The Premium Residency, informally known as the Saudi Green Card, is a
residence permit
A residence permit (less commonly ''residency permit'') is a document or card required in some regions, allowing a foreign national to reside in a country for a fixed or indefinite length of time.
These may be permits for temporary residency, or p ...
in
Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the A ...
that grants expatriates the right to live, work and own business and property in the Kingdom without need for a sponsor.
The scheme aims to attract highly skilled and wealthy foreign nationals as well as investors and entrepreneurs. The introduction of the Premium Residency comes as a part of
Saudi Arabia's Vision 2030 reform plan, which was announced by
Crown Prince Mohammed bin Salman to boost the
Saudi economy
The economy of Saudi Arabia is the largest in the Middle East and the eighteenth largest in the world. A permanent and founding member of the OPEC, Saudi Arabia is also a member of the G20 forum as one of the world's largest economies.
Saud ...
. The permanent residency is granted for
SAR
SAR or Sar may refer to:
Places
* Sar (river), Galicia, Spain
* Sar, Bahrain, a residential district
* Sar, Iran (disambiguation), several places in Iran
* Sar, Tibet, Tibet Autonomous Region of China
* Šar Mountains, in southeastern Europe
...
800,000 (US$213,000 as of 2022) while the one-year renewable residency costs SAR100,000 ($26,660).
The scheme is separate from the current
iqama
The Iqama or Iqamah ( ar, إِقَامَة, ') is the second call to Islamic Prayer, given immediately before prayer begins. Encyclopaedia of Islam, 2nd Edition Online. Edited by P. Bearman, Th. Bianquis, C.E. Bosworth, E. van Donzel, W.P. Heinric ...
residency because it grants more of the rights and privileges given to permanent residents in other countries. Current Saudi iqama holders must have a sponsor and must still regularly renew their permits based upon their employment status as well as the government's migration policy decisions. These have often changed over time with increased restrictions and fees. They are forbidden from independently owning property, vehicles, businesses, and investments in the country.
Requirements
Qualifying applicants are required to have a valid passport and evidence of sufficient financial resources. The renewable permit is issued for one-year and can be renewable for an unlimited number of times.
Benefits
Eligible foreigners enjoy some benefits, including recruiting workers, owning businesses, property, and means of transportation. Generally, they will be granted equal rights to Saudis in most cases. The permit does not grant citizenship and other laws pertaining to non-Saudis, such as restrictions against working in certain reserved occupations, still apply.
See also
Foreign workers in Saudi Arabia
Foreign workers in Saudi Arabia (), estimated to number about 9 million as of April 2013, began migrating to the country soon after oil was discovered in the late 1930s. Initially, the main influx was composed of Arab and Western technical, pro ...
References
Premium Residency CenterEligibility requirements for Premium Residency*
Saudi Arabian nationality law
Residence permit
2019 establishments in Saudi Arabia
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