Saudi Arabia has launched a new permanent residency visa to attract healthcare, sports, and real estate talent

Highlights: Saudi Arabia launches new permanent residency visa to attract talent in healthcare, sports and real estate

• Saudi Arabia introduced new permanent residency to attract talent in the Gulf countries.
• This new visa aims to improve the country's economy by creating more employment opportunities.
• There are five programs for professionals from two sectors that serve the profession.
• This visa will allow professionals to settle in Saudi Arabia.  

 

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Details of this initiative of introducing New Permanent Residency:

Saudi Arabia introduced this new permanent visa for five programs. The five programs will benefit professionals from healthcare, sports and real estate. This program aims to attract skilled professionals and investment as a Gulf country that plans to turn its economy away from fossil fuel.

 

The new Permanent residency visa of Saudi Arabia will allow opportunities to settle, conduct business, own real estate, and obtain a work permit for holders and family members in Saudi Arabia.

 

This aim is part of the 2030 economic transformation plan to disaffect the dependence on oil, including attracting billions in foreign investment.

 

It will also grow rivalry between neighbouring UAE as it is already a region of trade and business. Different authorities have taken various measures to attract professionals. UAE launched the Golden Visa, and Dubai Launched a 'family wealth centre' to help wealthy individuals and businesses deal with cultural issues and governance.

 

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