• Saudi Arabia is considering expanding its premium residency program to include high-net-worth individuals, entrepreneurs, and other select groups.
• Proposed changes could open eligibility to applicants with net worths near USD 30M, pending approvals and ministry recommendations.
• The move supports economic diversification goals and intensifies competition with Dubai and Abu Dhabi for capital and talent.

Premium Residency

Saudi Arabia is reviewing plans to expand its premium residency program as it looks to attract more foreign capital and long-term residents.

According to Bloomberg, the kingdom is considering opening the program to a wider range of candidates. These may include high-net-worth individuals, owners of large yachts, high-achieving students, and a broader pool of entrepreneurs.

One proposal under review would allow individuals with net worths close to $30 million to apply. Applicants in this category would likely need a recommendation from the Ministry of Investment, reflecting a more selective screening process.

The changes have not yet been finalized. However, Bloomberg’s sources say the new rules could be announced as early as April, subject to final approvals.

High-Net-Worth Individuals

Saudi Arabia’s premium residency program currently targets limited professional groups. These include senior executives, business owners, researchers, and highly skilled specialists working in priority sectors.

The program offers benefits aimed at providing greater stability for expatriates. Holders can freely enter and exit the country, change jobs more easily, and extend residency privileges to family members.

In some cases, premium residents also receive incentives such as reduced business fees and expanded access to real estate ownership. These benefits are designed to encourage longer-term economic and personal commitments to the kingdom.

Premium residency applications currently start at around USD 1,000. However, permanent residency options can cost up to USD 200 thousand, depending on the pathway.

Foreign investment and high-skilled talent are now central to economic planning. Both are seen as critical to advancing Vision 2030 and supporting private sector growth.