Saudi Arabia’s Premium Residency Centre announced on January 10th the launch of 5 new premium residency categories aimed at attracting talent and investment to the Kingdom. Below are the key eligibility criteria for each option:
-
Real Estate Owner Residency
- Own a freehold or usufruct interest in KSA real estate assets worth at least SAR 4 million.
- The real estate must be mortgage-free and residential.
- The property cannot be undeveloped or unimproved land.
- Subject to appraisal by KSA accredited valuers (‘Taqeem’).
- Residency duration tied to the term of real estate ownership.
-
Investor Residency
- Must hold an investment license.
- Invest a minimum of SAR 7 million within 2 years.
- Create a minimum of 10 jobs in Saudi Arabia.
-
Special Talent Residency
- Special talents in Science & Research or Health Care.
- Minimum education level: Bachelor’s degree.
- Minimum 3 years of work experience in the specialist field.
- Employed by a whitelisted company with minimum salary requirements.
- Requires a recommendation letter from the employer.
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Gifted Residency
- Recommended by the Ministry of Sports or Culture.
- Must meet the Ministry’s eligibility criteria.
- Applicant bears the cost of living in Saudi Arabia.
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Entrepreneur Residency
- Category 1:
- Obtain an entrepreneur license from the Ministry of Investment.
- Invest a minimum of SAR 400,000 from an accredited entity.
- Minimum 20% share in the company.
- Requires a recommendation letter from the investment entity.
- Category 2:
- Obtain an entrepreneur license from the Ministry of Investment.
- Invest a minimum of SAR 15 million from an accredited entity.
- Minimum 10% share in the startup company.
- Create a minimum of 10 jobs in each of the first two years of operation.
- Category 1:
