This product is designed for entrepreneurs and innovators looking to develop sectors in Saudi Arabia.
As Saudi Arabia improves its ranking in global competitiveness and small investor protection indices, it aims to become a preferred destination for entrepreneurs and SME owners. The product focuses on supporting the stability of entrepreneurs and providing them with an inspiring and nurturing incubator environment.
General Advantages
- Reside in Saudi Arabia with family members, including parents, spouses and children under 25 years of age.
- Flexibility to move from one establishment to another.
- Exemption from fees imposed on expatriates, their dependents and accompanying persons.
- Exit and return to Saudi Arabia for the premium residence holder and their family members without requiring a visa.
- The right to obtain visit visas for parents.
- Use dedicated citizen lanes in airports.
- The right to work in the private sector and to move between establishments applies to the husband, wife and dependents, including the dependents of daughters and sons.
- Conducting business in accordance with the Investment Act.
- To own and enjoy real estate.
Special Benefits
- Nominate two staff members to obtain the "Special Talent" Residency and be exempt from its criteria (e.g., Executives).
- Exemption of the entity from "Nitaqat" for the first 3 operational years.
- Category 2: Obtaining permanent residency directly.
Eligibility Criteria Category 1
- Hold a contractor's license from the Ministry of Investment.
- Obtain a minimum of 400,000 SAR per turn/s as an investment from an entity accredited by the Ministry of Investment.
- Letter of recommendation from the investment entity.
- The applicant's share in the company is not less than 20%.
Category 2
- Hold a contractor's license from the Ministry of Investment.
- Obtain a minimum of 15 Million SAR per turn/s as an investment from an entity accredited by the Ministry of Investment.
- Letter of recommendation from the investment entity.
- The applicant's share in the start-up is not less than 10%.
- Create at least 10 jobs during the first year and at least 10 additional jobs during the second year.
❖ All criteria are subject to change
Duration of Residency Category 1: A fixed-term residence for five years, renewable for one term while continuing to meet the eligibility standards of the 1st group, and a 30-month residence within 5 years.
Category 2: Direct permanent residence, conditional upon the creation of at least 10 jobs in the first year and at least 10 jobs in the second year.
One-time fee: 4,000 SAR
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