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73 applicants granted Saudi Arabia's Premium Residency The Premium Residency Center has started processing thousands of applications from investors, doctors, engineers and others
Saudi Arabia's Premium Residency Center (SAPRC) has granted Premium Residency to 73 people in the Kingdom — the first batch of applicants who met the criteria. The center said that the first batch granted Premium Residency consists of applicants who are already residing in Saudi Arabia and applicants from abroad. The center added that the 73 granted Premium Residency are from 19 nationalities. They represent a wide spectrum of professions including investors, doctors, engineers or financiers who want to enjoy living in Saudi Arabia with their families. The center said that it has received thousands of applications through its online portal from within and outside the Kingdom in the past few months. These applications are handled by a specialized team to analyze and communicate with the applicants to ensure a smooth application process in accordance with the Premium Residency regulations. The center also said that the Kingdom welcomes everyone — whether already residing in the Kingdom or based abroad — as the Premium Residency is open for anyone who meets SAPRC requirements. Premium Residency Center CEO Bandar Al Ayed, said: "The Kingdom welcomes everyone. Applying for a Premium Residency is available to anyone who meets the relevant conditions, whether they are residing in the Kingdom or those wishing to come and settle here." "Our country today is one of the most important destinations, whether for working or investing, or even for residing, in light of many advantages including the strategic location of the Kingdom, rich history and diversity, advanced infrastructure and most importantly, its security and stability. "For example, when an investor comes to the Kingdom, he/she comes to a country with great economic and investment potential, and major projects led by Vision 2030, which ensures that the Kingdom will be a fertile ground for minds, talent, venture capital, and is a land of innovation and futuristic industries. "Since the first day the Premium Residency Center announced its online portal for applications, the specialized team in the center has received thousands of applications that have entered the phases of analyzing and processing," he added. There are two types of residency: Permanent Premium Residency with a one-time fee of SR800,000 ($ 213,301), and an annual renewable Premium Residency with an annual fee of SR100,000, he said. Both types of Premium Residency offer many advantages, besides enjoying living in Saudi Arabia, such as ease of obtaining business license, ownership of real estates and private vehicles, and usufruct rights on real estates in the holy cities of Makkah and Madinah. Moreover, Premium residents will be able to work in the private sector and move freely from entity to entity except for professions and jobs that are restricted to Saudi nationals. Furthermore, Premium Residency holders will be able to self-issue exit and entry visas, and obtain visit visas for relatives. On June 23, the center began receiving and processing the applications through the online portal. The Premium Residency Law was issued this year by a Royal Decree approved by the Council of Ministers, headed by the Custodian of the Two Holy Mosques King Salman. — SG
