All About Saudi Arabia 5 types of Residency visas for investors and entrepreneurs: Unveiling Your Gateway to Growth

For those eyeing a move to Saudi Arabia for work or business, there’s exciting news. The Premium Residency Centre in Saudi Arabia declared on January 10 the launch of five new premium residency options. Geared to attract top talent and investments, these options aim to bolster the national economy.

Below are the details of each category and their eligibility criteria:

1. Real Estate Owner Residency:
   • Eligibility:
     • Own or usufruct real estate assets valued at a minimum of SAR 4,000,000 within Saudi Arabia.
     • Property free from existing and future mortgages, exclusively residential, and appraised by accredited valuers.
   • Residency Duration: Tied to real estate ownership or usufruct.
   • One-time Fee: SAR 4,000.
2. Investor Residency:
   • Eligibility:
     • Hold an investment license.
     • Invest a minimum of SAR 7 million in Saudi economic activities, creating at least 10 jobs.
   • Residency Duration: Direct permanent residency.
   • One-time Fee: SAR 4,000.
3. Special Talent Residency:
   • Eligibility:
     • Researchers: Employment in whitelisted entities, minimum monthly wage of SAR 14,000, bachelor’s degree, and more.
     • Healthcare/Scientific Professionals: Similar employment criteria with a minimum monthly wage of SAR 35,000.
     • Executives: Employment contract with a minimum monthly wage of SAR 80,000.
   • Residency Duration: Five-year fixed-term, renewable, or permanent residency based on adherence and duration.
   • One-time Fee: SAR 4,000.
4. Entrepreneur Residency:
   • Eligibility:
     • First Category: Entrepreneur license, SAR 400,000 investment, 20% share, and job creation.
     • Second Category: Entrepreneur license, SAR 15 million investment, 10% share, and substantial job creation.
   • Residency Duration: Fixed-term or permanent based on category and criteria.
   • One-time Fee: SAR 4,000.
5. Gifted Residency:
   • Eligibility:
     • Nomination or receiving specified awards with financial capability.
     • Recommendation from the Ministry of Culture or the Ministry of Sports.
   • Residency Duration: Fixed term with renewal, or permanent residency based on continuous eligibility.
   • One-time Fee: SAR 4,000.

Benefits of the New Residency Options:

1. Reside with family members, including parents, spouses, and children under 25.
2. Flexibility to change establishments.
3. Exemption from fees imposed on expats and their dependents.
4. Visa-free entry and exit for the premium residency holder and their family.
5. Entitlement to obtain visit visas for relatives.
6. Use dedicated airport tracks for citizens and GCC nationals.
7. Work and move between establishments for the whole family.
8. Conduct business under the Investment Law.
9. Own real estate.

How to Apply:

Visit the official Premium Residency Centre website – pr.gov.sa. Click on ‘Apply now,’ choose the preferred category, and follow the application steps. Some categories offer a ‘Check your eligibility’ tool for assistance. Don’t miss the chance to explore these new opportunities and contribute to Saudi Arabia’s growth.

2024 Updates:

• Streamlined Online Platform: Apply efficiently through a user-friendly portal, reducing paperwork and processing delays.
• Expanded Visa Categories: New visas target sectors like tourism, sports, and real estate, attracting diverse talent.
• Faster Approvals: Government efforts aim to expedite visa issuance, boosting business agility.

Beyond Visas:

Saudi Arabia goes beyond visas to ensure a seamless experience:

• Investment Incentives: Tax breaks, land grants, and access to government funds stimulate foreign direct investment.
• Business Support Services: Dedicated agencies assist with business setup, regulations, and finding local partners.
• Modern Infrastructure: Upgraded transportation networks, logistics facilities, and digital infrastructure empower business growth.

Unlocking Your Potential:

With its diverse visas, business-friendly environment, and commitment to foreign investment, Saudi Arabia’s potential beckons. So, explore your options, embrace the streamlined processes, and unlock your entrepreneurial spirit in this dynamic economic powerhouse. Remember, the Kingdom’s future is woven with yours, and the visa is just the first thread in your tapestry of success.

Further Information:

• For specific eligibility criteria, processing times, and required documents, please visit the official Saudi Arabian visa website
• Consider including links to success stories of businesses thriving in Saudi Arabia to showcase its investor-friendly climate.

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