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February 1, 2024

PREMIUM RESIDENCY LAW

New Opportunities for Foreign Talent and Investors The Kingdom of Saudi Arabia is actively pursuing its ‘Vision 2030’ Initiative, which aims to transform its economy by diversifying away from oil and implementing comprehensive reforms in the commercial, social, and civil sectors. As part of this initiative, Saudi Arabia is making concerted efforts to attract skilled professionals and foreign investors who can contribute to its economic and social transformation. Recognizing the pivotal role these individuals play, the Kingdom has recently revamped its Premium Residency Program to provide a more appealing and flexible framework for obtaining Premium Residency. Under the revised program, Saudi Arabia seeks to welcome world-renowned scientists, artists, talented professionals, and seasoned entrepreneurs with open arms. It offers them not

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