SAUDI ARABIA - New Permanent Residence Scheme [UPDATED]
The Saudi government has begun accepting applications for its new permanent residence scheme, similar to the green card systems used elsewhere, which aims to attract affluent and highly-skilled foreign nationals.
Unlike the present system, the Premium Residency scheme will not require applicants to have a Saudi sponsor. In addition, holders will be able to work, obtain visas for relatives, hire workers, own property and transport, and leave and re-enter the country without an exit/re-entry visa.
The Premium Residency Centre, an online platform, accepts applications and below are the criteria for applicants:
- The applicant must have a valid passport;
- The applicant must be at least 21 years of age;
- The applicant must not have a criminal record;
- The applicant must provide evidence of their financial solvency;
- The applicant must provide a health report on the health status of the applicant;
- The applicant must hold a valid Iqama if applying from within the Kingdom.
There are two options for those applying for residency:
Option 1: Unlimited Duration Premium Residency (SP1)
This option gives lifetime residency in the Kingdom and has a one-time fee of SAR 800,000 (USD 213,340).
Option 2: Limited Duration Premium Residency (SP2)
The SP2 option gives a one year residency permit and costs an annual fee of SAR 100,000 (USD 26,668).