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In a significant move toward economic diversification and attracting global talent, Saudi Arabia has introduced its Premium Residency suite of programs, offering a pathway for expatriates to establish long-term roots in the Kingdom. This initiative reflects the country’s commitment to fostering a more diverse and vibrant society while boosting its global standing
The Premium Residency programs are structured into three tiers, each catering to specific qualifications and financial thresholds. The first tier welcomes expatriates with exceptional skills, entrepreneurs, and investors, requiring them to meet stringent criteria demonstrating their value to the Saudi economy. The second tier is designed for retirees, offering an attractive option for those seeking a serene retirement lifestyle in the Kingdom. The third tier, aimed at investors with significant financial capabilities, provides an avenue for high-net-worth individuals to contribute to the Saudi economy through substantial investments.
All classifications enjoy the privileges of:
To qualify for Saudi Arabia’s Premium Residency, applicants are expected to meet various criteria, including a valid passport, a clean criminal record, and a comprehensive health insurance policy. The financial thresholds differ across the three tiers, ranging from a specific income level for skilled professionals to substantial investment commitments for the highest tier.
The launch of the Premium Residency suite aligns with Saudi Arabia’s Vision 2030, a comprehensive blueprint for economic and social transformation. By attracting skilled professionals, entrepreneurs, and investors, the program aims to enhance the country’s economic competitiveness, promote innovation, and contribute to its cultural diversity. The initiative signifies the Kingdom’s commitment to creating a welcoming environment for expatriates, fostering a sense of belonging and cooperation on a global scale.
Saudi Arabia’s Premium Residency suite of programs marks a pivotal step in the nation’s journey toward a more inclusive and diversified future. As the Kingdom opens its doors to a broader range of international talent and investment, it sets the stage for a vibrant and globally connected society, fostering economic growth and cultural exchange in the heart of the Middle East.
Alpen Partners is an independent Swiss wealth manager providing Swiss-based financial advice and global wealth planning services to clients from over 30 countries around the world. Our approach involves working closely with our clients to create a unique plan to meet their needs. At the heart of our commitment is the recognition that wealth management extends beyond financial portfolios to encompass the broader spectrum of a client’s life choices. By providing specialized assistance for citizenship and residence planning, we enable our clients to explore new horizons and opportunities, fostering a sense of security and confidence in their international transitions.
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