Saudi Arabia’s Shura Council approved on Wednesday a privileged residency permit for entrepreneurs, investors, and skilled expatriates.
The project is divided into two parts: permanent residency and temporary stay, with a fixed fee that gives the owner a number of advantages, including doing business according to specific regulations.
The project grants the resident advantages, including staying with his family, obtaining a visit to relatives, bringing in workers, owning a property and means of transport, and other.
The system includes the payment of special fees to be determined by the executive regulations, including the freedom to leave Saudi Arabia and return to it without a permit, and engage in trade.
A Saudi source told Asharq Al-Awsat that the system comes in line with Saudi Crown Prince Mohammed bin Salman’s statements on the permanent residence system, or the Green Card.
The project will be presented to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz for consideration and referral, in case of approval, to the Council of Ministers.
