For The First Time, Saudi Arabia Approves Permanent Residency - Bahay OFW
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For The First Time, Saudi Arabia Approves Permanent Residency

 

If you’re a highly skilled worker or an owner of capital funds, you can now apply for a residency in Saudi Arabia. This is the first time that the kingdom will allow permanent residency after Privilege Iqama Residency Scheme was approved by the Saudi Cabinet on Tuesday, May 14, 2019.

The approval of the Saudi Green Card will give qualified expats the right to live, work and own business or property in the kingdom

It is different from existing Iqama System because Saudi sponsor or employee is not needed.

Privileged Iqama system will offer permanent residence scheme that one can be renewed annually.

Under the “Privileged Iqama” also known as Saudi Green Card, expatriates will be allowed to live and work in the Kingdom without the need of a local sponsor for the first time. This program offers a benefit to highly skilled expatriates and owners of capital funds.

The “Privileged Iqama” system will offer a permanent residence scheme and one that can be renewed annually to highly skilled expatriates and owners of capital funds. According to the report, it is different from the existing iqama system, because Saudi sponsor or employee is no longer required.

Nearly three years ago when Crown Prince Mohammed bin Salman first mentioned the new residency scheme as part of the ambitious Vision 2030 plan with the main goal of opening the kingdom and diversifying its economy. Aside from this, it said that the program will attract long-term investment and boost domestic spending.

After the discussion about the plans for the scheme, the Shoura Council approved the said proposal.

With the approval of the Saudi green card, certain expatriates are now allowed to own real estate in the kingdom and resident with their families even without a Saudi sponsor.

Saudi Arabia has been a home away from home for many Overseas Filipino workers (OFWs) and still top in the list of countries as a destination of Filipino workers. Now that Saudi Green Card is approved, are you willing to stay for good in Saudi Arabia as one of its residents?

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