- Saudi Arabia's government published the fees foreigners must pay to obtain renewable and permanent residency in the country
- The renewable Premium Residency costs 100,000 Saudi Riyals (about ₦44.6m) per year, while the permanent option carries a one-time fee
- The Saudi Premium Residency scheme offers foreigners two distinct pathways to legal long-term stay in the kingdom
Saudi Arabia has published the official cost for foreigners seeking long-term residency in the kingdom, setting out fees for both a renewable annual option and a permanent stay arrangement.
The details appear on the Saudi Premium Residency portal, which outlines two main pathways available to foreign nationals looking to settle in the country legally.
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Saudi Arabia Premium Residency: What each option costs
Under the renewable option, foreigners pay 100,000 Saudi Riyals (about ₦44.6m) per year to maintain their Premium Residency status.
This fee is charged annually, meaning holders must continue paying to keep their residency active.
The permanent option, described as a Premium Residency with no specified duration, carries a one-time fee of 800,000 Saudi Riyals (about ₦357m).
This route allows a foreign national to live in Saudi Arabia indefinitely without the obligation of annual renewal payments.
What the Saudi Premium Residency covers
The Saudi Premium Residency scheme is designed to attract high-net-worth individuals and skilled foreign nationals by offering benefits that go beyond what a standard work or visit visa provides.
Holders gain the right to reside in Saudi Arabia without being tied to a single employer, which is a significant departure from the traditional kafala sponsorship system that has long governed migrant workers in the Gulf region.
Saudi authorities have positioned the scheme as part of the country's broader Vision 2030 economic diversification drive, which aims to attract foreign talent and investment into the kingdom.
For Nigerians and other Africans considering the option, the permanent fee of 800,000 Saudi Riyals (about ₦357m) represents a substantial upfront commitment.
In comparison, the annual fee of 100,000 Saudi Riyals (about ₦44.6m) offers a lower entry point but accumulates over time.
Legit.ng reported that Saudi Arabia had set one key requirement for foreigners seeking its premium residence permit.
In a related story, Legit.ng reported that Saudi Arabia had listed three groups of foreigners eligible for its gifted residence permit.
Cost of Saudi Gifted Residency
Meanwhile, Legit.ng previously reported that Saudi Arabia had published the cost of getting its Gifted Residence permit.
The Gifted Residency product is designed to bring in talent from the sports, cultural, and artistic sectors.
The government described the initiative as a way to integrate skilled foreigners into Saudi Arabia's cultural and professional landscape, with the goal of facilitating knowledge exchange and drawing creatives into the country's ongoing development drive.
Source: Legit.ng