Saudi Premium Residency Draws 40,000 Applicants Amid Vision 2030 Push
In line with Vision 2030, the Saudi Premium Residency represents a unique program that allows talented individuals, investors, entrepreneurs and high-value workers to work and live in the Kingdom without requiring a local sponsor.
The platform has recently received 40,163 applications from both local and international applicants. In 2024, the Kingdom issued 8,074 Premium Residency permits.
The 'exceptional competence' category secured the largest portion with 5,578 permits, followed by the 'talent' category with 348, and the remainder distributed across real estate ownership, entrepreneurship, and investment.
Interestingly, Saudi Arabia broadened the program from two to seven categories in early 2024. Therefore, the program now covers exceptional competence, talent, investor, entrepreneur, real estate owner, as well as limited-duration and unlimited-duration residency options.
Premium residency visa holders enjoy a vast array of privileges, such as permanent or time-limited residency for themselves and their families, property ownership rights, visa-free travel, and exemption from expat levies.
Crucially, the program grants residents usufruct rights to properties in Mecca and Medina for up to 99 years, in addition to access to citizen-designated airport lanes.
Overall, the scheme stands out as a cornerstone of the Saudi Arabia's strategy to foster its global competitiveness by creating a more appealing environment for both living and business.
Related Topics:
1,200 Foreign Investors Have Saudi Premium Residency, Al-Falih Says
Saudi Arabia's Premium Residency Fees Reduced to 4,000 Riyals
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