Saudi Arabia is considering expanding its Premium Residency program to include high-net-worth individuals with a net worth of $30 million and superyacht owners, according to people familiar with the matter who spoke to Bloomberg.
The proposed changes could be announced as early as April, the people said, requesting anonymity as they discussed information that isn’t yet public.
High-net-worth and superyacht owners would likely require recommendations from the kingdom’s investment ministry, while high-achieving students and a broader range of entrepreneurs may also become eligible under the expanded framework.
No final decisions have been made on the expansion, according to the Bloomberg sources.
Superyacht Component Mirrors Abu Dhabi Approach
The potential inclusion of superyacht owners in Saudi Arabia’s program appears similar in concept to the Golden Quay program, launched by Abu Dhabi in late 2024.
Under the UAE Golden Visa framework, this pathway offers 10-year renewable residency permits for owners of superyachts measuring 40 meters or longer, albeit requiring an official nomination to qualify – similar to Saudi Arabia’s reported plans for this category.
The Abu Dhabi program targets two main categories: private yacht owners with vessels exceeding 40 meters and key maritime industry figures, including CEOs and major shareholders of yacht-building companies, yacht agents, service providers, and insurance providers. It’s unclear whether Saudi Arabia will take a similar approach.
Broadening Beyond Current Categories
This potential expansion would broaden the current premium residency programs, which now focus on high-earning executives, entrepreneurs, real estate investors, and researchers.
It would follow recent reforms aimed at making Saudi Arabia more attractive to wealthy foreigners, including opening equity and real estate markets to foreigners and extending alcohol sales to high-earning residents.
Premium residency status offers greater stability for expatriates by allowing freedom to exit and enter the country, easily change jobs, and extend residency to family members; these benefits are particularly significant in the GCC, where traditional work visas often create employer dependencies.
The program has already shown traction since its early 2024 overhaul, which introduced seven new tracks. Saudi authorities issued 8,074 permits throughout 2024, and total applications reached over 40,000 between January 2024 and July 2025.
Current Premium Residency Framework
Under current rules, Saudi Arabia’s premium residency program operates through multiple investment pathways. Real estate investors must acquire residential property worth at least 4 million Saudi riyals (approximately $1.1 million) that is mortgage-free, existing rather than under development, and appraised by accredited Saudi valuers.
Business investors face higher thresholds: obtaining an investment license, deploying at least 7 million riyals ($1.9 million) within two years, and employing a minimum of ten Saudi workers.
Business investors qualify for immediate permanent residency, while property investors maintain their residency status as long as they hold their investment.
The Exceptional Competence category targets high-performing professionals and senior executives, with minimum salary requirements ranging from approximately $4,000 per month for researchers to roughly $21,000 for top-tier executives.
Foreign residents constitute over 40% of Saudi Arabia’s population and more than 75% of its workforce, representing a substantial market for the program.
The kingdom’s decision to open its property market more broadly to foreigners, which came into effect last week, may further increase foreign interest in the premium residency program.
IMI Pros Who Can Help with Saudi Residency
