International

Saudi launches ‘green card systems’ for expats

Staff Correspondent
In this file photo taken on 27 November 2018 Saudi Arabia`s Crown Prince Mohammed bin Salman is pictured while meeting with the Tunisian President at the presidential palace in Carthage on the eastern outskirts of the capital Tunis. Photo: AFP
In this file photo taken on 27 November 2018 Saudi Arabia`s Crown Prince Mohammed bin Salman is pictured while meeting with the Tunisian President at the presidential palace in Carthage on the eastern outskirts of the capital Tunis. Photo: AFP

Saudi Arabia launched on Sunday their new special residency scheme similar to green card systems applicable in other countries, aimed at attracting wealthy and high-skilled expats.

The residency scheme offers two 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 scheme was approved by the Saudi cabinet last month, but on Sunday the online portal to apply was opened to the public.

The residencies would allow foreign expats free movement, ability to own properties and to do business in the kingdom.

Currently over 10 million expats work and live in Saudi Arabia under a system that requires them to be sponsored by a Saudi employer and be issued an exit and re-entry visa whenever they want to leave the country. ($1 = 3.7502 riyals)

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