Premium Residency

The Premium Residency, informally known as Saudi Green Card, is a residence permit in Saudi Arabia grants expatriates the right to live, work and own business and property in the Kingdom without need for a sponsor.[1] The new scheme aims to attract highly skilled and wealthy foreign nationals as well as investors and entrepreneurs.[2] The introduction of the Premium Residency comes as a part of Saudi Arabia's Vision 2030 reform plan, which was announced by Crown Prince Mohammed bin Salman to boost the Saudi economy.[3] The permanent residency is granted for $213,000 while the one-year renewable residency costs $26,660.[4]

Premium Residency
Type of projectGovernmental
Established2019
Statusactive
Websitesaprc.gov.sa

Requirements

Qualifying applicants require to have a valid passport and evidence of sufficient financial resources. The renewable permit is issued one-year and will be renewable for an unlimited time.

Benefits

Eligible foreigners enjoy some benefits, including recruiting workers, owning businesses, property, and means of transportation. Generally, they will be granted equal rights to Saudis in most cases.[5][1]

References
  1. "The Saudi 'Green Card' gets a green light". Arab News. 2019-05-12. Retrieved 2019-05-15.
  2. Bridge, Sam. "Saudi Arabia approves plan for Green Card-style system". ArabianBusiness.com. Retrieved 2019-05-15.
  3. "Saudi 'green card' online platform is open for business". Arab News. 2019-06-23. Retrieved 2019-08-07.
  4. "Saudi Arabia launches special residency scheme to boost investment, non-oil revenue". Arab News. 2019-06-23. Retrieved 2019-06-23.
  5. "Saudi Shura Council approves Green Card-style residence". gulfnews.com. Retrieved 2019-05-15.


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