5 NEW Visas to Work & Live in Saudi Arabia! (Expats Guide)

Saudi Arabia has taken a significant step towards solidifying its global presence by introducing five new categories of visas known as "Premium Residency products." These visas are strategically crafted to attract qualified individuals and investments, enhancing the country's status as a worldwide hub.

Overview of Saudi Arabia's New Premium Residency Programs

On Wednesday, Dr. Majid bin Abdullah Alkassabi, Chairman of the Premium Residency Centre, outlined the five new Premium Residency programs. He highlighted their role in advancing Saudi Arabia's shift towards a diverse, knowledge-based economy in emerging sectors.

Dr Alkassabi stressed that individuals capable of contributing to the national economy and supporting Saudi Vision 2030's development goals are eligible for these Premium Residency products.

However, details such as the duration of these visas and associated fees for business owners and investors have yet to be provided.

New Visa types in Saudi Arabia

The aim of this project is to advance the economic transformation of Saudi Arabia by creating job opportunities and facilitating the exchange of knowledge. The newly introduced Special Talent, Gifted, Investor, Entrepreneur, and Real Estate Owner Residency visa categories recently offer visas unparalleled prospects for individuals to settle in the country, surpassing any other visa category.

Who is eligible for New Saudi visas?

To qualify for Premium Residency in Saudi Arabia, applicants must meet specific requirements, varying by the residency product. General eligibility criteria include:

• Valid passports with at least six months of validity
• Financial stability evidenced by bank statements
• Clean criminal records for all applicants
• Medical reports confirming good health
• Proof of legal residency if applying from within Saudi Arabia

Attracting Top Talent: The Special Talent Residency Program

The Special Talent residency targets executives and professionals in healthcare, science, and research. It aims to draw individuals with exceptional skills and experiences to enhance knowledge and technology transfers and enrich Saudi Arabia's cultural scene.

Cultivating Excellence: The Gifted Residency Program

With a spotlight on the cultural and sports sectors, Saudi Arabia's "gifted" residency program aims to attract experienced professionals and exceptional individuals, driving further growth and innovation.

Investing in Growth: The Investor Residency Opportunity

For investors looking to leverage Saudi Arabia's thriving economic ecosystem and generate significant returns across various sectors, the "investor" residency program offers an ideal opportunity.

Empowering Entrepreneurs: The Entrepreneur Residency Program

This visa program is for entrepreneurs and innovators aiming to launch and expand start-ups in Saudi Arabia. There are two categories:

Category 1: Requires a minimum investment of SAR400,000 and 20% ownership in the start-up. Holders receive a five-year residency, renewable once if they reside in the country for at least 30 months during the initial period.

Category 2: Requires a minimum investment of SAR15 million and 10% ownership in the start-up. Holders get permanent residency by creating a minimum of 10 jobs in the first year and an additional 10 in the second year.

Unlocking Real Estate Opportunities: The Real Estate Owner Residency ProgramThe Real Estate residency, also known as the "Real estate owner" residency, is for people who own property and want to benefit from Saudi Arabia's growing real estate market. It's for those seeking to enjoy the Kingdom's excellent quality of life.

Conclusion:

The creation of these five new residency programs results from a collaborative effort between the Premium Residency Centre and its strategic government partners. These programs offer numerous advantages to holders, including the opportunity to start businesses, own real estate, obtain work permits for themselves and family members, and access other benefits provided by the Premium Residency Center in partnership with government agencies.

FAQs:

• What are the five new types of visas?

  The five new types of visas introduced in Saudi Arabia are Special Talent, Gifted, Investor, Entrepreneur, and Real Estate Owner residencies, each catering to different categories of individuals such as professionals, investors, entrepreneurs, and property owners.

• Who is eligible for each visa type?

  Premium Residency in Saudi Arabia requires:

  1. Valid passport (6+ months validity)
  2. Financial stability (bank statement proof)
  3. Clean criminal record (all applicants)
  4. Good health (medical reports)
  5. Legal residency proof (if applying internally)
• What are the benefits of each visa?

  The benefits of each visa include opportunities to run a business, own real estate, obtain work permits for oneself and family members, and access other advantages provided by the Premium Residency Center in collaboration with government agencies.

• How do I apply for each visa?

  The application process for each visa type may vary, but generally, applicants can apply through the Premium Residency Center or relevant government agencies. Detailed application requirements and procedures can typically be found on the official website of the Premium Residency Center or by contacting them directly.

• What are the costs associated with each visa?

  The costs associated with each visa type are not specified.

  Applicants may need to inquire directly with the Premium Residency Center or relevant government agencies for details regarding any associated fees or costs for obtaining each visa.

• How long does it take to process each visa application?

  The processing time for each visa application may vary depending on factors such as the specific visa type, the completeness of the application, and the current workload of the relevant authorities. It's advisable to check with the Premium Residency Center or the respective government agency for the most accurate information regarding processing times for each visa category.