Saudi Arabia is reportedly planning to expand its premium residency programme to attract a wider pool of foreign residents, including high-net-worth individuals and superyacht owners.
The proposed plan is to open the residency to individuals with a net worth of close to $30 million, Bloomberg reported. However, these wealthy individuals may need an endorsement from the investment ministry.
Other potential beneficiaries may include owners of large yachts, top-performing students and a wide range of entrepreneurs.
The updated rules may be announced as early as April and follow major policy changes aimed at opening the kingdom’s capital and property markets to
By Pramod Kumar
