Start-Up Entrepreneurs And Investors Can Get 'Premium Residency' In Saudi Arabia

You could suffice for residency successful Saudi Arabia if you're a start-up entrepreneur, investor, oregon existent property owner, according to the government's website. The Premium Residency visa allows holders to unrecorded and enactment successful the kingdom, and ain spot without a sponsor.

Saudi Arabia has had a Premium Residency programme since 2019, and it added 5 caller categories eligible for qualification successful 2024, including Investor, Entrepreneur, and Real Estate Owner.

The categories were added arsenic portion of the country's Vision 2030 betterment plan, which seeks to diversify Saudi Arabia's system distant from oil.

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The qualifications for Premium Residency depends connected the class you use under. The exertion interest for each is 4,000 Saudi riyals ($1,066).

Here are the eligibility requirements, according to Saudi Arabia's website.

The Business Investor Residency is simply a five-year visa that requires applicants to put astatine slightest 7 cardinal riyals successful a Saudi institution and get an concern license. Permanent residency is granted if the capitalist injects different 7 cardinal riyals and creates astatine slightest 10 jobs successful the archetypal 2 years of their residency.

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There are 2 categories for start-up entrepreneurs seeking Premium Residency successful Saudi Arabia. The archetypal grants you a five-year residency visa that's lone renewable once, and the 2nd is simply a imperishable visa.

Applicants seeking the archetypal class indispensable clasp astatine slightest 20% of shares successful a Saudi Arabia-based start-up, clasp an entrepreneur licence from the Ministry of Investment, and get a minimum concern of 400,000 Saudi riyals from an accredited entity. You'll besides request a proposal missive from the concern entity.

Applicants seeking imperishable residency indispensable besides get an entrepreneur licence and proposal letter. They indispensable support a 10% stock successful a Saudi company, person a minimum concern of 15 cardinal Saudi riyals from an accredited entity, and make 10 jobs successful the archetypal twelvemonth of residency and different 10 successful the second.

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Those who suffice for either class are capable to nominate 2 of their unit members for Special Talent Residency. Both categories are besides exempt from a regularisation requiring businesses to prosecute a definite percent of Saudi nationals for the archetypal 3 years of operation.