Embark on a transformative journey with the recent announcement of new categories under the Premium Residence Visa in the Kingdom of Saudi Arabia. Designed to attract global investors and individuals, the initiative goes beyond work, inviting them to establish residence. Specifically, the Premium Residence Visa for Entrepreneurs stands out, offering a distinctive opportunity for long-term residency, exclusive privileges, and a chance to contribute to the thriving Saudi economy through strategic investments. Delve into this article, tailored to provide entrepreneurs with comprehensive insights and vital information on these advantageous opportunities.
What is a premium residency visa?
- A Premium Residency Visa presents a wide array of advantages for aspiring entrepreneurs aiming to establish their roots in Saudi Arabia. This exclusive visa enables entrepreneurs to not only reside but also operate their businesses within the Kingdom for an extended duration. It grants them the utmost stability and comprehensive support crucial for the flourishing growth of their ventures.
Key Benefits of Premium Residency in KSA for Entrepreneurs
- Family Benefits: Entrepreneurs have the privilege of residing in Saudi Arabia, with the added benefit of being able to bring along their parents, spouses, and children under the age of 25.
- Flexibility in Establishment: Entrepreneurs have the liberty to transition smoothly from one establishment to the next, facilitating adaptability and agility in their business endeavors.
- Expat Fee Exemption: Holders of premium residency, along with their dependents and companions, are eligible for exemption from expat fees.
- Visa-free travel: enjoy the convenience of entering and exiting Saudi Arabia without the need for a separate visa. This makes it easier to travel for business or pleasure.
- Visit Visa Privileges: Individuals holding premium residency are eligible to acquire visit visas for their family members.
Category 1: Startup Entrepreneurs Premium Residence Visa
- Hold an entrepreneur license from the Ministry of Investment.
- Secure a minimum investment of SAR 400 from an accredited entity.
- Obtain a recommendation letter from the investment entity.
- Possess a minimum 20% share in the company.
- Five-year renewable residency visa.
- Possibility of family sponsorship.
- Access to government support programs and initiatives.
- Streamlined business setup process.
- Exemption from certain taxes and fees.
Category 2: High-Impact Entrepreneurs Premium Residence Visa
- Create at least 10 jobs in the first year and 10 or more jobs in the second year.
- Generate SAR 10 million in annual revenue within two years.
- Permanent residency visa.
- All benefits of Category 1 visa.
What is the cost of obtaining an entrepreneur residence visa?
Start the journey to long-term residency and exclusive privileges with the Premium Residence Visa for Entrepreneurs in Saudi Arabia. Benefit from a simplified application process for both categories, with a single fee of SAR 4,000, providing essential insights for entrepreneurs seeking to establish a lasting presence in the Kingdom’s dynamic economy.
Experience a seamless visa application process with Business Link, the ultimate solution to tap into the immense opportunities offered by the Kingdom through the Premium Residency Visa for Entrepreneurs. Our proficient team will skillfully guide you through each step, guaranteeing adherence to all requirements, simplifying intricate paperwork and documentation, hence saving your valuable time and effort. We are dedicated to ensuring a swift and hassle-free approval of your visa. Don’t hesitate to reach out to Business Link today and allow us to empower your entrepreneurial aspirations in Saudi Arabia.