Saudi Arabia

Saudi Premium Residency, often called the “Saudi Green Card,” is a residence permit in Saudi Arabia that grants foreign nationals the right to live, work, and own businesses and property in the Kingdom without requiring a sponsor.  This program aims to attract talents, skilled professionals, entrepreneurs, and investors to Saudi Arabia to boost the country’s economy. Launched in 2019, it has garnered substantial international attention, signifying a major step in diversifying the Saudi economy and attracting top-tier talent and investments worldwide. Introduction to Saudi Premium Residency Saudi Premium Residency program initially provided two options: a one-year residency with the possibility of renewal (limited duration) and a permanent (unlimited duration) residency. In early 2024, Saudi Arabia expanded the Premium Residency program by streamlining the application process and expanding the eligibility criteria. This enhancement introduced five new options (referred to as products), designed to attract a broader spectrum of individuals, including real estate owners, business investors, entrepreneurs, exceptional talents, and skilled professionals. Eligibility Criteria  To qualify for Saudi Premium Residency, applicants must meet specific requirements. These requirements may vary depending on the specific Premium Residency product being applied for, but there are general eligibility criteria that all applicants must fulfill, regardless of the residency product: Valid Passport The main applicant and any family members included in the application must have valid passports with a minimum validity of six months at the time of application. Their passports should not contain any restrictions that could prevent them from returning to Saudi Arabia at any time. Financial Solvency The main applicant must demonstrate financial solvency and the ability to support themselves and their family members during their stay in Saudi Arabia. This can be proven through bank statements and other financial documents. Clean Criminal Record All applicants and their family members must have a clean criminal record. The applicant must also consent to allow the Saudi Premium Residency Center to conduct background checks with the relevant authorities in their country of residence. Health Requirements A recent medical report verified that applicants and their family members must be free from communicable diseases. This report must be issued within the last six months by a licensed medical center in Saudi Arabia or a center certified by Saudi diplomatic missions abroad. Legal Residency Proof If applying from within Saudi Arabia, the applicant must provide proof of legal residency in the country. You May Also Read: Premium Residency Program Last Updates in Saudi Arabia Family Members Eligible for Saudi Premium Residency Family members of Premium Resident holders will also receive residency privileges. There is no limit to the number of family members a Premium Resident can have within Saudi Arabia. Eligible family members include spouses, children under 25 years old, and parents. Additionally, children with special needs, regardless of their age, as well as unmarried daughters over the age of 25, may also obtain residency as eligible family members of the main Premium Residency holder. What is the Application Process With the “Saudi Green Card”, individuals can recruit foreign domestic workers and arrange their residency with a housemaid visa or a domestic worker visa. Another benefit is that in the event of the Saudi Premium Residency holder’s passing, their family members who have been granted Premium Residency will retain their “KSA green card” rights and benefits. Account Registration On the Saudi Arabia Premium Residency portal, click on the “register now” option to create an account. Fill out the registration form with your personal information. You will need to include your full name, passport details, email address, and phone number. You will need to verify your email address and phone number. Complete the Application Form Now that you have an account, login and click on the “Request Premium Residency” option. Here, you can fill out the application form. You will be asked various details such as personal information, information about your family, your education, your occupation, your finances, and other general information. Document Submission You will be required to upload supporting documents, such as scans of your passport, ID, birth certificate, marriage certificate, bank statement, employment contract, and various other relevant documents. After you have completed this, you will pay the application processing fee of 170 USD, which can be paid through the portal online. Review and Submission review the application and submit it for processing. What Are The Required Documentation for Premium Residency Application Applicants aiming to secure Saudi Premium Residency must gather and submit a comprehensive array of supporting documents. These documents are crucial to demonstrate the eligibility and compliance of the applicant with the residency requirements. The required documentation includes: Saudi Iqama Number (if applicable): For applicants currently residing in Saudi Arabia, providing the Iqama number helps in verifying their residency status and history within the Kingdom. Bank Statements for the Previous 12 Months: These statements are necessary to assess the applicant’s financial stability and capability to support themselves and their dependents while residing in Saudi Arabia. Proof of Current Address: This includes utility bills, lease agreements, or other official documents that confirm the applicant’s residential address. Personal Photographs of the Applicant and Family Members: Recent passport-sized photographs are required for identification purposes. Passport Copies and Saudi Visas: Copies of all relevant passport pages and visas must be submitted to verify the applicant’s identity and travel history. Medical Reports from Accredited Healthcare Providers: Health examinations and reports from accredited medical facilities ensure that the applicant and their family members meet the health standards required for residency. Financial Capacity Documentation: This includes certified salary statements or commercial registration documents for investors, proving the applicant’s financial capacity to sustain their residency in Saudi Arabia. Saudi Premium Residency Costs The costs associated with obtaining Saudi Premium Residency are structured according to the type of residency product chosen by the applicant: Limited Duration: This option entails an annual fee of 100,000 Saudi Riyals, offering residency that must be renewed every year. Unlimited Duration: For those seeking permanent residency, a one-time fee of 800,000 Saudi Riyals is required. Other Products: A one-time fee of 4,000 Saudi Riyals applies to specific residency categories designed for particular needs or short-term stays. Application Processing Fee: Regardless of the residency type, there is a standard processing fee of 170 USD, covering administrative and processing costs. You May Also Read: How To Split-Up Your Company Into Multiple Companies According To Saudi Regulations Validity and Renewal The validity and renewal terms of Saudi Premium Residency vary based on the specific product chosen by the applicant: Limited Duration: Valid for one year, this residency option can be renewed annually, subject to compliance with the residency requirements. Unlimited Duration: This provides permanent residency status, eliminating the need for periodic renewals. Real Estate Owner: The residency remains valid for the duration of property ownership, aligning the residency period with the property investment. Investor: Permanent residency is granted, with specific conditions to be met during the initial investment phase to ensure compliance. Entrepreneur: Offering a five-year renewable term, this option can potentially lead to permanent residency, encouraging long-term business investment in Saudi Arabia. Special Talent and Gifted: A five-year renewable term is provided, with pathways to permanent residency for individuals demonstrating exceptional skills or talents. Saudi Premium Residency Options The Saudi Premium Residency program offers seven options, officially termed Premium Residency Products, designed to cater to the varying needs of individuals seeking residency in the Kingdom of Saudi Arabia. These products allow applicants to choose the option that best suits their individual goals and preferences: Limited Duration Premium Residency Issued for a period of one to five years with the possibility of renewal, this option requires an annual fee of 100,000 Saudi Riyals (approximately 26,670 US Dollars). Applicants opting for a period longer than one year are eligible for a 2% fee reduction, provided the payment is made in advance to benefit from the cumulative discount. This product is particularly suitable for investors or businessmen interested in executing specific-term investment projects in Saudi Arabia. It is also recommended for those who wish to explore the daily lifestyle, business environment, and investment opportunities in Saudi Arabia before considering permanent residency. In addition to the general eligibility criteria, applicants for this product must be at least 21 years old. Unlimited Duration Premium Residency This product offers permanent residency in Saudi Arabia, with a one-time fee of 800,000 Saudi Riyals (approximately 213,340 US Dollars). The main applicant must also be at least 21 years old. This option is especially suitable for those seeking long-term residency without the need for annual renewal, making it an attractive choice for individuals aiming to permanently relocate to Saudi Arabia or maintain a permanent residency permit in the country. Real Estate Owner Residency Foreign nationals can obtain Premium Residency by owning or holding usufruct rights to residential properties in Saudi Arabia. The property’s value must be at least four million Saudi Riyals. To be eligible, the property must be residential, already developed, and appraised by valuers accredited by the Saudi Authority (TAQEEM) to meet or exceed the minimum required property value. The purchase of properties through real estate financing, as well as mortgaging the properties, either before or after obtaining Premium Residency, is not permitted. For this product, the duration of the granted Premium Residency corresponds to the period of property ownership. Investor Residency This product provides foreign businessmen and investors with the opportunity to invest in Saudi Arabia while simultaneously obtaining permanent Premium Residency, offering a dual benefit. Saudi Arabia, known as one of the largest markets in the region and a compelling investment environment due to its robust economy and positive growth indicators, offers diverse fields and activities for investment. To qualify for this option, the applicant must hold an investment license in Saudi Arabia and, within the first two years, invest at least 7 million Saudi Riyals and create a minimum of 10 job opportunities in the country. Entrepreneur Residency Entrepreneurs and startup owners can also qualify for Premium Residency in Saudi Arabia, provided their ventures secure investments or investment rounds of at least 400,000 Saudi Riyals from venture capital funds or incubators recognized by the Premium Residency Center. Entrepreneurs must obtain an entrepreneurial license from the Saudi Ministry of Investment and a recommendation letter from the investing entity. Entrepreneurs are granted a five-year residency, which is renewable provided they maintain a minimum 20% ownership stake in the venture. Permanent residency may be awarded if the venture’s investment reaches 15 million Saudi Riyals, the entrepreneur retains at least 10% ownership in the company, and creates 10 job opportunities annually during the first two years. A notable advantage of this product is that the startup company benefits from an exemption from the Saudi localization program (Nitaqat) during its first three years of operation. Additionally, entrepreneurs have the opportunity to nominate two staff members for Premium Residency under the category of Special Talents as executives. Special Talent Residency The Saudi Premium Residency program is tailored for exceptional professionals in executive leadership, healthcare, science, and research, providing those with employment contracts in these specific fields the opportunity to obtain residency in Saudi Arabia. This residency is valid for five years, with the possibility of renewal and potential conversion to permanent residency. Additionally, it offers an exemption from the Nitaqat program. This product offers two primary pathways. The first caters to professionals in research, science, and healthcare. It requires at least a bachelor’s degree, a minimum of three years of experience in the relevant field, achievement of the necessary points as outlined by the point system of the Premium Residency Center, a recommendation letter from the employer, submission of three research papers within the field, and a minimum monthly salary of 14,000 Saudi Riyals for researchers and 35,000 Saudi Riyals for science and healthcare professionals. The second pathway is designed for executive-level professionals and also requires a recommendation letter from the employer, along with a minimum monthly salary of 80,000 Saudi Riyals. Gifted Residency Through this product, Saudi Arabia seeks to attract individuals with exceptional skills and achievements in a range of sports, cultural, and artistic fields. Those who qualify in these categories will be granted Premium Residency for five years, with the possibility of renewal and potential conversion to permanent residency. Additionally, they will receive an exemption from the Saudization program (Nitaqat). This category encompasses various Olympic sports like football, handball, basketball, volleyball, swimming, combat sports, athletics, and more, as well as literary and artistic fields such as music, writing, design, theater, cinema, and others. Applicants in this category must obtain a recommendation from a relevant Saudi authority such as the Ministry of Culture or the Ministry of Sports. They must also meet one of two conditions: either be nominated or receive an exceptional award, or fulfill the eligibility criteria set by the concerned ministry based on the field of application. Benefits of Saudi Premium Residency The Saudi Premium Residency program offers a multitude of benefits that make it an attractive option for foreign nationals: Family Privileges: Residency rights extend to spouses and dependents without additional fees, fostering family unity and stability. Property Ownership: Residency holders can own residential, commercial, and industrial properties, although certain regions may be excluded to preserve cultural and national interests. Business Opportunities: Premium Residency provides access to Saudi Capital Markets, enhances employment flexibility, and allows job transitions without the need for sponsorship, thus fostering economic integration. Convenient Travel: Unrestricted entry and exit from Saudi Arabia are facilitated via designated resident lanes at airports, streamlining travel processes. Additional Benefits: Residency holders can employ foreign domestic workers, ensuring household support, and family residency rights are retained in the event of the principal holder’s demise, offering security and continuity. The Saudi Premium Residency program represents a transformative opportunity for foreign nationals seeking to establish roots in Saudi Arabia. With its diverse range of residency options and transparent eligibility criteria, the program provides a flexible pathway to long-term residency. This initiative not only enhances the quality of life for residents but also bolsters Saudi Arabia’s economic vitality and global standing.  

Batic Law Firm is proud to sponsor the upcoming event organized by the International Association of Young Lawyers (AIJA), taking place in Riyadh on November 28, 2024. AIJA is a global association dedicated to supporting young legal professionals through education, networking opportunities, and fostering international cooperation. This prestigious event is an excellent platform to discuss legal developments and foster connections among industry leaders and professionals. About AIJA AIJA is the only global association devoted to young lawyers and in-house counsel, offering a dynamic environment for legal professionals under 45 to connect and collaborate. With over 4,000 members from 90 countries, AIJA is renowned for its focus on international legal issues, innovative practices, and professional development. The organization promotes the exchange of knowledge through annual congresses, events, and specialized working sessions, making it a key player in shaping the next generation of legal thought leaders. Event Highlights The AIJA event in Riyadh will bring together top legal professionals and experts to explore critical topics impacting the Middle East and North Africa (MENA) region, including: Foreign Direct Investment (FDI): Insights into the growing FDI in MENA, especially within the Gulf Cooperation Council (GCC), where economic diversification initiatives have created opportunities for 100% foreign ownership and non-oil sector incentives. Startup Ecosystem: The role of accelerators, incubators, and golden visa programs in fostering innovation and supporting local and foreign tech startups. Intellectual Property (IP) Evolution: A focus on trademark and patent rights as the region strengthens its IP regimes. Restructuring and Insolvency: Developments in regulations and the rise of global restructuring firms in the MENA market. Abdulrahman Alammar: Representing Batic Law Firm A key highlight of the event is the participation of Abdulrahman Alammar, a distinguished representative from Batic Law Firm. Abdulrahman will join an esteemed panel to discuss foreign direct investment and the evolving legal frameworks in the MENA region. With extensive experience in corporate law and international transactions, Abdulrahman’s insights will provide a valuable perspective on the legal developments enabling economic diversification in Saudi Arabia. He will be sharing the stage with renowned international experts: Ahmed Elnaggar (Moderator), Elnaggar & Partners, UAE Christoph Allmendinger, SZA, Germany Azmul Haque, Collyer Law, Singapore Why This Event Matters Saudi Arabia, under Vision 2030, is at the forefront of economic transformation in the MENA region. Initiatives such as full foreign ownership, golden visas, and the development of robust intellectual property and insolvency laws reflect the Kingdom’s commitment to becoming a global business hub. This event aligns with these national priorities by offering an intellectual forum for discussing the legal challenges and opportunities tied to this transformation. Batic Law Firm’s Role in Driving Legal Innovation Batic Law Firm’s sponsorship of the AIJA event underscores its commitment to fostering legal innovation and supporting initiatives that promote global collaboration. As a leader in corporate law, dispute resolution, and investment advisory, Batic Law Firm is actively shaping the legal landscape in Saudi Arabia to meet the demands of a rapidly evolving economy. Join Us The AIJA event promises to be a pivotal gathering for anyone invested in the legal, economic, and business evolution of the MENA region. Batic Law Firm invites professionals and stakeholders to join this event to exchange ideas, gain valuable insights, and network with leading legal minds.  

Batic Law Firm proudly announces its shortlisting in three prestigious categories at The Oath Middle East Legal Awards 2024, set to honor legal excellence across the region. Since its inception in 2015, The Oath Awards have celebrated firms and professionals who have set new standards in the legal industry. With categories like Emerging Law Firm of the Year, Law Firm of the Year – KSA, and Corporate Team of the Year, the awards recognize landmark achievements and innovation in legal services. Batic Law Firm has consistently demonstrated a commitment to advancing legal excellence and innovation in Saudi Arabia and beyond. Recognized in these categories, Batic’s dedicated team is passionate about providing clients with unparalleled support in corporate law, dispute resolution, and compliance. Each of these shortlists reflects Batic’s emphasis on expertise, integrity, and impactful legal solutions in alignment with client and industry needs. The award ceremony, scheduled for November 27, 2024, in Dubai, will gather the brightest legal minds across the Middle East. Batic Law Firm is honored to be among the top firms recognized and looks forward to celebrating with peers in the industry. This acknowledgment strengthens our commitment to raising standards and delivering exceptional service in the legal sector.