Open PSE Account from Saudi Arabia: Complete OFW Guide for Filipino Workers in KSA

TLDR: To open PSE account from Saudi Arabia, OFWs in KSA can apply entirely online through COL Financial or Philstocks without visiting a Philippine embassy. You need a valid Philippine passport, a Philippine home address, and a TIN number. Fund your account via Wise for the best exchange rates, through GCash using your active Philippine SIM, or via SWIFT bank transfer from Saudi banks like Al Rajhi or NCB.

If you want to open PSE account from Saudi Arabia, you are in a strong position. Saudi Arabia is home to the largest concentration of Overseas Filipino Workers in the Middle East — over 800,000 according to the Department of Migrant Workers as of 2025. Yet most Filipino workers in the Kingdom do not realize they can open PSE account from Saudi Arabia and invest in the Philippine Stock Exchange while living in Riyadh, Jeddah, or Dammam. This guide covers exactly how OFWs in the Kingdom can open PSE account from Saudi Arabia, fund it, and start trading — with no branch visits, no notarization, and no embassy trips required.

For a general overview of the entire process, start with our PSE Account OFW Guide which covers brokers, documents, and funding methods for all countries.

Can OFWs in Saudi Arabia Open a PSE Account?

Yes. Saudi Arabia imposes no restrictions on Filipino residents owning foreign stocks. Unlike some Middle Eastern countries that require employer sponsorship for financial accounts, the PSE account opening process is governed entirely by Philippine regulations as confirmed by the Bangko Sentral ng Pilipinas (BSP). The three requirements are the same as for any OFW you need to open PSE account from Saudi Arabia: Filipino citizenship, a Philippine residential address, and a valid government-issued ID.

The key advantage for OFWs in Saudi Arabia: you earn in Saudi riyals (SAR), which is pegged to the US dollar at approximately 3.75 SAR per USD. As of May 2026, this translates to approximately PHP 16.36 per SAR. This means your savings do not suffer from the same exchange rate volatility that affects OFWs in countries with floating currencies. When the Philippine peso weakens against the US dollar — as it has from PHP 54 to PHP 62 per USD between early 2024 and May 2026 — your riyal earnings effectively buy more PSE stocks at lower peso prices.

Which Broker to Choose When You Open PSE Account from Saudi Arabia

Two brokers are optimized for OFWs who want to open PSE account from Saudi Arabia:

For a detailed comparison of all five OFW-friendly brokers including BPI Trade, BDO Nomura, and First Metro Sec, read our PSE Broker Comparison guide.

Step-by-Step: Open PSE Account from Saudi Arabia

Step 1: Choose Your Broker

Start with COL Financial for the lowest fees (0.25% commission) or Philstocks for the most modern app and zero monthly fees. Both accept OFW applications online — you never need to visit a branch or embassy to open PSE account from Saudi Arabia.

Step 2: Prepare Your Documents from Saudi Arabia

You need three documents to open PSE account from Saudi Arabia, all of which you already have or can get online:

• Philippine passport — scan the data page in color at 300 DPI minimum
• Proof of Philippine address — use your family’s home address in the Philippines with a scanned utility bill (electric, internet, or bank statement under your or your family’s name)
• TIN number — if lost, request it from the Bureau of Internal Revenue (BIR) online portal. OFWs are exempt from filing income tax returns in the Philippines but still need a TIN for PSE account opening

Saudi iqama (residence card) is not required to open PSE account from Saudi Arabia, though some brokers may request your employment contract as proof of OFW status.

Step 3: Submit the Online Application

Go to COL Financial or Philstocks and select the “OFW” or “Non-Resident Filipino” application option. Upload your scanned documents. Applications are typically processed within 24 hours for COL Financial and 1-3 business days for Philstocks.

Step 4: Fund Your Account from Saudi Arabia

This is the step where Saudi-based OFWs face the most questions. Here are the five working methods once you open PSE account from Saudi Arabia:

The most practical method for most OFWs who open PSE account from Saudi Arabia: maintain your Philippine SIM for GCash OTPs, then use InstaPay from GCash to your broker’s partner bank. A PHP 5,000 deposit costs just PHP 25 and arrives instantly. For better exchange rates on SAR to PHP conversions, use Wise (formerly TransferWise) which offers mid-market exchange rates and lower fees than traditional bank wires. For larger amounts, a SWIFT transfer from your Saudi bank (Al Rajhi, NCB, SABB, or Riyad Bank) costs SAR 25-50 on the Saudi side plus PHP 200-500 on the Philippine receiving side.

Step 5: Start Trading While in Saudi Arabia

PSE trades Monday to Friday, 9:30 AM to 3:30 PM Manila time (PHT). In Saudi Arabia (UTC+3, AST), this translates to 4:30 AM to 10:30 AM Riyadh time — which overlaps with early morning hours before work hours begin at 8:00 or 9:00 AM in the Kingdom. Download your broker’s mobile app and place trades during your morning routine or during breakfast break. All trades are executed through the Philippine Stock Exchange (PSE) trading system.

For recommended stocks to buy as a first-time investor after you open PSE account from Saudi Arabia, read our PSE Blue Chip Stocks guide.

Tax Implications for OFWs Who Open PSE Account from Saudi Arabia

Saudi Arabia imposes zero personal income tax, zero capital gains tax, and zero dividend tax on individual investors, as confirmed by the Saudi Arabia Capital Market Authority (CMA). This means:

• Your PSE stock dividends are taxed only by the Philippines (10% withholding tax for non-resident Filipinos)
• Your capital gains on PSE stocks are subject only to the Philippine stock transfer tax (0.6% on selling)
• You do NOT owe Saudi Zakat or income tax on your PSE investments

This makes Saudi Arabia one of the most tax-efficient locations for OFWs who open PSE account from Saudi Arabia and build a portfolio from abroad. For OFWs in other Gulf countries, see our PSE Account UAE Guide for Dubai and Abu Dhabi, or our PSE Account Singapore and Hong Kong Guide for Asian hubs.

For a comparison of PSE investing against other OFW investment options, see our Bonds vs Stocks guide.

When trading online from Saudi Arabia, securing your connection is important — especially when accessing your PSE brokerage account from public WiFi in cafés or airport lounges during layovers. Using a VPN adds an extra layer of encryption to protect your financial data and account credentials from potential breaches.

Frequently Asked Questions