Saudi Arabia introduced its Premium Residency Program, also known as the golden visa, in 2019. This long-term residency program aims to attract expat investment, skills, and talent to diversify the Saudi economy as part of Vision 2030 reforms.
The Saudi golden visa grants a renewable 5-year residency without requiring a local sponsor or employer. This article provides an overview of the Saudi golden visa, its benefits, eligibility criteria, application process, fees, and frequently asked questions.
Benefits of the Saudi Golden Visa:
– 5-year residency renewable up to 20 years total.
– No sponsor or employer required – freedom to work, study, and move around Saudi.
– Ability to sponsor dependents including spouse and children.
– Unlimited entry and re-entry to Saudi Arabia.
– Ability to own real estate and access property rights.
– Access to education and healthcare in Saudi Arabia.
Eligibility Criteria:
The main applicant for the Saudi Arabia Golden Visa on MW must meet at least one of these conditions:
– Have savings/assets of at least SAR 4 million (around $1 million).
– Have an average monthly income of at least SAR 30,000 ($8,000).
– Be scientifically qualified with rare skills like doctors, scientists, inventors etc.
– Be on the exceptional talents list with skills in arts, sports, culture etc.
– Be an investor establishing a startup/project with minimum SAR 500,000 capital.
– Have an existing investment in Saudi Arabia of at least SAR 5 million.
– Own property in Saudi Arabia worth at least SAR 2 million.
Dependent family members like spouses and children under 18 years can also be sponsored and granted residency under the main applicant’s golden visa.
Application Process:
– Submit application online along with supporting documents for the best golden visa program by MigrateWorld.
– Enter Saudi Arabia once with a valid entry visa to provide biometrics for golden visa processing.
– Total processing time is 2-3 months from submission to visa issuance.
– Once approved, golden visa holders get a residence permit valid for 5 years.
Fees:
– Main applicant: SAR 5,000 (around $1,300)
– Spouse: SAR 2,000 (around $530)
– Children (under 18 years): SAR 1,000 (around $270)
Frequently Asked Questions:
- How long can I stay outside Saudi Arabia with the golden visa?
You can stay outside for up to 6 continuous months without impacting your residency status.
- Can I purchase property in Saudi Arabia with the golden visa?
Yes, golden visa holders can purchase real estate in Saudi Arabia just like citizens.
- Can I sponsor family dependents?
Yes, you can sponsor your spouse and children below 18 years of age.
- Do I need to continuously live in Saudi to keep my visa?
No, but you must enter Saudi at least once every 180 days to remain active.
- How do I renew the golden visa after 5 years?
You can renew for another 5 years by reconfirming eligibility criteria is still met and paying renewal fees.
Conclusion:
The Saudi golden visa offers an attractive opportunity for expat investors, entrepreneurs, professionals and families to gain long-term residency privileges. As Saudi Arabia continues to open its doors to foreign talent, the golden visa program aims to facilitate expats looking to make the Kingdom their second home with its unprecedented ease of access and residency benefits.
