The Kingdom of Saudi Arabia is opening its door to those who can afford to stay and live for good in the said country. Under Privilege Iqama Residency Scheme permanent residency is allowed for highly skilled workers, innovators, owners of capital funds and the like.
But how much it cost to have a Saudi ‘Green Card?
For permanent residency status, it will be SR800,000 or $213,333 while for while the one-year temporary iqama will cost SR100,000 ($26,666). This figure is according to well-informed sources published in the Saudi Gazette.
What are the benefits?
Special Privilege Iqama will provide an opportunity to all those who have ties with the Kingdom, regardless of their nationality, to obtain a permanent or temporary residency that would provide them with many privileges as well as the chance to avail of several services for themselves and their families.
It means that under the new law, expatriates who are holders of this Iqama will enjoy several privileges hitherto allowed only to the citizens.
The Council of Ministers approved on Tuesday the Special Privilege Iqama Law that provides qualified foreigners a number of residency benefits.
This includes the following;
- Own a real-estate
- Renting out of properties
- Beneficiaries of Educational and Health Services
- Other utilities specified in the Executive Regulations
It is expected that the Kingdom will grant qualified professionals with Special Privilege Iqama for their expertise in different fields.