Permanent Residence in Saudi Arabia

Premium Residency (Golden Visa)

Understanding Premium Residency

The Kingdom of Saudi Arabia launched the Premium Residency Permit (PRP) programme, colloquially known as the Saudi Golden Visa, in 2019. This initiative forms part of Saudi Arabia's Vision 2030, aimed at diversifying the economy and reducing oil dependency by attracting foreign direct investment and skilled professionals. Offering a blend of long-term residency perks, the programme not only simplifies the process of living and conducting business in the Kingdom and aims to create a thriving business environment that can attract global talent and investments across sectors such as tourism, entertainment, and technology.

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What is Premium Residency Permit (PRP) in Saudi Arabia?

Saudi Premium Residency, often compared to the US Green Card, allows eligible foreign nationals to live, work, and invest in Saudi Arabia without a local sponsor. It’s part of the Saudi government’s efforts to enhance the private sector's role in the economy by facilitating easier access for international entrepreneurs and investors. The programme provides a variety of benefits including the freedom to enter and exit the country without restrictions, bring family members, and own real estate in most parts of the country.

This makes it especially appealing to those looking to establish a long-term presence in the region and particularly in the largest market in the GCC.

Premium Residency Options

Saudi Arabia's Premium Residency is offered through several distinct categories:

  1. Special talent residency - For high-level professionals and experts in fields such as healthcare, science, and executive management. There are minimum degree and salary requirements for this category i.e. Researchers require minimum SAR 14,000 monthly salary, bachelor’s degree or higher, more than 3 years’ experience in their field.
  2. Gifted residency - Aimed at individuals who excel in sports, arts, and cultural activities. Applicants for this residency must showcase recognised accomplishments such as international awards, significant contributions to major artistic or cultural projects, or a substantial track record of excellence in their field.
  3. Investor residency - For those prepared to make substantial financial investments in the local economy. To qualify for this residency, applicants are typically required to invest in sectors that are strategic to Saudi Arabia’s economic diversification efforts, such as technology, green energy, tourism, and healthcare. Applicants must hold an investment license with shares totaling a minimum SAR 7 million.
  4. Entrepreneur residency - Supports innovative entrepreneurs in launching new ventures within the Kingdom which align with Saudi’s developmental goals. The category must show an entrepreneur license and obtain an minimum SAR400,000 accredited investment by MISA, among other requirements.
  5. Real estate owner residency - Tailored for foreign nationals investing in Saudi real estate (minimum SAR4,000,000), offering various incentives that enhance the attractiveness of Saudi’s property market. Property must be free from mortgages and be for residential purposes.

It is important to understand the full eligibility criteria, requirements and durations of the PRP vary from category to category. Sovereign PPG can help you to assess your eligibility.

These pathways not only offer the flexibility to align professional endeavours with personal residency status but also actively contribute to the Kingdom’s economic goals.

Benefits of Premium Residency in Saudi Arabia

The benefits of holding a Premium Residency are extensive. One of the most significant is freedom of movement. 

Residents can freely enter and exit Saudi Arabia, which is particularly beneficial for international business owners and frequent travellers. It also allows flexibility for the visa holder and family to work at an establishment of choice and move more freely between jobs.

Own Business in KSA

Economic participation

The right to start or own businesses and properties across the Kingdom (with the exception of Makkah and Madinah), invest in various sectors, and access local financial services.

Access to healthcare and education in Saudi

Social inclusion

Access to health, educational and other services available to Saudi citizens.

visas for family members in Saudi

Family security

Ease of securing visas for family members including parents, spouse and children under 25 years.

Application requirements and process

The application process is managed by the Premium Residency Centre and involves submitting a comprehensive application online with personal and financial documents to demonstrate eligibility. This includes proof of financial stability, a clean criminal record, and a health report. Once the application is submitted, it undergoes a review process, which usually takes 1-3 months, and if approved, the applicant is granted Premium Residency status.

Premium Residency Costs

The financial commitment for Premium Residency varies by the chosen path.

The PRP is broken down into two duration categories - Limited Duration and Permanent Residency 

Entrepreneur and investor residencies - These categories may involve additional financial thresholds, including minimum investment amounts and potential job creation. For the Investor Residency, applicants are typically required to invest a substantial amount of capital. The exact figures can vary, but a common benchmark is an investment of at least 7 million SAR within the first two years of obtaining residency. Entrepreneur Residency applicants need to demonstrate their commitment to launching new ventures or significantly expanding existing businesses in the Kingdom. While the minimum investment amounts may be lower compared to Investor Residency, they often start around 400,000 SAR. This investment should be directed towards innovative projects or businesses that can contribute to the Kingdom's diversification goals. Both residencies require proof of potential job creation. For Investor Residency, there might be a requirement to create at least 10 job opportunities for Saudi nationals. Entrepreneur Residency applicants also need to show how their business will contribute to employment in the region.

Limited duration residency

Limited duration residency

Annually renewable for up to five years for a fee of 100,000 SAR. Suitable for those exploring short to mid-term projects.

Permanent residency

Permanent residency

A one-time fee of 800,000 SAR grants long-term stability without the need for renewal.

Overall, Saudi Arabia’s Premium Residency offers a unique combination of lifestyle, business, and cultural opportunities, making it an attractive option for those seeking to engage with one of the world's most promising economies. While the PRP requires significant one-time fees and investment requirements, if obtaining PRP in Saudi aligns strategically to your personal and commercial goals then it is worthwhile to explore the option.

If you require more information or assistance with assessing your eligibility for the Saudi ‘Golden Visa’, schedule a free consultation with our Riyadh based team who can provide guidance on the requirements and process of obtaining your PRP in Saudi Arabia.  Contact Sovereign PPG on+966 (0)535 377 578 for Saudi Arabia or +971 (0)4 456 1761 for Dubai, or email us at ksa@sovereigngroup.com or complete the contact form below and we will be delighted to assist you.

Obtain Premium Residency in KSA

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