AdvicesBlogConsultationBeyond Visas: Saudi Arabia’s Premium Residency for Investors and Professionals

February 21, 2024by admin0

Saudi Arabia Premium Residency Visa

 

Nestled in the heart of the Middle East, Saudi Arabia beckons foreign nationals with a promise of a vibrant culture, rich history, and a rapidly growing economy. Guided by Vision 2030, the Kingdom has embarked on a journey of economic diversification and global integration. As part of this transformative initiative, the Saudi government has introduced a range of Premium Residency programs, a testament to the nation’s commitment to fostering diversity and inclusivity.

A premium residency in 2024 caters unique opportunity to all expats to grab extra benefits of being Saudi Arabian resident without a sponsor. This pivotal move that signals a new gateway for all expatriates to have an elevated and enriched life with stability, security, and great opportunities in the heart if Saudi Arabia.

These programs invite skilled professionals, investors, and entrepreneurs to be part of Saudi Arabia’s journey toward prosperity, contributing to its evolving economic landscape.

Premium residency brings a host of exclusive benefits, including the ability to extend these privileges to family members. By having premium residency expats can now operate business own real estate, and transfer between entities without incurring additional fees, most notably, the premium residency exempts expatriates from certain fees, facilitates hassle-free travel to and from Saudi Arabia without visa, and even allows them to host and invite relatives.

This premium residency program aims to attract a broad spectrum of individuals and contribute to the overall growth and development of the country and includes a variety of categories, each designed to cater to distinct needs and circumstances. This category includes:

 

Saudi Arabia Premium Residency Visa

 

1)   Special Talent Residency:

 

Eligibility Criteria:

 

Professionals in healthcare and science:
  • Professionals in healthcare and science: Minimum Monthly Salary SAR 35,000
  • Researchers: Minimum Monthly Salary SAR 14,000
  • Employment contract in approved entities with priority specializations
  • Bachelor’s degree or higher
  • More than three years of work experience in related priority specializations
  • Endorsement letter from the employer

 

For Executives:
  • Employment contract for executive level, with a total minimum monthly salary of SAR 80,000
  • Endorsement letter from the employer

 

Residency Duration:

Upon issuance: 5 years

Upon renewal: Renewable for one additional term, subject to meeting eligibility criteria

Permanent Residency: Maintain eligibility criteria and complete a residency of 30 months within 5 consecutive or non-consecutive years.

 

Special Benefits:
  • Eligibility for permanent residency upon meeting specified conditions
  • Exemption from the (Nitaqat) Program One-time fee: SAR 4,000

 

Why Choose? Shape the future in healthcare, science, or research, unlocking a pathway to permanent residency.

 

 

2)   Gifted Residency:

 

Eligibility Criteria:
  • First Category: Nomination or receiving one of the specified exceptional awards approved by the Ministry of Culture and Ministry of Sports
  • Second Category: Fulfilling the minimum eligibility criteria approved by the Ministry of Culture and Ministry of
  • Meeting the minimum financial solvency requirement (ensuring the ability to bear the cost of living in Saudi)
  • Obtaining an endorsement from either the Ministry of Culture or the Ministry of Sports, depending on the applicant’s field

 

Residency Duration:

Upon issuance: A fixed-term residency for five years.

Upon renewal: A fixed-term residency for five years, renewable once upon meeting the eligibility criteria for the product and having a residence for a period of 30 months during five years either consecutive or non-consecutive.

Permanent residency: When continuously meeting the eligibility criteria for the product, having a residence for a period of 30 months during five years either consecutive or non- consecutive, and receiving an endorsement to have permanent residency from the Ministry of Culture or Ministry of Sports or the Ministry of Culture as a prerequisite for obtaining permanent residency.

 

Special Benefits:
  • Obtain permanent residency upon meeting the
  • Exemption of the primary Premium Residency holder from the “Nitaqat” Program One-time Fee Only: SAR 4000

 

Why Choose? Elevate your status through exceptional awards or meeting specific criteria, securing a fixed-term residency and the prospect of permanent residency.

 

3)   Investor Residency:

 

Eligibility Criteria:
  • Issuing an investment license
  • Providing commercial register and articles of incorporation
  • Investing a minimum of SAR 7 million in economic activities
Residency Duration:

Direct permanent residency conditioned on injecting SAR 7 million and creating 10 jobs during the first two years.

Special Benefits:
  • Directly obtaining permanent residency One-time fee: SAR 4,000

 

Why Choose? Invest in Saudi Arabia’s economic landscape and secure direct permanent residency, bridging the gap between financial opportunity and a thriving future.

 

4)   Entrepreneur Residency:

 

Eligibility Criteria:
  • First Category: Minimum investment of SAR 400,000 (20% share)
  • Second Category: Minimum investment of SAR 15 million (10% share)
  • Holding an entrepreneur license from the Ministry of Investment
  • Endorsement letter from the investment entity
Residency Duration:

First Category: 5 years, renewable for one additional term, maintaining eligibility standards and residency for 30 months within 5 years.

Second Category: Permanent residency conditioned on creating at least 10 jobs in each of the first two years.

Special Benefits:
  • Nominate two staff members for Special Talent Residency
  • Entity exempted from ‘Nitaqat’ for the first 3 operational years (First Category)
  • Directly obtain permanent residency (Second Category) One-time Fee: SAR 4,000

 

Why Choose? For those who dare to innovate, embrace a dynamic journey with two categories offering a fixed-term or direct permanent residency, along with the power to nominate talent.

 

5)   Real Estate Owner Residency:

Eligibility Criteria:
  • Own real estate assets worth a minimum of SAR 4,000,000 within Saudi
  • The property must be free from existing and future
  • Property ownership or utilization must not be associated with real estate
  • The real estate must be
  • The real estate must be developed and not from undeveloped or unimproved
  • The real estate asset must be appraised by accredited valuers within the Saudi Authority for Accredited Valuers “Taqeem.”

Residency Duration:

Tied to real estate ownership or usufruct.

One-time Fee: SAR 4,000

 

Why Choose? Make Saudi Arabia your home by owning real estate worth a minimum of SAR 4,000,000, enjoying the privileges tied to your property ownership.

 

6)   Limited Duration Residency:

Eligibility Criteria:

Provide proof of the applicant’s financial solvency.

 

Residency Duration:

One year

Annual Fee: SAR 100,000

 

Why Choose? Experience the Kingdom for a year with an annual fee of SAR 100,000, a steppingstone to explore the culture, opportunities, and potential of Saudi Arabia.

 

7)   Unlimited Duration Residency:

Eligibility Criteria:
  • Provide proof of the applicant’s financial solvency

Residency Duration:
  • Permanent

One-time Fee: SAR 800,000

 

Why Choose? Embark on an everlasting journey with unlimited duration residency, a one- time fee that secures your place in the Kingdom indefinitely.

General Application Requirements (Applicable to all categories):
  • Valid Passport
  • Passing the medical examination
  • Legal residency in Saudi (for those applying from within Saudi)

Saudi Arabia Premium Residency Visa: Conclusion

 

As Saudi Arabia opens its arms to the world, the Premium Residency programs emerge as an unparalleled opportunity for those seeking a permanent home in this thriving nation. Whether you are a skilled professional, investor, or entrepreneur, these programs not only offer residency but unlock a myriad of benefits, from exemption of expat fees to the freedom of exploring Saudi Arabia without the constraints of a traditional visa. Join us in the journey towards a prosperous future, contribute to Saudi Arabia’s dynamic growth, and make the Kingdom your home. Apply today, and step into a world of opportunities and possibilities.

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