In this latest episode of Construction Week in Focus, Jack Ball, senior reporter at Construction Week, runs through these updates, aimed at attracting foreign investment and top talent across a variety of fields.
Announced by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai on 21 May, the Gold Card permanent residency scheme for certain investors, and others with “exceptional competencies” in the fields of medicine, engineering, science, and the arts.
Saudi Arabia’s cabinet – chaired by Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud – also approved its Privileged Iqama special residency system in mid-May.
Touted as the kingdom’s version of the Green Card, which permits foreign nationals to live and work in the US, the new scheme will allow highly skilled expats and owners of capital funds to live and work in Saudi Arabia without the need for a local sponsor.
(Source: Construction Week YouTube channel)