- Saudi Arabia's government announced the requirements for its premium residency scheme, which covers both limited and unlimited settlement options
- The programme targets foreigners who want to live in Saudi Arabia and take advantage of its economic and social opportunities
- It is worth noting that only one eligibility condition was listed for applicants seeking premium residency in the kingdom
Saudi Arabia has announced that proof of financial solvency is the sole eligibility requirement foreigners must meet to qualify for the country's premium residency programme, which is available in both fixed-term and indefinite options.
The announcement came from the Saudi Arabian government, which published the details of its Premium Unlimited and Fixed-Term Residency scheme on its official residency platform.
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What Saudi Arabia's premium residency offers
The programme is designed for people who wish to settle in Saudi Arabia, either permanently or for a defined period. According to the government, the kingdom's civilisational, social, demographic, economic, and geographical strengths make it an attractive destination for those seeking a stable and opportunity-rich environment.
The premium residency scheme promises a "suitable environment" with a range of benefits for approved residents.
The government did not specify in the published details what those benefits include beyond the promise of a welcoming atmosphere for foreign settlers.
Saudi Arabia's premium residency: The one condition applicants must meet
Applicants must provide documentation showing they are financially solvent. No additional eligibility criteria were listed at the time of publication.
The government noted that all terms are subject to change, meaning applicants should check the official residency portal regularly for updates before proceeding with any application.
Saudi Arabia has increasingly positioned itself as a destination for skilled and wealthy foreign nationals as part of its broader Vision 2030 economic diversification agenda, which aims to reduce the country's dependence on oil revenues.
In a related story, Legit.ng reported that Saudi Arabia had shared its full salary scale for foreign health workers.
Saudi Arabia lists jobs foreigners can, cannot apply for
Meanwhile, Legit.ng previously reported that Saudi Arabia had shared the jobs that foreigners can and cannot apply for.
The rules make clear that not every government job is open to non-Saudi workers. Military roles are completely off limits to foreign nationals.
This covers positions in the Armed Forces, Public Security, National Guard, and Border Guard.
Source: Legit.ng