Saudi Arabia introduces new visas to entice businesspeople and investors.


To enhance its global standing and attract skilled professionals and investments, Saudi Arabia has unveiled five innovative visa types, collectively termed ‘Premium Residency products.’ The initiative, aligned with Saudi Vision 2030, aims to propel the Kingdom’s economic transformation by creating employment opportunities and fostering knowledge transfer.

New Visa Categories Unveiled

  1. Special Talent Residency:
    • Targeting executives and professionals specializing in healthcare, science, and research.
    • Aims to attract individuals with unique skills to contribute to knowledge and technology transfer.
  2. Gifted Residency:
    • Geared towards integrating skilled professionals and talented individuals into Saudi Arabia’s cultural and sports sectors.
  3. Investor Residency:
    • Designed for investors seeking opportunities in Saudi Arabia’s flourishing business landscape.
    • Aims to generate high-impact returns across the economy.
  4. Entrepreneur Residency:
    • Tailored for aspiring entrepreneurs and owners of innovative projects eager to launch and develop startups in Saudi Arabia.
  5. Real Estate Owner Residency:
    • Targeting individuals who own real estate, offering a chance to enjoy the Kingdom’s quality of life while benefiting from its promising real estate market.

Benefits for Visa Holders

  • Holders of Premium Residency products enjoy various advantages, including the ability to conduct business, own real estate, and obtain work permits for themselves and their family members.
  • The initiative underscores openness to individuals capable of adding value to the national economy and actively participating in Saudi Arabia’s ambitious development journey.

Key Stakeholder Insights

Dr. Majid bin Abdullah Alkassabi, Chairman of the Premium Residency Centre, emphasized that the new visas are pivotal for Saudi Arabia’s trajectory towards a knowledge-based, diversified economy. While specific details regarding visa duration and associated costs are yet to be disclosed, the Premium Residency Centre collaborated with strategic partners across government entities to develop these innovative visa products.

The move signals Saudi Arabia’s commitment to becoming a global hub, offering unparalleled opportunities for skilled professionals, investors, and entrepreneurs keen on contributing to the Kingdom’s rapid development.

 

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