Saudi Arabia’s Capital Market Authority (CMA) approved the full opening of the country’s capital market to all categories of foreign investors, allowing direct access to the Main Market from 1 February 2026.
The move enables non-resident investors to participate across all market segments.
Regulatory Changes Simplify Access
The CMA’s new framework removes the Qualified Foreign Investor (QFI) classification and abolishes swap agreements, which previously provided indirect exposure to listed securities.
Foreign investors can now invest directly in shares listed on the Main Market, aiming to broaden the investor base, boost inflows, and enhance market liquidity.
Foreign Investment on the Rise
International ownership in Saudi Arabia’s capital market exceeded SAR 590 billion by the end of Q3 2025, with Main Market holdings reaching approximately SAR 519 billion, up from SAR 498 billion at the end of 2024.
The CMA expects the latest reforms to attract additional foreign capital.
Building on Previous Reforms
The announcement follows July 2025 measures that simplified account-opening procedures for certain foreign investors, including GCC residents and individuals with prior residency in Saudi Arabia or the GCC.
These steps strengthened market confidence and laid the groundwork for full liberalisation.
A Phased Strategy for Global Positioning
The CMA’s reforms reflect a phased approach to market liberalisation, positioning Saudi Arabia’s capital market as a competitive regional and global investment destination and reinforcing the Kingdom’s ambition to attract diverse foreign capital flows.
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