Saudi Premium Residency
Saudi Premium Residency
The Saudi Premium Residency scheme, commonly known as the Saudi Green Card, provides a pathway for skilled workers, business owners, and investors to live, work, and own personal ventures or real estate within Saudi Arabia.
Targeted toward experienced professionals, business innovators, and individuals with exceptional abilities or resources, the program seeks to contribute to Saudi Arabia’s economic diversification and cultural vibrancy. The initiative caters specifically to top-tier professionals poised to bring about advancements in local expertise and knowledge exchange. Introduced in 2019, the program is part of the broader strategy to shift the Saudi economy away from its reliance on oil through the 2030 Vision reform, fostering a more open environment for international expertise and investments. The Saudi Premium Residency initiative aims to bolster Saudi Arabia’s appeal as a dynamic destination for economic, social, and cultural contributions.
There are multiple benefits associated with the Saudi Premium Residency. Because the program is designed to appeal to exceptional individuals from around the world, it offers some great benefits to encourage them to live, work, and invest in Saudi Arabia, including:
- Business opportunities
Premium residents can establish and manage businesses in Saudi Arabia, contributing to economic growth and job creation. Premium Residency holders can invest in the Saudi Capital market, own a foreign-owned onshore entity (with the appropriate license), and work in private organizations. Saudi Premium Residency gives you access to a thriving market and allows you to participate in various sectors without the need for a local sponsor.
- Visa-free entry and exit
Premium Residency holders have unrestricted entry and exit privileges, allowing them to travel in and out of Saudi Arabia without needing to apply for a visa. This is an important advantage for many residents, as it allows unlimited international travel for business, leisure, or personal reasons. When re-entering Saudi Arabia, Premium Residency holders can use the fast lanes designated for residents.
- Eligibility for permanent residency
Premium Residency holders who maintain their product eligibility criteria for a minimum time may be able to apply for permanent residency in Saudi Arabia. To be eligible for permanent residency, you usually need to be a resident of Saudi Arabia for at least 30 months within five consecutive or non-consecutive years.
- Family residency
Immediate family members of premium residency holders can apply for a residence permit in Saudi Arabia and have the right to live, work, and invest in Saudi Arabia. Family members will also be able to exit and return to Saudi Arabia without needing a visa. Additionally, premium residents are entitled to apply for visitor visas for any relatives planning to visit them in Saudi.
- Real estate ownership
Premium Residency holders are allowed to own residential, commercial, and industrial property in Saudi Arabia, providing them with opportunities for investment and long-term stability and the opportunity to benefit from potential appreciation.
The Saudi Premium Residency requires you to meet specific eligibility criteria set by the government. The eligibility criteria ensure that individuals granted Premium Residency in Saudi Arabia contribute positively to society, comply with laws, and can financially support themselves while residing in the country. To qualify for Premium Residency, you must meet the following conditions:
- Minimum age You must be at least 21 years old at the time of the application.
- Good health You must undergo a medical examination to ensure you are in good health and do not have any contagious diseases.
- Clean criminal record You must not have any criminal conviction or a history of serious offenses that could pose a risk to public safety or security.
- Financial solvency You must demonstrate sufficient financial resources to support yourself and any dependents during your stay in Saudi Arabia. You may be asked to provide evidence of your finances.
Special Talent Residency
This type of residency is designed for professionals in executive leadership, healthcare, science, and research. The professional should be exceptional in their field and be able to contribute to the development of local capabilities and the exchange of knowledge.
The eligibility criteria for a Special Talent Residency differs depending on your role:
1.Researchers
- An employment contract from an approved entity with priority specialization.
- A monthly wage of at least SAR 14,000.
- A minimum of a bachelor’s degree.
- A minimum of three years’ work experience in a relevant field.
- A recommendation letter from your employer.
- At least three pieces of research in the relevant field.
- The minimum score in the points system.
2.Healthcare and Scientific Professionals
- An employment contract from an approved entity with priority specialization.
- A monthly wage of at least SAR 35,000.
- A minimum of a bachelor’s degree.
- The minimum score in the points system.
- A recommendation letter from your employer.
- A minimum of three years’ work experience in a relevant field.
3.Executives
- An employment contract for executives at Level 1 or 2.
- A monthly wage of at least SAR 80,000.
- A recommendation letter from your employer (Level 2).
Gifted Residency
This type of residency is designed for skilled professionals and talented individuals in the cultural and sports sectors.
The eligibility criteria for a Gifted Residency differs depending on the type of category you belong to:
A – First Category
- Nominated for or a recipient of a specified exceptional award.
- A recommendation from the Ministry of Culture, or the Ministry of Sport based on your field.
- You meet the minimum financial capability.
B – Second Category
- You fulfill the minimum eligibility criteria approved by the Ministry of Culture or Ministry of Sport.
- A recommendation from the Ministry of Culture, or the Ministry of Sport based on your field.
- You meet the minimum financial capability.
The Gifted Residency is a 5-year fixed-term residency.
If you meet the product eligibility criteria, the residency is renewable once, as long as you have been resident in the Kingdom for at least
30 months during the 5-year term. If you meet the conditions and have an endorsement from the Ministry of Culture or the Ministry of
Sport, you may also be able to apply for permanent residency.
Investor Residency
Investor Residency is aimed at investors who want to conduct business and make investments in Saudi Arabia. Saudi Arabia is one of the fastest-growing economies in the world and offers good investment opportunities that make it an attractive destination for investors from around the world.
To be eligible for the Investor Residency, you must:
- Hold a valid investment license issued by the Ministry of Investment, for an investment of at least SAR 7,000,000 (as the applicant’s share) in economic activities in Saudi Arabia.
- Hold a valid Commercial Registration.
- Have a Memorandum of Association showing your investor shares. Unlike other Premium Residencies, the Investor Residency is available as a 5-year term, a renewable term, or as a permanent residency (conditional in the first two years). The duration you are eligible for depends on the value of your investment.
Unlike other Premium Residencies, the Investor Residency is available as a 5-year term, a renewable term, or as a permanent residency (conditional in the first two years). The duration you are eligible for depends on the value of your investment.
The Investor Residency has an advantage over other Premium Residencies as there is a path to directly obtain Saudi permanent residency. To achieve permanent residency, you will need to inject a minimum of SAR 7,000,000 and create at least 10 jobs during the first two years of your residency.
Entrepreneur Residency
The Entrepreneur Residency is aimed at entrepreneurs, startup owners, and innovators who want to launch and/or develop their start-up companies in Saudi Arabia and develop sectors in Saudi Arabia. Entrepreneur residents can nominate two members of staff for the Special Talent Residency. These staff members are exempt from the residency eligibility criteria. The Entrepreneur Residency is designed to encourage the Kingdom’s economic transformation journey.
The eligibility criteria for the Entrepreneur Residency differs depending on the type of category you belong to:
First Category
- An entrepreneur license from the Ministry of Investment.
- A minimum of SAR 400,000 as an investment from an entity that is accredited with the Ministry of Investment.
- A recommendation letter from your investment entity.
- A minimum of a 20% share in the company.
Second Category
- An entrepreneur license from the Ministry of Investment.
- A minimum of SAR 15,000,000 as an investment from an entity that is accredited with the Ministry of Investment.
- A recommendation letter from your investment entity.
- A minimum of a 10% share in the start-up company.
- You must create a minimum of 10 jobs during the first year and a minimum of 10 additional jobs in the second year.