200.2 Natural Persons Outside Saudi Arabia
200.2.1 Saudi Citizens Residing Outside Saudi Arabia
Saudi citizens residing outside Saudi Arabia for study, medical treatment or official work (such as in embassies, consulates, or multilateral organizations) may open bank accounts upon the following:
1. Providing a copy of the passport.
2. Providing a copy of the national ID.
3. Submitting a specimen signature.
4. Completing the account opening form or authorizing a Saudi citizen to open the bank account.
5. Obtaining verification of such documents from the Saudi embassy or consulate in the foreign country.
- Saudi individuals residing in a GCC country may provide such data via the correspondent GCC bank for the bank operating in Saudi Arabia.
200.2.2 GCC Nationals Not Residing in Saudi Arabia
Bank accounts may be opened for GCC nationals who are not residing in Saudi Arabia, directly by themselves or by a Saudi or GCC citizen authorized by a power of attorney. The bank should obtain the following documents from such individuals:
1. A copy of the valid national ID.
2. A copy of the valid passport (if any).
3. An employment letter from the entity for which he/she works, or from his/her personal business.
4. A completed account opening form.
5. A specimen signature.
- Such documents shall be obtained by the employees of the local bank directly or by the correspondent GCC bank in the GCC country where such individual resides. The GCC bank shall authenticate all documents obtained, and all deposit, withdrawal and transfer transactions shall be effected through the correspondent bank. Receiving such documents and effecting deposit, withdrawal and transfer transactions are also possible through a correspondent bank in the GCC country where the GCC citizen resides. No cash deposits by third party shall be accepted.
- No checkbook, ATM card or credit card may be given to such individual unless he/she comes to Saudi Arabia and presents to the bank adequate data proving his/her residence in Saudi Arabia. In this case, Rule (200.1.2) shall be applied to such customer, and his/her account status shall be changed.
200.2.3 Non-Saudi and Non-GCC Natural Persons Not Residing in Saudi Arabia
The bank shall not open an account in Saudi riyal or in any foreign currencies, or any other account, for non-Saudi and non-GCC natural persons not residing in Saudi Arabia unless written approval from the Ministry of Interior or the Ministry of Foreign Affairs is received through SAMA. If so, the account may be opened by the passport of the individual.