Investor’s residence permit in Saudi Arabia
An investor’s residence permit in Saudi Arabia is available when purchasing a residential property. To obtain this status, the following conditions must be met:
- Ownership or usufruct of real estate worth at least SAR 4 million (USD 1.07 million). Usufruct is a temporary right to use and derive income from property owned by another person, without the right to sell or alter it;
- No existing or future mortgage;
- The property must be residential, not commercial, industrial, or agricultural;
- The building must be constructed and not just a plot of land;
- A valuation report issued by an expert accredited by Taqeem, the Saudi Authority for Accredited Valuers.
The duration of premium residency depends on the period of ownership or usufruct. If the owner decides to sell the property, they can replace it with another property of no less than the minimum value within 90 days. A grace period of 90 days is also granted to extend the usufruct or acquire a new property, which must be of equivalent or higher value. A permanent resident card in Saudi Arabia is not granted under this type of residency.
Requirements for obtaining a residence permit in Saudi Arabia
To obtain premium residency in Saudi Arabia, you must meet the following requirements:
- Be over 21 years of age;
- Provide passports that are valid for at least 180 days from the date of application;
- Have no criminal record;
- Provide documentary proof of financial stability;
- Obtain a medical certificate confirming the absence of infectious diseases;
- Confirm legal residency in the country when applying within the Kingdom;
- Arrange medical insurance and pay the fees within 30 days of application approval.
Types of a residence permit in Saudi Arabia
Visa duration
A temporary visa lasting from 1 to 5 years. Renewal of a residence permit in Saudi Arabia is possible for SAR 100,000 (USD 26,500) per year.
Permanent residency for an investment of SAR 800,000 (USD 213,000). Investors are immediately granted an unlimited residence permit.
Real estate owner residency
Foreigners can purchase a residential property that meets all the criteria. The cost of a residence permit in Saudi Arabia for purchasing property starts at SAR 4 million (USD 1.07 million).
Entrepreneur residency
Businesspersons must obtain a licence, and accredited organisations must transfer investments of SAR 400,000 (USD 106,500) or SAR 15 million (USD 4 million), depending on the visa category.
Investor residency
An investor’s residence certificate in Saudi Arabia is available for a minimum investment of SAR 7 million (USD 1.86 million) in various sectors of the economy. Additionally, at least 10 jobs must be created.
Special talent residency
Exceptional scientific and medical professionals, researchers, and executives can apply for premium residency. Requirements may include providing an employment contract specifying a minimum required salary, recommendation letters from employers, an advanced degree, and proof of work experience.
Gifted residency
This visa is offered to sports, cultural, and artistic talents who meet the selection criteria.
Documents to obtain a residence permit in Saudi Arabia
To apply for a residence permit in Saudi Arabia for investment in property, buyers must provide:
- Passport;
- Educational certificate;
- Ownership documents;
- Property valuation report issued by an accredited Taqeem valuer;
- Bank statements for the last 12 months;
- Personal SIMAH credit report, dated no more than 3 months before the application;
- Documents of family members.
