Let’s Talk
Simplify Employee Mobility & HR Ops In KSA With Our Latest Guidebook Download in English Download in Arabic Download in Chinese
Insights   >   A Comprehensive Guide to Saudi Arabia's Premium Residency Program

A Comprehensive Guide to Saudi Arabia's Premium Residency Program

Author: Amit Anand
Mar 22, 2024
Employers • KSA

As the Kingdom opens its doors wider to global talent and investors, understanding the nuances of this programme becomes crucial for those seeking to make Saudi Arabia their new home or investment hub. In this blog, we delve into the various categories of Premium Residency, shedding light on the benefits, requirements, and application process, guiding you through your journey towards securing a place in this vibrant and diverse country.

The Premium Residency programme comes in two main types: a one-year renewable option and an unlimited duration option. The programme has now been opened to more specific categories, including:

- Gifted Residency: For outstanding individuals in the sports, cultural, and artistic fields, also valid for 5 years with renewal potential and an exemption from Saudisation requirements.

- Investor Residency: Offers permanent residency for those willing to invest a minimum of SAR 7 million, generating at least 10 jobs within the first two years.

- Entrepreneur Residency: Divided into two categories, one requiring a minimum investment of SAR 400,000 and a 20% stake in a startup, and the other requiring a minimum of SAR 15 million investment, both aimed at fostering job creation and economic growth.

- Real Estate Owner Residency: For individuals owning real estate worth a minimum of SAR 4 million, with the residency duration tied to the ownership of the property.

- SAR 100,000: The Premium Residency in Saudi Arabia for 100,000 SAR refers to a renewable, one-year residency option under the Saudi Premium Residency programme, also known as the "Saudi Green Card" or "Saudi Golden Visa." This option allows foreign nationals to live, work, and own business and property in Saudi Arabia without a local sponsor. It's part of the Kingdom's efforts to attract skilled professionals, investors, and entrepreneurs.

- SAR 800,000: The SR 800,000 Premium Residency is a permanent residency option that does not require renewal, unlike the one-year renewable option priced at SR 100,000.

Other Types of Premium Residencies

The Premium Residency in Saudi Arabia, tailored for exceptional talents across various fields, has specific salary requirements for eligibility under its Special Talent category. Here's a breakdown based on the available information:

  • Special Talent Residency targeting professionals in health, science, research, and executive leadership, valid for 5 years with possible renewal and exemption from the Nitaqat programme.
  • Iqama holders Residency must earn a minimum salary of SAR 80,000 per month. (This is also applicable for the first three employees of the RHQ, to remain in Premium Residency as long as they are in the RHQ IQAMA)
  • Professionals in healthcare and sciences need to have a minimum salary of SAR 35,000 per month.
  • Researchers are required to have a minimum wage of SAR 14,000 per month.

These categories are designed to attract highly skilled professionals, contributing significantly to the Kingdom's socio-economic development in line with Vision 2030 objectives. The Premium Residency offers a plethora of benefits, including the ability to conduct business, travel without needing an exit/re-entry visa, own real estate, and transfer Iqama without any fee among others. It further extends to granting premium residency to the spouse and children under 25, with no dependent fee required for family members.

To apply for Premium Residency in Saudi Arabia, follow these steps:

  1. Register an Account: Start by creating an account on the official Premium Residency Portal saprc.gov.sa.
  2. Fill Application Form: Log in and fill out the application form with your personal, family, education, and professional details.
  3. Document Submission: Upload required documents, including passports, IDs, financial statements, and others as specified.
  4. Payment: Pay the application processing fee.

After submitting your application for the Saudi Premium Residency, the government will review it. If your application is approved, you'll receive an email notification to proceed with the payment for the residency. You must make this payment within 30 days of receiving the acceptance notification. The specific timeframe for the approval process itself, from submission to notification, isn't explicitly mentioned, so it may vary depending on the individual case and the current workload of the Premium Residency Centre.

Frequently Asked Questions (FAQs):

Can a non-Saudi resident apply for a premium iqama?

Yes, non-Saudi residents can apply for a Premium Iqama. This residency scheme is designed to attract skilled expatriates, investors, and entrepreneurs by offering them enhanced living, working, and investment benefits in Saudi Arabia without a sponsor.

What is the process for a non-Saudi resident to apply for a premium iqama?

If an individual does not have a Saudi Iqama, they can still apply for the SAR 100,000 Premium Residency in KSA. In such cases, the focus shifts to other required documents like passport details, financial statements, proof of address, and other personal information that confirms the applicant's identity, financial stability, and eligibility for the residency programme.

What are the prerequisites for the 800,000 premium residencies in KSA?

For the SAR 800,000 Premium Residency in KSA, applicants typically need to provide a comprehensive set of documents. This includes personal identification like passports, financial statements to prove financial stability, a clean criminal record, medical reports confirming good health, and any relevant certificates showcasing professional skills or qualifications. Additionally, details about family members, if they are to be included, must be provided. This package aims to assess the applicant's eligibility based on financial, professional, and health criteria.

Can a non-Saudi resident apply for an 800,000-premium residency in KSA?

Yes, non-Saudi residents can apply for the SAR 800,000 Premium Residency in KSA. This programme is designed to attract skilled professionals, investors, and entrepreneurs from around the world, offering them the opportunity to live, work, and invest in Saudi Arabia with greater freedom and without the need for a local sponsor.

What prerequisites do healthcare workers need to provide for premium residency?

Healthcare workers applying for Premium Residency in KSA need to submit their professional qualifications, including medical degrees, licences to practice, proof of employment or experience in the healthcare sector, any awards or recognitions, financial stability documents, personal identification such as passports, and, if previously obtained, any Saudi visas. This documentation is crucial for verifying their credentials and eligibility for the residency programme.

What prerequisites do researchers need to provide for premium residency?

Researchers applying for Premium Residency in KSA need to submit documents that highlight their professional and academic achievements, including degrees, publications, proof of experience (such as employment contracts and recommendation letters), and any awards or recognitions in their field. Additionally, they should provide financial statements, personal identification documents, and if applicable, any previous Saudi visas.

What prerequisites do IQAMA holders earning SAR 80,000 need to provide to get a premium residency?

For Iqama holders earning SAR 80,000 to apply for a Premium Iqama, the required paperwork typically includes proof of income to verify the salary, personal identification such as a passport, a current Iqama, a no-objection certificate from the current employer (if applicable), medical fitness reports, and a clear criminal record certificate. Additionally, financial statements or bank statements demonstrating financial stability might also be required.

Need Assistance Getting a Premium Residency? TASC is At Your Service

Whether you're an investor aiming to explore the vibrant Saudi market, an entrepreneur aspiring to expand your business in the Kingdom, or an employer considering advantageous prospects for your workforce, the Saudi Premium Residency programme is your gateway to countless opportunities. This initiative is designed to facilitate your ambitions, offering a unique blend of benefits that cater to individuals and businesses alike.

Don't miss out on the chance to transform your professional landscape and that of your employees. The Premium Residency programme is more than just a residency; it's a stepping stone to a prosperous future in one of the fastest-growing economies in the world. Embrace this opportunity to establish a strong foothold in Saudi Arabia, ensuring a brighter future for you and your team.

Begin your journey today by reaching out to our team of experts at TASC. We are committed to providing you with comprehensive support and guidance every step of the way, ensuring a seamless transition to your new venture in the Kingdom. Contact us now to unlock a world of possibilities for you and your employees.

Do you wish to be redirected to www.tascoutsourcing.com