Premium Residency Program in Saudi Arabia
The Kingdom of Saudi Arabia launched the Premium Residency Program, often referred to as the Saudi “Green Card,” in 2019 to boost the competitiveness of its economy and attract entrepreneurs and investors who aim to conduct business legally in the country. This initiative also aims to combat commercial cover-ups, where non-Saudis operate businesses under the license of Saudi citizens or licensed foreign investors.
Initially, the program offered two options:
Limited-Term Residency
– renewable annually.Unlimited-Term Residency
– granting permanent residency.
In January 2024, Saudi Arabia expanded the program, introducing five new categories:
- Property Owner
- Business Investor
- Entrepreneur Talent
- Distinguished Competence residencies.
Benefits of Premium Residency
Holders of the Premium Residency and their eligible family members enjoy several privileges:
- Residing, working, and conducting business activities in Saudi Arabia.
- Recruiting domestic workers based on personal needs.
- Issuing visit visas for relatives.
- Owning property for residential, commercial, or industrial purposes (except in Mecca, Medina, and border areas). Properties in Mecca and Medina can be used under a 99-year usufruct agreement.
- Investing in the Saudi stock exchange.
- Owning vehicles and other transport assets.
- Free entry and exit from Saudi Arabia without restrictions.
- Using Saudi citizens’ designated airport lanes.
- Family members retain residency benefits in case of the principal resident’s death.
Types of Premium Residency
1.Limited-Term Residency
Available for one year (renewable for up to five years).
Costs SAR 100,000 annually, with a 2% discount for multi-year payments upfront.
Ideal for short-term projects or those exploring Saudi Arabia before committing to permanent residency.
2.Unlimited-Term Residency
A one-time payment of SAR 800,000 grants lifetime residency.
Includes family members (spouse, children under 25, and parents) without additional fees.
3.Property Owner Residency
Granted to those owning residential property worth a minimum of SAR 4 million.
Property must be complete, unencumbered, and not under construction.
Duration of residency depends on property ownership or usufruct.
4.Business Investor Residency
Requires a minimum investment of SAR 7 million and creation of 10 jobs within two years.
Applicants must hold a valid investment license and prove their business ownership through official documents.
5.Entrepreneur Residency
Reserved for startup founders with investments exceeding SAR 400,000 or SAR 15 million (depending on the subcategory).
Grants residency for five years, renewable, or permanent for higher investments.
6.Exceptional Talent Residency
Available to top professionals in science, healthcare, research, or management, with a salary between SAR 14,000–80,000.
Requires a recommendation letter from their employer.
7.Talent Residency
Designed for exceptional individuals in sports, culture, or the arts, with recognition from relevant Saudi entities.
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Eligibility Requirements
General requirements include:
Valid passport for the applicant and eligible family members (minimum 6 months validity).
Clean criminal record.
Proof of financial solvency.
Medical report confirming good health.
Legal residency in Saudi Arabia during application (if applying locally).
