Saudi Arabia is going to offer the green card residency to the investors and professionals.
Saudi Arabia green card residency is approved as the country ended the Kafala system. However, under that system migrant employee’s immigration status is legally bound to an individual sponsor or employer (kafeel) during the entire contract.
The Shoura Council approved a “green card” style residency scheme. The authorised draft of the new Privileged Iqama system will offer a raft of benefits to highly skilled expatriates and owners of capital funds. Unlike the iqama system, such residents will not need a Saudi employer or sponsor.
Other advantages include the ability to recruit of workers; ownership of property and transport; employment in the private sector, commerce and industry; freedom of movement and exit from the kingdom and return; and the use of designated queues at airports.
Under the system, which requires a guarantee of specific fees, there are two categories: An extended iqama and a temporary one.
Eligible expatriates must have a valid passport with a credit report, a health report and no criminal record.