Who Can Apply to the Regulatory Sandbox?

Effective from Apr 19 2025 - Apr 18 2025
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Regulatory Sandbox applicants can fall into one of the following four categories:
i.	SAMA-licensed Innovators: Examples under this category include Banks, Payments, Remittance Centers, Insurance Groups, and Lending Companies.
ii.	Non-licensed local FinTechs / start-ups: Non-licensed firms developing a new FinTech solution with an ambition to deploy it in the market. Access to the Sandbox can be obtained through one of the following options:
		•	Obtaining Regulatory Sandbox Permissions through a Letter of Acceptance.
		•	Partnering with a fully licensed firm: The party accountable to SAMA for the content of the application and execution of the testing will be the SAMA-licensed firm. SAMA will investigate the apportionment of responsibilities between the licensed and non-licensed firms.
iii.	Non-licensed international FinTechs: Non-licensed Innovators whom have already launched oversees or are seeking to make Saudi Arabia their first country of launch can utilize the Regulatory Sandbox to test their solution. Accessing the Sandbox can therefore be granted using two routes:
		•	Directly: Innovators can apply directly to the Regulatory Sandbox and upon acceptance; they register with the Ministry of Investment of Saudi Arabia (MISA) and the Ministry of Commerce (MoC) as part of the requirements to setup a legal entity within Saudi Arabia.
		•	Indirectly: Via partnership agreement between the overseas Innovator and a SAMA-licensed firm. In this case, the latter will be the applicant to the Sandbox and will remain responsible for the submission of the application and the testing.