Exclusive: Saudi Arabia Eyes Wider Premium Residency Scheme Under Vision 2030

Saudi Arabia is preparing plans to expand its Premium Residency programme to include superyacht owners, buyers in flagship mega-projects, and high-achieving students, as the kingdom steps up efforts to attract foreign capital, talent, and long-term visitors under Vision 2030, according to a person with direct knowledge of the matter.

The proposals, which are still under discussion and have not yet been finalised, form part of broader reforms aimed at diversifying the Saudi economy away from oil while transforming the country into a more competitive global destination for investment, tourism, and education.

Mega-project buyers and yacht owners in focus-

Under the draft plans, foreigners purchasing homes in major Vision 2030 developments could become eligible for premium residency. This includes buyers in projects such as Riyadh’s $60 billion Diriyah Gate development, one of the kingdom’s most prominent cultural and lifestyle destinations.

The deliberations also include extending premium residency to ultra-wealthy superyacht owners who moor vessels in Saudi waters, a move seen as supporting the growth of luxury tourism along the Red Sea coast, where high-end resorts and marinas are rapidly being developed.

Talent attraction through education-

High-performing students are also being considered as potential beneficiaries, reflecting Saudi Arabia’s ambition to retain global talent and strengthen its education and research ecosystem as part of long-term economic diversification.

Current eligibility and benefits-

Saudi Arabia’s Premium Residency programme is currently available under specific criteria. Existing eligibility includes:

• Executives earning more than SR80,000 ($21,300) per month

• Specialised professionals in healthcare and science earning over SR35,000 ($9,300) per month

Benefits include visa-free entry, the right to work, and the ability to extend residency privileges to family members, making the programme comparable to “golden visa” schemes offered by other countries.

Part of wider residency reforms-

The proposed expansion would mark another step in Saudi Arabia’s efforts to make the kingdom more attractive to foreigners. Authorities have already introduced rules allowing premium residency for individuals purchasing property worth more than $1 million.

In addition, since January 22, non-Saudis have been permitted to own residential and commercial property in designated areas of the kingdom, although the full regulatory framework has yet to be rolled out.

The Saudi Premium Residency programme did not immediately respond to requests for comment.

If implemented, the changes would further signal Saudi Arabia’s shift toward a more open, investment-friendly residency framework, aligning lifestyle incentives with its ambitious Vision 2030 transformation agenda.