On Sunday, Saudi Arabia announced a special residency scheme with similarity to green card rule that applies in other nations. The new scheme aims at attracting more of skilled and wealthy expats into the country. The scheme which was approved by the cabinet last month, became online for public make their application.
The residency scheme comes with 2 types of residencies, a permanent one for 800,000 Saudi riyals ($213,321.96) and a one year but renewable residency for 100,000 Saudi riyals ($26,665.24).
The residency will enable foreign expats to freely move as well as own real estate and undertake business activities in the kingdom.
In the current regime, a Saudi employer has to sponsor the expats and issuance of a re-entry and exit visa is done by them.