Saudi Arabia Golden Visa: We tell you about the premium residence permit

Saudi Arabia, driven by the ambitious goals of Vision 2030, is opening its doors to global talent and capital through the Premium Residency Program, widely known as the "Golden Visa." This innovative status offers unique opportunities for long-term residence and business operations in the dynamically developing Kingdom, bypassing traditional restrictions. Discover if this path suits you.

What is Saudi Arabia's "Golden Visa" (Premium Residency Program)

The Premium Residency Program is a government initiative granting qualified foreigners the right to long-term or permanent residence in Saudi Arabia without requiring sponsorship (kafala) from an employer or local citizen. This is not just a visa, but a full-fledged residency status, providing its holder (Premium Residency Holder, PRH) with significant operational freedom unavailable under ordinary residence permits (iqama). It is the key to living, working, and investing in KSA under exceptionally favorable conditions.

Program Types: Permanent and Temporary

The program offers two main types of Saudi premium residency tailored to different needs:

Permanent Premium Residency

The most prestigious status, equivalent to permanent residency. Issued indefinitely without renewal requirements and provides maximum privileges. Primary acquisition path: significant investments in the Kingdom's economy.

Temporary Premium Residency

Status issued for one year with annual renewal options if conditions are met. Available under broader grounds: smaller investments, verified high income, or possessing in-demand professional skills. Provides most key benefits of the permanent program but on a renewable basis.

Acquisition Conditions: Investments, Income Sources, Documents

Requirements depend on the selected type of Saudi golden visa.

For permanent premium residency:

• Investments: Primary path – non-refundable donation of 1,000,000 SAR (~$266,600) to the National Development Initiatives Fund (NDIF) or investments of at least 7,000,000 SAR (~$1.87M) in commercial real estate, securities, or businesses within KSA. Investments must be verified and meet criteria.
• Documents: Valid passport (>6 months), investment proof (contracts, statements), police clearance, KSA medical insurance, completed application form, photos. All documents require apostille and professional Arabic translation.

For temporary premium residency:

• Investments: Minimum 2,000,000 SAR (~$533,300) in KSA commercial real estate, securities, or businesses.
• Monthly income: Verified permanent income ≥40,000 SAR (~$10,665) monthly from sources outside KSA or domestically (post-tax).
• Professional qualification: Possession of in-demand profession (approved list) and valid employment contract/job offer in KSA with salary ≥30,000 SAR/month (doctors: ≥35,000 SAR).
• Documents: Similar to permanent, plus supporting documents for chosen basis (income/tax statements, employment contract, diplomas/certificates).

Processing Time and Cost

Official processing time for complete documentation: ≤30 calendar days. Actual duration may vary. Early application recommended.

Cost

• Processing fee: 4,000 SAR (~$1,065) for both types (non-refundable, even if rejected).

Residency fee:

• Permanent: 800,000 SAR (~$213,300) one-time payment.
• Temporary: 100,000 SAR (~$26,665) annually upon renewal.
• Additional expenses: Apostille, document translation, medical insurance, possible legal services.

Advantages: No sponsor, free movement, business/property ownership

Holders of Saudi premium residency gain unique privileges:

• Sponsor (kafala) independence: Most significant advantage. Resident isn’t tied to a specific employer or KSA citizen, manages status independently.
• Freedom of movement: Multiple entries/exits from Saudi Arabia without separate exit/re-entry visas (after initial status approval).
• Business ownership rights: Ability to establish and fully own companies in permitted foreign sectors without mandatory Saudi partner.
• Property ownership rights: Right to purchase and own residential/commercial property per current regulations.
• Family sponsorship: Right to sponsor spouse, minor children, and sometimes parents.
• Infrastructure access: Healthcare in private facilities, private education, bank accounts, housing rental with citizen-equivalent rights.
• Employment flexibility: Work for multiple employers without residency status change (if professional requirements met).

Differences from Work Visas and Ordinary Residency

Saudi Arabia's Golden Visa fundamentally differs from traditional schemes.

Sponsor (kafala) requirement:

• Work visa/iqama: Mandatory (employer or KSA citizen).
• Premium residency: Complete absence.

Employer binding:

• Work visa/iqama: Strictly tied to one employer. Job change requires visa reissuance.
• Premium residency: Full independence. Can work for multiple employers.

Exit/entry to country:

• Work visa/iqama: Requires separate exit/re-entry visas dependent on sponsor.
• Premium residency: Unlimited multiple entries/exits (after initial status approval).

Business ownership:

• Work visa/iqama: Heavily restricted, usually requires Saudi partner (sponsor) with 25-51% share depending on sector.
• Premium residency: 100% business ownership rights in permitted foreign sectors.

Property ownership:

• Work visa/iqama: Limited to special economic zones or specific property types with permits.
• Premium residency: Property ownership rights per general resident regulations.

Status renewal:

• Work visa/iqama: Depends on employer and active employment contract.
• Premium residency: Permanent – no renewal. Temporary – renewed annually if criteria met (investments/income).

Cost to resident:

• Work visa/iqama: Main costs typically covered by employer.
• Premium residency: High one-time (permanent) or annual (temporary) fees paid by resident.

Target Audience: Businesspeople, Investors, Qualified Professionals

Saudi Arabia's Golden Visa program ideally suits:

• Entrepreneurs and businesspeople: Those seeking to establish/expand KSA businesses with 100% ownership freedom and no sponsor tethering to leverage Saudi market potential.
• Investors: Individuals pursuing residency through KSA investments wanting to deploy capital in real estate, securities, or a high-growth economy in exchange for stable residency and market access.
• Highly-skilled specialists: In-demand professionals (IT, engineering, finance, medicine, science) aiming to work in KSA under favorable conditions with employer flexibility and long-term family residency.
• Wealthy rentiers: Individuals with high verified passive income desiring Saudi residence with premium status benefits and stability.

Potential Challenges and Advice

Obtaining and maintaining residency in Riyadh and KSA under this program has nuances requiring careful consideration. Significant financial costs are a primary challenge. Status fees, especially for permanent residency, and annual temporary residency payments are substantial. Additionally, verifying investments/income requires considerable liquid assets. Thoroughly evaluate financial capacity and long-term goals while calculating potential ROI in advance.

Comprehensive document preparation is another critical aspect. Apostille and translation processes are labor-intensive, costly, and demand absolute precision – any error may cause rejection. Mitigate risks by starting preparations early and using trusted agencies/lawyers specializing in Saudi premium residency.

Note that the program is relatively new; authorities periodically refine details/requirements. Regularly consult updated information on the official Premium Residency Program website.

Proving fund sources requires special attention. Applicants must provide complete transparent documentation tracing investment funds/income origin. Ensure full paper trail and prepare for possible additional authority requests.

For temporary residency via professional qualification: Option availability depends on the current approved list of scarce specialties. Always verify if your profession is on the latest in-demand list before applying.

Saudi Arabia's Golden Visa program is a strategic tool for those envisioning their future in the dynamically developing Kingdom. Despite high entry barriers and bureaucratic complexity, it delivers unprecedented freedom, stability, and opportunities for business, investment, and life – making Riyadh and other KSA cities accessible realities for global investors and professionals.