_Saudi’s Premium Residency – What Do You Need to Know?

What is the Premium Residency?

Premium residency isn't a new concept, having started five years ago with two options – a permanent residency at SR800,000 ($213,000) and a yearly renewable option at SR100,000 ($26,000). The recent expansion introduces five more categories, showcasing a strategic talent acquisition and retention approach.

What does it offer?

Holders of premium residency will enjoy a range of privileges, including extending residency to family members, conducting business activities, and exempting expatriate levies. Other perks include:

• Visa-free travel.
• Property ownership rights.
• Seamless transitions between establishments.
• The ability to host relatives.

This initiative aligns with Saudi Vision 2030, aiming to attract crucial talents for economic growth.

What are the eligibility criteria for each category?

1. Special Talent Residency: Dedicated to health and scientific talents, researchers, and executives, with specific salary and experience requirements.
2. Gifted Residency: Reserved for individuals nominated for or winning specified exceptional awards, meeting criteria set by the ministries of Sports or Culture and demonstrating financial solvency.
3. Investor Residency: Criteria include obtaining investment licenses, presenting a commercial register, founding a contract, and making a minimum investment of SR7 million in economic activities within the Kingdom.
4. Entrepreneur Residency: Divided into two categories, each with investment and ownership requirements and recommendations from the investing entity.
5. Real Estate Owner Residency: Requires ownership or benefit from real estate assets worth at least SR4 million in Saudi Arabia, along with other specified criteria.

If you're aiming for real estate residency, make sure you tick all these boxes:
- Own residential real estate in Saudi Arabia valued at a minimum of SAR 4,000,000.
- Ensure the property is mortgage-free, not tied to real estate financing, and appraised by 'Taqeem.'
- The real estate should be developed, not undeveloped lands.

Ready for the paperwork?
General application requirements across all categories include:

• A valid passport.
• A medical checkup.
• Regular residency (for current residents).
• A one-time fee of SR4,000.

Choose between a limited duration (with an annual fee of SR100,000) or an unlimited duration (a one-time payment of SR800,000) based on your professional journey.