Saudi Arabia's Premium Residency: Is It Worth $2,400/Year?

Saudi Arabia has been making significant changes to its residency and immigration policies in recent years. One of the most notable reforms is the introduction of the Premium Residency program, also known as the Saudi Green Card. This initiative aims to attract skilled professionals, entrepreneurs, and investors by offering them a chance to live and work in the Kingdom without needing a traditional sponsor.

For an annual fee of SAR 9,500 ($2,400) or a one-time payment of SAR 800,000 ($213,000) for permanent residency, expatriates can enjoy numerous benefits that are otherwise unavailable to regular residents. But is the Premium Residency worth it? Let’s take a closer look at what it offers, its costs, and whether it’s a worthwhile investment.

What Is Saudi Arabia’s Premium Residency?

The Premium Residency Program (PRP) was launched in 2019 as part of Saudi Arabia’s Vision 2030—a strategic plan to diversify the economy and attract foreign investment. It provides expatriates with privileges similar to those of Saudi citizens, such as property ownership and business opportunities, without requiring them to have a Saudi sponsor (kafeel).

There are two main types of Premium Residency:

1. Unlimited Residency (Lifetime Option) – One-time fee of SAR 800,000 ($213,000).
2. Renewable Residency (Annual Option) – Yearly fee of SAR 9,500 ($2,400).

Both options grant expats freedom to live, work, and do business in Saudi Arabia with fewer restrictions compared to traditional work visas.

Benefits of Premium Residency

Holding a Saudi Premium Residency provides several key benefits, making it attractive for high-net-worth individuals, entrepreneurs, and skilled professionals:

1. No Sponsorship Requirement

Unlike regular expatriates who need a Saudi sponsor (kafeel) for employment or residency, Premium Residency holders have complete independence. They can work in any private-sector job, start their own business, or switch jobs freely without needing employer approval.

2. Property Ownership Rights

While regular expats are restricted from owning real estate in most parts of Saudi Arabia, Premium Residency holders can buy property anywhere except in the two holy cities of Mecca and Medina. This opens up investment opportunities in booming real estate markets like Riyadh, Jeddah, and NEOM.

3. Business Opportunities

Premium Residency holders can own and manage businesses without the need for a Saudi partner. This is a game-changer for foreign entrepreneurs who previously had to operate through local sponsors.

4. Residency for Family Members

Unlike traditional work visas that tie dependents' residency to the primary visa holder’s employer, Premium Residency allows family members (spouse, children, and parents) to stay in Saudi Arabia independently.

5. Ease of Travel

Premium Residency holders can enter and exit Saudi Arabia freely without needing an exit/re-entry visa, which is a major convenience compared to regular expatriates.

6. Access to Public Services

Although not fully equal to Saudi citizens, Premium Residency holders have better access to public health and education services than standard work visa holders.

7. Ability to Sponsor Domestic Workers

Holders can sponsor domestic workers such as housemaids, drivers, and nannies without requiring employer sponsorship.

Is the Cost Justified?

While $2,400 per year (SAR 9,500) may seem like a steep price for some, it is relatively affordable compared to golden visas or investment-based residency programs in countries like the UAE, Portugal, or the U.S.

Here’s how it compares to other residency programs:

Saudi Arabia’s Premium Residency offers strong economic and business incentives for a much lower cost compared to the UAE’s Golden Visa or Portugal’s Golden Visa. However, it does not provide a pathway to citizenship, which may be a drawback for some applicants.

Who Should Consider Saudi Arabia’s Premium Residency?

1. Business Owners & Investors

Entrepreneurs looking to expand into Saudi Arabia—the largest economy in the Middle East—will find the Premium Residency program highly beneficial. It allows full business ownership, which was previously restricted to Saudis.

2. Skilled Professionals & Executives

Doctors, engineers, and high-earning professionals who want job flexibility without being tied to a single employer will benefit greatly. They can freely switch jobs without employer sponsorship.

3. Frequent Travelers

If you often travel in and out of Saudi Arabia for business, the elimination of exit/re-entry visa requirements will save both time and hassle.

4. Real Estate Investors

For those interested in investing in Saudi real estate, the Premium Residency allows them to own property, making it an attractive option, especially with major developments like NEOM and the Red Sea Project.

Potential Drawbacks

While the benefits are significant, the program does have some limitations:

• No Citizenship Pathway – Unlike some Golden Visa programs, Saudi Premium Residency does not lead to permanent citizenship or a Saudi passport.
• Annual Renewal Costs – The $2,400 annual fee may be a burden for some applicants.
• Limited Public Benefits – While Premium Residents have more rights than regular expats, they still do not have full access to Saudi’s public healthcare and pension systems.

Final Verdict: Is It Worth It?

The Saudi Premium Residency is an excellent option for business owners, high-income professionals, and investors who want greater freedom and investment opportunities in Saudi Arabia. It is also one of the most affordable residency programs in the Gulf region, making it accessible to a larger number of expatriates.

However, for those looking for a direct path to citizenship or permanent residency, it may not be the best choice. Ultimately, whether it is worth the $2,400 per year depends on your financial situation, career goals, and long-term plans in Saudi Arabia.

Disclaimer:

This article is for informational purposes only and does not constitute financial, legal, or immigration advice. The Saudi Premium Residency program is subject to changes in policy and regulation. Readers should consult with a licensed immigration consultant or financial advisor before making any decisions.