Saudi Arabia’s Premium Residency program has witnessed a surge in interest, with more than 40,000 applications submitted between January 2024 and July 2025. The initiative, designed to attract global talent, high-value professionals, and investors, allows qualified individuals to live and work in the Kingdom without requiring a local sponsor.
The Premium Residency scheme forms a core element of Saudi Arabia’s Vision 2030 strategy, which seeks to diversify the economy, stimulate innovation, and enhance the Kingdom’s global competitiveness. By offering a flexible and attractive residency option, the program targets entrepreneurs, investors, exceptional professionals, and other highly skilled individuals looking for long-term opportunities in one of the fastest-growing economies in the world.
Program Growth and New Categories
Initially launched with two categories, the Premium Residency program was expanded in early 2024 to include seven distinct options:
- Exceptional Competence
- Talent
- Investor
- Entrepreneur
- Real Estate Owner
- Limited Duration Premium Residency
- Unlimited Duration Premium Residency
The expansion has widened the program’s appeal, enabling more individuals from various professional and investment backgrounds to qualify. In 2024 alone, 8,074 Premium Residency permits were issued. The largest share went to the “exceptional competence” category with 5,578 permits, followed by 348 under the “talent” category. The remaining permits were distributed among real estate owners, entrepreneurs, and investors.
Benefits of Premium Residency
Holders of the Premium Residency visa enjoy a wide range of privileges. These include the ability to obtain either permanent or time-limited residency for themselves and their families, own property across the Kingdom, and travel visa-free to multiple destinations. They are also exempt from expatriate levies, making the program financially attractive for foreign professionals and business owners.
One unique feature of the scheme is the right to acquire usufruct rights to properties in the holy cities of Mecca and Medina for up to 99 years, an option not available to regular expatriate residents. Premium Residency holders can also benefit from access to citizen-designated airport lanes, streamlining travel and improving convenience.
Driving Economic Transformation
The rise in applications reflects Saudi Arabia’s growing appeal as a global hub for business, investment, and innovation. By granting foreign residents more autonomy and economic rights, the Kingdom is positioning itself as a leading destination for skilled talent and capital inflows.
As Saudi Arabia continues to modernize its economy and expand its private sector, the Premium Residency program is expected to play an increasingly important role in attracting high-net-worth individuals, innovative entrepreneurs, and specialized professionals. The initiative aligns with the broader Vision 2030 agenda to create a thriving, diverse, and globally competitive society.
