Saudi Arabia liberalizing visa regime to welcome foreign talent
Saudi Arabia has introduced five new visa categories with
the aim of attracting skilled professionals and investors, aligning with the
nation's economic diversification objectives.
Termed as "premium residency products," these
visas are geared towards supporting economic transformation, fostering
employment opportunities, and facilitating knowledge transfer.
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Arabia aims to attract 4 million Chinese tourists by 2030
According to Majid bin Alkassabi, the chairman of Saudi
Arabia’s Premium Residency Centre, the special talent, gifted, investor,
entrepreneur, and real estate owner residency visas present unparalleled
opportunities for individuals to establish themselves in Saudi Arabia.
The special talent residency is tailored for executives and
professionals specializing in healthcare, science, and research, with a focus
on attracting those possessing unique skills and experiences contributing to
knowledge and technology transfers. It seeks to integrate skilled professionals
and talented individuals into Saudi Arabia’s cultural and sports sectors. The
investor residency targets individuals aiming to capitalize on Saudi Arabia's
thriving business landscape and generate high-impact returns across the
economy.
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Arabia to witness job creation many years beyond 2030
The entrepreneur residency is designed for aspiring
entrepreneurs and owners of innovative projects seeking to establish startups
within the kingdom. Meanwhile, the real estate owners visa is crafted for
individuals looking to benefit from Saudi Arabia's rapidly growing real estate
market. Although specific details such as the duration and cost of these visas
were not disclosed, Alkassabi emphasized that the visas offer a wide range of
benefits, including the ability to conduct business, own real estate, obtain
work permits for holders and family members, and other advantages.
As Saudi Arabia endeavors to reduce its dependence on
hydrocarbon sales and diversify its economy away from oil, the expansion of its
industrial base, job creation, knowledge exchange, and increased foreign direct
investment form key components of its Vision 2030 agenda. The introduction of
these new visa categories aligns with the broader initiatives aimed at
attracting talent, fostering innovation, and boosting economic output,
reinforcing the kingdom's position as a global business hub.
Source: https://www.thenationalnews.com/
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