Saudi Arabia Unveils Premium Residency Programs for Foreigners: A Gateway to New Opportunities

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 three tiers of Premium Residency

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:

• Permanent residency in Saudi Arabia, encompassing parents, spouses, and children below the age of 25.
• Flexibility in transferring between various entities, such as employers, projects, or business ventures.
• Waiver of financial charges typically levied on expatriates and their accompanying family members.
• Unrestricted entry and exit from the Kingdom without the need for a visa.
• Availability of visitor visas for relatives.
• Utilization of designated entry and exit lanes at ports and airports.
• The entitlement – for the main applicant, spouse, and children – to pursue employment within private sector establishments and move freely between them.
• The right to own real estate within the Kingdom.

Requirements for Premium Residency

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.

Fostering economic growth and cultural exchange

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.

Together with Alpen Partners International

Alpen Partners International is an independent Swiss wealth manager providing Swiss-based financial advice and global wealth planning services to American clients domiciled in the US and 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.