Saudi Arabia launches residency scheme for expats

Published June 24, 2019
The move appears aimed at boosting non-oil revenue as the kingdom seeks to diversify its economy. — Bloomberg/File
The move appears aimed at boosting non-oil revenue as the kingdom seeks to diversify its economy. — Bloomberg/File

RIYADH: Saudi Arabia on Sunday launched a new special residency scheme aimed at luring wealthy expats as the petro-state seeks to boost non-oil revenue.

The scheme offers a permanent residency for 800,000 riyals ($213,000) and a one-year but renewable residency costing 100,000 riyals ($27,000), according to the online portal for registrations.

The scheme will allow expats to do business without a Saudi sponsor, buy property and sponsor visas for relatives, the website said.

Analysts say the programme will largely benefit wealthy Arabs who have lived in Saudi Arabia for years without permanent residency or multinational companies seeking to do long-term business in the kingdom.

The move appears aimed at boosting non-oil revenue as the kingdom seeks to diversify its economy.

It was approved by the Saudi cabinet last month, but the portal began accepting applications on Sunday.

Saudi Arabia is currently home to some 10 million overseas workers, many of whom are subjected to what labour activists describe as restrictive residency rules.

Expat workers are typically sponsored by a Saudi employer and are required to get visas to exit and enter the kingdom.

Saudi Arabia has seen a strong exodus of foreign workers in recent years amid rising costs after the government imposed fees on dependants and restricted foreigners from working in certain sectors.

The kingdom is also in the midst of an intensifying crackdown on illegal workers that has seen hundreds of thousands expelled over the past two years.

Published in Dawn, June 24th, 2019

Opinion

Editorial

Out of control
Updated 19 Feb, 2025

Out of control

AS bodies continue to fall in Kurram despite a state-sanctioned ceasefire, one wonders how long local militants’...
Hollow words
19 Feb, 2025

Hollow words

IT is not uncommon for politicians to resort to the use of hyperbole in order to boost their public standing. ...
Migration matters
19 Feb, 2025

Migration matters

THE grass, it seems, did appear greener on the other side to millions of people as evidenced by the latest UN ...
Cholistan project
Updated 18 Feb, 2025

Cholistan project

GPI goals align with Pakistan's broader economic aims but the manner in which the initiative was launched raises questions.
Right to know
18 Feb, 2025

Right to know

IT is an unfortunate paradox that while on paper Pakistan has some of the most impressive right to information laws,...
Dam dispute
18 Feb, 2025

Dam dispute

THE situation in Chilas needs attention and a fair-minded approach so that it can be resolved amicably. Diamer ...