1. Overview
Saudi Arabia's Premium Residency Centre has announced the launch of five new types of premium residency in Saudi Arabia. It aims to bring talent and investment to significantly contribute to the Kingdom's economy.
Individuals holding the Saudi Premium Residency have the privilege of residing in the Kingdom for an extended term, with the option to choose between a renewable one-year duration or an unlimited period, based on the selected plan during the application process.
Premium Residency holders will be able to manage businesses, own real estate, and obtain work permits for themselves and their family members, among other benefits.
2. Type of Saudi Premium Residency
The five new premium residency categories are as following below:
- Special Talent Residency
- Gifted Residency
- Investor Residency
- Entrepreneur Residency
- Real Estate Owner Residency
The Special Talent Residency category is designed for executives and professionals in healthcare, science, and research, with the goal of attracting individuals possessing unique expertise to contribute to knowledge and technological developments.
The Gifted Residency category focuses on integrating skilled professionals into the country's cultural and sports sectors.
The Investor Residency category targets individuals interested in exploring enhanced business opportunities in the country, aiming to generate impactful economic returns.
The Entrepreneur Residency category is aimed at ambitious entrepreneurs and innovative project owners, encouraging them to develop their start-ups within the country.
The Real Estate Owner Residency category is intended for individuals who own property in the country, providing them with an opportunity to enjoy an exceptional quality of life while benefiting from the thriving real estate market in the region.
3. Saudi Premium Residency for Family Members and Benefits
The Saudi Premium Residency offers cardholders' immediate family the right to live in Saudi Arabia without paying a dependent fee. Additionally, family members can work, reside, and invest freely, change jobs, and own property (excluding Mecca, Madina, and border areas). Premium residents can also own vehicles, travel in and out of Saudi Arabia without restrictions, and invest in the Saudi Capital Market.
4. Cost of Saudi Premium Residency
The unlimited plan for Saudi Premium Residency is priced at $213,320 (800,000 SAR), with the one-year plan costing $26,665 (100,000 SAR), both of which require upfront payment.
Individuals applying under the five new categories will find the Premium Residency available at a cost of $1,066 (SAR 4,000).
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
