Saudi Arabia offers a residency by investment program that grants renewable 5-year residency visas to foreign nationals who invest in property in the kingdom.
Located on the Arabian Peninsula, Saudi Arabia is an oil-rich nation focused on diversifying its economy and opening tourism opportunities.
Here is an overview of Residence in Saudi Arabia through MW:
Investment Requirement
To qualify for residency, foreign nationals must purchase property in Saudi Arabia valued at a minimum of SAR 1 million (around $267,000).
The property purchase can be made individually or jointly. The property investment must be retained for at least 5 years.
Application Process
Applicants must engage a legal consultant or property broker licensed by the Saudi Ministry of Investment to navigate the process.
Required documents include passport copies, medical certificates, police clearance certificates and the title deed. The process takes 2-4 months once the property purchase is completed.
Biometrics are provided during a visit to Saudi Arabia where the 5-year residency permit is issued. This is renewable subject to retaining the property.
Benefits Granted
Benefits of residency by investment by Migrateworld Services include:
– Renewable 5-year multiple entry residency visa
– Residency status extends to a spouse and dependent children
– No requirement to reside full-time in Saudi Arabia
– Pathway to Saudi citizenship is possible after 10+ years
– Healthcare and schooling benefits as a resident
– Tax-free income and no restrictions on repatriation of profits
Dual citizenship is recognized. There are no language, culture or residency requirements.
Taxes and Fees
Saudi Arabia has no personal income taxes. Only a 5% VAT and local municipal taxes apply. Exit and re-entry visas cost 100 SAR per person.
Ideal Applicants
Saudi Arabia appeals to:
– Investors from the Middle East or neighboring regions
– Entrepreneurs wanting to do business in the large Saudi market
– Muslims interested in residing near the holy sites
– Families seeking improved quality of life and social benefits
With Saudi Arabia’s opening of tourism, residency through property investment provides a foothold to live, work or do business there long-term.
For applicants who can purchase suitable real estate in Saudi Arabia, residency by investment confers many lifestyle benefits and opportunities in this wealthy Gulf nation.
