DAMMAM — The Premium Residency Center revealed that the seven premium residency products revolve around health, scientific and research competencies, investment, and entrepreneurship, and vary according to the standards and conditions for each product. The products include the Real Estate Owner Residency, Special Talent Residency, Gifted Residency, Entrepreneur Residency and Investor Residency, in addition to the Fixed-Term Residency, and Indefinite-Term Residency. These products will offer holders unparalleled opportunities for residing in Saudi Arabia. The salient features of the Premium Residency Program were highlighted in a workshop organized by the Eastern Chamber of Commerce and Industry, in cooperation with the Premium Residency Center, at the chamber's headquarters in Dammam on Sunday. The workshop reviewed the Premium Residency products for non-Saudis in the Kingdom, within the framework of national goals to enhance the Kingdom's position to be a global center that embraces the best minds, talents, and investments to empower the national economy through job creation and knowledge transfer. The Premium Residency Center unveiled the general benefits for holders of the premium residency. It grants the holder premium residency for his family members, exemption from paying expat and dependents fees, visa-free travel, and the right to own real estate and run a business without requiring a sponsor. The benefits also included easier process for the transfer of service between establishments without fees, and hosting relatives. It is noteworthy that the Premium Residence Center, which was established in January 2019, aims to attract and support distinguished groups of talents and investors to participate in the development process that Saudi Arabia is working on, by facilitating their residence and providing them with flexible patterns of living and working on its land. The center aims to develop its systems and provide various facilities to the target groups through a system of electronic benefits and services. Premium residency also provides residents with a wide range of advantages and opportunities. It allows eligible self-sponsored foreign nationals to obtain a residence permit for up to one year that can be renewable or for an unlimited period of time. People of all nationalities can apply for the new premium residency products provided that they meet all eligibility criteria and requirements.
