Saudi Arabia Introduces Innovative Visas to Attract Global Talent and Investment  ✍🏽

Saudi Arabia has unveiled five new “premium residency products” as part of its strategic efforts to position itself as a global business hub, offering unparalleled opportunities for skilled professionals and investors. These new visa categories, including special talent, gifted, investor, entrepreneur, and real estate owner residencies, aim to drive economic transformation, create employment, and enhance knowledge transfer. The special visas come with a host of benefits, enabling holders to conduct business, own real estate, obtain work permits for themselves and family members, among other advantages. While specific details about the duration and costs of these visas were not disclosed, they are expected to play a crucial role in attracting diverse talent and boosting foreign direct investment, aligning with Saudi Arabia’s Vision 2030 agenda to diversify its economy away from oil. The premium residency initiative, developed in collaboration with various government entities, underscores the kingdom’s commitment to fostering innovation, entrepreneurship, and sustainable economic growth.