Distinctive accommodation in Saudi Arabia
Saudi Arabia is the land of promising opportunities and is the ideal market for investors and businessmen in light of the economic weight of the Kingdom of Saudi Arabia
It is one of the countries of the Arabian Gulf and is considered one of the largest countries in the Middle East in terms of area and population. Saudi Arabia alone constitutes the largest percentage of the area of the Arabian Peninsula, amounting to about 80%, and is ranked twelfth among the largest countries in the world in terms of area. Saudi Arabia is characterized by its diverse terrain, from deserts to highlands and plains. It overlooks the Red Sea and the Arabian Gulf, and is bordered by the Emirates, Qatar, and Bahrain to the east, Kuwait, Iraq, and Jordan to the north, and Yemen and Oman to the south.
The Kingdom of Saudi Arabia launched the Premium Residency System, or what is sometimes known as the Saudi Green Card, in 2019 in order to enhance the competitive capabilities of the Kingdom’s economy, encourage entrepreneurs, and attract investors who wish to carry out their business and commercial activities legally in Saudi Arabia, as well as in order to reduce... The phenomenon of commercial concealment, which means that non-Saudi individuals carry out commercial activities in Saudi Arabia without obtaining a foreign investment license, through the license granted to a Saudi citizen or a licensed foreign investor.
The Premium Residency Program in Saudi Arabia offers two options, depending on the cost required from the applicant. The first option is to obtain residency in Saudi Arabia for a period of one year, renewable, while the second, more expensive option, is to obtain permanent residency in Saudi Arabia. The holder of the distinguished residency card and his eligible family members obtain the right to reside in Saudi Arabia, and they can also invest or work in Saudi Arabia in private sector jobs and move between them, in addition to a large group of other benefits, most of which are not available to other residents of Saudi Arabia.
Applications for premium residency are processed through a government agency created specifically for this purpose, which is the Premium Residency Center, which is affiliated with the Council of Economic and Development Affairs from an organizational standpoint, but enjoys financial and administrative independence. It exercises its duties in coordination with all government agencies and sectors in Saudi Arabia in order to facilitate procedures. Obtain Saudi premium residency.
Premium residency for a limited period in Saudi Arabia
You can obtain premium residency in Saudi Arabia for one year for 100,000 Saudi riyals. This residency is renewable for an unlimited number of years for the same amount (100,000 Saudi riyals for each year). You can also benefit from a 2% reduction on these fees if you apply for Saudi premium residency for more than one year, but in that case the fees must be paid in advance to benefit from the reduction for each year on a cumulative basis. This residency is suitable for investors and businessmen who want to undertake a fixed-term investment project in Saudi Arabia or who want to experience the distinctive residency and investment in Saudi Arabia on the ground before making the final decision to apply for the distinguished permanent residency and settle in the Kingdom.
Holders of a fixed-term premium residency in Saudi Arabia must note that if that residency is terminated during the year, whether after obtaining it or after renewing it, the applicant will not be entitled to a refund of the fees equivalent to the remaining period, as the premium residency fees in Saudi Arabia are non-refundable.
Permanent privileged residency in Saudi Arabia
For foreigners who wish to obtain permanent residency in Saudi Arabia, the Premium Residency Program provides a second option through which they can obtain premium residency for an indefinite period for an amount of 800,000 Saudi riyals, which the applicant pays once, and then he can enjoy premium residency in Saudi Arabia for an indefinite period. Named. The holder of premium residency in Saudi Arabia has the right to add eligible family members (wife and children under 21 years of age, regardless of their number), and each of these dependents obtains premium residency in Saudi Arabia without paying any financial compensation for the residence. Parents and children older than 21 years of age can also obtain residency in Saudi Arabia under the sponsorship of the premium residency holder, but they will only become companions and will not enjoy the benefits of premium residency.
Special residence fees in Saudi Arabia
Distinctive residency conditions in Saudi Arabia
Advantages of residence in the Kingdom of Saudi Arabia
The Kingdom of Saudi Arabia has one of the largest and fastest-growing economies in the world, and is a member of the G20. It also possesses many natural resources such as oil, natural gas, and minerals. Saudi Arabia is considered the largest oil exporter in the world. In addition to oil, the investment sectors in the Kingdom are diverse, such as religious tourism, as it is the destination of the Islamic world that millions go to every year to perform Hajj and Umrah. There are also other sectors that are no less important for those wishing to invest in Saudi Arabia, such as communications, renewable energy, and others.
In light of the economic weight of the Kingdom of Saudi Arabia and its world-class infrastructure, facilities and facilities, Saudi Arabia is the land of promising opportunities and is the ideal market for investors and businessmen. Living in Saudi Arabia is also considered a wonderful experience thanks to the presence of many upscale cities such as the capital, Riyadh, Jeddah, Medina, and Dammam, and the diverse society that includes expatriates from all cultures and ethnicities, and the warm weather throughout the year, all in addition to the wonderful landscapes and picturesque beaches.
Special residency requirements in Saudi Arabia
Before proceeding with the application process for premium residency in Saudi Arabia, applicants need to ensure that they have all the documents required to obtain premium residency in Saudi Arabia, which are as follows:
All documents described above must be submitted in either Arabic or English or have a certified translation into one of these two languages.
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Steps to apply for premium residency in Saudi Arabia
After meeting the requirements for premium residency in Saudi Arabia, you can easily apply for premium residency for a limited period or permanent residency in Saudi Arabia through the following steps:
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The office of Muhammad Maqd Al-Baqami Law Firm and Legal Consultation is one of the leading offices in the legal profession in the Kingdom of Saudi Arabia. It consists of a distinguished elite of professional cadres of lawyers and consultants in all legal fields. We provide legal services with high quality and professional performance that serve private companies, government sectors and individuals.
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