The Premium Residency
, informally known as Saudi Green Card, is a residence permit
in Saudi Arabia
grants expatriates the right to live, work and own business and property in the Kingdom without need for a sponsor.
The new scheme aims to attract highly skilled and wealthy foreign nationals as well as investors and entrepreneurs.
The introduction of the Premium Residency comes as a part of Saudi Arabia's Vision 2030
reform plan, which was announced by Crown Prince Mohammed bin Salman
to boost the Saudi economy
The permanent residency is granted for $213,000 while the one-year renewable residency costs $26,660.