Saudi Arabia Capital Markets Authority opens the Main Market to all foreign investors for direct investment from 1 February 2026

The Saudi Arabia Capital Markets Authority has approved a new regulatory framework that will allow all categories of non-resident foreign investors to invest directly in the Main Market from 1 February 2026, opening the capital market across all segments to direct foreign participation. The amendments expand the pool of investors eligible to participate in the Main Market by eliminating the Qualified Foreign Investor concept and related qualification requirements. They also remove the regulatory framework for swap agreements that had enabled non-resident foreign investors to obtain only economic benefits from listed securities, alongside broader updates to the Rules for Foreign Investment in Securities, Investment Accounts Instructions, instructions on issuing depositary receipts out of the Kingdom, the implementing regulation of the Companies Law for listed joint stock companies, and the CMA glossary. International investors’ ownership exceeded SAR 590 billion by the end of the third quarter of 2025, including around SAR 519 billion in the Main Market, compared with SAR 498 billion at the end of 2024. The decision follows a draft framework published for consultation in October 2025 and builds on July 2025 measures that simplified investment account opening and operation for certain foreign individuals resident in Gulf Cooperation Council countries, or previously resident in Saudi Arabia or another GCC country.