Saudi Arabia grants Premium Residency for 73 persons

General view of Riyadh, Saudi Arabia
General view of Riyadh, Saudi Arabia

Saudi Arabia's Premium Residency Center announced the first batch ofapplicants for premium residency, who met the system's conditions.

The Center said in a statement issued on Monday that the firstbatch of Premium Residency included a number of residents inside SaudiArabia and others from abroad, and their applications have been well-studiedover the past months, according to the Center's procedures.

A total of 73 persons from 19 countries received PremiumResidency in this batch, ranging from investors to doctors and thosewishing to settle with their families. Other applications are still under review.

The Center received thousands of applications through itselectronic platform from inside and outside Saudi Arabia, during thepast months, where specialized teams from the Center reviewed the applicationsand communicate with the applicants to ensure the conformity and fulfillment ofconditions, as defined by the system of Premium Residency.

Bandar bin Sulaiman Al-Ayed, CEO of the Center, said in a reportpublished by the Saudi Press Agency (SPA) that the Kingdom welcomes allresidents in Saudi Arabia and those who want to come and live on its lands,as active partners in the Saudi society, feel the stability, security andwell-being. The Premium Residency holders to live in a vibrant andprosperous society, with the freedom to invest in multiple sectors, in light ofthe rapid growth of opportunities led by the executive programs of theKingdom's ambitious vision 2030.

Al-Ayed confirmed that the process of applying for a premium residencyis available to anyone who meets the relevant conditions, through theelectronic platform "SAPRC" pointing out that the Center continues togrant premium residency to other batches of applicants once theirapplications being reviewed and the necessary conditions are confirmed.

It's noteworthy that Premium Residency includes two types ofresidence; the first one is of an indefinite period of stay in Saudi Arabia,obtained by the applicant after meeting the conditions, and paying SAR800,000for one time while the other is of one-year of stay (renewable) in SaudiArabia, obtained by the applicant after meeting the conditions and paying SAR100,000per year.

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