How Premium Residency Works in Saudi Arabia

Types of Premium Residency

There are multiple types of Premium Residency programs tailored to different categories of individuals:

Special Talent Residency‍

Geared towards professionals in specialised fields such as healthcare, science, and research. This program targets individuals with a high level of expertise in priority fields that align with the Kingdom’s development goals. Applicants need to hold at least a bachelor’s degree and have three years of work experience, as well as a job offer from an approved entity.

Gifted Residency‍

Reserved for individuals who have received exceptional recognition in fields such as culture or sports. Eligibility is based on nominations or awards endorsed by the Saudi Ministry of Culture or Ministry of Sports. This residency type allows talented individuals to contribute to the country's cultural and sporting landscape.

Investor Residency‍

For foreign investors who wish to make significant economic contributions to Saudi Arabia. Applicants must invest at least SAR 7 million in business activities within two years and create a minimum of 10 jobs. In exchange, they gain the right to reside permanently in the Kingdom.

Entrepreneur Residency‍

Aimed at entrepreneurs launching startups or businesses in Saudi Arabia. Applicants must secure a minimum investment from a Saudi-recognized investment entity and hold an entrepreneur license. The first category of applicants must raise SAR 400,000, while the second category must raise at least SAR 15 million. Both categories are required to create jobs and maintain the eligibility criteria for permanent residency.

Real Estate Owner Residency‍

This option is designed for foreign nationals who own real estate in Saudi Arabia. The property must be worth a minimum of SAR 4 million and must be residential (undeveloped land is not eligible). Residency is directly tied to the ownership or usufruct of the property.

Limited Duration Residency‍

This option provides a short-term residency, typically for one year, which can be renewed annually. Applicants must provide proof of financial solvency and meet general residency requirements.

Unlimited Duration Residency‍

For those seeking permanent residency without time limits, this option requires a one-time fee of SAR 800,000. Applicants must prove their financial solvency and pass medical examinations.

Key Benefits of Premium Residency

Premium Residency in Saudi Arabia comes with several privileges that allow residents to enjoy a higher standard of living and greater freedom of movement and business operations:

• No Visa Requirement: Premium Residency holders can travel to and from Saudi Arabia without needing a visa. This is particularly beneficial for individuals who frequently travel for business or personal reasons.
• Business Freedom: Holders can conduct business freely in Saudi Arabia and can move between different entities without paying transfer fees.
• Real Estate Ownership: Premium residents are permitted to own property in Saudi Arabia, which is typically restricted to citizens. They can also own real estate for residential or commercial purposes, making it attractive for those wishing to invest in the Kingdom.
• Exemption from Expatriate Fees: Premium Residency holders are exempt from the usual fees imposed on expatriates and their dependents, providing significant financial relief.
• Family Benefits: The residency also extends to family members, offering a path for them to live and enjoy the same privileges within the Kingdom.
• Flexibility in Hosting and Inviting Relatives: Residents can host and invite family members to visit Saudi Arabia with ease, enhancing their ability to stay connected with loved ones.
• Nitaqat Exemption: Premium residents are exempt from the Nitaqat program, which limits the number of foreign workers businesses can hire based on Saudization quotas. This allows for greater flexibility in employment.

General Application Requirements

Regardless of the specific residency type, applicants must meet general requirements to be eligible for Premium Residency:

• A valid passport
• Passing a medical examination
• Having legal residency within Saudi Arabia (for applicants already residing in the country)
• Meeting the minimum financial solvency criteria for certain residency types
• Obtaining endorsements or satisfying specific job-related criteria for professional residencies

Cost and Duration

The cost of applying for Premium Residency varies depending on the type of residency being applied for. For instance, Special Talent and Investor residencies may require a one-time fee of SAR 4,000, while the Unlimited Duration Residency requires a larger one-time fee of SAR 800,000. Additionally, most types of residency, such as Gifted or Entrepreneur Residency, are tied to performance and eligibility criteria, which must be maintained to renew or transition to permanent residency.

For more information on investing in Saudi Arabia please see here