detail about saudi premium residency visa

Overview of the Premium Residency Program

Saudi Arabia, with a foreign population comprising 40 percent, is intensifying efforts to attract talent and investments. Recently, the Premium Residency Program expanded with five new visa categories, aligning with Crown Prince Mohammed bin Salman's Saudi Vision 2030 for economic diversification. The program, initiated in 2019, grants long-term residency without a local sponsor, a departure from previous residency rules. It exempts holders from certain fees, offers visa-free travel, and allows real estate and business ownership, aligning with Vision 2030's goal to draw global talent and investment.

Existing Premium Residency Options

Initially, two options existed: a one-year residency with a SAR100,000 annual fee and proof of financial stability, and a permanent residency at SAR800,000 with unlimited duration. Expanding the program, five new visas aim to attract professionals, skilled individuals, investors, and entrepreneurs to the Middle East's largest economy.

1.   Special Talent Residency

·         Targets high-level professionals in healthcare, science, and research.

·         Requires an approved employment contract and a Bachelor’s degree or higher.

·         Minimum monthly income criteria for healthcare/science professionals and executives.

2.   Gifted Residency

·         Focuses on skilled professionals in cultural and sports sectors.

·         Eligibility includes nominations or awards from the Ministry of Culture and Ministry of Sports.

3.   Investor Residency

·         For investors looking to capitalize on Saudi Arabia’s business environment.

·         Offers permanent residency for SAR7 million investment and creation of 10 jobs within two years.

4.   Entrepreneur Residency

·         Targets entrepreneurs with varying investment and ownership thresholds.

·         Category 1: SAR400,000 investment with 20% ownership for a five-year residency.

·         Category 2: SAR15 million investment with 10% ownership for permanent residency.

5.   Real Estate Owner Residency

·         For property owners with assets valued at SAR4 million or more.

·         Residency duration based on the property ownership period.

Application Process

To apply for premium residency in Saudi Arabia, follow these steps:

1.   Register at the Premium Residency Portal

·         Click on "Register now" on the portal, providing personal information.

·         Verify your email address and phone number.

2.   Complete the Application Form

·         Log in, click "Request Premium Residency," and fill out the form with details about family, education, occupation, finances, etc.

3.   Submit Supporting Documents

·         Upload required documents, such as passport, ID, birth/marriage certificates, employment contract, and others.

·         Pay a one-time application fee of SAR4,000 for each category.

4.   Wait for Approval

·         The Premium Residency Center (PRC) will process and approve your application.

·         Upon approval, the residency visa will be issued.

This streamlined process aligns with Saudi Arabia's vision to position itself as a hub for global talent and investment.