Saudi Arabia’s Cabinet Ministry has approved a special residency permit (i.e. Privileged Iqama) for Skilled Expatriates such as Entrepreneurs, Investors, etc.
This special residency permit called Privileged Iqama or new Green Card style Iqama will allow expats to get benefit with this new residency scheme in which the expatriates can live in Saudi Arabia without a Saudi Sponsor (kafeel) or employer.
Privileged Iqama will only be provided to following Skilled Expatriates
- An Investor or Entrepreneur who can own a property in the Kingdom
- A person who can recruit other employees
- A person who has his own transport & Land
The residence permits will also include a family status so that a holder can issue visit visas for relatives (family).
There will be 2 types of systems under this residence permit, one which can be used for an unlimited period and the other valid on a yearly basis and subject to renewal.
Requirements for Expatriates to obtain the new Privileged Iqama permit include having a valid passport, a good credit report, a health report, and a clean criminal record.
“This will enable non-Saudis to practice their work according to the systems available in the government. It will allow them to invest and buy residential, commercial, and industrial property,” al-Qasabi said.
“Investors will hence be registered in the commercial community. This will limit commercial concealment and help us build a realistic economy,” the minister added.