Saudi Arabia is weighing plans to extend the perks and eligibility of its Premium Residency programme to a broader set of wealthy and high‑profile foreigners, including ultra‑rich individuals and owners of super yachts, as it seeks fresh capital and expertise to fuel Vision 2030. People familiar with the discussions say one option on the table is to open a dedicated track for applicants with personal net assets of around $30 million, subject to vetting and recommendations from the Ministry of Investment.
The move would build on a 2019 scheme that already allows affluent expatriates to obtain long‑term residency without a Saudi sponsor, sometimes dubbed the kingdom’s version of a “Gulf Green Card.” Officials see an expanded, more clearly tiered offer for the ultra‑wealthy as a way to lock in globally mobile capital at a time when Gulf neighbours are also sharpening their own golden‑visa programmes.
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Gulf Green Card: From executives and experts to yacht owners and rising stars
According to reporting based on internal documents and policy discussions, the potential expansion would layer new categories onto an already diversified Premium Residency framework. In early 2024, the programme grew from two basic products, renewable and permanent, to seven distinct routes, covering highly skilled professionals, gifted individuals, investors, entrepreneurs, real‑estate owners and those willing to pay a direct non‑refundable contribution.
The latest proposals would target:
- Ultra‑high‑net‑worth individuals, pegged around the $30 million asset mark, with applications likely requiring endorsement from the investment ministry.
- Owners of large luxury yachts, reflecting the kingdom’s push to make Red Sea destinations and new giga‑projects attractive to global leisure elites.
- High‑achieving students and a broader range of entrepreneurs are expanding beyond current startup and high‑impact business tracks.
Draft timelines suggest new rules could be announced as early as April, though final decisions have not yet been taken, and criteria may shift as the package moves through the Saudi policy process.
Existing ‘Gulf Green Card’ offers a menu of routes
Even before any ultra‑rich expansion, Saudi Premium Residency has become a multi‑lane entry system into the kingdom for foreign investors and professionals. Key options include:
- Unlimited (permanent) premium residency via a one‑time payment of SAR 800,000 (about $215,000).
- Limited‑duration residency renewable annually for up to five years at SAR 100,000 (about $27,000) per year.
- Entrepreneur residency, split into two bands, with SAR 400,000+ (≈$107,000) in startup funding for early‑stage founders or SAR 15 million+ (≈$4 million) and job‑creation obligations for high‑impact ventures.
- Real‑estate owner residency, requiring property worth at least SAR 4 million (≈$1.07 million), now eased by 2026 rules allowing foreigners to buy directly in major cities such as Riyadh and Jeddah.
- Investor residency, tied to at least SAR 7 million (≈$1.87 million) in business investment and creation of 10 jobs.
- Special talent and gifted residencies for exceptional professionals and recognized figures in culture and sport, with options to convert medium‑term permits into permanent status if set conditions and minimum residence periods are met.
Benefits common across the programme include permanent or long‑term residency without a local sponsor, the ability to own property under defined conditions, job mobility, and family sponsorship, alongside exemptions from certain labour-nationalization quotas for holders in “special talent” categories.
A tool to lock in capital, skills and residency
The contemplated ultra‑rich tier would sit atop this architecture, explicitly targeting the global wealthy who are increasingly shopping for residency options in the Gulf and beyond. For Riyadh, the calculation is that tying premium residency to substantial wealth, real‑estate ownership, and business investment can:
- Anchor private capital inside the kingdom’s financial system
- Support giga‑projects and new city developments by seeding affluent residents
- Attract entrepreneurial and specialist talent that can accelerate economic diversification.
Demand is already robust: between early 2024 and mid‑2025, more than 40,000 people applied for Premium Residency, with over 8,000 permits issued in 2024 alone, most under “exceptional competence” talent categories, followed by gifted and investor routes.
Competitive Gulf landscape and open questions
Saudi Arabia’s recalibration comes as neighbouring states refine their own golden visas and investor residencies, creating a competitive landscape for global CEOs, family offices and high‑skill professionals choosing a Middle East base. Analysts note that an explicit ultra‑rich tier, if confirmed, would put the kingdom in more direct competition with hubs like Dubai for super‑wealthy residents and yacht‑owning elites, while leveraging its large domestic market and pipeline of mega‑projects as a draw.
For now, key details remain unsettled: how strictly the $30 million net‑worth bar will be enforced, what kinds of investments or local ties will be expected, and how authorities will balance openness to foreign wealth with social and labour‑market priorities at home. But the trajectory is unmistakable: as it races to diversify away from oil, Saudi Arabia is increasingly using residency as a strategic lever not just to host expatriate workers, but to anchor global capital and talent in the kingdom for the long haul.
Deciding between the Saudi Premium Residency and the UAE Golden Visa is no longer just about choosing a country; it’s about choosing a lifestyle and an economic strategy. While the UAE has long been the “safe harbor” for global wealth, Saudi Arabia is now offering unprecedented permanence to court the world’s ultra-rich.
Comparison Table: 2026 Residency Benchmarks
| Feature | Saudi Premium Residency (2026) | UAE Golden Visa (2026) |
| Residency Type | Permanent (Lifetime) or Annual | Long-term (5 or 10 Years), Renewable |
| Property Investment | SAR 4 Million ($1.06M) | AED 2 Million ($545k) |
| Business Investment | SAR 7 Million ($1.87M) + 10 jobs | AED 2 Million ($545k) |
| Sponsorship | None (Self-Sponsorship) | None (Self-Sponsorship) |
| Time Outside Country | No restriction (Freedom of travel) | No restriction (Keep visa active) |
| Family Rights | Spouse, kids < 25, parents | Spouse, kids (no age limit), parents |
| Personal Income Tax | 0% | 0% |
| Corporate Tax | 20% (Non-GCC) or Zakat | 9% (on profits > AED 375k) |
| VAT Rate | 15% | 5% |
Know more about “Saudi Arabia eyes broader ‘Gulf Green Card’ as it courts the ultra‑rich with expanded Premium Residency”:
1. The “Green Card” Concept and Vision 2030
- What is the “Saudi Green Card”?
It is the colloquial name for the Saudi Premium Residency, a program that allows foreigners to live, work, and own property in the Kingdom without a local sponsor (Kafeel). - Why is it being called a “Gulf Green Card” now?
The term is trending because Saudi Arabia is expanding its residency perks to compete directly with the UAE’s Golden Visa, aiming to become the primary hub for the entire Gulf region’s elite. - What is the primary goal of this expansion?
The expansion is a key pillar of Vision 2030, designed to attract foreign investment, stimulate the luxury real estate market, and diversify the economy away from oil. - How does this impact the Kafala (sponsorship) system?
Premium Residency holders are completely exempt from the Kafala system, meaning they do not need an employer’s permission to change jobs, travel, or conduct business. - Who is the “Ultra-Rich” demographic Saudi Arabia is courting?
Reports indicate the Kingdom is eyeing individuals with a net worth of $30 million or more, as well as owners of super yachts and high-profile global investors.
2. New Residency Tracks and Costs
- What are the different tracks for Premium Residency?
As of 2024–2025, there are seven tracks: Limited Duration, Unlimited Duration, Special Talent, Gifted, Investor, Entrepreneur, and Real Estate Owner. - What is the cost of Permanent (Unlimited) Residency?
It requires a one-time fee of SAR 800,000 (approx. $213,000). - How much does the annual renewable residency cost?
The Limited Duration Residency costs SAR 100,000 (approx. $26,660) per year. - What is the “Real Estate Owner” track?
It is a residency specifically for those who own residential property in Saudi Arabia worth at least SAR 4 million ($1.06 million), provided the property is mortgage-free. - What are the requirements for the “Investor” track?
Investors must obtain an investment license, commit at least SAR 7 million ($1.87 million) into the economy, and create 10 jobs within the first two years.
3. Benefits for the Ultra-Rich
- Can Premium Residency holders own businesses?
Yes, they can have $100\%$ foreign ownership of businesses in most sectors, allowing them to operate as local entities rather than foreign branches. - What are the travel privileges?
Holders enjoy unlimited exit and re-entry without needing a visa for each trip and can use the “fast-track” immigration lanes at Saudi airports. - Are there tax benefits?
While holders are subject to standard corporate taxes, they are currently exempt from the expat levy (dependent fees) that applies to regular residents and their families. - What family rights are included?
Residency is extended to the spouse and children under 25, and holders can also sponsor visit visas for extended relatives (like parents). - Does the program offer a path to citizenship?
Generally, no. The Premium Residency is designed for permanent settlement and economic participation, not as a direct route to Saudi nationality.
4. Market Impact and Competition
- How does this program compare to the UAE Golden Visa?
While the UAE program is more established, Saudi Arabia’s version offers greater permanence (lifetime vs. 10 years) and direct access to a much larger domestic market and trillion-dollar giga-projects. - What are “Super Yacht” owners searching for?
Wealthy individuals are looking at the Red Sea Global projects, where new regulations allow easier docking and residency for yacht owners to turn the Saudi coast into a “New Riviera.” - How has the real estate market responded?
Luxury property demand in Riyadh and Jeddah has surged, with high-net-worth individuals purchasing branded residences (like Armani or Four Seasons) to secure their residency. - What is the “Special Talent” residency for?
It targets high-earning executives (earning over SAR 80,000/month), healthcare specialists, and researchers to fuel the Kingdom’s innovation sectors.