Premium Residency
| Premium Residency | |
|---|---|
| Type of project | Governmental |
| Established | 2019 |
| Status | active |
| Website | saprc.gov.sa |
The Premium Residency, informally known as Saudi Green Card, is a residence permit in Saudi Arabia grants expatriates the right to live, work and own business and property in the Kingdom without need for a sponsor.[1] The new scheme aims to attract highly skilled and wealthy foreign nationals as well as investors and entrepreneurs.[2] The introduction of the Premium Residency comes as a part of Saudi Arabia's Vision 2030 reform plan, which was announced by Crown Prince Mohammed bin Salman to boost the Saudi economy.[3] The permanent residency is granted for $213,000 while the one-year renewable residency costs $26,660.[4]
Requirements[]
Qualifying applicants require to have a valid passport and evidence of sufficient financial resources. The renewable permit is issued one-year and will be renewable for an unlimited time.
Benefits[]
Eligible foreigners enjoy some benefits, including recruiting workers, owning businesses, property, and means of transportation. Generally, they will be granted equal rights to Saudis in most cases.[5][1]
References[]
- ^ a b "The Saudi 'Green Card' gets a green light". Arab News. 2019-05-12. Retrieved 2019-05-15.
- ^ Bridge, Sam. "Saudi Arabia approves plan for Green Card-style system". ArabianBusiness.com. Retrieved 2019-05-15.
- ^ "Saudi 'green card' online platform is open for business". Arab News. 2019-06-23. Retrieved 2019-08-07.
- ^ "Saudi Arabia launches special residency scheme to boost investment, non-oil revenue". Arab News. 2019-06-23. Retrieved 2019-06-23.
- ^ "Saudi Shura Council approves Green Card-style residence". gulfnews.com. Retrieved 2019-05-15.
External links[]
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- Saudi Arabian nationality law
- Residence permit
- 2019 establishments in Saudi Arabia
- Saudi Arabia stubs