Saudi Arabia has introduced five new resident permits for foreigners, offering a host of benefits such as exemption from foreigner fees, visa-free travel, and the ability to own property in the kingdom.
These resident permits also provide recipients with the chance to attain premium residency status for their families, enabling participation in business activities, fee-free money transfers, and inviting relatives to join them in Saudi Arabia.
The new residence packages are divided into four groups: skilled, investor, entrepreneur, and real estate. A one-time cost of 4,000 Riyals applies to applicants for these resident permits, who must provide standard documentation such as a valid passport, medical certificate, and proof of legal status if applying within the country.
Professionals in medicine, science, or similar fields can apply for the special talent resident permit, valid for five years. Applicants, such as doctors earning 35,000 Riyals monthly or researchers earning 14,000 Riyals, can qualify under specific salary thresholds. Executives earning over 80,000 Riyals per month are also eligible.
Investors can obtain permanent resident permits by investing 7 million Riyals and creating at least ten jobs in the initial years. Entrepreneurs must meet existing criteria, including a minimum investment of $400,000 and a 20% stake in a startup.
Real estate residency applicants must own property worth at least 4 million Riyals, ensuring it is free from current and future debts, to qualify for these exclusive resident permits. These innovative permits aim to attract skilled professionals, investors, and entrepreneurs, contributing to the kingdom’s Vision 2030 goals.
