Business Travel and Immigration Post-Brexit
Ensure your business and workforce are compliant with the new immigration regulations.
SAUDI ARABIA: New Permanent Residence Scheme [UPDATED]
June 28, 2019
The Saudi government has begun accepting applications for its new permanent residence scheme, similar to the green card systems used elsewhere, which aims to attract affluent and highly-skilled foreign nationals.
Unlike the present system, the Premium Residency scheme will not require applicants to have a Saudi sponsor. In addition, holders will be able to work, obtain visas for relatives, hire workers, own property and transport, and leave and re-enter the country without an exit/re-entry visa.
The Premium Residency Centre, an online platform, accepts applications and below are the criteria for applicants:
- The applicant must have a valid passport;
- The applicant must be at least 21 years of age;
- The applicant must not have a criminal record;
- The applicant must provide evidence of their financial solvency;
- The applicant must provide a health report on the health status of the applicant;
- The applicant must hold a valid Iqama if applying from within the Kingdom.
There are two options for those applying for residency:
Option 1: Unlimited Duration Premium Residency (SP1)
This option gives lifetime residency in the Kingdom and has a one-time fee of SAR 800,000 (USD 213,340).
Option 2: Limited Duration Premium Residency (SP2)
The SP2 option gives a one year residency permit and costs an annual fee of SAR100,000 (USD 26,668).
Employers who may be affected are encouraged to contact their Newland Chase immigration specialist for case-specific advice.
For general advice and information on immigration and business travel to Saudi Arabia, please email us at email@example.com