Saudi Arabia is now accepting online applications for its permanent residency program for expats. As the previous reports suggested, the permanent residency will cost SAR 800,000 ($213,000) and the one-year renewable residency will cost SAR 100,000 ($27,000). The residencies according to website of Premium Residency Center (PRC), which manages the initiative, are named Unlimited Duration Premium Residency (SP-1) and Limited Duration Premium Residency (SP-2).
The previous unofficial terms we’ve been hearing about these residencies include Special Privilege Iqama and Saudi Green Card. The premium residency will allow holders to work in Saudi Arabia having a sponsor (commonly known as kafeel), own real estate, ability to travel out of Saudi without an exit re-entry visa, hire domestic workers and obtain visit visa for their relatives.
Here’s the complete list of rights and privileges that will be enjoyed by holders of premium residency, according to PRC’s website.
Residence in the Kingdom with his/her family i.e. spouse(s), and children (not exceeding 21 years of age)
Visit visas for relatives
Recruitment of domestic workers from abroad according to his/her needs
Ownership of real estate for residential, commercial, and industrial purposes in Saudi except for Mecca, Medina and border areas
Usufruct rights on real property located in the cities of Mecca and Medina for a period not exceeding 99 years
Ownership of private means of transportation, and other movables
Working at private establishments with the ability to change jobs; this shall extend to family members
Exiting and entering the Kingdom at his/her own accord
Use of lanes designated for Saudis at the Kingdom’s exit and entry points
Engagement in business activities, in accordance with the Foreign Investment Law
The conditions to apply for premium residency include:
Submitting a valid passport
The applicant must be at least 21 years of age
Providing proof of the applicant’s financial solvency
Submitting a criminal record that proves the applicant has no criminal precedents
Providing a medical report proving that the applicant has no communicable diseases
If applying from within the Kingdom, the applicant must be legally residing in the Kingdom
The law for premium residency was approved in May earlier this year.