Saudi Arabia has introduced six new visa types, known as ‘Premium Residency products,’ to attract skilled professionals and investments to enhance the country’s status as a global hub.
Interested parties can apply directly through the government’s online portal.
The Premium Residency program has six categories, each with different requirements and durations:
- Entrepreneur
- Business Investor
- Property Investor
- Privileged Residency
- Established Talent
- Exceptional Competence
All categories of applicants will reap the following benefits:
- Residency in Saudi Arabia, including for parents, spouses, and children under the age of 25
- Freedom to move between facilities (employers, projects, businesses, etc.)
- Exemption from the financial fees normally imposed on expats and their companions
- Use of designated entry and exit lanes at ports and airports
- Right – for main applicant, spouse, and children – to work in private sector establishments and move freely between them
- Freedom to enter and exit the Kingdom without a visa
- Visitor visas available for relatives
- Right to own real estate in KSA
ENTREPRENEUR: This visa targets entrepreneurs and innovators who want to develop startups in Saudi Arabia while getting investments from accredited entities.
Special advantages
- Ability to nominate two team members to obtain exceptional competence residency (see below) while exempting them from its requirements
- Exemption from the scope of establishment for the first three years of operation
- Direct permanent residency if qualifying in category 2 (see below)
Eligibility criteria
Category 1:
- Obtain entrepreneurial license from the Ministry of Investment
- Obtain investment round(s) from an approved entity in the amount of no less than SAR 400,000 (US$106,000)
- Obtain a letter of recommendation from the investing party
- Retain at least a 20% share in the company
Category 2:
- Obtain entrepreneurial license from the Ministry of Investment
- Obtain investment round(s) from an approved entity in the amount of no less than SAR 15 million (US$4 million)
- Obtain a letter of recommendation from the investing party
- Retain at least a 10% share in the company
- Create at least 10 jobs during the first year, and at least another 10 jobs during the second year
Duration of stay
Category 1: An initial 5-year residence permit, renewable once upon continuing to meet the eligibility criteria. This is contingent on physical presence for at least 30 months within the five-year period.
Category 2: Immediate permanent residency, conditional on the creation of at least 10 jobs in the first year and at least another 10 in the second.
Click here to view criteria for other categories.