Saudi Arabia’s Premium Residency Program: A Gateway for Top Foreign Talent and Investors
In a bid to attract skilled professionals, talented individuals, and investors, Saudi Arabia’s residency program hosted a workshop in Riyadh on Wednesday. The Premium Residency Program, introduced in 2019, aims to bring top foreign talent to the Kingdom through five distinct residency categories.
The Categories of Premium Residency
The residency program targets expatriates looking to secure premium residency in Saudi Arabia. The five categories include special talent, gifted, entrepreneur, investor, and real estate residencies. Each category caters to a specific group of individuals with unique skills and qualifications.
Focus on the Entrepreneur Category
The recent workshop in Riyadh shed light on the entrepreneur category of the Premium Residency Program. This category includes two sub-categories for entrepreneurs and innovators who contribute to the growth of various industries in Saudi Arabia.
Requirements and Benefits of Entrepreneur Residency
Category one of the entrepreneur residency offers a five-year premium residency to applicants who meet specific criteria, including obtaining an entrepreneurial license and securing a minimum investment. Category two grants permanent residency to entrepreneurs who create a specified number of jobs and demonstrate a significant investment in their business.
Advantages of Premium Residency
The benefits of the entrepreneur residency extend beyond residency status. Holders of premium residency can nominate team members for exceptional competence residencies, own real estate, issue visit visas for relatives, and enjoy various exemptions and privileges within the Kingdom.
Positive Outlook on the Program
Attendees of the workshop, such as Sarah Al-Hamad, expressed optimism about the impact of the Premium Residency Program on economic growth and cultural exchange in Saudi Arabia. The program not only attracts top talent but also fosters networking opportunities and discussions on funding and mentorship.