Wednesday, April 17, 2024

New Premium Categories Open Doors for Residents to Buy and Invest in Saudi Arabia

  • The Unlimited plan is priced at SR800,000, while the one-year plan costs SR100,000, both offering a series of benefits.
  • Eligible applicants now have the opportunity to register for a permit, granting them the privilege to live and work in the Kingdom. Additionally, this permit offers benefits such as exemption from expat and dependents fees.

Saudi Arabia has introduced five new categories, enabling eligible applicants to apply for a residency permit. This initiative is designed to simplify the application process for residents interested in the visa scheme.

The newly added categories include skilled and talented individuals (specialists, executives), talents (cultural, sports), investors, entrepreneurs, and property owners.

Saudi Arabia is now offering eligible applicants the opportunity to apply for a residency permit, allowing them to reside and work in the Kingdom. This permit, which comes with a one-time fee of SR4,000 ($1,066), not only exempts individuals from expat and dependents fees but also provides foreign nationals the right to own businesses and property in the country without the need for a sponsor.

Under this residency permit, individuals are granted the privilege to own various types of properties, including residential, commercial, and industrial, throughout Saudi Arabia, with the exception of Mecca, Madina, and the border regions.

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Premium status for family

Saudi Arabia has introduced premium residency status for family members of permit holders, offering a range of benefits such as the ability to run businesses, conduct fee-free money transfers, and host or invite relatives.

Residency permit holders can choose between a one-year plan, costing $26,665 (SR100,000), and an unlimited plan priced at $213,320 (SR800,000). Premium residents have the flexibility to stay in the Kingdom for an extended period, either one year (renewable) or an unlimited duration, depending on the chosen plan.

This premium residency also permits unrestricted entry and exit from Saudi Arabia and allows investment in the Saudi Capital Market.

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