BUSINESS/FINANCE
Saudi Arabia Issues October 2025 Update for Premium Residency Program
Saudi Arabia has officially announced an update to its Premium Residency (Iqama) Program for October 2025, introducing revised fees, enhanced benefits, and a simplified application process.
The Premium Residency program allows foreign nationals to live, work, and invest in Saudi Arabia without the need for a local sponsor. According to official sources, the scheme currently offers two main types of residencies:
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Permanent Residency: A one-time payment of SAR 800,000 (approximately USD 213,000) provides lifelong residency.
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Renewable Residency: Annual renewal at a cost of SAR 100,000 (around USD 26,700).
Benefits include:
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No need for a sponsor (kafeel)
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Freedom to own property (except in Makkah, Madinah, and border areas)
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Permission to work or start a business
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Sponsorship for spouse and children
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Freedom of travel without visa restrictions
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Access to banking, education, and healthcare services
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Permission to transfer money abroad
However, Premium Residency holders are not granted Saudi citizenship or voting rights.
Eligibility Requirements:
Applicants must be at least 21 years old, possess a valid passport, have no criminal record, be medically fit, legally reside in Saudi Arabia, and provide proof of stable income or capital.
Application Process:
Interested individuals can apply through the official website (pr.gov.sa) by creating an account, completing the online form, uploading necessary documents, paying the required fee, and awaiting confirmation — typically within one to three months.
The Saudi government says the initiative aims to diversify the national economy, attract global investors, and create new opportunities for skilled professionals in the Kingdom.