Government-Backed SME Bank Accounts: Who Qualifies and What You Get
Learn how freelance permit holders in Saudi Arabia can access business banking features without needing high minimum balances.
These bank accounts are designed to give small business owners and freelancers access to professional banking services tailored to their specific needs.
Who it's for
This scheme is available to individuals who hold a valid freelance permit.
What you get
You can access business banking features—often referred to locally as a حساب تجاري—without being required to maintain the high minimum balances typically demanded by standard commercial accounts.
What it costs you
There is no direct cost to access the scheme, but you must provide your official ID and your valid freelance permit to qualify.
The catch to know
Even though you have the required permits, many banks will still ask you to show a signed contract with a client before they will allow you to open the account.
How to apply
- Ensure your freelance permit is active and valid.
- Gather your official identification documents.
- Visit a bank to discuss opening a business account under this scheme.
- Be prepared to provide proof of client contracts if requested by the bank.