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Want to open a bank account but on a business visa


#1  2010-07-30 07:41:05

JD
Member
From: Jeddah
Registered: 2010-06-28
Posts: 10

Want to open a bank account but on a business visa

I am a consultant and my engagements bring me to Saudi Arabia often. At times I am here for three to four months at a stretch.

Can anyone guide me on how or where to open a bank account. I am on a business visa.

Thanks in advance for your help.

jd




 
 
 

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#2  2010-07-30 08:23:44

musicman
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musicman
From: Riyadh
Registered: 2009-08-05
Posts: 3080

Re: Want to open a bank account but on a business visa

I believe you need an IQAMA (resident Visa) to be able to open a banbk account unless your company/sponsor is able to convince the bank of the modus operandi of your contract with them.




 
 
 
 
 
 
 

musicman
The illiterate of the future will not be the person who cannot read. It will be the person who does not know how to learn.
[Alvin Toffler]
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#3  2010-07-31 15:46:57

WTENGEL
Active member
WTENGEL
From: Riyadh
Registered: 2009-11-19
Posts: 66

Re: Want to open a bank account but on a business visa

Second what Music says.

We had guys here doing 60 on and 30 off on business visas and they could not open bank accounts, drive a car, etc, etc. You do need an Iqama, unless there is a special circumstance I am not aware of.

Also, be advised, if you are here on a business visa, and you don't get paid by a Saudi company for you time or labor, you really have no recourse. Technically you are on a business visa, and not supposed to be taking up employment (for a Saudi company that is).

The guys I was speaking of earlier were being paid by a company out of Dubai, and coming here as "consultants" on a business visa, similar to what you are doing I am guessing.

Anyway, this is my understanding, unless there is some other excpetion I am not aware of...




 
 
 

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#4  2010-07-31 17:13:22

musicman
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musicman
From: Riyadh
Registered: 2009-08-05
Posts: 3080

Re: Want to open a bank account but on a business visa

Spot on WTENGEL. For those on Consultancy assignments here on short bterm basis my advice too is to have a watertight agreement on how one collects the fees in a manner thats comfy and acceptable to the consultant.

In my case I am on a Iqama and Resident here and I sign a consultancy agreement with my client whicb makes me more or less like a pseudo employee for the duration of the project with him. I also have the luxury of a bank account and my fees gets paid directly into it. All I could lose is one months retainer if the client defaults on his committment. I just pack up and find another client ASAP. In the interim my girls will always feed me since they are employed reasonably well.




 
 
 
 
 
 
 

musicman
The illiterate of the future will not be the person who cannot read. It will be the person who does not know how to learn.
[Alvin Toffler]
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