The Saudi Premium Residency

The Saudi Premium Residency Program, also known as the Saudi Green Card, allows qualified professionals, entrepreneurs, and investors to live, work, and own businesses or property in Saudi Arabia.

It is designed to attract qualified professionals, entrepreneurs, talents and investors who want to reside in Saudi Arabia and aims to promote economic growth and cultural exchange and targets exceptional professionals who can contribute to the development of local capacity and knowledge exchange.

The premium residency program was launched in 2019 as a way to develop and diversify the Saudi economy beyond oil and promote economic growth and cultural exchange. The Green Card of Saudi Arabia, or KSA Green Card, was introduced as part of Saudi Arabia’s Vision 2030 reform plan to open the country to global talent and investment. 

It aims to improve the country’s competitiveness by attracting top-level foreign talent and investment. The Saudi Premium Residency program aims to increase the economic, social, and cultural diversity of Saudi Arabia.

For those interested in navigating the complexities of this program, al othman law firm provides expert guidance and comprehensive legal services to ensure a smooth application process. 

Their experienced team can assist with all aspects of the Saudi Premium Residency, making them a trusted partner for individuals and businesses looking to invest in Saudi Arabia.

 

Types of Premium Residency: 

• Limited Duration Premium Residency: 

Limited Time Premium Residence offers temporary residence to people who meet specific eligibility criteria. This option is designed for people residing in Saudi Arabia for assignments, projects, or short-term activities. This option is recommended for investors or entrepreneurs looking to make short-term investments in Saudi Arabia. It is also ideal for people who want to experience the country’s daily life, business landscape, and investment potential before committing to permanent residence. The duration of this stay is determined by the circumstances of the applicant, with the possibility of extension or renewal.

• Eligibility : The premium stay of limited duration has several eligibility requirements, including:
  • You must have a valid reason for applying for temporary residency, such as employment, business, study, or medical treatment.
  • You must meet the general eligibility requirements for Saudi premium residency.
• Duration: A fixed stay from one to five years is available.
• Renewal: Some people who benefit from a premium residence of limited duration have the option to renew their residence for an additional period, depending on factors such as the purpose of their stay and their compliance with residency requirements.

• Unlimited Duration Premium Residency: 

offers permanent resident status to qualified individuals. This option is intended for those  who seek to establish permanent roots in Saudi Arabia and enjoy all the benefits of an indefinite stay. Unlimited premium residency allows foreign nationals to fully integrate into Saudi society and contribute to the country’s growth and  development. 

• Eligibility: Unlimited premium residency has several eligibility requirements,  including: 
  • You may be required to invest a certain amount of capital or demonstrate your contribution to the Saudi economy through businesses, investments, or other means. 
  • You must meet the general eligibility requirements for the Premium Residency.
• Duration: permanent. 
• Renewal: because Unlimited Premium Residency offers permanent residency, you are eligible to stay in Saudi Arabia indefinitely. This type of residence permit usually does not have an expiration date.

How to qualify for Premium Residency in Saudi Arabia:

Saudi Premium Residency requires you to meet specific eligibility criteria set by the government. Eligibility criteria ensure that individuals benefiting from Premium Residency in Saudi Arabia contribute positively to society, abide by the laws, and support themselves financially while in the country. To  benefit from Premium  Residence, you must meet the following conditions:

• Minimum age: You must be at least 21 years old at the time of application.
• Good health: You must undergo a medical examination to ensure that you are in good health and free of any  communicable disease.
• A clean criminal record: You must not have a criminal conviction or any history of serious crimes that could be a risk to your public safety or security. 
• Financial solvency: You must demonstrate sufficient financial resources to support yourself and your dependents during your stay in Saudi Arabia. You may be asked to provide proof of your finances.

Saudi Premium Residency Products: 

Saudi Arabia’s Premium Residency Program offers seven different options, called Premium Residency Products. These products are designed to meet different requirements. For those seeking professional assistance in navigating these options, an international law firm in Riyadh | Al Othman Attorneys and Consultants provides expert legal services. Their experienced team is well-versed in the intricacies of the Premium Residency Program, ensuring that applicants receive tailored advice and support throughout the process.

• Special Talent Residence:

This type of residence is designed for professionals in executive management, health, science, and research. The professional must be exceptional in their field and able to contribute to local capacity building and knowledge sharing. 

Eligibility criteria for a Special Talent Residency vary depending on your role: 

• Researchers : 
  • An employment contract from an approved entity with priority specialization. 
  • Monthly salary of at least SAR 14,000.
  • A minimum bachelor’s degree.
  • A minimum of three years of professional experience in a relevant field. 
  • A letter of recommendation from your employer.
  • At least three research papers in the relevant field.
  • Minimum score in the points system. 
• Health and science professionals: 
  • Contractual employment from an approved subject with priority specialization.
  • A monthly salary of at least SAR 35,000.
  • A minimum bachelor’s degree.Minimum grade in the points system.
  • A letter of recommendation from your employer.

• A minimum of three years of professional experience in a relevant field.

• Executive:

• An employment contract for level 1 or  2 managers.A monthly salary of at least SAR 80,000.
• A  letter of recommendation from your employer  (level 2). 

• • Duration: The Special Talent Residency is a residency with a fixed term of 5 years.
  • Renewal and permanent residency:  If you meet the eligibility criteria of the product, the residency is renewable for a term. If you meet the requirements, you can also apply for a permanent visa to Saudi Arabia.

• Talent Residency:

This type of residency is designed for qualified professionals and talented people in the cultural and sports sectors.

Eligibility:  eligibility criteria for a Talent Residency vary according to the type of category you belong to:

• A – First category : 
  • nomination or recipient of a special award.
  • A recommendation from the Ministry of Culture or the Ministry of Sport, depending on your field.
  • You meet the minimum financial possibilities. 
• B- The second category :
  • has the minimum eligibility criteria approved by the Ministry of Culture or the Ministry of Sports.
  •  A recommendation from the Ministry of the Culture or the Ministry of Sports depending on your field. 
  • Meet the minimum financial possibilities.

• Duration : The residency for talent is a residency with a fixed term of 5 years. 
• Renewal and permanent residence: If you meet the eligibility criteria of the product, the residence is renewed once, as long as you have lived in the United Kingdom. 

You must have lived in the UK for at least 30 months during the 5-year period. 

If you meet the requirements and have the approval of the Ministry of Culture or the Ministry of Sports, you can also apply for permanent residence.

• Investor Residency

The Investor Residency is intended for investors who want to do business and make investments in Saudi Arabia. Saudi Arabia is one of the fastest-growing economies in the world and offers good investment opportunities that make it an attractive destination for investors from around the world.

 

• • Eligibility:
    • To qualify for investor residency, must: 
    • Have a valid investment license issued by the Ministry of Investment, for an investment of at least SAR 7,000,000 (as part of the applicant) in economic activities in Saudi Arabia.
    • Have a valid business registration. 
    • Have a Memorandum of Association showing your investor shares.
  • Duration: 
    • Unlike other premium residencies, investor residency is offered as a 5-year term, with a renewable term, or permanent residence (conditional for the first two years). The length of time to qualify depends on the value of your investment. 
  • Renewal and Permanent Residence:
    • The investor residence has an advantage over other premium residences because there is a way to obtain Saudi permanent residency directly. 
    • To obtain permanent residence, you will need to inject a minimum of SAR 7,000,000 and create at least 10 jobs during the first two years of your stay.

• The  Entrepreneurs Residency :

is aimed at entrepreneurs, startup owners, and innovators who want to open and/or  grow their start-up businesses in Saudi Arabia and develop sectors in Saudi Arabia.  Resident Entrepreneurs may nominate two staff members for the Special Talent Residency. These staff members are exempt from residency eligibility requirements. The  Entrepreneurship Residency is designed to encourage the  Kingdom’s economic transformation journey.

• • Eligibility: The eligibility criteria for the  Entrepreneurship Residency  vary according to the type of category you belong  to:
    • Category One:
      • An entrepreneur license from the Ministry of Investment.
      • A minimum of SAR 400,000 is an investment from an entity accredited to the Ministry of Investment. 
      • A letter of recommendation  from your investment entity.
      • A minimum fee. of  20%  in the company.
    • Second category:
      • An entrepreneur license from the Ministry of  Investment. A minimum of  15,000,000 SAR is an investment from an accredited entity with the Ministry of  Investment. 
      • A letter of recommendation from your investing entity.
      • A minimum share of  10% at the start. You must create a minimum of 10 jobs during the first year and a minimum of 10 additional jobs during the second year.
    • Duration: 
      • Residents of the first category: receive a residence permit of a fixed duration for five years.
      • Residents of the second category pathway to permanent residency
    • Renewal and permanent residence:
      •  first category residents, Residence is renewable for a term, as long as you have consistently fulfilled the eligibility standards and that you have held the residence for at least 30 months during 5 years. 
      • Residents of the second category will have permanent residence, as long as they create at least 10 jobs in the first year and 10 jobs the following year.

• Real estate Owner Residency :

This residence is for foreign owners in Saudi  Arabia who also want to establish themselves in the country. It allows them to take advantage of the growing real estate market while enjoying the high quality of life in Saudi Arabia.

• Eligibility : 
  • The Investor Residency has specific requirements,  including:  
  • You own or hold real. real estate usufruct of at least SAR 4,000,000 in Saudi Arabia.
  • The property you own or have usufruct is without a mortgage and current future.
  • Property(s) must be residential. Property not related to real estate financing.
  • The property must be developed. It must not come from undeveloped or unimproved land.
  • Property must be valued by a valuer accredited by the Saudi  Accredited Valuation Authority. 
• Duration: The length of the owner’s residence is linked to the ownership of the property. properties.
• Renewal and Permanent Residence: As long as you maintain ownership of the property and continue to meet the eligibility criteria for the residence of the previous owner, you can renew your residence for an indefinite period.

Saudi premium Residency benefits:  

The Saudi Premium Residency program offers several benefits. Designed to attract extraordinary people from around the world, it offers many benefits to encourage them to live, work, and invest in Saudi Arabia, including:

• Business opportunities:

Premium residents can establish and run businesses in Saudi Arabia, thereby contributing to economic growth and job creation. Holders of the Saudi Premium Residency program can invest in the Saudi capital market, own a foreign entity on the ground (with the appropriate license) and work in private organizations. The Saudi Premium Residency program gives you access to a thriving market and allows you to participate in various sectors without the need for a local sponsor.

• Eligibility for Permanent Residency:

Premium residency holders who maintain the product qualification criteria for a minimum duration may apply for permanent residency in Saudi Arabia. To qualify for permanent residency, you must generally reside in Saudi Arabia for at least 30 months during five consecutive or non-consecutive years.

• Visa-free entry and exit:

Premium residency holders enjoy entry and unlimited output. privileges, which allow them to enter and exit Saudi Arabia without the need to apply for a visa. This is an important benefit for many residents, as it allows unlimited international travel for business, pleasure, or personal reasons. When returning to Saudi Arabia, Premium Residency holders can use the fast-track residency.

• Family Residency:

Immediate family members of Premium Residency holders can apply for a permit of residence in Saudi Arabia and have the right. to live, work, and invest in Saudi Arabia. Family members will also be able to leave and return to Saudi Arabia without the need for a visa. In addition, Premium residents are eligible to apply for visitor visas for any family members who plan to visit them in Saudi Arabia. 

• Real Estate Owners:

Premium resident owners are allowed to own residential, commercial, and industrial properties in Saudi Arabia, offering investment opportunities and long-term stability and the opportunity to benefit from potential appreciation.

Documents required for Saudi Premium Residency Application: 

When applying for Saudi Premium Residency, you will need some specific documents, including : 

1. A copy of your passport :will need copies of the clear pages of your passport, especially the Passport pages that contain personal information and validity dates.
2. Personal photos: You need two recent passport photos (within the last six months) that identify that you are connected. Photos must be in color and taken on a white  background, clear, sharp, and with  uniform lighting
3. Evidence of financial ability you need to provide proof of your finances certified by the Saudi diplomatic mission authorized, such as:
   1. Certified proof of income (for employees).
   2. A  certified copy of your company registration document (for investors). 
   3. A  financial statement verified and printed by a certified public accountant for the last two years (for investors).
   4. Investment portfolio.
   5. A bank statement from the last 12 months.
4. Medical report: You need to provide a certified medical report from a licensed healthcare  provider. provider confirming that you are in good health and free of communicable diseases.
5. Your Saudi Iqama number needs to be provided if you are currently in the country or if you have previously had an Ikama. 
6. Proof of address : You need to provide proof of your current address, for example, a utility bill.
7. Previous visas:  You need to provide copies of all Saudi  visas from the last 15  years.

If you include family members in your application, you also need to provide copies of their passports,  passport photos, and certified medical reports. You may also need to include a personal photo of you and your family together.

How to apply for premium residency in Saudi Arabia? 

You need to follow some steps to apply for premium residency in Saudi Arabia.

1. Create an account on the official portal: Visit the official website. for premium residency applications and create a user account. Provide accurate personal information and create login credentials.
2. Complete the application form: complete the online application form with detailed and accurate information about your personal background, work, education, and any other details required. 
3. Upload documents: Scan and upload all required documents, including passport copies, personal photos, evidence of financial ability, and medical reports, as specified in the application instructions. Pay the application fee: Pay the prescribed application fee through the online portal. using the accepted payment methods. 
4. Check and Submit: Check carefully all the information entered and the documents uploaded to make sure they are correct. Once satisfied, submit your application through the online portal. Keep a record of your application reference number for future reference. 
5. Wait for processing: After submitting your application, wait for confirmation of receipt and processing by the relevant authorities. Processing time may vary depending on the type of premium residency requested and the volume of applications received. 
6. Get a biometric appointment (if needed), schedule and attend a biometric appointment center in a designated center to provide fingerprints. and other biometric data as part of the verification process. 
7. Wait for approval notification ,once your application is processed, you will receive a result notification by email or through the web portal. If your application is approved, follow the additional instructions provided to finalize your Premium residency status.

Premium Saudi Residency Fees: 

The rates associated with Premium Saudi Residency may vary depending on the specific product you are applying for. The application fee is payable at the beginning of the application process and is non-refundable. You may be charged for a residence visa for a specific category and an application processing fee. Saudi premium residence fee by category:

1. Residency of special talents: SAR 4000. 
2. Gifted Residence: SAR 4000.
3. Investor Residence: SAR 4000.
4. Entrepreneur Residence: SAR 4000.
5. Real Estate Owner Residence: SAR 4000.
6. Limited Duration Premium Residence: SAR 10 a reduction of 2% per year on a cumulative basis).
7. Premium residence of unlimited duration: SAR 800,000.

 

Conclusion: 

Finally, we explain to you why individuals want to reside in Saudi Arabia. 

Saudi Arabia is not only one of the largest economies in the world but is also an attractive destination for individuals and families. Saudi Arabia has a rich cultural heritage coupled with modern amenities, from bustling cities to desert landscapes, the country offers a unique blend of tradition and modernity.

With its rapidly growing economy and development plans ambitious, Saudi Arabia offers an abundance of job opportunities in various sectors, such as oil and gas, construction, health, finance, and technology. The Saudi government welcomes foreign investment and entrepreneurship, allowing individuals to create businesses and contribute to the growth of the economy. Saudi Arabia does not impose a personal income tax on residents, which provides significant financial benefits to individuals and families. In addition, the cost of living in the country is relatively low compared to many Western countries.

Saudi Arabia is also known for its hospitality and welcoming nature to residents and visitors. The local people are known for their kindness and generosity, and Saudi Arabia has a multicultural environment and is home to a diverse expatriate community. For those who move with their families, the quality of education is an important factor. The country also offers top-quality healthcare services, with modern hospitals and medical facilities equipped to meet a wide range of medical needs. Residents can have quality health services at affordable prices.