- Introduction
- Five New Categories of Saudi Premium Residency
- Real Estate Owner Residency
- Investor Residency
- Special Talent Residency
- Entrepreneur Residency
- Gifted Residency
- Benefits of Premium Residency in Saudi Arabia
- Obtain Your Saudi Premium Residency with Creative Zone
Introduction
Enter the realm of exclusive opportunities in Saudi Arabia through the Premium Residency Visa – a testament to the Kingdom’s continual commitment to staying at the forefront of innovation and progress. This pioneering initiative opens doors to a privileged lifestyle, streamlined business endeavours, and a culturally vibrant experience. By attracting special talents, entrepreneurs, and investors, the Kingdom is fostering economic growth and enhancing its cultural and scientific landscape. Introducing these five new premium residency options signifies a notable advancement in the Kingdom. The potential surge of specialized talent can positively influence research and development initiatives in the country.
Five New Categories of Saudi Premium Residency
The designated categories include skilled individuals (specialists, executives), talents (cultural, sports), business investors, entrepreneurs, and property owners. The Saudi Premium Residency recipients can select either a renewable extended one-year duration or an unlimited stay based on their chosen plan during the application process. The unlimited plan is available for USD 213,320 (SAR 800,000), while the one-year plan is priced at USD 26,665 (SAR 100,000). Both options necessitate upfront payment. The one-time cost to apply for premium residency is SAR 4,000 (Dh3,917), payable upon application submission.
Real Estate Owner Residency
This visa is designed for individuals who own residential property in Saudi Arabia valued at SAR4 million or above and do not have any existing or future mortgages. It gives you a superior quality of life and opportunities for lucrative investments in the real estate market. The duration of your residency is tied to the length of your property ownership.
- Eligibility Criteria
To qualify for the premium residency, individuals need to own or have a usufruct, a temporary right to derive income from someone else’s property, over real estate assets valued at a minimum of SAR 4,000,000 (Dh3.917 million) within Saudi Arabia. Several conditions must be met, including the property being free from existing and future mortgages and its ownership or utilization not being associated with real estate financing. The real estate must be residential, developed, and not derived from undeveloped or unimproved lands. Furthermore, the property’s value must be appraised by accredited valuers within the Saudi Authority for Accredited Valuers – ‘Taqeem.’
Investor Residency
The investor residency is tailored for individuals seeking to capitalize on Saudi Arabia’s business landscape, offering an avenue to engage and invest in the country’s economic activities. On the other hand, the entrepreneur residency is specifically crafted for aspiring individuals and owners of innovative projects keen to initiate and nurture startups within the Saudi Arabian business ecosystem.
- Eligibility Criteria
The applicant must hold an investment license. The residency duration for direct permanent residency is subject to specific conditions. To qualify, individuals must adhere to the requirement of injecting SAR 7 million (Dh6.85 million) into economic activities within the first two years. Creating a minimum of 10 jobs during the same period is a prerequisite for obtaining and maintaining this permanent residency status.
Special Talent Residency
The special talent residency program is designed to accommodate executives and professionals with expertise in the healthcare, science, and research sectors. The residency program provides a five-year fixed-term option, with the possibility of renewal for one additional term upon meeting the product eligibility criteria. Participants may also qualify for permanent residency, provided they consistently adhere to the product eligibility standards and maintain residency for 30 months within five consecutive or non-consecutive years.
- Eligibility Criteria for Researchers
Researchers aspiring to obtain premium residency in Saudi Arabia must fulfil specific eligibility criteria. This includes securing an employment contract with entities that are whitelisted and prioritize certain specializations. Additionally, applicants should demonstrate a minimum monthly wage of SAR14,000, hold a Bachelor’s degree or higher educational qualification, and possess more than three years of relevant work experience. The evaluation process also involves achieving a minimum score in the points system. Furthermore, applicants must submit a recommendation letter from their employer as part of the comprehensive application process.
- Eligibility Criteria for Healthcare and Scientific Professional
Professionals in healthcare and scientific fields aiming for premium residency in Saudi Arabia must meet specific eligibility requirements. This includes securing a valid employment contract with entities listed in the whitelist, which gives priority to particular specializations within the healthcare and scientific sectors. Additionally, applicants should demonstrate a minimum monthly wage of SAR35,000, hold a Bachelor’s degree or higher educational qualification, and possess over three years of relevant work experience. The evaluation process incorporates achieving a minimum score in the points system, and applicants are further required to submit a recommendation letter from their employer.
- Eligibility Criteria for Executives
Executives seeking premium residency in Saudi Arabia must have an employment contract at the first or second level, with a minimum monthly wage of SAR80,000. Individuals at the second level must submit a recommendation letter from their employer.
Entrepreneur Residency
This is for entrepreneurs and innovators looking to start and grow businesses in Saudi Arabia, with two specific categories available.
- First Category
Individuals who have secured a minimum investment of SAR400,000 and own at least 20 percent of a startup are eligible for a five-year residency. Renewal is possible upon meeting ongoing eligibility criteria and maintaining a minimum 30-month residency within the initial five-year period.
- Second Category
Individuals with a minimum investment of SAR15 million and a 10 percent ownership stake in a startup are eligible for permanent residency. This is granted under the condition that the holder creates a minimum of 10 jobs in the first year and an additional ten jobs in the second year.
Gifted Residency
The Gifted Residency program is intended to bring skilled professionals and talented individuals into Saudi Arabia’s cultural and sports sectors.
- First Category
Individuals must meet specific criteria to qualify for Gifted Residency in the first category. This includes being nominated or receiving one of the specified exceptional awards, demonstrating the minimum financial capability to cover the cost of living in Saudi Arabia, and obtaining a recommendation from the Ministry of Culture or the Ministry of Sports based on the applicant’s field.
- Second Category
In the second category of the Gifted Residency, individuals must meet specific eligibility criteria outlined by the Ministry of Culture and the Ministry of Sports. This includes fulfilling minimum requirements approved by these ministries, demonstrating financial capability sufficient to cover the cost of living in Saudi Arabia and obtaining a recommendation from either the Ministry of Culture or the Ministry of Sports based on the applicant’s field of expertise.
Benefits of Premium Residency in Saudi Arabia
- Family Residency: Reside in Saudi Arabia with your family members, encompassing parents, spouses, and children under 25.
- Flexible Establishment Mobility: Enjoy the freedom to transition seamlessly between different establishments.
- Exemption from Expat Fees: Benefit from the waiver of fees imposed on expatriates and their dependents and companions.
- Visa-Free Entry and Exit: Easily enter and exit Saudi Arabia without a visa, both for the premium residency holder and their family members.
- Visit Visa Entitlement: You can obtain visit visas for your relatives.
- Airport Advantages: Utilize designated airport tracks reserved for citizens and GCC nationals.
- Employment Flexibility: Experience entitlements to engage in the private sector and transfer between establishments, applicable to the husband, wife, and dependents, including daughters and sons.
- Business Operations: Conduct business activities adhering to the guidelines outlined in The Investment Law.
- Real Estate Ownership: Possess and hold usufruct (temporary right to derive income from someone else’s property) over real estate.
Obtain Your Saudi Premium Residency with Creative Zone
Secure your premium residency with the assistance of Creative Zone. Our dedicated services are tailored to guide you through the application process, ensuring a smooth and efficient experience. From understanding eligibility criteria to handling documentation, our team is committed to facilitating your premium residency process. Partner with Creative Zone to unlock the numerous benefits and opportunities of premium residency in Saudi Arabia.
