Options for residency under Saudi Arabia's "golden visa"
The Saudi Arabian program for international investors offers two residency choices compared to previous programs;
- The first one has to do with temporary residency in exchange for a smaller investment.
- The second one takes the conventional route, where it is possible to gain permanent residency.
Financial criteria to obtain a Saudi Arabian investor visa
The golden visa program will be very enticing to people who wish to immigrate to Saudi Arabia because it is one of the richest nations in the world and because the investment requirements are much lower than in, say, certain European countries. If you intend to apply for a golden visa in Saudi Arabia, you should be aware of the following:
- Permanent residency is possible for a single sum payment of 800,000 SAR (about 213,000 USD), while the renewable residence permit costs 100,000 SAR (about 27,000 USD).
- When applying, you must be at least 21 years old;
- · the approval of the application file takes around 30 days.
- Regarding relocation by investment, this is one of the most well-established initiatives ever developed by a Middle Eastern nation.
If you wish to start a business in Saudi Arabia, you should be aware that you have the right to completely own the local firm based on your residency visa. You may rely on our regional experts to give you complete company formation, accounting, and auditing services.
Financial statements shall be prepared while taking into account the requirements of IFRSs (International Financial Reporting Standards), GAAP (Generally Accepted Accounting Principles), and any other applicable financial reporting framework. For information on our services in this regard, get in touch with our Saudi Arabian accountants.
How can I stay in Saudi Arabia permanently?
Required conditions to apply for the Premium Residency
- Present a valid passport.
- Must be at least 21 years of age.
- Submit proof of a clean criminal record with no precedents.
- Provide proof of financial solvency.
- Submit an updated health report about being free from contagious diseases.
Can a foreigner invest in Saudi Arabia?
Yes, As a general rule of law, yes an ex-pat/foreigner can buy a property or house in Saudi Arabia. But wait a minute, read till the end to unveil the hidden clauses of the rule. It is said that every foreigner or ex-pat can buy a property or house in Saudi Arabia either for business or residence purposes.
Can you get Saudi citizenship by investment?
No, it is not possible to acquire citizenship directly.