Rosy Rizk
Rosy Rizk
Associate

The Kingdom of Saudi Arabia has introduced a series of groundbreaking premium residency options. Dr. Majid bin Abdullah Alkassabi, Chairman of the Premium Residency Center announced five distinctive categories—special talent, gifted, investor, entrepreneur, and real estate owner residencies. This strategic move, harmonizing with Vision 2030’s objectives, positions Saudi Arabia as a global hub for professionals, driving unparalleled economic growth.

Premium residency holders enjoy a range of privileges, from extended family residency to business engagement perks, visa-free travel, real estate ownership, fee-free facility transfers, and hosting relatives.

Introduced in 2019 with two premium residencies (the renewable one-year premium residency and the permanent premium residency), the program has expanded to seven, underlining Saudi Arabia’s commitment to global appeal and economic dynamism.

Detailed Insights into Residency Categories:

  1. Special Talent Residency:

The first path caters to individuals specialized in healthcare, science, and research, requiring a monthly income exceeding 35,000 riyals for healthcare and scientific competencies and 14,000 riyals for researchers. Eligibility includes a valid employment contract, a bachelor’s degree, over 3 years of work experience, and a recommendation letter.

The second path requires an employment contract for a leadership role with a monthly salary of 80,000 riyals, along with a recommendation letter.

The residency duration is initially five years, extendable to permanent residency after 30 cumulative months of residence.

  • Gifted Residency:

The first path requires nomination or receipt of a specific award.

The second path involves meeting eligibility criteria set by the Ministry of Sports or Culture.

The residency duration is initially five years, extendable to permanent residency after 30 cumulative months of residence.

  • Investor Residency:

It involves obtaining investment licenses, submitting commercial registration, and investing a minimum of 7 million riyals in economic activities in Saudi Arabia. This category secures direct permanent residency, conditioned on investment and job creation within the first two years.

  • Entrepreneur Residency:

Two categories exist, with the first requiring approved investment rounds not less than 400,000 riyals, renewable every five years. The second requires rounds of no less than 15 million riyals, offering direct permanent residency contingent on substantial job creation.

  • Real Estate Owner Residency:

It includes owning or leasing real estate assets in Saudi Arabia valued at no less than 4 million riyals. The property should be solely residential and not mortgaged, with residency linked to ownership or lease.

  • One-Year Renewable Premium Residency:

Renewable annually with a minimum financial contribution of 100,000 riyals.

  • Permanent Premium Residency:

Requires a one-time payment of 800,000 riyals.

This introduction of premium residencies aligns with Vision 2030’s goal to create an inviting environment for global talent, fostering development and attracting substantial investments.

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