At NTL International, we specialize in providing comprehensive guidance for investors seeking residency opportunities worldwide. In alignment with our expertise, we present an in-depth guide to the Saudi Premium Residency program, designed to attract global investors and entrepreneurs. This article offers a detailed overview of the program, eligibility criteria, benefits, and application process, tailored to meet the needs of high-net-worth individuals.

Overview of Saudi Premium Residency: 

Saudi Premium Residency program, also known as the “Saudi Green Card,” aims to enhance the Kingdom’s economic growth by attracting foreign investors, entrepreneurs, and talented professionals. The program aligns with Saudi Vision 2030, which focuses on diversifying the economy and reducing dependency on oil.

Eligibility Criteria: 

To qualify for Saudi Premium Residency, applicants must meet specific requirements, which vary depending on the chosen residency product. General eligibility criteria include:

1. Valid Passport: The main applicant and family must have passports with a minimum validity of six months.
2. Financial Solvency: Demonstrated ability to support oneself and dependents, proven through financial documents.
3. Clean Criminal Record: All applicants must have a clean criminal record and consent to background checks.
4. Medical Fitness: Applicants must be free from infectious diseases, verified by a recent medical report.
5. Legal Residency Proof: If applying from within Saudi Arabia, proof of legal residency is required.

Family Members Eligible for Saudi Premium Residency:

Family members of Premium Residency holders also receive residency privileges, including:

• Spouses
• Children under 25 years old
• Parents
• Unmarried daughters over 25
• Children with special needs, regardless of age

Saudi Premium Residency Options: 

Limited Duration Premium Residency:

• Validity: 1-5 years, renewable.
• Fee: SAR 100,000 annually (approx. USD 26,670).
• Suitable for: Investors exploring short-term opportunities in Saudi Arabia.

Unlimited Duration Saudi Premium Residency:

• Validity: Permanent.
• Fee: One-time fee of SAR 800,000 (approx. USD 213,340).
• Suitable for: Individuals seeking long-term residency without annual renewals.

Real Estate Owner Residency:

• Validity: Tied to property ownership.
• Investment: Minimum property value of SAR 4 million.
• Conditions: Property must be residential, developed, and appraised by accredited valuers.

Investor Residency:

• Validity: Permanent, with conditions for the first two years.
• Investment: Minimum SAR 7 million within two years, creating at least 10 jobs.
• Requirements: Investment license in Saudi Arabia.

Entrepreneur Residency:

• Validity: 5 years, renewable.
• Investment: Minimum SAR 400,000 from recognized funds.
• Conditions: An entrepreneurial license and recommendation letter are required.

Special Talent Residency:

• Validity: 5 years, renewable.
• Suitable for: Professionals in executive leadership, healthcare, science, and research.
• Benefits: Exemption from the Nitaqat program.

Gifted Residency:

• Validity: 5 years, renewable.
• Suitable for: Individuals with exceptional sports, culture, and arts skills.
• Conditions: Recommendation from relevant Saudi authorities is required.

Benefits of Saudi Premium Residency: 

• Family Benefits: Residency for immediate family members without dependent fees.
• Property Ownership: Eligibility to own residential, commercial, and industrial properties (excluding Mecca and Madina).
• Business Opportunities: Right to invest in the Saudi Capital Market, work in private organizations, and establish 100% foreign-owned entities.
• Convenient Travel: Freedom to leave and re-enter Saudi Arabia and use airport resident lanes.
• Miscellaneous Benefits: Ability to recruit foreign domestic workers and retain residency benefits for family members after the primary holder’s passing.

Required Documents

• Saudi residency number (if applicable)
• Bank statement for the last 12 months
• Proof of current address
• Personal and family pictures
• Passport copies
• Saudi Arabia visas from the last 15 years
• Medical reports for all dependents
• Proof of financial capacity
• Certified salary statement (for employees)
• Certified commercial registration and financial statements (for investors)
• Additional documents as required

Cost of Saudi Premium Residency:

• Limited Duration Premium Residency: SAR 100,000 annually.
• Unlimited Duration Premium Residency: SAR 800,000 one-time fee.

Validity and Renewal: 

• Limited Duration Premium Residency: Valid for one year, renewable.
• Unlimited Duration Premium Residency: Permanent.
• Real Estate Owner Premium Residency: Valid during property ownership.
• Investor Premium Residency: Permanent, with conditions in the first two years.
• Entrepreneur, Special Talent, and Gifted Premium Residencies: Five-year renewable terms, with potential for permanent residency.

Living in Saudi Arabia: 

Living in Saudi Arabia offers a blend of rich history, cultural heritage, modern infrastructure, and a high standard of living. Key aspects include:

• Modern Cities: Cities like Riyadh, Jeddah, and Dammam feature skyscrapers, shopping malls, and world-class amenities.
• Healthcare and Education: Access to quality medical care and top-tier educational institutions.
• Cultural Events and Recreation: Annual festivals, art exhibitions, and outdoor activities like desert camping and water sports.

Saudi Premium Residency program offers a robust opportunity for investors, entrepreneurs, and talented professionals seeking long-term residency in a dynamic and rapidly developing economy. With numerous benefits and a clear application process, the program is attractive for those looking to capitalize on Saudi Arabia’s growth and potential.

For expert guidance and assistance with the application process, NTL International provides comprehensive consultancy services. Visit our website at ntlinternational.com for more information and support.

FAQs: 

What is the difference between the Saudi Arabia Investor Visa and the Saudi Premium Residency?

• The Investor Visa requires ownership of a legal investment entity, while Premium Residency allows direct application. Premium Residency holders are not tied to a sponsor, unlike Investor Visa holders who rely on sponsorship from their investment establishment. Premium Residency holders can work in the private sector and own real estate directly.

Will I automatically receive a Saudi Premium Residency if I marry a Saudi national?

• No, marriage to a Saudi national does not automatically grant a Premium Residency. Specific criteria and financial obligations must be met.

Does holding a Saudi permanent residency facilitate becoming a Saudi citizen?

• No, holding Saudi permanent residency does not make one eligible for Saudi citizenship.

If a family member violates Saudi law, will the Premium Residency holder’s visa be canceled?

• The family member’s residency can be revoked, but the primary holder’s visa remains unless they commit a crime or are deported.

What are the primary financial requirements for obtaining a Premium Residency?

• Financial requirements include demonstrating financial solvency, proof of income, and, depending on the residency type, specific investment amounts.

Can Premium Residency holders own property in Mecca and Madina?

• No, Premium Residency holders cannot own property in Mecca and Madina. However, they can acquire property through a 99-year lease agreement in these cities.