Saudi Arabia has recently introduced five new visa types, collectively termed as ‘Premium Residency products’, marking a significant stride in attracting skilled professionals and investors to the country. This move is part of the Kingdom’s effort to enhance its standing as a global hub and drive its economic transformation under the Saudi Vision 2030.
Dr Majid bin Abdullah Alkassabi, Chairman of the Board of the Premium Residency Centre, announced these categories on Wednesday, emphasizing their role in accelerating the country’s shift towards a knowledge-based, diversified economy. The new visas are designed for specific categories of working professionals, talents, and investors.
The visa categories include:
Special Talent: Targeting executives and professionals in healthcare, science, and research, this visa aims to attract individuals with unique skills to contribute to knowledge and technology transfers.
Gifted: Focused on integrating skilled professionals into Saudi Arabia’s cultural and sports sectors.
Investor: Tailored for those looking to invest in Saudi Arabia’s burgeoning business landscape.
Entrepreneur: Aimed at aspiring entrepreneurs and innovative project owners looking to launch and grow their start-ups in Saudi Arabia.
Real Estate Owner: For individuals owning real estate in Saudi Arabia, offering benefits in line with the Kingdom’s rapidly developing real estate market.
These new visa products have been developed in collaboration with various government entities and offer holders a range of benefits. These include the ability to conduct business, own real estate, and obtain work permits for themselves and their family members.
While these visas open doors for individuals who can add value to the national economy, specifics regarding their duration and associated costs for investors and entrepreneurs have not yet been disclosed.