Saudi Arabia: Qualify for Premium Residency with 'Limited Duration and Unlimited Duration"
Saudi Arabia has introduced six new Premium Residency categories as part of its efforts to attract investors, entrepreneurs, and highly skilled individuals to the country.
These visa options, collectively known as "premium residency products," aim to cater to individuals interested in real estate ownership, entrepreneurship, and those with exceptional talents seeking to relocate to Saudi Arabia.
Dr. Majid bin Abdullah Alkassabi, Chairman of the Board of the Premium Residency Center, announced these new visa categories in line with the vision of Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud.
The six premium residency options include:
- Special Talent Residency
- Gifted Residency
- Investor Residency
- Entrepreneur Residency
- Real Estate Owner Residency
- Limited Duration and Unlimited Duration Residency
The Limited Duration and Unlimited Duration Residency options are designed for individuals seeking either permanent or annual residency in Saudi Arabia. These options provide various benefits aligned with the desired lifestyle in the country, reflecting Saudi Arabia's commitment to creating a welcoming and progressive community.
Eligibility criteria for becoming a premium visa holder under the Limited Duration and Unlimited Duration categories include providing proof of the applicant's financial capability, subject to potential changes.
The Limited Duration Premium Residency offers a fixed-term residency ranging from one to five years, renewable, with an annual fee starting at SAR 100,000 (approximately AED 97,928.85) for each year, decreasing by 2 percent annually for applications exceeding one year.
The Unlimited Duration Premium Residency provides permanent residency for a one-time fee of SAR 800,000 (approximately AED 783,430.81).
Benefits of these Premium Residency options include the ability to reside in Saudi Arabia with family members, flexibility to move between establishments, exemption from expat fees, easy exit and return to Saudi Arabia without a visa, entitlement to obtain visit visas for relatives, use of dedicated airport tracks, permission to work in the private sector, and the ability to own and use real estate, among others.
