Premium Residency

Premium Residency in Saudi Arabia, or Iqama Premium, is a residency system introduced to encourage foreign investment, boost the country's economy, and attract international talent. This program allows foreigners, whether professionals, entrepreneurs, or investors, to live in Saudi Arabia under certain conditions without needing a Saudi sponsor, a requirement that was previously necessary for foreign workers.

Objectives of Premium Residency

The main goal of the Premium Residency is to attract skilled human resources and foreign investors to key sectors of the Saudi economy, including industry, services, healthcare, education, and technology. By offering permanent or temporary residency, the Saudi government seeks to diversify its economy, reduce dependence on oil, and develop non-oil-related economic sectors.

Types of Residency

There are two types of Premium Residency:

1. Temporary Residency (Iqama Temporary): This allows foreigners to live in Saudi Arabia for a specific period, with the possibility of renewing their status.

2. Permanent Residency (Iqama Permanent): This offers long-term stay without a time limit, allowing residents to live, work, and invest in Saudi Arabia on a stable basis.

Benefits of Premium Residency

Premium Residency holders enjoy several benefits, such as:

- Freedom to Work: Residents can work without being tied to an employer or a Saudi sponsor, providing greater professional flexibility.

- Access to Public Services: Residents can benefit from public services such as healthcare, education, and other services offered by the state.

- Property Ownership: Holders can purchase real estate in Saudi Arabia, a privilege that was previously limited to Saudi citizens.

- Ease of Entry and Exit: They can enter and exit the country without requiring an additional visa, simplifying international travel.

- Funds Transfer: Premium residents can transfer funds and invest in various economic sectors, facilitating foreign investments.

Economic and Social Impact

The introduction of Premium Residency is part of a broader initiative under Vision 2030, an ambitious plan launched by Crown Prince Mohammed bin Salman to modernize Saudi Arabia. The program aims to diversify the Saudi economy, reduce unemployment, and attract foreign investments that could create jobs and foster economic development.

Premium Residency represents a significant opportunity for foreigners wishing to live and work in Saudi Arabia while contributing to its economic development. Through this program, the Kingdom seeks to attract talent, businesses, and investors, while offering greater freedom and benefits to expatriates. This system is part of a larger movement to transform Saudi Arabia into a global hub for economic and innovation growth.

If you wish to obtain this residence, we are here to assist you with the procedures.