RIYADH (Daily Point) — Saudi Arabia has recently unveiled five additional visa categories under its “premium residency products” initiative, designed to attract skilled professionals and investors, in line with the country’s economic transformation goals and its ambition to enhance global business prominence.
The newly introduced visa categories comprise special talent, gifted, investor, entrepreneur, and real estate owner residencies. These visas offer a range of benefits, including the ability to conduct business, own real estate, obtain work permits, and more, thereby contributing to the objectives outlined in the Vision 2030 agenda for economic diversification.
The special talent residency specifically targets executives and professionals in fields such as healthcare, science, and research, emphasizing the importance of unique skills to foster knowledge and technology transfer.
The investor residency is tailored for individuals seeking opportunities in Saudi Arabia’s thriving business landscape, aligning with the nation’s efforts to attract and retain valuable investment.
The entrepreneur residency is designed to support aspiring entrepreneurs and owners of innovative projects, facilitating the establishment of startups within the kingdom.
The real estate owner visa is aimed at individuals interested in benefiting from the rapidly growing real estate market in Saudi Arabia, offering them a platform to participate in its development.
Majid bin Alkassabi, Chairman of Saudi Arabia’s Premium Residency Centre, emphasized the numerous benefits associated with these visas, including work permits, real estate ownership, and other advantages, although specific details on the duration and costs were not provided.
This initiative is in line with Saudi Arabia’s Vision 2030, focusing on economic diversification, job creation, and knowledge exchange. The country has actively promoted public-private partnerships, industry free zones, and tax incentives to attract talent and investors, contributing to its non-oil economy goals.
The introduction of these new visa products underscores Saudi Arabia’s commitment to establishing itself as a global business hub, encouraging individuals capable of contributing to the national economy to actively engage in the kingdom’s development journey. The initiative is poised to strengthen Saudi Arabia’s position as an attractive destination for professionals and investors, fostering economic growth and diversification.
