Saudi Arabia's new Privileged Iqama visas to cost $213,000 for expats
Saudi Arabia's Green Card-style special residency system may also be availed on one-year renewable basis for $26,700
Nearly a month after the Privileged Iqama special residency system was approved by Saudi Arabia’s Cabinet, chaired by Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, the kingdom has started receiving applications for new visa, which is expected to cost $213,000 (SAR798,750) for expats.
Saudi Arabia has also rolled out a less expensive scheme, wherein expats may procure a one-year renewable residency for $26,667 (SAR100,000).
Through the permanent residency scheme, foreigners will be able to buy property and conduct business in the kingdom without the need for a Saudi sponsor or kafeel.
Expats may also switch jobs and exit the kingdom with ease, and sponsor visas for family members, according to a report by from Construction Week’s sister title Arabian Business.
The kingdom’s iqama residency system has been termed as the Gulf nation’s version of US’s Green Card.