Saudi Arabia explores expanding premium residency for foreigners

Saudi Arabia is reportedly planning to expand its premium residency programme to attract a wider pool of foreign residents, including high-net-worth individuals and superyacht owners.

The proposed plan is to open the residency to individuals with a net worth of close to $30 million, Bloomberg reported. However, these wealthy individuals may need an endorsement from the investment ministry.

Other potential beneficiaries may include owners of large yachts, top-performing students and a wide range of entrepreneurs.

The updated rules may be announced as early as April and follow major policy changes aimed at opening the kingdom’s capital and property markets to international investors, the news agency said.

However no final decisions have been made on the residency programme changes.

At present the premium residency scheme primarily targets select executives, entrepreneurs and researchers, offering exemptions from certain business fees and access to property ownership.

Standard application costs are $1,000, but fees can reach $200,000 or more for overseas applicants seeking permanent residency. 

Charges for the newly proposed categories are expected to remain close to $1,000, the report said.

Dubai has been offering golden visas to attract foreign talent, stimulate business activity and support the real estate market.

In August 2025, Oman began inviting foreign investors to apply for “golden residency” to attract more foreign capital, offering a host of incentives.

Further reading:

• Saudi Arabia opens real estate sector to foreign buyers
• Saudi labour law gets facelift to lure foreign talent
• Saudi Arabia to introduce bilingual real-estate documents