As of yesterday, Saudi Arabia began accepting applications for their permanent residency program. The decision by the Cabinet aims to continue the growth and development in the Kingdom and allow those who’d like to live or invest in the Kingdom the opportunity to stay long term.
The Premium Residency Centre, an online platform, accepts applications and below is 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 SAR800,000 ($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 ($26,668).