Riyadh, Saudi Arabia. 10 January 2024– In line with the vision of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister of the Kingdom of Saudi Arabia, His Excellency Dr. Majid bin Abdullah Alkassabi, Chairman of the Board of the Premium Residency Center, has announced the launch of five new Premium Residency products. These products align with national goals to boost Saudi Arabia’s position as a global hub, attracting skilled professionals and investments. The initiative aims to further drive the country’s economic transformation by creating employment opportunities and fostering knowledge transfers.
Alkassabi outlined that the five new Premium Residency products are the Special Talent, Gifted, Investor, Entrepreneur, and the Real Estate Owner Residency. He emphasised that today’s announcement will accelerate Saudi Arabia’s trajectory towards a knowledge-based, diversified economy in new sectors.
He also affirmed that the five new Premium Residency products will offer holders unparalleled opportunities for settling in Saudi Arabia. The Chairman of the Board of the Premium Residency Center highlighted that the doors to all Premium Residency products are open to those who can add value to the national economy and actively participate in Saudi Arabia’s rapid development journey under Saudi Vision 2030.
The five new products announced today have been tailored for working professionals, talents and investors who fit into specific categories.
The ‘Special Talent’ Residency caters to executives and professionals who specialise in healthcare, science, and research. It aims to attract individuals with unique skills and experiences who can contribute to knowledge and technology transfers.
The ‘Gifted’ Residency aims to integrate skilled professionals and talented individuals into Saudi Arabia’s vibrant and growing cultural and sport sectors. Meanwhile, the ‘Investor’ Residency is designed for investors looking to capitalise on Saudi’s thriving business landscape and generate high impact returns from across the economy.
Additionally, the ‘Entrepreneur’ Residency is intended for aspiring entrepreneurs and owners of innovative projects, eager to launch and develop their start-ups in Saudi Arabia, contributing to the nation’s ambitious economic transformation journey. ‘Real Estate Owner’ Residency is designed for individuals who own real estate and are looking to enjoy the Kingdom’s exceptional quality-of-life, while benefitting from its promising real estate market, which has undergone rapid and comprehensive development in recent years.
The five new products have been developed in collaboration with the Premium Residency Center’s strategic partners across an array of government entities. The products offer a wide range of benefits to holders, including ability to conduct business, own real estate, obtain work permits for holders and family members, and many more advantages the Premium Residency Center provides in cooperation with government partners.
