In recent years, the Kingdom of Saudi Arabia has been actively modernizing its economy and making it more open to the outside world. One of the steps on this path was the launch of the Premium Residency program, the purpose of which is to stimulate the inflow of foreign investment, entrepreneurial initiatives, and professional competencies into the country.

Categories of participants and main benefits

The program has six categories of potential residents: real estate investors, business investors, entrepreneurs, VIP visa holders, professionals, and artists.

All participants, provided they meet the selection criteria, receive a number of significant benefits for themselves and their families, namely:

  • Saudi Arabian residence permit;
  • exemption from many of the duties and tax charges normally levied on expats;
  • freedom of movement within the country without the need to apply for additional permits
  • the ability to be absent from the country for an unlimited period of time;
  • visitor visas for relatives;
  • the right of the resident and his or her family members to be employed by commercial organizations;
  • the right to acquire ownership of elite real estate in the territory of the country; 
  • the ability to use dedicated entry and exit lanes at ports and airports.

Conditions of participation for the main categories

Let's have a closer look at the requirements for the main groups of candidates.

Investors in commercial and residential real estate must confirm an investment of $1.1 million or more, and the object of purchase must not be under construction. The purchased real estate must be appraised by independent, accredited experts, and the financing of the transaction must not include mortgage loans.

Businessmen are obliged to invest at least $1.9 million within two years after receiving an investment license and to employ at least 10 citizens of the country.

Entrepreneurs and startups must raise seed capital of $106,000 or more and create 10 new jobs or more, depending on the terms.

VIP visa holders confirm their financial solvency by making a one-time deposit of $213 thousand or more.

Internationally renowned professionals in the field of culture and art undergo a special procedure of nomination by the state authorities.

Interested foreigners can apply online through a special portal, attaching all the necessary documents to prove their status and fulfilling mandatory conditions.