How to send money to Saudi Arabia in 2026: riyals or dollars to an account in 1-3 business days
The riyal has been pegged to the dollar since 1986, so a transfer to Saudi Arabia arrives in riyals or US dollars at a constant rate in 1-3 business days, to a 24-character account. In 2026 the bank asks for the purpose: rent, a deposit, moving costs, and from $10,000 a statement and a supporting document.
In short
- The riyal has been pegged to the dollar since 1986, and there is no currency control.
- Housing for foreigners since 22 January 2026, paid by transfer through a Saudi bank.
- Permanent premium residency costs 800,000 riyals once.
- There is no personal income tax, and the tax on a housing deal is 5%.
In detail
How money is sent to Saudi Arabia now: checked on 8 October 2026
The 4 routes below were checked on 8 October 2026, and sums are converted at 3.75 riyals per dollar: this rate has held since 1986, so the conversion does not go out of date.
| Route | Now | Currency credited | Timing | What you will need |
|---|---|---|---|---|
| A bank transfer from abroad | works | riyals or US dollars | 1-3 business days | a 24-character account number, the bank's international code, the recipient's name |
| Paying for housing through the state real estate portal | works since 2026 | riyals, electronically from an account at a Saudi bank | under the contract | a digital ID, an account at a local bank, a Saudi phone number |
| An instant transfer by phone number within the country | works since 2021 | riyals | seconds | accounts at banks in Saudi Arabia |
| A money transfer system | works | riyals | from a few minutes | the sender's ID document and the recipient's residence permit |
Your country's bank does not put a transfer to Riyadh through the first time? There are more options than it seems: tell a manager what sum you are sending and for what purpose, and the manager will find a route for your task.
The riyal and the US dollar: which currency to send a transfer in
Since 1986 the Saudi riyal has been pegged to the US dollar at 3.75. The bank credits a dollar transfer at this rate or to a dollar account, while euros and other currencies are exchanged at its own rate. There is no currency control: money enters and leaves the country without permits. The gap between the bank rate and the market rate of the euro can be noticeable, so large sums are better sent straight in dollars.
An account number in Saudi Arabia is international, 24 characters long. An account is opened on a residence permit, while a home buyer who does not live in the country needs a digital ID from the Ministry of Interior and a Saudi phone number linked to it. The recipient's name in the transfer is written exactly as in their residence permit: the bank checks it letter by letter.
Within the country the central bank's instant payment system has worked since 20 February 2021: a transfer between banks arrives in seconds around the clock, and instead of an account number the recipient's phone number can be given. The number is linked to an account in the bank app, and before sending the system shows the recipient's name, so sending to the wrong person is hard.
Housing for foreigners since 22 January 2026: zones and payment through a Saudi bank
On 22 January 2026 the law on foreign ownership of real estate came into force, and on 3 July 2026 its rules were published. Since 24 June 2026 applications have been accepted by the state real estate portal, and the whole deal goes through it.
In Riyadh, Jeddah, Mecca, Medina and AlUla a foreigner buys housing in approved zones: Riyadh has 9 of them, and in Jeddah it is the city centre and 55 development zones. Other cities have no zones. A resident with a residence permit can also buy one home for their family outside the zones, away from border and military areas. In Mecca and Medina housing is bought by Muslims, including those without a residence permit.
Payment is made by electronic transfer through banks supervised by the central bank, and ownership is recorded in the state real estate register. So money from abroad first arrives in the buyer's account at a Saudi bank and from there goes to the seller through the portal. A resident applies with their residence permit number, and the portal checks the right to buy itself, while a foreign company first registers with the Ministry of Investment and discloses its owners.
Example: a flat in Jeddah for 2.5 million riyals ($670,000). The real estate transaction tax is 5%, or 125,000 riyals ($34,000), and the contract states at once which party pays it. If a foreigner later sells housing in Riyadh, Jeddah, Mecca or Medina, a 2% fee of the price is added to the deal.
Need a transfer for a deal and the tax? A manager will tell you how to prepare the account and documents before applying on the portal, and properties are collected on the property in Saudi Arabia page.
We will help you send money to Saudi Arabia
Mistakes cost more than fees: money for a flat sent to the seller directly, bypassing the portal, a transfer from someone else's account instead of the buyer's, a transaction tax not included in the transfer sum. We will help you avoid them: we will choose the route and currency, prepare documents on the origin of the money for the Saudi bank and carry out the transfer through to crediting.
Details and the cost are with a manager in the chat: the price depends on the amount and purpose of the transfer.
Premium residency: what sums are transferred
Permanent premium residency costs 800,000 riyals ($220,000) once, and the fixed-term one 100,000 riyals ($27,000) per year, for 1 to 5 years with renewal. Several years are paid at once, and for each year after the first the fee is 2% lower. With it no sponsoring employer is needed, and the family is registered together with the applicant. A premium residency holder enters and leaves without separate visas, changes jobs without the employer's consent and runs their own business.
A home owner gets a 5-year residence permit with renewal if the house or flat costs from 4 million riyals ($1.1 million), is already built, free of a mortgage and valued by an accredited valuer. The fee for such a residence permit is 4,000 riyals ($1,100).
For a home owner this means two transfers: the price of the house with the transaction tax, and then the fee. We will tell you how best to transfer a large sum so that a bank in Saudi Arabia accepts the documents on the origin of the money the first time.
No tax on personal income: what a resident pays
There is no personal income tax in Saudi Arabia: a salary, interest, money from family and from selling a home abroad arrive in full. Zakat is paid by citizens and Saudi companies, foreign companies pay 20% corporate income tax, and purchases carry 15% VAT. Real estate deals have been exempt from VAT since October 2020: instead a 5% transaction tax is paid. Gifts and inheritances are not taxed, so money from parents for a flat arrives in full.
The employer pays the salary to an account at a local bank, so savings for the period of the contract are conveniently kept there too, in riyals or dollars: the rate is fixed, and on leaving they come back in the same sum minus the fee.
What documents are needed for the transfer amount to Riyadh and Jeddah
- Up to $10,000. The bank checks the name, the account number and the purpose: rent, a deposit, moving expenses.
- $10,000-$100,000. The bank asks for the sender's account statement and a document for the purpose: a lease, an employment contract, an international school invoice.
- From $100,000. The bank studies the source of all the capital: the sale of a flat or a business, an inheritance, savings over years. For housing the same documents are reviewed by the real estate portal, and for premium residency by the centre that issues it.
A bank in Saudi Arabia checks an incoming transfer against the recipient's residence permit: a sum noticeably larger than the salary under the employment contract needs a document on the source, for example a flat sale contract or a savings statement.
General rules are in proof of source of funds and sending a large sum abroad, and a plan for all your capital is on the capital relocation page.
Where salaries from Saudi Arabia are sent: India, the Philippines, Indonesia
About 40% of the country's residents are foreigners, and most of their transfers go to families in Asia, most often once a month, right after payday. A transfer back goes without permits, and the riyal's rate to the dollar does not change.
- To India: money to relatives in Kerala and other states.
- To the Philippines: the salaries of nurses and engineers sent home.
- To Indonesia: the families of workers from Java.
Sending money to neighbouring countries
- How to send money to the UAE: Dubai as the second financial centre of the Gulf
- How to send money to Qatar: the riyal at a fixed rate and flats by the sea
- How to send money to Yemen: two rial rates and the account number
- How to send money to Eritrea: the nakfa at the central bank rate
- How to send money to Bahrain: a transfer within the country in 30 seconds
- How to send money to Bangladesh: a bonus on transfers to family
How to move capital as a whole and in what order to send the money is covered on the capital relocation page.
FAQ
Can a foreigner without a residence permit buy a flat in Saudi Arabia?
How much does permanent residency cost in Saudi Arabia?
What tax is paid on buying housing in Saudi Arabia?
Is an account at a Saudi bank needed to buy housing?
Is a foreigner's salary taxed in Saudi Arabia?
Can riyals be sent by phone number within Saudi Arabia?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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