You are treated as a direct investor
Foreign residents holding a valid iqama have been able to open direct investment accounts with CMA-licensed brokers for years, alongside Saudi and GCC nationals. You do not need the Qualified Foreign Investor route or a swap agreement; you deal in your own name and hold shares in your own portfolio at Edaa.
What you need before you start
Most brokers now onboard fully in-app, verifying your identity through Absher or Nafath. Have these ready:
- A valid iqama with at least a few months left before expiry; some brokers refuse accounts expiring within 90 days
- A Saudi bank account and IBAN in your name, used for funding and withdrawals
- An active Absher or Nafath login for digital identity verification
- A Saudi mobile number registered to your iqama
- Employer and income details for the suitability questionnaire the CMA requires
Portfolio account vs cash account
Your broker opens two linked records: an investment (cash) account that holds riyals, and a portfolio at Edaa identified by a portfolio number that holds the shares. The portfolio belongs to you, not the broker, which is why transferring holdings to another firm is possible.
Bank-owned brokers (Al Rajhi Capital, SNB Capital, Riyad Capital and others) usually link the investment account directly to your current account at the parent bank, so funding is instant. Independent brokers such as Derayah rely on SARIE transfers that typically land the same day.
What happens when you leave the Kingdom
Your account does not automatically close when your iqama expires, but most brokers will restrict new orders until you update your status. Since the Main Market opened to non-residents, several firms let former residents convert to a non-resident account rather than liquidate. Ask about this before your final exit, not after.
Common questions
Next step
Sources
Editorial content for information only, not investment, legal or tax advice. Rules quoted are those published by the Saudi Exchange, the Capital Market Authority, Edaa and the brokers on the date shown; eligibility and fees change, so confirm current terms before acting.