Saudi Arabia approves permanent residency for expatriates

 

For the first time Saudi Arabia has introduced a scheme where certain expatriates can obtain permanent residency, allowing them to own real estate and reside with their families without a Saudi sponsor.

The “Privileged Iqama” system will offer a permanent residence scheme and one that can be renewed annually to highly skilled expatriates and owners of capital funds.

The decision, approved by Saudi Arabia’s Cabinet is aimed at attracting long-term investments as the government tries to diversify the economy and boost domestic spending.

Via The Arab News

 

 

 

 

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