“Exploring Saudi Arabia’s Latest Initiative: Introduction of 5 New Residence Permit Options for Foreigners”

Saudia Arabia

Saudi Arabia has introduced five fresh residency permits for foreigners, offering a range of advantages, including exemption from foreigner fees, visa-free travel, and property ownership rights within the country.

Recipients of these permits can secure ‘premium residency status’ for their families, engage in business activities, transfer money without fees, and invite relatives to join them in the kingdom.

These residence packages are categorized into skilled, investor, entrepreneur, and real estate, each with specific qualifications. A one-time fee of 4,000 riyals is required for permit applications.

Candidates need to provide standard documents, including a current medical certificate, a valid passport, and proof of legal status in the country for in-country applicants.

The special talent residency, spanning five years, is available to professionals in fields such as medicine and science. Eligibility criteria include a minimum monthly salary of 35,000 riyals for professionals like doctors or scientists.

Researchers must earn at least 14,000 riyals monthly, and executives vying for special talent status should be employed at the executive level, earning over 80,000 riyals monthly.

The skilled category is split into two sub-categories. In the first, applicants need approval from the Ministry of Culture and Sports or meet criteria set by both ministries.

Investors seeking permanent residency must invest seven million riyals and create at least ten jobs in the initial years.

Entrepreneur Residency applicants can nominate two staff members for special talent status. They must spend a minimum of 30 months in the kingdom, meet existing eligibility criteria, and secure a minimum $400,000 investment from a recognized organization, holding at least a 20% ownership stake in the startup.

Direct permanent residence applicants in the second category must invest a minimum of one and a half crore riyals, create ten jobs in the first year, ten or more jobs in the second year, and provide proof of a 10% share in the business venture.

To qualify for Real Estate Residency, property ownership worth at least 4 million riyals, free from current and future debts, is required.

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