TL;DR
Foreign investors can buy Saudi Aramco stock directly through a CMA-licensed broker: since 1 February 2026 the CMA has opened the Main Market to all categories of foreign investors, and Qualified Foreign Investor (QFI) status is no longer required. GCC nationals already invest directly. An account typically opens in 10-20 business days. Foreign holdings are capped at 10% of an issuer per non-strategic foreign investor and 49% in aggregate. Tadawul trades on standard settlement (T+2). Total costs run 0.25% to 0.75% annually including brokerage, custody, and wire fees. Many GCC family offices use international brokers (Interactive Brokers, Saxo, Rakuten) that offer Tadawul access as part of their Gulf platform.
Who can open a Tadawul account and buy Saudi Aramco?
Since 1 February 2026 the Saudi regulator, the Capital Market Authority (CMA), has opened the Main Market to all categories of foreign investors, individual and institutional, resident and non-resident. The earlier Qualified Foreign Investor (QFI) regime, with its minimum asset and registration requirements, no longer applies. A foreign investor opens an account with a CMA-licensed broker, or an international platform with Tadawul access, completes standard know-your-customer checks, and trades directly. GCC nationals were already able to invest directly in Tadawul on the same footing as Saudi investors and do not need a foreign-investor route.
Most GCC family offices that hold Saudi equities use either a dedicated Saudi brokerage account or route orders through a global platform (Interactive Brokers, Saxo Bank) that holds licensed access to Tadawul.
What documentation is required to open the account?
Standard know-your-customer requirements apply. Expect to provide: valid passport, proof of current address (utility bill, bank statement), signed declaration of investment knowledge and risk acknowledgment, and proof of legitimate investment purpose (fund prospectus, family office mandate, letter from employer). Some brokers request a minimum opening balance (typically 10,000 to 50,000 SAR) and proof of funds source.
If the account is opened on behalf of a family office entity (Foundation, Trust, holding company), the broker will also request certified incorporation documents, register of directors or trustees, and signatory authority documentation.
How long does account opening take?
ESTIMATED 10-20 business days from completed application to first trade. The timeline covers CDD verification, broker internal review, and custody set-up. If any documentation is incomplete or requires clarification, the timeline extends another 5-10 days. Some brokers advertise faster processing; real-world experience shows 15 days is typical. Weekend and Saudi holiday closures can add another 2-3 days.
Can you trade Saudi Aramco on day one of the account?
No. The account must be settled and funded before trading. Once the account is approved, you transfer funds via international wire (SWIFT). The wire clears into the account (typically 2-3 business days). Only after funds are verified in the account can you place orders on Tadawul. In practice, the entire sequence from application to first executed trade is 15-25 days.
Are there position limits or ownership caps on Saudi Aramco for foreigners?
Yes. Under the CMA rules, a single non-strategic foreign investor may own no more than 10% of the shares of any listed issuer, and aggregate foreign ownership in any listed issuer is capped at 49%. These limits apply to Saudi Aramco as to other Main Market issuers, and Tadawul publishes foreign ownership levels for each listed company. Because the Saudi state holds the large majority of Aramco, the small free float, not the cap, is usually the practical constraint. REPORTED foreign institutional ownership is approximately 8% to 12% of Aramco's free float. Family office positions sit far below the 10% limit in practice, but confirm the current limits with your broker before building a large position.
What are the trading costs and fees?
Brokerage commissions: 0.15% to 0.30% per trade, depending on broker and order size. Custody fees: 0.10% to 0.25% per annum. Account maintenance: typically 0 for international brokers, 50 to 100 SAR annually for some Saudi brokers. Wire transfer fees (SWIFT) into and out of Saudi bank accounts: approximately 25 to 50 USD per transaction. For a 1 USD million position held for one year, total all-in cost estimates to 0.25% to 0.75%, or 2,500 to 7,500 USD.
What is the settlement timeline for Tadawul trades?
Saudi Aramco and all Tadawul-listed securities settle on T+2 (trade date plus two business days). Dividends are paid in Saudi Riyals via the broker's settlement account and can be wired internationally by request. Dividend yields on Saudi Aramco REPORTED 2.5% to 3.5% annually as of April 2026.
Which brokers offer Tadawul access for GCC family offices?
Interactive Brokers (Tier-1 international platform, 0.08% commissions on large orders, no account minimums after initial deposit). Saxo Bank (European-regulated, 0.15% to 0.25% commissions, 2,000 USD minimum). Rakuten Securities (0.20% commissions, available for Gulf residents). Some direct Saudi brokers also serve foreign investors. Ask your private banker or wealth advisor which platforms they have pre-integrated for Gulf clients.
Frequently asked questions
Can foreign investors buy Saudi Aramco stock directly?
Yes. Since 1 February 2026 the Saudi Capital Market Authority (CMA) has opened the Main Market to all categories of foreign investors, so Saudi Aramco (Tadawul ticker: 2222) can be bought directly through a CMA-licensed broker or an international platform with Tadawul access, without the former Qualified Foreign Investor (QFI) qualification. Standard Customer Due Diligence (CDD) applies. Foreign holdings remain subject to the CMA ownership limits: 10% per non-strategic foreign investor and 49% aggregate foreign ownership per listed issuer.
Do foreign investors still need a QFI account to buy Saudi shares?
No. The Qualified Foreign Investor (QFI) regime was the route for non-resident foreign institutions until the CMA opened the Main Market to all categories of foreign investors from 1 February 2026. Foreign individuals, institutions and funds now open an account with a licensed broker and complete standard KYC. GCC nationals already invest directly on the same footing as Saudi investors. Documentation typically includes passport, proof of address, and a declaration of investment knowledge.
How long does it take to open a Tadawul account and start trading Aramco?
ESTIMATED 10-20 business days from application to first trade. The timeline depends on broker processing speed and CDD verification. Most international brokers with Saudi access (Interactive Brokers, Saxo, Rakuten) process foreign-investor accounts within this window. Some family offices report 5 business days with responsive brokers.
Are there restrictions on how much Saudi Aramco a foreigner can own?
Yes. Under the CMA rules a single non-strategic foreign investor may own no more than 10% of a listed issuer, and aggregate foreign ownership in any listed issuer is capped at 49%. Tadawul publishes foreign ownership levels for each listed company. For Saudi Aramco the small free float, not the cap, is usually the practical constraint. Confirm the current limits with your broker before building a large position.
What are the fees and custody costs for Tadawul investing from abroad?
Brokerage commissions on Tadawul range 0.15% to 0.30% per trade. Custody and account fees vary by broker; some charge 0.10% to 0.25% annually. International wire transfers in and out of the brokerage incur standard SWIFT fees (approximately 25 to 50 USD per transaction). Total all-in cost for a 1 USD million position runs 0.25% to 0.75% on setup.