Saudi Arabia grants 'premium residency' to 73 foreigners

Saudi Arabia's Premium Residency Center (SAPRC) announced on Monday that it has started granting premium residency in the Kingdom to the first batch of applicants who met the criteria.
 
In a statement issued today, the Center said that the first batch granted Premium Residency consists of applicants who are already residing in Saudi Arabia and applicants from abroad; adding that the total is (73), representing (19) nationalities.
They represent a wide spectrum of professionals including investors, doctors, engineers or financiers who want to live in Saudi Arabia with their families.
 
The Center said that it had received thousands of applications through its online portal from within and outside the Kingdom in the past few months. These applications were handled by a specialised team to analyze and communicate with the applicants to ensure a smooth application process in accordance with the Premium Residency regulations.
 
The Center also said that the Kingdom welcomes everyone - whether already residing in the Kingdom or based abroad - as the Premium Residency is open for anyone who meets SAPRC requirements.
 
The Premium Residency Center CEO, Mr. Bandar Al Ayed, said: "The Kingdom welcomes everyone. Applying for a Premium Residency is available to anyone who meets the relevant conditions, whether they are residing in the Kingdom or those wishing to come and settle here.
 
"Our country today is one of the most important destinations, whether for working or investing, or even for residing, in light of many advantages including the strategic location of the Kingdom, rich history and diversity, advanced infrastructure and most importantly, its security and stability.
 
"Since the first day the Premium Residency Center announced its online portal for applications, the specialized team in the Center has received thousands of applications that have entered the phases of analyzing and processing."
Types of residency and advantages
There are two types of residency: Permanent Premium Residency with a one-time fee of SAR800,000, and an annual renewable Premium Residency with an annual fee of SAR100,000, he said.
 
Both types of Premium Residency offer many advantages, besides enjoying living in Saudi Arabia, such as ease of obtaining business license, ownership of real estates and private vehicles, and usufruct rights on real estates in Makkah and Madinah.
Moreover, Premium Residents will be able to work in the private sector and move freely from entity to entity except for professions and jobs that are restricted to Saudi nationals. Furthermore, Premium Residency holders will be able to self-issue exit and entry visas, and obtain visit visas for relatives.
 
On June 23, the Center began receiving and processing the applications through the online portal. The Premium Residency Law was issued this year by a Royal Decree approved by the Council of Ministers, headed by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud.