Saudi Premium Residency - Entrepreneur

Published 1 week ago
Last updated 1 week ago

Entrepreneur Residency

This product is designed for entrepreneurs and innovators looking to develop sectors in Saudi.

As Saudi advances in key global competitiveness and small investor protection indices, it aims to become a top destination for entrepreneurs and SME owners. The product focuses on supporting the stability of entrepreneurs and providing them with an inspiring and nurturing incubator environment.

General Benefits

  1. Reside in Saudi with family members, including parents, spouses, and children under 25.
  2. Flexibility to move from one establishment to another.
  3. Exemption from the fees imposed on expats and their dependents and companions.
  4. Exit and return to Saudi for the premium residency holder and their family members without requiring a visa.
  5. The entitlement to obtain visit visas for relatives.
  6. Use tracks dedicated to citizens at airports.
  7. The entitlement to work in the private sector and move between establishments applies to the husband, wife, and dependents, including the daughters' and sons' dependents.
  8. Conducting business under the guidelines of The Investment Law.
  9. Own and Usufruct real estate.

Special Benefits

  • Nominate two staff members to obtain the “Special Talent” Residency and to be exempted from its criteria (e.g., Executives).
  • The entity exemption from “Nitaqat” for the first 3 operational years.
  • 2nd category: Directly obtain permanent residency.


Eligibility Criteria

A- First Category

  • Holding an entrepreneur license from the Ministry of Investment.
  • Obtain a minimum of 400,000 SAR round/s as investment from an entity accredited by the Center.
  • Recommendation letter from the investment entity.
  • The applicant's share in the company is not less than 20%.

B- Second Category

  • Holding an entrepreneur license from the Ministry of Investment.
  • Obtain a minimum of 15 Million SAR round/s as investment from an entity accredited by the Center.
  • Recommendation letter from the investment entity.
  • The applicant's share in the start-up is not less than 10%.
  • Create at least 10 jobs during the first year and at least 10 additional jobs during the second year.

All requirements are subject to change

Residency Duration

  • 1st Category: A fixed-term residency for five years, renewable for one term upon continued adherence to eligibility standards of the 1st group, and a residency for 30 months in 5 years.
  • 2nd Category: Permanent residency directly, conditioned on creating at least 10 jobs in the first year and at least 10 jobs in the second year.

 

Onetime fee:

4,000 SAR