Five New Visa in Saudi Arabia: Open Doors to Opportunities

Five New Visa in Saudi Arabia: Open Doors to Opportunities

by Priyadarshini Balamurugan 21, Feb 2024

Are you someone who is trying to enter Saudi Arabia’s largest and fastest-growing market?

Here are some Premium Residency Visas in Saudi Arabia introduced by the Saudi government to attract investors and entrepreneurs and also to increase the knowledge-based economy in the nation.    

This blog will let you dive deep into the benefits and the categories of visas.

Perks of New Visa in Saudi Arabia

Here are the benefits of availing of a new visa in Saudi Arabia:

  • The work permits are more simplified.
  • Visa holders can enjoy huge tax breaks.
  • Other incentives are also worth experiencing.
  • It also offers 100% ownership of your business and property.
  • A new visa in Saudi Arabia offers a residency visa for an individual and also to their dependents.

Saudi Arabia New Visa Categories

Below listed are the categories of new visas in Saudi Arabia: 

  • Special Talent Visa

This type of visa is offered to someone who has expertise in any particular field, such as science, arts, sports, or any exceptional skills. 

A New visa in Saudi Arabia allows residency visas and visas for their dependents. It also has the ability to issue a visa to foreign workers and can also enjoy tax exemptions.  

  • Gifted Visa

The name itself says that this visa is for people who perform extraordinarily in academics or in any other professional or non-professional fields. 

This visa also provides benefits similar to a special talent visa, such as residency, tax exemptions, and sponsorship rights.  

  • Investor Visa

Investor visas aim to attract investors who wish to invest in Saudi Arabia. This visa also provides residency for the visa holder and also for their dependents. 

It also gives you the right to own property and business along with tax exemptions. 

  • Entrepreneur Visa

This visa is designed for people who wish to set up a business in Saudi Arabia. Like all other visas, this visa also has the benefit of having 100% ownership sponsoring your employees and the work permit procedure is also simplified.   

  • Real Estate Owner Visa

A real estate visa is for individuals who invest in real estate, but there is a threshold, and that is SAR 1 million. 

You have to invest almost SAR 1 million in real estate, which is approximately USD 266,000. Like all other visas, this visa also provides a residency visa for visa holders and their dependents.

Eligibility to Avail New Visa in Saudi Arabia

The following are the eligibility criteria for obtaining a new visa in Saudi Arabia:

  • You should have professional skills.
  • A person who is ready to invest in Saudi Arabia.
  • Someone who wishes to start a business in Saudi Arabia.

Aim of New Visas in Saudi Arabia

Following are the new visas in Saudi Arabia:

  • To reduce the dependency on oil.
  • To diversify the economy of Saudi Arabia.
  • To Attract ex-pats who wish to invest or start a business in Saudi Arabia.
  • Enhance the opportunities both in the field of new business incorporation and for the people who seek to work in Saudi Arabia.

Conclusion

Overall, the new visa in Saudi Arabia has been launched to enhance the economy of the nation in different fields. This visa will help the professionals and the people who have extraordinary talents in any particular field. 

A new visa in Saudi will attract investors and entrepreneurs who have the dream of launching their dream business in Saudi Arabia or investing in this nation.

These technical things might confuse you. It's always better to hold hands with experts when it comes to understanding the visa process or business setup in Saudi Arabia
Here, Commitbiz will become your expert point of contact. With our help, you can inscribe your footprint in the global market of Saudi Arabia.

FAQs

What are the new visas Saudi Arabia is introducing?

The five new visas are Premium Residency Visa, Invest or Start Visa, Specialist Visa, Innovation Visa, and Second Home Visa.

What are the benefits of the new visas?

The visas offer a range of benefits, including long-term residency, business ownership, simplified work permit procedures, tax breaks, and other incentives.

Who is eligible for the new visas?

The eligibility requirements vary depending on the visa category. For example, the Premium Residency Visa is aimed at highly skilled professionals, investors, and entrepreneurs, while the Invest or Start Visa is specifically for foreign investors looking to start businesses in Saudi Arabia.

How much will the new visas cost?

The cost of the visas has not yet been officially announced, but it is expected to be competitive with similar programs in other countries.

When will the new visas be available?

The new visas are now available for application.

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