In a groundbreaking move towards economic transformation, the Kingdom of Saudi Arabia unveiled on Wednesday a strategic initiative by introducing 5 new categories for exclusive residency permits. This step aims to attract more talents and investors capable of positively impacting the national economy.
New Categories: Incentives for Diverse Segments
1-Exceptional Competence Residency
The “Exceptional Competence Residency” is an ideal choice for individuals possessing outstanding managerial, health, scientific, or research capabilities. This visa targets those with qualitative skills or experiences, along with senior executives contributing to knowledge transfer to the national workforce.
General Benefits of Exceptional Competence Residency
Family Residency
This program grants beneficiaries the privilege of residing in the Kingdom with their families, including parents, spouses, and children below the age of 25.
Freedom of Movement
Exceptional Competence Residency provides beneficiaries with the freedom to move between facilities, enabling them to choose a residence that aligns with their needs.
Financial Exemption
Included in the general benefits is the exemption of beneficiaries and their companions from the financial fees imposed on expatriates, alleviating the financial burden on them.
Travel Facilitation
Holders of exceptional residence permits and their families can enter and exit the Kingdom without the need for a visa, with the possibility of issuing visit visas for relatives.
Private Sector Employment
Exceptional Competence Residency allows individuals to work in private sector establishments, facilitating seamless transitions for spouses and children.
Investment and Trade Opportunities
The program enables the pursuit of business activities according to the investment system, with the option to own and benefit from real estate.
Exclusive Advantages for Premium Residency Holders
Permanent Residency
Distinguished holders of exceptional residence permits attain permanent residency upon meeting specified conditions, providing them with enduring stability in the Kingdom.
Exemption from Nitaqat Program
Basic holders of exceptional residence permits enjoy an exemption from the Nitaqat program, contributing to further facilitation.
Eligibility Criteria
Researchers and Scientific Competencies
- Employment contract in specified priority fields.
- Monthly total income not less than 14,000 Saudi Riyals.
- Bachelor’s degree or higher.
- Minimum 3 years of relevant work experience.
- Compliance with the minimum points system.
- Letter of recommendation from the employer.
Health and Scientific Competencies
- Employment contract in specified priority fields.
- Monthly total income not less than 35,000 Saudi Riyals.
- Bachelor’s degree or higher.
- Minimum 3 years of relevant work experience.
- Compliance with the minimum points system.
- Letter of recommendation from the employer.
Executive Path
- Employment contract in a leadership position in a specified entity.
- Monthly total income not less than 80,000 Saudi Riyals.
- Letter of recommendation from the employer (Level 2).
Duration and Financial Compensation
Exceptional Competence Residency offers specific, renewable residency periods, with the possibility of obtaining permanent residency after meeting the conditions. The financial compensation stands at 4,000 Saudi Riyals.
2-Talent Residency
Tailored for talented individuals and specialists in cultural and sports fields, the “Talent Residency” provides an opportunity for those with exceptional skills in artistic and sports domains to be part of the cultural and sports movements in the Kingdom.
General Advantages
- Family Residency in Saudi Arabia The Talent Residency program enables talented individuals to reside in the Kingdom of Saudi Arabia alongside their families, including parents, spouses, and children under 25 years old.
- Freedom of Movement Across Facilities This program grants the freedom to move between facilities within the kingdom, empowering talents to choose a location that aligns with their needs and preferences.
- Financial Exemption Residency holders are exempted from the financial fees usually imposed on expatriates and their dependents, alleviating the financial burden on their shoulders.
- Private Sector Employment Exceptional Talent Residency allows individuals to work in private sector establishments and transition between them, be it for spouses or children.
- Business Ventures The distinguished residency opens avenues for engaging in business activities according to the investment system, providing wide-ranging opportunities to capitalize on market prospects.
Special Advantages
- Permanent Distinguished Residency Holders of Distinguished Residency are granted permanent residency upon meeting specified conditions, ensuring the continuity of residency and the enjoyment of special benefits in the long run.
- Exemption from Domains Program Distinguished Residency holders enjoy an exemption from the Domains Program, enhancing their freedom to choose and move within the kingdom.
Eligibility Criteria
Track One
- Nomination or Attainment of Exceptional Awards This track requires a nomination or attainment of one of the specified exceptional awards in the applicant’s field.
- Minimum Financial Standing Applicants must achieve the minimum financial standing to ensure their ability to cover living costs in the Kingdom.
- Recommendation from Relevant Authorities A recommendation from the Ministry of Culture or the Ministry of Sports, depending on the applicant’s field, is essential.
Track Two
- Fulfillment of Eligibility Criteria Applicants must meet the minimum requirements outlined by the Ministry of Culture and Sports.
- Minimum Financial Standing Similar to Track One, applicants need to meet the minimum financial standing to cover living costs in Saudi Arabia.
- Recommendation from Relevant Authorities Obtaining a recommendation from the Ministry of Culture or the Ministry of Sports is mandatory for this track as well.
Residency Duration
Residency is initially granted for five years, renewable once upon meeting the program’s eligibility criteria. Permanent residency can be achieved by continuously meeting eligibility standards during the specified residency period and obtaining a recommendation from the relevant authorities.
Financial Compensation
Distinguished Residency holders are subject to a financial compensation of 4,000 Saudi Riyals.
3-Business Investor Residency
Designed for investors seeking to invest in various economic sectors in the Kingdom, the “Business Investor Residency” category offers new opportunities to stimulate the local economy by attracting capital and developing promising projects.
General Benefits
1. Permanent Residency in the Kingdom
This distinctive program grants investors the opportunity for permanent residency in Saudi Arabia, extending to their families, including parents, spouses, and children under 25. This not only fosters a familial atmosphere but also creates a conducive environment for work and investment.
2. Freedom of Movement
Holders of IBR can seamlessly move between establishments, facilitating exploration of various economic opportunities and maximizing the benefits of their experiences.
3. Financial Exemption
Investors and their dependents enjoy exemption from the financial fees imposed on expatriates, reducing costs and enhancing the investment appeal in the Kingdom.
4. Exit and Re-entry Rights
With this program, IBR holders and their families can leave and return to the Kingdom without the need for a visa, simplifying travel and facilitating business operations.
5. Visas for Relatives
Providing visit visas for relatives enhances family communication, contributing to the strengthening of social bonds.
Business-Specific Advantages
1. Work in Private Sector Establishments
The flexibility to work in private sector establishments and move between them extends to spouses and children, fostering a diverse and enriching work experience.
2. Business Ownership and Operation
Investors can engage in business activities according to the investment system, enabling them to own and benefit from real estate.
Special Features
1. Distinguished Permanent Residency
This feature grants investors permanent residency in Saudi Arabia, bolstering stability and opening new horizons for economic development.
Eligibility Criteria
To qualify for this program, investors must meet the following conditions:
1. Investment License Acquisition
Investors are required to obtain an investment license from the relevant authorities.
2. Minimum Investment
Investors must commit to a minimum investment of not less than 7 million Saudi Riyals in economic activities within the Kingdom, with evidence of investment injection during the initial two years.
3. Employment of Workers
Investors must employ a minimum of 10 workers in the Kingdom during the first two years, contributing to the enhancement of local employment opportunities.
Residency Duration
Permanent residency is granted directly, contingent on meeting the following conditions:
- Injecting 7 million Riyals within the first two years.
- Creating 10 jobs within the initial two years.
Financial Considerations
To participate in this program, investors are required to pay a financial fee of 4,000 Saudi Riyals.
4-Entrepreneur Residency
Entrepreneurs and owners of innovative projects have the chance to launch or develop their startups in the Kingdom through the “Entrepreneur Residency.” This category is a significant step towards supporting the spirit of entrepreneurship and encouraging innovation.
General Advantages
1. Residency with Family
Entrepreneurs can revel in the opportunity to reside in Saudi Arabia with their families, including parents, spouses, and children under 25 years old.
2. Facility Mobility
Residency holders have the freedom to move between different facilities, providing flexibility in choosing work environments that align with their needs and aspirations.
3. Financial Exemption
Entrepreneur residency exempts holders from the financial fees imposed on expatriates and their dependents, alleviating financial burdens.
4. Visa-free Travel
Residency holders can exit and re-enter the Kingdom without the need for a visa, facilitating seamless travel and business management.
5. Visit Visas for Relatives
The provision of visit visas for relatives fosters family communication and social interaction.
6. Utilization of Dedicated Channels
Entrepreneur residency holders can utilize dedicated channels for citizens and Gulf Cooperation Council (GCC) nationals at entry points, streamlining travel operations.
7. Private Sector Employment
The residency opens doors for entrepreneurs to work in private sector establishments, enabling them to transition freely, contributing to professional growth.
8. Business Ownership
It provides unique opportunities for business ownership under the investment system, paving the way for innovation and success in the business realm.
9. Property Ownership and Utilization
Entrepreneur residency grants holders the right to own and benefit from properties, enhancing personal and professional stability.
Special Advantages
1. Nomination for Exceptional Competence Residency
Entrepreneur residency grants the right to nominate two team members for exceptional competence residency, exempting them from certain criteria.
2. Exemption from Fees for the First Three Years
Establishments under the entrepreneur residency umbrella enjoy exemption from certain fees during their initial three years of operation, boosting the prospects of startup success.
3. Direct Eligibility for Premium Permanent Residency
For the second category, there is a direct path to premium permanent residency, contingent upon creating at least 10 jobs in the first year and an additional 10 jobs in the second year.
Eligibility Criteria
1. First Category
- Obtain entrepreneurial license from the Ministry of Investment.
- Investment rounds totaling at least 400,000 Saudi Riyals from an accredited investment entity.
- Recommendation letter from the investing entity.
- Applicant’s share in the company not less than 20%.
2. Second Category
- Obtain entrepreneurial license from the Ministry of Investment.
- Investment rounds totaling 15 million Saudi Riyals from an accredited investment entity.
- Recommendation letter from the investing entity.
- Applicant’s share in the startup not less than 10%.
- Creation of at least 10 jobs in the first year and an additional 10 jobs in the second year.
Residency Duration
- First Category: Specific residency for five years, renewable.
- Second Category: Premium permanent residency conditional upon creating at least 10 jobs in the first year and an additional 10 jobs in the second year.
Financial Considerations
Entrepreneurs availing this residency program are subject to a financial fee of 4,000 Saudi Riyals.
5-Property Owner Residency
For property owners looking to obtain an exclusive residency and settle in the Kingdom, the “Property Owner Residency” category allows them to benefit from economic and investment advantages without hassle.
Advantages of the New Residencies: Supporting Business and Stability
These new residencies provide holders with a range of benefits and privileges, enhancing job opportunities and investment prospects in Saudi Arabia.
- Business Operations: Holders of these residencies can conduct business operations freely and flexibly.
- Property Ownership: Property owners have the chance to own and fully utilize their properties.
- Work Permits for Residents and their Families: Holders have the opportunity to work freely and enjoy stability with their families.
- Hosting Relatives: The possibility of inviting family and friends to visit and spend quality time together.
- Financial Exemption for Dependents: Financial facilities for residency holders with dependents.
- Domestic Worker Recruitment: An opportunity to easily bring in domestic workers.
- Vehicle Ownership: Residency owners have the right to own and use transportation means like citizens.
- Visa-Free Travel to and from the Kingdom: The freedom to travel between the Kingdom and abroad without obstacles.
Boosting the Economy and Encouraging Innovation
This strategic move by the Kingdom of Saudi Arabia reflects its commitment to a sustainable and diverse economy based on knowledge and investment in innovative sectors. Opening doors to talents and investors strengthens the Kingdom’s position as a preferred destination for living and working.
