Saudi Arabia - The General Investment Authority (SAGIA) has launched a digital licensing facility that will offer smoother, hassle-free and less time-consuming services to investors.
Ibrahim Alsuwail, deputy governor of investor services, said that the facility will help SAGIA deliver licenses directly into applicants’ registered mail boxes.
“The investor could receive the license electronically without having to visit working centers in the Kingdom, and this is part of our policy to enhance investment licenses,” Alsuwail said.
The digital license is recognized by all government entities and can be verified through SAGIA’s website or on smartphones that can read QR Codes. This service was upgraded to add more verification options.
Alsuwail noted that the data on the verification page are updated automatically, including updates and amendments on the licenses as well as the license copy in the system. At the moment, it is not possible to print a copy of the digital license directly, although it can be received at communication centers.
SAGIA has also reduced the time to issue a license from more than 2 working days to 4 hours. This was possible largely because of the reduction in the requirement for documents, as well as due to better training of staff members. Such initiatives are in line with Saudi Vision 2030, which also contribute to achieving the goals of the National Transformation Program (NTP) 2020.
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