Saudi Arabia: Five New Premium Residency Permit Categories Introduced

New Category

Details

Impact

Special Talent Residency

• Eligibility. This category applies to:
  • researchers in certain fields (yet to be formally announced) with a minimum monthly salary of SAR 14,000;
  • healthcare and scientific professionals with a minimum monthly salary of SAR 35,000; or
  • executives with a minimum monthly salary of SAR 80,000.
• Validity period. Five years (renewable once).
• Permanent residency. Special Talent Residency permit holders may be eligible for permanent residency, provided they fulfill requisite residency requirements.
• Saudization. Permit holders are not counted toward Saudization ratios.

This permit type may help attract individuals who can further advance knowledge exchange and capacity within Saudi Arabia.

Additionally, it allows employers to hire such individuals without affecting their local-to-foreign hire ratios under Saudization rules – increasing employer flexibility regarding workforce composition.

Gifted Residency

• Eligibility. This category applies to gifted individuals in culture, the arts, or sport who have an outstanding record of local, regional, or international achievements. Applicants must have received, or been nominated for, at least one approved award (from a list of awards issued by the Premium Residency Center) in their field and have received an official recommendation from relevant Saudi authorities.
• Validity period. Five years (renewable once).
• Permanent residency. Special Talent Residency permit holders may be eligible for permanent residency, provided they fulfill requisite residency requirements.
• Saudization. Permit holders are not counted toward Saudization ratios.

This permit type may help attract individuals who can advance Saudi Arabia’s cultural, artistic, or sporting capacities.

Further, it allows employers to hire such individuals without affecting their local-to-foreign hire ratios under Saudization rules – increasing employer flexibility regarding workforce composition.

Investor Residency

• Eligibility. This category applies to individuals seeking to invest at least SAR 7 million into Saudi Arabia’s economy while creating at least 10 new jobs.
• Validity period. Permanent residency is granted immediately – though it is conditional for the first two years on adhering to the investment requirements, among other criteria.

This permit type may increase foreign direct investment into Saudi Arabia, while also potentially increasing the number of foreign nationals permanently residing in Saudi Arabia. 

Entrepreneur Residency

• Eligibility. This category applies to individuals seeking to establish a start-up company and to develop specific industries (yet to be publicly announced) in Saudi Arabia. Depending on the degree of investment, this permit offers either:
  • five years residence (for investments of at least SAR 400,000); or
  • permanent residence (for investments of at least SAR 15 million). Applicants may also be required to create a specific number of jobs in Saudi Arabia, along with other conditions.
• Validity period. The five-year residency option is renewable once; while the permanent residency option is conditional for the first two years on adhering to the investment requirements and other eligibility criteria.
• Saudization. The permit holder’s start-up company will be exempt from Saudization requirements for up to three years.
• Other benefits. Individuals in this category may nominate two people for the Special Talent Residency category.

This permit type may increase the presence of start-up companies in Saudi Arabia, while, also potentially increasing the number of foreign nationals permanently residing in Saudi Arabia.

Since the start-up company can be temporarily exempt from local-to-foreign hire ratios under Saudization rules, this permit may temporarily increase the amount of foreign nationals working in the start-up space in Saudi Arabia while also providing such businesses more time to comply with their Saudization requirements.

Real Estate Owner Residency

• Eligibility. This permit applies to individuals who own or have a right to profit from, a residential real estate property in Saudi Arabia worth at least SAR 4 million.
• Validity. Permit holders will hold residency as long as they retain ownership of, or certain property rights over, the property.

This permit type may increase the level of foreign investment into Saudi Arabia’s real estate market as such investment provides a pathway forward to residency in Saudi Arabia (dependent upon obtaining and maintaining certain real property rights).