By Andrei Skvarsky.
Saudi Arabia has eased residency application rules for foreign investors, entrepreneurs and professionals via five new eligibility-based types of visas.
The five eligibility categories are investors; entrepreneurs; professionals including doctors and scientists; individuals owning real estate in Saudi Arabia; and individuals involved in cultural and sports activities, according to a statement from the country’s Premium Residency Centre.
The statement said nothing about the cost or duration of the new visas, but Saudi state-owned news service Al Arabiya said an applicant would be able to choose between a one-year renewable visa or an indefinite one and would be charged $1,066.
Al Arabiya did not say whether there would be renewal charges.
According to the Premium Residency Centre, the new rules, which are part of a premium residency system set up in 2019, are one of the measures under Saudi Vision 2030, an economic diversification strategy launched in 2016.
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