Saudi Arabia introduces new 5-year permanent residency without a sponsor

 

Saudi Arabia to offer permanent residency without a sponsor

In a move to attract global talent and investment, Saudi Arabia has introduced a new five-year permanent residency program that eliminates the need for a local sponsor (kafeel). The initiative aligns with the Kingdom’s Vision 2030 objectives, aiming to diversify the economy and foster innovation. This residency can be renewed once for an additional five years, subject to a nominal fee.

The program is specifically designed for highly skilled individuals, including scientists, entrepreneurs, investors, and high-income professionals with specialized expertise. It offers a variety of benefits, such as the ability to work in the private sector, start businesses, invest in real estate, and access healthcare and education services that are typically available to Saudi citizens. Residency holders will also enjoy the freedom to travel in and out of the country and sponsor family member visas.

 

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To qualify for the residency, applicants must be residing in Saudi Arabia, demonstrate financial independence, and maintain a clean record in criminal, financial, and traffic matters. Furthermore, they should contribute significantly to the country’s economic or scientific development. This new initiative underscores Saudi Arabia’s commitment to fostering a more knowledge-driven society while enhancing its economic diversification.

Source: https://cairoscene.com/