This program intends to entice skilled experts, investors, and entrepreneurs to add to the nation’s developing non-oil economy.
The Saudi Premium Residency, also known as the Saudi Green Card, is a unique residency scheme that provides expats with long-term residency and enhanced privileges and opportunities. Unlike other residency programs, it offers higher independence, property ownership, and investment opportunities without the need for a local sponsor.
Presented in 2019 under the Vision 2030 reform scheme, this program intends to entice experienced experts, investors, and entrepreneurs to add to the nation’s developing non-oil economy.
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Meaning Of The Saudi Premium Residency
The Saudi Premium Residency is a unique visa that allows international citizens to settle, get employed, and own property in Saudi Arabia. Contrary to standard residency permits, it does not need sponsorship, described as Kafala, from a Saudi national or boss.
Major Advantages
Individuals who hold the Saudi Premium Residency enjoy a range of exclusive rights:
- Liberty to settle and get employed in Saudi Arabia.
- Real estate ownership
- The freedom to develop and supervise businesses.
- Capacity to support dependents and local employees.
- Qualification to apply for premium residency for relatives.
- Expense-free foreign fund transfers
- Authorization to host and invite family members
- Visa-free access and exit
- Entrance to public healthcare and studies
- No employer limitations on employment mobility
- Ownership and certification of cars and other modes of transportation
Qualification Measures
Candidates are required to satisfy the following conditions:
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- Be a minimum of 21 years.
- Authentic passport with a least authenticity of six months
- Possess a clean criminal history
- Go through a medical test and be in good condition
- Offer evidence of enough financial resources to sponsor themselves and their relatives.
The Costs Of Premium Residency Card
There are two primary kinds of Premium Residency:
Unlimited Period Residency
- Permanent authenticity
- One-time payment of $213,285
12-Month Renewable Residency
- Yearly charge: $26,660.65
- Renewable annually
How To Apply
Requests are presented online via the Saudi Premium Residency Center:
Step-by-Step Procedure
- Go to the official portal
- Generate an account and fill out the application form
- Upload needed documents, which include:
- Authentic passport
- Evidence of financial stability
- Health insurance
- Police clearance without a criminal history
- Medical health certificate
- Reimburse the request fee, which can not be refunded
- Wait for evaluation and final authorization
Requests are checked adequately, and decisions are generally made within 1 to 3 months.
Who Can Make An Application
The scheme is available to:
- International investors and entrepreneurs
- Experienced experts such as physicians, Information Technology experts, engineers
- Asset owners
- High-attaining persons in sports, academia, and arts
- Retired expats with steady earnings.
New Premium Residency Categories
Furthermore, to the common premium residency choices, Saudi Arabia launched five professional classifications in January 2024 to entice specific skills and investments:
- Special talent residency
- Gifted residency
- Investor residency
- Entrepreneur residency
- Real estate owner residency
