Home GCC Saudi Arabia Saudi’s new permanent residency permit fee to exceed $200,000 – report Last week, the Saudi cabinet approved the special residency scheme aimed at attracting wealthy and high-skilled expats by Staff writer May 19, 2019 The fee for Saudi’s new permanent residency permit (iqama) – similar to a green card scheme – has been fixed at SAR800,000 ($213,333), local daily Saudi Gazette reported. Meanwhile a one-year temporary iqama will cost expats SAR100,000 ($26,666), the report quoted unnamed sources as saying. Last week, the Saudi cabinet approved the special residency scheme aimed at attracting wealthy and high-skilled expats. Read: Saudi cabinet approves ‘green-card’-style residency scheme for foreign expats The law, which was earlier passed by the Shoura Council, will grant the special iqama holders residency without the need for a Saudi sponsor. Under the law, the holder of such an iqama will have family status, can recruit workers, own and lease property and transport in the kingdom, can obtain visit visas for relatives, can freely enter and exit the country and will also have the use of designated queues at airports. Read: Saudi’s Shoura Council approves new ‘green-card’ residency scheme for expats Two categories will be offered – an extended iqama valid for an unlimited period, and a second with a one-year validity which will be subject to renewal. Eligible expatriates must have a valid passport with a credit report, adequate financial resources, a health report and no criminal record. A separate centre is being set up to handle the cases under the new scheme, which has also been tasked with preparing the executive regulations of the law. The centre, which will have financial and administrative independence, is expected to soon announce all the details related to scheme, Saudi Gazette reported. Currently over 10 million expats work and live in Saudi Arabia. Read: Saudi’s green card system will cut foreign remittances – report Tags expatriates expats Expats Saudi Arabia iqama Lifestyle permanent residency permit Saudi Saudi sponsor Shoura Council 0 Comments You might also like Aldar launches Nikki Beach Residences in Al Marjan, sales to open on Dec 5 Abu Dhabi: Yas Waterworld expansion to add thrilling new experiences Ed Sheeran’s Mathematics Tour to come to Dubai, Bahrain in Jan 2024 S.T. Dupont, 24 Hours of Le Mans unveil historic collaboration