Saudi Green Card Slashed To SAR 4,000! How To Apply For Sponsor-Free Residency As A Talent, Investor, Or Entrepreneur | World News

Saudi Arabia has significantly lowered the cost barrier for highly skilled international talent by proposing a new one-time issuance fee of SAR 4,000 (approximately $1,065) for Premium Residence Permits in five specific areas. Launched in January 2024, this initiative offers qualified expatriates a low-cost and sponsor-free route to live, work and invest in the Kingdom.

The cost is a big cut from the previous cost of SAR 100,000 per year for limited-term residence. The new lower price aims to fully and directly include people who meet high eligibility criteria in fast-growing sectors of the economy.

Five Ways to an Affordable Premium Residence

First introduced in 2019, the expanded Premium Residency plan now includes seven general tracks; five of these qualify for the new lower regulatory fee of SAR 4,000. These departments aim for specialized expertise and established financial capability, providing independence from the traditional iqama (work permit) system and local sponsorship.

Part, Target Group, Essential Compliance Requirements

Saudi Arabia’s Premium Residency program offers different ways to attract diverse foreign talent and investors to the Kingdom. The Specialty field targets senior professionals in healthcare, science, research or executive roles; It requires key applicants to have a bachelor’s degree, have at least three years of experience, and meet a minimum salary threshold ranging from SAR 14,000 to SAR 80,000+ depending on the profession.

For those with extraordinary abilities, there is a Gifted section for talents in the fields of culture, art and sports; Eligibility is subject to receipt of approved awards or advice from the relevant ministry and proof of financial viability.

Investor residency is designed for foreign nationals with significant capital, which requires a minimum investment of SAR 7 million in approved Saudi companies and a commitment to create a minimum number of jobs. Alternatively, the Entrepreneur pathway caters to founders of promising startups with guaranteed funding, requiring a qualified startup license and a minimum investment of SAR 400,000 backed by an accredited accelerator.

Finally, Owner residency is offered to non-Saudi nationals who own high-value residential property, which requires ownership or usufruct of residential real estate valued at SAR 4 million or more, which needs to be developed and must be unencumbered.

Applicants must meet these stringent, track-specific requirements to qualify for the affordable SAR 4,000 fee and generally receive five-year renewable residency.

Save Benefits and Freedom

The SAR 4,000 Premium Residency provides the beneficiary and their dependents (spouse, children under 25 and possibly parents) with a number of benefits far beyond the scope of a basic work visa:

Sponsor-Free Lifestyle: Freedom to live, work and invest without needing a local sponsor.

Freedom of Movement: Visa-free entry and exit, including through exclusive airport lanes.

Business Flexibility: Freedom to work in the private sector and change jobs.

Ownership: The right to own residential, commercial and industrial real estate (except Mecca, Medina and border areas).

Business Participation: The right to participate in commercial activities according to the Investment Law.

Financial Exemptions: Companion fees as well as fee waiver on change of non-Saudi employment.

Application Requirements and Process

To apply, applicants must ensure they meet general requirements such as being over 21 years of age, having a valid passport, having a good criminal record and having a recent medical certificate.

The entire process is done online via the official Premium Residency Center website (pr.gov.sa):

• Choose your Track based on your professional background, investment or property ownership.
• Gather Detailed Documents (employment contracts, business licenses, valuations of your property, bank statements, etc.).
• Apply online and submit everything.

Review and Approval: A verified account manager checks the submission and informs the applicant of disclosure requirements.

Fee Payment: Once approved, the applicant pays the issuance fee of SAR 4,000 and provides proof of compulsory health insurance before residence permit cards can be issued.

This cost-saving approach makes Saudi Arabia a globally competitive destination for high-value expatriates willing to contribute to the Kingdom’s economic vision in the long term.

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