The visa crackdown began quietly over the past two months as Saudi-UAE tensions hit a fever pitch. Mahmoud Elwakil says the unofficial policy is “unlikely to last.”
After receiving over 40,000 applications in 18 months, Saudi Arabia may further expand its Premium Residency program with Abu Dhabi-style pathways for superyacht owners and the ultra-wealthy.
The Saudi Premium Residency program approved 8,000 residents in 2024. Real estate agent Mohammed AlWahhabi said foreign residents seeking “stability and freedom” are driving the surge.
Anastasia Barna says the old rules pushed people out. Mahmoud Elwakil says the new ones finally let them in.
While the UAE leads with its Golden Visa, other GCC nations are quickly catching up with competitive investor residency pathways.
You can now obtain residency in Saudi Arabia based on investment, proven financial means, skills, or startup financing.
From black gold to golden visas: Saudi Arabia wants to cut reliance on oil and capitalize on its 12 million foreigners by offering them permanent residency.