Saudi Arabia issued 8,074 “Premium Residency” permits in 2024 to eligible applicants across various categories.
The permits were granted to residents inside the country and to foreign nationals.
This move supports the Kingdom’s goal of strengthening its position as a global hub for talent and investment.
The initiative is part of broader efforts to boost the economy, create jobs, and transfer knowledge to the local workforce.
It also aims to facilitate the exchange of expertise across key sectors.
According to the National Transformation Program under Vision 2030, 5,578 permits were issued to the “Competence” category.
Another 348 permits went to the “Talent” category, and 2,148 to other classifications.
The Premium Residency Center reviewed and processed all applications to ensure compliance.
Launched in 2019, the Premium Residency program attracts exceptional global talent to Saudi Arabia.
It seeks to enrich local human capital, raise competitiveness, and stimulate domestic market growth.
Permit holders enjoy several benefits.
These include residence with family, exemption from expatriate fees, property ownership rights, and permission to engage in business activities.
They also have the freedom to travel without requiring entry or exit visas.
These benefits are provided in collaboration with various government entities.
Saudi Arabia began accepting Premium Residency applications in mid-2019.
The program offers two options: a permanent residency for 800,000 SAR ($213,000) and a one-year renewable residency for 100,000 SAR ($26,000).
In November 2019, the first batch of 73 applicants, representing 19 nationalities, received their permits.
They included investors, doctors, and individuals wishing to settle with their families.
In early 2024, Saudi Arabia expanded the program to include five new categories.
These are Exceptional Talent, Talent, Business Investor, Entrepreneur, and Property Owner.
They were added alongside the previously available one-year renewable and indefinite residency options.
