Saudi Arabia has recently introduced new visa categories aimed at attracting investors and skilled individuals from around the world.
Among these categories, the Premium Residency initiative offers an opportunity for investors to obtain long-term residency visas to encourage investments in the Kingdom which is considered favorable due to its strategic location, connecting three continents.
Here is all you need to know about the premium residency scheme as an investor:
- Residency for family members: Investors can reside in Saudi Arabia along with their parents, spouses, and children under the age of 25.
- Flexibility of establishment: Investors have the flexibility to move from one establishment to another.
- Exemption from expatriate fees: Premium residency holders and their dependents and companions are exempt from expat fees.
- Visa-free exit and return: Investors and their family members can exit and return to Saudi Arabia without the need for a visa.
- Visit visa privileges: Premium residency holders are entitled to obtain visit visas for their relatives.
- Expedited airport procedures: Investors and their families can utilise dedicated tracks for citizens at airports.
- Private sector employment: Premium residency holders, their spouses, and dependents have the right to work in the private sector and move between establishments.
- Business conduct under investment law: Investors can conduct their business operations in accordance with the guidelines set forth by the Investment Law.
- Real estate ownership: Investors have the privilege to own and rent real estate commitment to the Kingdom.
Special benefits of the premium residency visa
In addition to the general benefits, the Investor Residency programme offers special advantages including:
Direct permanent residency: Investors directly obtain permanent residency.
Eligibility criteria
To be eligible for the Investor Residency programme, investors must meet specific criteria, including:
- Holding an investment license: Investors must possess a valid investment license to conduct business activities in Saudi Arabia.
- Minimum investment: Investors are required to invest a minimum of SAR7 million in economic activities within the Kingdom, in accordance with the Investment Law.
- Job creation: Investors must create a minimum of 10 jobs in Saudi Arabia, contributing to employment opportunities and economic growth.
Residency duration and fees
The Investor Residency programme offers direct permanent residency to qualified investors, subject to the following conditions:
- Investment injection: Investors must inject a minimum of SAR7 million into the Saudi market during the first two years of their residency.
- Job creation: Investors must create a minimum of 10 jobs within the first two years, fostering economic development and employment opportunities.
To apply for the Investor Residency programme, investors are required to pay a one-time fee of SAR4,000.
For those interested and eligible, applications can be done through the official premium residency website.
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