Investment and job opportunities within Saudi Arabia’s major companies have seen a notable increase and diversification recently. Many individuals are drawn to invest in the Kingdom of Saudi Arabia (KSA), while numerous young people are seeking employment opportunities. In response, Saudi Arabia has introduced the Premium Residency program to attract top talent and skilled professionals.
What is Saudi Premium Residency?
The Saudi Premium Residency program, also known as the Saudi Green Card, was launched to allow skilled professionals, entrepreneurs, and investors to live, work, and own businesses or property in Saudi Arabia. Introduced in 2019, the program aims to diversify and grow the Saudi economy while minimizing trade manipulation by foreign nationals. Premium residency permits the holder to stay in Saudi Arabia for a year or more, based on the type of residency.
What are the Saudi Premium Residency Products?
Initially, two premium residency options were launched in 2019: limited duration and unlimited duration premium residencies. In January 2024, five additional products were introduced, bringing the total to seven available options under the Premium Residency program.
Limited Duration Premium Residency
This option is the most straightforward, with minimal additional requirements, suitable for those on short-term assignments or looking to experience Saudi Arabia before committing long-term.
- Residence Duration: One year, renewable up to five years.
- Fees: 100,000 Saudi Riyals per year (with a 2% discount for multi-year advance payments).
Unlimited Duration Premium Residency
Designed for those wanting permanent residency with all associated benefits.
- Residence Duration: Permanent.
- Fees: 800,000 Saudi Riyals (one-time payment).
Real Estate Owner Residency
For investors interested in the real estate market without running a business.
- Eligibility: Ownership or usufruct rights to residential property worth at least SAR 4,000,000, free of mortgages.
Residence Duration: Linked to property ownership. - Fees: 4,000 Saudi Riyals plus property investment.
Investor Residency
Ideal for business investors.
- Eligibility: Minimum SAR 7,000,000 investment and valid investment license.
- Residence Duration: Available in 5-year renewable terms or permanent residency, conditional for the first two years.
- Path to Permanent Residency: Requires SAR 7,000,000 investment and creating 10 jobs within two years.
Entrepreneur Residency
For startup owners and innovators.
- Eligibility: Varies by category, requiring investment from accredited entities, a recommendation letter, and job creation.
- Residence Duration: 5-year renewable term or permanent residency based on job creation.
Special Talent Residency
For exceptional professionals in executive, healthcare, science, and research fields.
- Eligibility: Varies by role, including contracts, wages, and recommendation letters.
- Residence Duration: 5-year renewable term with a path to permanent residency.
Gifted Residency
For cultural and sports sector professionals.
- Eligibility: Based on exceptional awards, financial capability, and recommendations from relevant ministries.
- Residence Duration: 5-year renewable term or permanent residency.
Required Documents for Saudi Premium Residency Application
Applicants need to submit:
- Passport copies
- Personal photos
- Proof of financial capacity: Certified income proof, commercial registration, audited financial statements, investment portfolios, and bank statements.
- Medical report
- Proof of address
- Family member documents (if applicable)
Applying for Saudi Arabia Premium Residency
Applications can be submitted through the Premium Residence Centre either personally or via an appointed representative.
Steps to Apply:
- Create an Account: Register on the official portal.
- Fill Out the Application Form: Provide accurate information, including personal data and family details.
- Upload Required Documents: Submit all necessary documents.
- Pay the Application Fee: $170.
- Follow Up: Monitor application status and submit additional documents if needed.
Benefits of Premium Residency
Premium residency offers long-term residency in Saudi Arabia, allowing employment in the private sector, investment opportunities, and business management. Residency holders can own property (excluding Mecca, Medina, and border areas), access public services, include family members in their residency, and sponsor foreign domestic workers.