The Kingdom is weighing another expansion of its Premium Residency Program, aimed this time at individuals with a net worth of at least USD 30 mn, Bloomberg reported, citing people it says are in the know. The move — which could be announced in April — would also open new pathways for luxury yacht owners and high-achieving students, widening the program’s appeal beyond its traditional talent base.

The details

Under the proposed changes, high-net-worth individuals, large yacht owners, high-achieving students, and entrepreneurs would be eligible to apply for premium residency, possibly needing a recommendation from the Investment Ministry. Application fees for the new categories are expected to be around USD 1k, broadly in line with most existing tracks, although fees can climb to nearly USD 200k for those seeking permanent residency.

The rationale: The proposed expansion would build on a broader push to position the Kingdom as a more compelling destination for foreign capital, investors, and skilled professionals. Recent reforms have already opened equity markets further and eased foreign ownership rules in real estate.

Why it matters

Lowering the friction for high net worth individuals signals a bid to deepen the Kingdom’s private equity market and stimulate high-end real estate demand — placing itself in closer competition with nearby regional hubs like Dubai.

The residency program has focused since its launch on special talent — executives, doctors, and researchers — with rigid thresholds, including a minimum monthly salary of SAR 80k, active business investments of at least SAR 7 mn, or property ownership valued at SAR 4 mn or more.

The program expanded in 2024 from just two to seven categories, including exceptional competence, talent, business investor, entrepreneur, real estate owner, and both limited and unlimited duration premium residency. About 40.2k applications were received between January 2024 and July 2025, with 8.1 permits issued in 2024 alone — a record high.

Why applicants care: Premium residency holders benefit from exemptions on certain business fees, easier access to real estate ownership, and greater long-term stability. Residents can freely enter and exit the country, change jobs, and sponsor family members.

MEANWHILE- Saudi Arabia’s Premium Residency Center has approved 3.5k private-sector entities whose employees may qualify for the Special Talent Premium Residency, Okaz reported.

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