Effective Feb. 1, Saudi Arabia’s financial regulator, the Capital Market Authority, has removed the Qualified Foreign Investor regime that has been in place since 2015, when the country opened its equity market to direct foreign institutional investments.
This means foreign institutional investors no longer need a minimum AUM of $500 million to invest in the Saudi stock market. The result is that any foreign investor may directly buy Saudi-listed equities through licensed local intermediaries without QFI status.
According to Riyadh-based investment bank Sahm Capital, the change can unlock as much as $10 billion in new inflows in public markets, building on the 519 billion Saudi riyals (around €116 billion) already held by foreign investors as of Q3 2025.