In our last article, we went over the different pathways and tracks to acquiring Saudi Premium Residency, touching upon details like eligibility requirements and tenure. In this piece, however, we will focus on one specific pathway: PR for Entrepreneurs.

The Premium Residency for Entrepreneurs is a pioneering initiative that aims to attract funded tech entrepreneurs who have expanded to Saudi Arabia. Let’s take a closer look at this program.

Special Benefits:

In addition to the general benefits mentioned in our previous article, there are some additional benefits offered to entrepreneur residency holders.

1. ٍSaudization Exemption: New entities are exempt from the “Nitaqat”/Saudization system for up to three years.
2. The residency could be converted to a permanent Residency (see Category 2)

Eligibility Criteria

PR for Entrepreneurs targets (mostly tech) entrepreneurs who are funded by a whitelisted VC or angel groups. There are two categories: one offers 5-year fixed-term residency, while the other opens the door to permanent residency. The one-time fee for either category is 4,000 SAR.

First Category: 5-Years PR

Under this category, the PR is issued for a fixed term of five years and can be renewed for an additional five-year term. To qualify for renewal, the applicant must have spent at least 2.5 years out of the 5 in Saudi Arabia.

Applicants must have:

• An established company in Saudi
• Obtained a minimum investment of 400,000 SAR from an entity accredited by the Centre, accompanied by a recommendation letter as well as proof of investment.
• At least a 20% ownership stake in the company.

Second Category: Lifetime PR

Under this category, applicants are awarded lifetime premium residency directly, but on the condition that 10 jobs are created in the first year and at least 10 jobs in the second year.

Applicants must have:

• A steeper minimum investment of 15 million SAR by an entity accredited by the Centre, along with a recommendation letter as well as proof of investment.
• At least a 10% ownership stake in the company.
• Creation of 10 jobs in the first year and an additional 10 in the second year.

Application Process

Fill out the application form available on the website. It is quite lengthy, so be prepared to give answers on:

• Personal information
• Parents and Family Information
• Educational background
• Achievements and accolades
• Why do you want to stay in Saudi?

Once you have submitted the form and paid the non-refundable processing fee of 600+ SAR, your application is in process. You can expect a response within three to six months of submission. Once you get approved, you will be awarded PR after paying the 4,000 SAR one-time fee.

Saudi Expansion Series

This article is part of the Saudi Expansion series, where we aim to educate international entrepreneurs and business owners on Saudi Arabia's foreign investment regime for a smooth landing. This article is written by Tawaref, a tech investment community that finances top regional startups & offers entrepreneurial services.