Will my bank account automatically be closed once my Iqama runs out?

unfortunately when your iqama will runs out your account will be closed automtically!!

Twonny,

The answer to your question is yes and no.

Legally speaking an expat may only operate his account while he has a valid Iqama, but my experience I that bank will still continue to offer its services after your Iqama expires ie if you are between two jobs.

Your idea of using a Saudi bank account to be used as an offshore tax free facility will definitely land you into trouble.

Funds transferred from and to Saudi Arabia are under close scrutiny following post 9/11 anti money laundering regulations.

https://www.expat.com/forum/viewtopic.php?id=376095

For the purpose you have in your mind I suggest you consider  channels Islands UK ( Isle of white, Isle of man).

twonny wrote:

Hey all!

Does anyone know if it is possible to keep the account open once I have left the country?

Thanks

Your bank account will be automatically frozen as soon as ur Iqama runs out !!

Your bank account will be automatically frozen as soon as ur Iqama runs out !!

Actually.... in order to leave the country for good, you've to get a 'Final Exit Visa'. And to get this permit, you need to close ALL your bank accounts.

TheLegendLeads wrote:

Actually.... in order to leave the country for good, you've to get a 'Final Exit Visa'. And to get this permit, you need to close ALL your bank accounts.

TLL - Good to see you after a long time

Its not necessary/mandatory to close all the bank accounts to get the final exit visa !

saimans wrote:

TheLegendLeads wrote:

Actually.... in order to leave the country for good, you've to get a 'Final Exit Visa'. And to get this permit, you need to close ALL your bank accounts.

TLL - Good to see you after a long time

Its not necessary/mandatory to close all the bank accounts to get the final exit visa !

Good to see you around buddy

hi.

you have a different job listed on your Iqama?
you don't pay taxes on your trades right?
you trade from home in Saudi?
is this legal to trade in Saudi and have a different job too?
where do you originate from?
can you take your tax free trading money back to your country at tax free?

thanks buddy. please advise.