Premium Residency in Saudi Arabia

The Premium Residency in Saudi Arabia, provides foreign individuals with the opportunity to reside in the country while enjoying the privileges of working, owning businesses, and properties without the need for sponsorship. This initiative targets attracting skilled individuals, entrepreneurs, and investors to contribute to the growth of Saudi Arabia's economy. Since its introduction, the program has received significant global interest, showcasing a pivotal move towards economic diversification and the attraction of high-caliber talent and investments globally.

What is the Saudi Premium Residency?

Introduced in 2019 and colloquially dubbed the “Saudi Green Card”, the initiative initially offered two choices: a one-year residency with potential for extension (temporary) and a permanent residency (unlimited). Recent developments regarding the Saudi Green Card program entail notable changes.

As of early 2024, Saudi Arabia has expanded the Premium Residency initiative by simplifying the application process and broadening the qualifying criteria. This upgrade has introduced five fresh alternatives (referred to as products), aiming to appeal to a wider range of individuals, such as property owners, investors, innovators, outstanding talents, and proficient experts.

Eligibility Criteria

To be eligible for Premium Residency in Saudi Arabia, individuals must satisfy specific criteria, which can differ based on the type of Premium Residency sought. These prerequisites encompass factors such as a minimum age for the primary applicant, prescribed investment thresholds, or securing an endorsement from a pertinent authority, among other considerations. Nonetheless, there are overarching qualifications applicable to all applicants irrespective of the residency option chosen. These include:

• Ensuring that the primary applicant and any accompanying family members possess valid passports with a minimum validity period of six months at the time of application, devoid of any limitations hindering their return to Saudi Arabia.
• Demonstrating financial stability and the capacity to sustain themselves and their dependents throughout their residency in Saudi Arabia, typically substantiated through bank statements and relevant financial documentation.
• Maintaining a clean criminal record for all applicants and their family members, alongside granting consent for the Saudi Premium Residency Center to conduct background verifications with pertinent authorities in their nation of residence.
• Presenting evidence of good health by furnishing recent medical reports issued within the preceding six months by licensed medical facilities within Saudi Arabia or centers accredited by Saudi diplomatic missions abroad.
• If applying from within Saudi Arabia, providing proof of legal residency status within the country.

Family Members Eligible for Saudi Premium Residency

The relatives of Premium Resident holders are entitled to residency privileges, with no restriction on the number of family members they can have in Saudi Arabia. Spouses, children under 25, and parents are eligible for Premium Residence as dependents of the primary Premium Residency holders. Moreover, children with special needs and unmarried daughters over 25 can also attain residency as eligible family members of the primary Premium Residency holder.

Saudi Premium Residency Options

The Saudi Premium Residency program offers seven options catering to different needs:

• Limited Duration Residency: 1-5 years, renewable, suitable for short-term investors.
• Unlimited Duration Residency: Permanent residency with a one-time fee.
• Real Estate Owner Residency: Obtain residency by owning properties worth at least 4 million Saudi Riyals.
• Investor Residency: Invest 7 million Riyals and create 10 jobs for permanent residency.
• Entrepreneur Residency: Secure investments of 400,000 Riyals for a 5-year residency, with potential for permanent residency.
• Special Talent Residency: Tailored for professionals in leadership, healthcare, science, and research.
• Gifted Residency: Attracts individuals with exceptional skills in sports, culture, and arts for a 5-year residency.

Application Process

• Register on the Saudi Arabia Premium Residency portal.
• Fill out the application form with personal details.
• Upload required documents.
• Pay the processing fee of 170 USD.
• Review and submit your application.

Required Documents for Saudi Premium Residency Application

Please review and finalize your application by ensuring all provided information is accurate before clicking the "Submit" button. Required documents for application include:

• Saudi Iqama Number (if currently in Saudi Arabia or previously resided with an Iqama)
• Bank statement covering the last 12 months
• Proof of current address (such as a utility bill)
• Personal photographs of yourself and your family
• Copies of passports for both you and your family members
• Copies of all Saudi Arabia visas stamped on your passport from the past 15 years
• Medical reports for you and your dependents from a recognized healthcare institution certified by a Saudi diplomatic mission
• Proof of financial capacity, with all documents certified by the authorized Saudi diplomatic mission

For employees:

•  A certified salary statement from your employer
• For investors: A certified copy of the company's commercial registration document and an audited financial statement from a certified public accountant for the last 24 months
• Any additional supporting documents as required by the specific Premium Residency Product being applied for, which may include property ownership contracts, recommendation letters, or other relevant materials.

Saudi Premium Residency Cost

The fee required for obtaining a Premium residency in Saudi Arabia permit varies depending on the type of permit or category applied for. For instance, the annual cost for a Limited Duration Premium Residency Permit is 100,000 Saudi Riyals, while the Unlimited Duration Premium Residency entails a one-time fee of 800,000 Saudi Riyals. Other categories such as Business Investor Residency, Real Estate Owner Residency, Entrepreneur Residency, Special Talent Residency, and Gifted Residency all require a one-time payment of 4,000 Saudi Riyals. Additionally, there is a processing fee of 170 USD applicable to all applicants regardless of the chosen product.