should keep note of.<\/p>\n

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You can buy all different kinds of properties all around the Kingdom<\/h2>\n

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Crucial Details for Foreigners Owning Property in Saudi Arabia<\/span><\/h2>\n

Saudi is actually broadening the spectrum of which foreigners can choose from. What was before just limited to outside of Makkah and Medina and a single property, is now open to multiple investments all over the Kingdom. Foreigners can now purchase commercial, residential, and agricultural property in the Kingdom and two holy cities.<\/p>\n

Undeveloped plots get a 2.5 percent tax<\/h2>\n

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Since 2016, the Kingdom decided to capitalize on property development and therefore set a rule to tax undeveloped plots. If one was to buy a plot in the Kingdom, they are subject to pay a 2.5 per cent tax if left untouched.<\/p>\n

Make sure to consult professional lawyers before your investment<\/h2>\n
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To request legal advice, judicial, legal representation, and to the rest of the legal services, please contact us via the WhatsApp link to the office’s number: https:\/\/t.co\/5tVkkMgh7n<\/a><\/p>\n

\u2014 \u0627\u0644\u0631\u0645\u064a\u062d \u0645\u062d\u0627\u0645\u0648\u0646 \u0648\u0645\u0633\u062a\u0634\u0627\u0631\u0648\u0646 \u0642\u0627\u0646\u0648\u0646\u064a\u0648\u0646 (@Alromaihlawfirm) March 30, 2023<\/a><\/p>\n<\/blockquote>\n