2024-01-10T11:04:16+00:00
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/ On Wednesday, Saudi Arabia announced the launch of 5 new categories of premium residency, in a move aimed at attracting more talents and investors, and empowering the national economy through job creation and knowledge transfer, according to what the Premium Residency Center announced, and reported by the Saudi Press Agency. Wass.”
The Chairman of the Board of Directors of the Distinguished Residency Center, Majid bin Abdullah Al-Qasabi, said that the five new categories of Distinguished Residency are: Residency for exceptional competence, Residency for talent, Residence for business investor, Residence for entrepreneur, and Residence for real estate owner.
Al-Qasabi said: “This step constitutes a practical expression of the Kingdom’s future trends towards a diversified economy based on knowledge and investment in new sectors.
He added, “The five premium residency products will provide their holders with the opportunity to settle and work in the Kingdom, and open doors for everyone who adds value to the national economy, to be partners in contributing to the Kingdom’s Vision 2030.”
According to the statement, the “Exceptional Competence” residency was designed to grant all administrative, health, scientific, and research competencies, who have specific skills or experience, or senior executives who contribute to transferring knowledge to national cadres, while the “Mawhiba” residency was designed for talents and specialists in the cultural and sports fields, to be Part of the cultural and sports movement and continuous development, while the “Business Investor” residency is designed for investors wishing to invest in the various economic sectors in the Kingdom.
The “Entrepreneur” residency is granted to entrepreneurs and owners of pioneering projects with innovative and creative ideas who wish to launch their businesses or develop their emerging companies in the Kingdom, while the “Property Owner” residency is allocated to property owners who wish to obtain distinguished residency and stability in the Kingdom.
The new residencies allow their holders to engage in business, own and benefit from real estate, obtain a work permit for the holder as well as his family members, host and invite relatives, be exempt from financial fees for companions, bring in domestic workers, own means of transportation like citizens, and move to and from the Kingdom without a visa. .