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Schengen Visa Applications in Saudi Arabia Grew by 23% in 2024

Visa applicants are seen at the Visa Center in Riyadh to complete their application procedures. (Asharq Al-Awsat)
Visa applicants are seen at the Visa Center in Riyadh to complete their application procedures. (Asharq Al-Awsat)
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Schengen Visa Applications in Saudi Arabia Grew by 23% in 2024

Visa applicants are seen at the Visa Center in Riyadh to complete their application procedures. (Asharq Al-Awsat)
Visa applicants are seen at the Visa Center in Riyadh to complete their application procedures. (Asharq Al-Awsat)

As travel and tourism continue to grow, despite the challenges faced by local, regional, and international businesses and projects, VFS Global has revealed that demand for Schengen visas in Saudi Arabia has increased significantly by 23% this year.

In an interview with Asharq Al-Awsat, Zubin Karkaria, founder and CEO of VFS Global, said that the company has managed the visa procedures for the Saudi Ministry of Tourism’s Trailblazers program, which works to send 100,000 students to Europe for training in the tourism and travel sectors.

He added: “Our strategy aims to provide long-term value to all stakeholders, including the Saudi government and its citizens, contributing to Saudi Arabia’s vision of creating a diverse and sustainable economy by applying some of our modern solutions to our operations in the Kingdom.”

Karkaria emphasized that Saudi Arabia is a key market for VFS Global’s business, noting that the company has expanded its presence and services in the Kingdom over the years through strategic partnerships to facilitate visa services for travelers. These partnerships include agreements with chambers of commerce, the Public Investment Fund (PIF), and Aramco.

He further stated: “VFS Global strictly adheres to service-level agreements with its government clients, managing non-judicial and administrative tasks related to visa applications, passports, and consular services.”

As international travel grows in emerging markets, there has been an increasing need for specialized services to meet the demands of governments and visa applicants globally. “This led us to develop an approach that benefits both parties, where we handle all administrative procedures necessary for visa processing,” Karkaria explained.

According to him, VFS Global enjoys a long-standing partnership with governments in the European Union, working closely with them in the countries where they operate to provide visa application services. He noted the ongoing rise in demand for international travel and visa issuance.

“The initial challenge during the COVID-19 pandemic, which directly impacted travel and related sectors, was dealing with the volatile business environment. We quickly recognized both the severity of the crisis and the opportunity to transform our operations to prepare our organization for the future,” he said.

He continued: “For instance, by April 2020, 3,196 of our 3,384 visa application centers worldwide were temporarily closed in response to the global crisis. However, within just seven months, we resumed operations at 1,600 centers, representing more than half of our global network, enabling us to serve over 50 government clients across 129 countries while implementing new health and safety measures to protect both staff and visa applicants.”

Karkaria said that over the past 23 years, the company played a critical role in helping its clients manage the rapid growth in visa demand in a cost-effective and highly secure manner.

He added: “We have also developed innovative solutions tailored to our government clients, such as LIDProTM, which allows them to process visa applications from multiple locations via a centralized electronic hub.” VFS Global is the trusted partner of 67 government clients and operates in 151 countries.

Karkaria stated that the company supports travel to the Kingdom by providing Saudi visa services since 2023.

“Through our partnership with the Saudi Visa and Travel Solutions company, we operate and manage Saudi visa service centers in 45 countries worldwide,” he told Asharq Al-Awsat.

He added: “We are committed to supporting Saudi Arabia’s ambitious plans to develop and grow tourism by expanding Saudi visa services in partnership with the Saudi Visa and Travel Solutions company. We are also in the process of appointing relationship managers for key government and private sector entities.”

Karkaria noted that Saudi Arabia has recently launched an educational visa to boost the education sector by supporting international institutions in establishing branches in the Kingdom and attracting international students to study and reside in the country.

In this context, VFS Global will help international institutions establish branches in Saudi Arabia and assist potential Saudi students in pursuing their careers at various international universities through professional guidance and recruitment services.

VFS Global established its visa application center operations in Saudi Arabia in 2005, providing visa and passport services on behalf of 31 governments through a network of 95 visa application centers.

The company operates in 14 locations across Saudi Arabia, including Riyadh, Jeddah, Khobar, Abha, Hail, Jubail, Makkah, Jazan, Qassim, Al-Kharj, Tabuk, Madinah, Najran, and Al-Jawf.

Karkaria stated, “We see tremendous potential in artificial intelligence to accelerate and improve visa application procedures. Our partnership with the Responsible AI Institute reflects our strong commitment to using this technology in a reliable and ethical manner, applying the highest security standards.”

“Most importantly, we are committed to using AI in accordance with the regulations and procedures implemented by the governments we work with. We are ready to help our government clients integrate AI into the visa application process,” he added.

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Business

Most Asian Stocks Advance as Attention Turns to Warsh Speech

Kevin Warsh's speech at Jackson Hole will be closely followed by investors hoping for some clues on the bank's rate plans. Brendan SMIALOWSKI / AFP/File
Kevin Warsh's speech at Jackson Hole will be closely followed by investors hoping for some clues on the bank's rate plans. Brendan SMIALOWSKI / AFP/File
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Most Asian Stocks Advance as Attention Turns to Warsh Speech

Kevin Warsh's speech at Jackson Hole will be closely followed by investors hoping for some clues on the bank's rate plans. Brendan SMIALOWSKI / AFP/File
Kevin Warsh's speech at Jackson Hole will be closely followed by investors hoping for some clues on the bank's rate plans. Brendan SMIALOWSKI / AFP/File

Asian stocks mostly rose Friday ahead of a closely watched speech by Federal Reserve boss Kevin Warsh that investors will be parsing for clues about the outlook for interest rates amid elevated inflation and no sign of an end to the Middle East crisis.

With the euphoria following Nvidia's blistering earnings report petering out, the attention is back on the economy as debate surrounds if or when the US central bank will tighten monetary policy, said AFP.

Last month's Fed meeting saw policymakers keep borrowing costs on hold but with three of them dissenting in favor of a hike, and while the latest figures showed inflation easing slightly it remains well above the two percent target.

Worries that price rises will remain elevated for some time -- fueled largely by a spike in energy costs caused by the Iran war -- have put upward pressure on long-term Treasury yields, making government borrowing increasingly expensive.

Traders are hoping Warsh's speech at the annual meeting of central bankers and economic leaders at Jackson Hole, Wyoming, will give them an insight into decision-makers' thinking.

However, his last major public appearance after the July meeting was widely panned as giving an ambiguous message, and analysts warn that his refusal to give forward guidance will likely mean investors are left disappointed.

Stephen Innes at Quintex Intel said the address -- Warsh's first since taking the helm at the Fed -- was "the most consequential central bank speech left this year", and comes almost three weeks before the next policy announcement.

"Recent data have reduced the immediate need for tighter policy, giving Warsh room to re-establish the Fed's inflation-fighting message without signaling imminent action," he wrote.

"The speech arrives against a difficult policy backdrop. Inflation remains above target for a sixth consecutive year, while Fed officials have begun debating whether tighter policy may still be required."

Asian equity markets were broadly higher in early trade, with tech firms struggling to extend Thursday's rally that came on the back of Nvidia's profit blowout and bumper forecast, which soothed worries over the AI boom.

Tokyo, Hong Kong, Shanghai, Sydney, Singapore, Jakarta and Taipei all rose, though Seoul retreated along with Wellington and Manila.

Wall Street had provided a positive lead, with all three main indexes rising, though the gains were based entirely on the tech sector, which was the only one of 11 to advance.

Oil prices edged down but remain in danger of spiking further as investors await a breakthrough in efforts to reopen the Strait of Hormuz to tanker and cargo traffic.

US officials have vowed further economic pressure to make Iran open the waterway -- through which about a fifth of world oil passes -- after six months of war, but attempts at a diplomatic solution remain elusive.

Business

Visa, Mastercard Launch International Card Payments in Syria after US Lifts Terrorism Designation

Visa and Mastercard credit cards are seen in this illustration taken February 3, 2026. REUTERS/Dado Ruvic/Illustration
Visa and Mastercard credit cards are seen in this illustration taken February 3, 2026. REUTERS/Dado Ruvic/Illustration
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Visa, Mastercard Launch International Card Payments in Syria after US Lifts Terrorism Designation

Visa and Mastercard credit cards are seen in this illustration taken February 3, 2026. REUTERS/Dado Ruvic/Illustration
Visa and Mastercard credit cards are seen in this illustration taken February 3, 2026. REUTERS/Dado Ruvic/Illustration

Visa and Mastercard carried out their first international card transactions in Syria on Wednesday, a major step in reconnecting the country with global payment networks days after Washington removed it from its state sponsors of terrorism list.

The near-simultaneous moves by two of the world's largest payment networks offer one of the clearest signs yet of Syria's accelerating reintegration into the global financial system after decades of sanctions and isolation.

Qatar's QNB Group said it and Mastercard had completed what it described as the world's first end-to-end international card payment in Syria, while Visa said separately it had tested its first live international transaction in the country with Lebanon-based Fransabank.

Syrian President Ahmed al-Sharaa took part in the Visa test, making a card payment at a restaurant in Damascus's historic Old City, according to a video published by Syria’s state-run Syrian Response. Central Bank Governor Mohammed Safwat Raslan was seated alongside him.

The transactions came just two days after the US formally removed Syria from its list of state sponsors of terrorism.

The designation, imposed in 1979, had remained a major deterrent to international banks and investors even after Washington dismantled its broader sanctions program against the country.

Washington terminated comprehensive sanctions on Syria in December last year while retaining targeted measures against former President Bashar al-Assad and his associates, rights abusers, drug traffickers, ISIS and al-Qaeda affiliates and Iranian proxies.

But Syria's continued designation as a state sponsor of terrorism carried restrictions on financial transactions and remained a source of legal and compliance risk for banks considering doing business there. The US formally removed Syria from the list on Monday.

Syrian Foreign Minister Asaad al-Shaibani told Reuters before the removal that Damascus hoped lifting what he called the "last obstacle" would reconnect Syria with the global financial and economic system and boost investment.

"There is no longer any obstacle to investment, doing business and rebuilding economic life in Syria," he said.

Sharaa's government has made restoring access to global finance and attracting foreign investment a central part of its economic strategy since rebels led by him toppled Assad in December 2024.

STEP TOWARDS WIDER ACCEPTANCE

Visa said it planned to enable international visitors to use their cards while in Syria, and described the test as a step towards wider international card acceptance in the country.

QNB said its system now allows Syrian merchants including hotels, restaurants and government entities to accept international Mastercard credit cards through its point-of-sale terminals. It will gradually add eligible merchants as part of a phased rollout, subject to regulatory approvals.

Visa's transaction was carried out in cooperation with Fransabank Lebanon as the acquiring financial institution and Paymera, a Syrian payments technology company owned by the state's sovereign fund.

Business

Saudi Arabia Closes Loophole in White Land Fees: Develop or Pay

Construction work at the Shams Al-Diyar project, part of the Housing Program in Riyadh (SPA).
Construction work at the Shams Al-Diyar project, part of the Housing Program in Riyadh (SPA).
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Saudi Arabia Closes Loophole in White Land Fees: Develop or Pay

Construction work at the Shams Al-Diyar project, part of the Housing Program in Riyadh (SPA).
Construction work at the Shams Al-Diyar project, part of the Housing Program in Riyadh (SPA).

Saudi Arabia is moving to make white land fees more closely tied to the actual behavior of landowners, closing one avenue through which ownership of land could previously be transferred before outstanding fees were settled. The new decision gives owners of fee-subject land clearer options: pay the fees, develop the land, or sell it after settling their obligations, strengthening the system's effectiveness in increasing supply and bringing undeveloped land onto the market.

The Saudi Cabinet approved this week a decision not to document any real estate transaction transferring ownership of land subject to the White Land and Vacant Real Estate Fees Law until payment of the fees due on the land has been verified.

Minister of Municipalities and Housing Majid Al Hogail said the Cabinet's approval to regulate the documentation of real estate transactions involving land subject to the fees, by verifying payment of outstanding amounts before documenting any ownership transfer, aims to safeguard the state's rights, encourage landowners to develop their properties and increase real estate supply, thereby improving market efficiency and supporting market balance.

Evolution of the Fees

White land fees in Saudi Arabia have gone through several stages aimed at meeting the country's development targets and injecting more supply into the local market. In 2015, the fees were approved at a fixed rate of 2.5 percent. This was followed by the modern billing system introduced this year, under which annual fees can reach as much as 10 percent of the land's value, in implementation of directives from Crown Prince and Prime Minister Mohammed bin Salman.

The decision puts landowners before a clearer equation: develop the land, pay the fees, or sell after settling their obligations, closing one avenue for avoiding the fees by transferring ownership.

The significance of the move extends beyond the procedural collection of outstanding amounts, as it seeks to influence landowners' behavior, raise the cost of holding undeveloped land, and push more of it toward development or sale.

The modern fee system has expanded to include both white land and vacant real estate, tightening the pressure on vacant properties in the Kingdom to develop them and offer them for rent or sale, increasing market activity and achieving the real estate balance targeted by the government.

Rising Cost of Land

Khaled Al-Mubayyed, CEO of real estate company Manasat, told Asharq Al-Awsat that the Cabinet's approval prevents land from being transferred to a new owner while outstanding fees remain unpaid, or attempts to shed the obligation through a change in ownership. As a result, the fees become effectively tied to the land and transactions involving it, preventing attempts to circumvent the system.

Al-Mubayyed said the measure strengthens the collection of government dues by linking documentation to payment, making collection more effective because a sale and transfer of ownership are among the key pressure points that are difficult to bypass.

The CEO of Manasat added that the significance of the Cabinet's approval lies in putting the owner before two options: either develop the land or pay the fees if they wish to retain or sell it. This increases the cost of keeping land undeveloped and strengthens the incentive to bring it onto the market.

Monitoring the Property's Status

Real estate specialist and developer Ahmed Omar Basoudan told Asharq Al-Awsat that the new measure eliminates attempts to circumvent or evade development or payment of the fees, increases supply, and curbs speculative behavior and land hoarding.

He added that holding undeveloped land has become costly, forcing some owners to sell or develop rather than wait for prices to rise. This could therefore expand the pool of land available for development, which is the primary objective of the fee system.

Basoudan said increased supply of developed land would help ease bottlenecks in the land market, particularly in cities with high demand, and could gradually affect land prices as well as development and housing costs.

He added that the decision comes amid the expansion of the system to include white land and vacant real estate, with implementing regulations allowing fees to be calculated and the status of properties monitored, while reinforcing collection procedures and preventing evasion.