Saudi Premium Residency, or the Saudi Premium Iqama, is vital for skilled professionals, entrepreneurs, and investors to reside, work, or own a business or property in Saudi Arabia. The premium residency card, launched in 2019, aims to grow and diversify the Saudi economy without relying on oil for revenue, thereby enhancing cultural exchange.
Role of Saudi Premium Residency / Saudi Green Card
The Saudi Green Card aligns with Saudi’s Vision 2030 to enhance the country’s global talent and investments. The country focuses on enhancing foreign talent and investments paving its way into the competitive world of business.
Saudi Premium Residency Benefits
The country offers multiple benefits with the Saudi Green Card/Premium Residency which appeals to many individuals from all walks of life encouraging them to live, work and invest in Saudi Arabia.
Some of the benefits that one can avail of by using a Saudi Green Card are mentioned below:
Multiple Business Opportunities: The Saudi premium residency helps premium residency holders to invest in the Saudi capital market, own a foreign-owned onshore entity, and work in private organizations. With this residency, or a green card you can do business in various sectors without the need for a local sponsor.
Visa Free entry and exit: Premium Iqama permits investors to allow them in and out of Saudi without applying for a visa. The card allows unlimited international travel for business, leisure, and also for personal reasons.
Family Residency: Immediate family members of premium residency holders can apply for a residence permit in Saudi. The premium iqama permits the family members to return and exit the country without applying for a fresh visa. Besides, premium residents can apply for visitor visas to assist their relatives in visiting the Saudis.
Saudi Premium Residency Eligibility Criteria
Premium residency holders residing in Saudi, for a minimum period can apply for permanent residency in the country. You need to be a resident of Saudi Arabia for at least 30 months within five consecutive or non-consecutive years to apply for permanent residency in Saudi Arabia.
Types of Saudi Premium Residency Products
Saudi Arabia offers different types of Premium Residency products to foreigners to stay permanently in the Kingdom. The different types are listed below:
- Special Talent Residency
- Real Estate Owner Residency
- Investor Residency
- Entrepreneur Residency
- Gifted Residency
- Limited Duration Residency
- Unlimited Duration Residency
Special Talent Residency: This type of residency is specially made for professionals in executive leadership, healthcare, science, and research. The professionals should be exceptional in their field and should be able to contribute to the development of local capabilities and the exchange of knowledge. The Special Talent residency is a 5-year fixed-term residency.
Gifted Residency: This type of residency is designed for skilled professionals and talented individuals in the cultural and sports sectors.
Renewal and permanent residency: The residency is renewable for up to one term. If you meet the conditions, you may also be able to apply for a permanent visa to Saudi Arabia. This residency is renewable once, as long as you have been resident in the Kingdom for at least 30 months during the 5-year term. If you meet the conditions and have an endorsement from the Ministry of Culture or the Ministry of Sport, you may also be able to apply for permanent residency. The Investor Residency has an advantage over other Premium Residencies as there is a path to directly obtain Saudi permanent residency.
Investor Residency: Investor Residency is aimed at investors who want to conduct business and make investments in Saudi Arabia. Saudi Arabia is one of the fastest-growing economies in the world and offers good investment opportunities that make it an attractive destination for investors from around the world.
Entrepreneur Residency: The Entrepreneur Residency is aimed at entrepreneurs, startup owners, and innovators who want to launch and/or develop their start-up companies in Saudi Arabia and develop sectors in Saudi Arabia. Entrepreneur residents can nominate two members of staff for the Special Talent Residency. These staff members are exempt from the residency eligibility criteria. The Entrepreneur Residency is designed to encourage the Kingdom’s economic transformation journey.
Renewal and permanent residency
First-category residents
The residency is renewable for one term, as long as you have continually adhered to the eligibility standards and hold residency for a minimum of 30 months in the 5 years.
Second-category residents
They will achieve permanent residency, as long as they create a minimum of 10 jobs in the first year and 10 jobs the following year.
Real Estate Owner Residency: This residency is intended for foreign real estate owners in Saudi Arabia, who also want to take up residency in the country. It allows them to benefit from the growing real estate market while also enjoying Saudi’s high quality of life.
As long as you maintain ownership of the property and continue to meet the eligibility criteria for the Real Estate Owner Premium Residency, you can renew your residency indefinitely.
Role of Helpline Group in Saudi Arabia
Helpline Group, backed by a strong and experienced team, brings over 25 years of expertise in company formation, offering a seamless, hassle-free experience for clients, including foreigners.
Our seasoned professionals possess in-depth knowledge of the latest rules and regulations, ensuring compliance and efficiency.
With a global presence and a tailored approach, we ensure that your business setup in Saudi Arabia is handled with precision and professionalism, and avail the benefits of using a Saudi Premium Residency or a Saudi Green Card making us your trustworthy partner.
