Step into exclusivity—the Saudi Arabian Premium Residency Visa has broken ground to a privileged lifestyle, ease of doing business, and an unparalleled cultural experience. This state is set to attract only the best minds from across the world to create a culture for innovation and economic growth.
Saudi Arabia is a fantastic choice for residency due to its rich culture, diverse population, strong economy, and prime location. It is also considered one of the safest countries in the world, ranking third among G20 nations in terms of security. The government is always striving to have three cities recognised among the world’s top 100 places to live.
With six new types of premium residency options, Saudi Arabia is all set to attract waves of specialised talents that will give new wings to research and development initiatives.
What is the Premium Residency in Saudi Arabia?
Otherwise known as a Green Card, the Saudi Premium Residency is a premium program that allows foreigners to reside in Saudi Arabia, work independently, or operate businesses and own property independently without depending on any sponsor. Brilliant professionals, entrepreneurs, and investors will be attracted to strengthen the country’s economy. Since its inception, it has captured significant worldwide attention and has played a crucial role in the expansion of the Saudi Arabian economy and attracting top talent with investments from around the world.
What are some general benefits of a Premium Residency in Saudi Arabia?
- No sponsor is required to live and work in the country
- Family residency
- Move between different jobs and establishments freely
- Visa-free exit and entry for Saudi Arabia
- Obtain visit visas for relatives
- Own real estate properties
Types of Saudi Premium Residence
Premium residency comes with six different categories, all structured for particular people and their own peculiar needs. They include the following:
1. Limited duration and unlimited duration premium residency
2. Real estate owner residency
3. Investor residency
4. Special talent residency
5. Entrepreneur residency
6. Gifted residency
Each of the categories has different eligibility criteria and privileges and may be chosen according to the goal and qualification of the individual.
Limited Duration and Unlimited Duration Premium Residency
This residency option is perfect for individuals seeking permanent or annual residency in Saudi Arabia. The limited duration and unlimited duration Premium Residency options offer excellent benefits for potential residents.
Eligibility Criteria
- The resident must provide proof of their financial capability
- Must comply with the general eligibility requirements for Premium Residency
Residency Duration
- Limited duration premium residency: Fixed-term residency for 1 to 5 years and is renewable
- Unlimited duration premium residency: Permanent residency
Real Estate Owner Residency
This Premium Residency option is for real estate owners in Saudi Arabia. It offers a secure environment for both real estate investment and personal living, as well as a wide range of growth options.
Eligibility Criteria
- The resident must own or use real estate worth at least SAR 4,000,000 in Saudi Arabia.
- The property must be free of any mortgages.
- The property must be residential.
- The property must be developed, not undeveloped or unimproved land.
- The property must be appraised by accredited valuers from the Saudi Authority ‘Taqeem’ for accredited valuers.
Residency Duration
- Residency is tied to the ownership or use of real estate.
Investor Residency
The investor residency is for investors wanting to do business in Saudi Arabia. Saudi Arabia is the largest market in the region, with strong economic growth and a large population. Its geographical location connects three continents: Asia, Africa, and Europe, drawing significant investment. The investment environment is proactive and in line with Saudi Arabia’s GDP growth goals.
Eligibility Criteria
- The resident must submit a valid license from the Ministry of Investment for investments worth at least SAR 7 million.
- The resident must have a valid commercial registration.
- The resident must provide a Memorandum of Association showing investor shares.
Residency Duration
- Residency is granted for a 5-year renewable term, or potentially permanent status after two years. Your eligibility for permanent residency depends on your investment amount.
Special Talent Residency
This residency option is for exceptional professionals in executive leadership, healthcare, science, and research who can help develop local capabilities and share knowledge.
With this specific residency, Saudi Arabia aims to attract the best minds globally to enhance development, creativity, and investment in human capital.
Eligibility Criteria
The eligibility criteria differ based on the roles such as researchers, healthcare, and scientific professionals, as detailed below:
1. Researchers:
- Have an employment contract with priority specialisation
- Earn a minimum monthly wage of SAR 14,000
- Hold a bachelor’s degree or higher
- Have more than three years of work experience in the related field
- Hold a minimum score in the points system
- Recommendation letter from the employer
- Have at least three research publications in the related field
2. Healthcare and Scientific Professionals:
- Have an employment contract with prioritised entities
- Harn a minimum monthly wage of SAR 35,000
- Hold a bachelor’s degree or higher
- Have more than three years of work experience in the related field
- Hold a minimum score in the points system
- Recommendation letter from the employer
3. Executives
- Hold an employment contract for first or second-level executives
- The resident must earn a minimum monthly wage of SAR 80,000
- Recommendation letter from the employer
Residency Duration
- A five-year fixed-term residency, and it is renewable for one term upon meeting eligibility criteria
Permanent residency upon continued adherence to eligibility standards
Entrepreneur Residency
This residency option is for entrepreneurs and innovators aiming to launch or develop start-ups in Saudi Arabia. Saudi Arabia is advancing in global competitiveness and small investor protection, making it a top destination for entrepreneurs and SME owners. This premium residency type supports entrepreneurs by providing a stable and nurturing environment.
Eligibility Criteria
There are two categories when it comes to entrepreneur residency in Saudi Arabia. The eligibility for each is as below:
Category 1:
- Entrepreneur license from the Ministry of Investment
- Minimum SAR 400,000 from an accredited entity
- Letter from your investment entity
- Minimum 20% share in the company
Category 2:
- Entrepreneur license from the Ministry of Investment
- Minimum SAR 15,000,000 from an accredited entity
- Letter from your investment entity
- Minimum 10% share in the start-up company
- Create at least 10 jobs in the first year and 10 more in the second
Residency Duration
Category 1: It is a five-year fixed-term residency
Category 2: It is a permanent residency, conditioned on creating at least 10 jobs in the first year and at least 10 more jobs in the second year.
Gifted Residency
This residency option is for talented individuals in sports, culture, and artistic talents. This residency aims to attract and develop talented individuals, integrating them into Saudi Arabia’s cultural and professional scene. This fosters creativity, innovation, and growth by facilitating the exchange of experience and knowledge.
Eligibility Criteria
First Category:
- Recognised with a prestigious award in your field
- Endorsed by the Ministry of Culture or Sport
- Meet the required financial criteria
Second Category:
- Meet the minimum qualifications set by the Ministry of Culture or Sport
- Endorsed by the Ministry of Culture or Sport
- Meet the required financial criteria
Residency Duration
- Fixed-term residency: It is valid for five years and is renewable once, with a residency of 30 months within five years (consecutive or non-consecutive).
- Permanent residency: It is granted upon continuously meeting eligibility criteria and having a residency of 30 months within five years (consecutive or non-consecutive), plus an endorsement from the Ministry of Culture or Ministry of Sports.
Ready to elevate your lifestyle in Saudi Arabia? Apply for Premium Residency today!
Saudi Arabia’s Premium Residency program offers a transformative opportunity for expatriates and investors seeking long-term stability and unparalleled benefits in the Kingdom. With its range of advantages—from residency flexibility to enhanced business opportunities—this program stands out as a strategic move for those looking to secure a prosperous future in Saudi Arabia.
As you explore the potential of Premium Residency, it’s crucial to understand the nuances and requirements to make the most of this opportunity. Whether you’re interested in establishing a business, investing in property, or simply enjoying a high standard of living, the Premium Residency program is designed to support your ambitions.
Ready to take the next step?
Contact us today to get expert guidance on navigating the application process and maximising the benefits of Premium Residency in Saudi Arabia. The experts at Gatestone Group are ready to assist you and ensure a smooth transition to your Premium Residency in Saudi Arabia.
FAQs
- Passport copies
- Personal photos
- Proof of financial capacity
- Medical report
- Your Saudi Iqama Number
- Proof of address
- Previous visas
The categories of the Premium Residency in Saudi Arabia are as below:
- Special Talent Residency
- Gifted Residency
- Investor Residency
- Entrepreneur Residency
- Real Estate Owner Residency
- Limited Duration Premium Residency
- Unlimited Duration Premium Residency
The fees for the different categories of Premium Residency in Saudi Arabia are as below:
- Special Talent Residency: SAR 4,000
- Gifted Residency: SAR 4,000
- Investor Residency: SAR 4,000
- Entrepreneur Residency: SAR 4,000
- Real Estate Owner Residency: SAR 4,000
- Limited Duration Premium Residency: SAR 100,000 per year (with a 2% reduction per year on an accumulative basis)
- Unlimited Duration Premium Residency: SAR 800,000
According to Article 9 of the Premium Residency Permit Law, the permit will be terminated if the holder dies or becomes incapacitated.