If you are looking forward to settle in Saudi Arabia, here is some good news for you.
Local media report that Saudi Arabia plans to introduce a green card system, that is to say permanent residency in the Kingdom over the next five years. This plan was recently announced by Prince Mohammed bin Salman.
Permanent residency's main goal is to attract more foreign investment while allowing the recruitment of a larger number of expatriates, against fees. According to this plan, sponsorship will no longer be required to work in Saudi Arabia.
However, holders of the green card will be charged with "zakat" and value-added tax if applicable, besides insurance premiums, etc. They will also be allowed to buy real estate properties and engage in commercial, industrial or other related activities.
On the other hand, permanent residents will be allowed to start a business, work in a university or other education hubs, thus contributing to the country's economy.
Find more information here : www.arabnews.com
Local media report that Saudi Arabia plans to introduce a green card system, that is to say permanent residency in the Kingdom over the next five years. This plan was recently announced by Prince Mohammed bin Salman.
Permanent residency's main goal is to attract more foreign investment while allowing the recruitment of a larger number of expatriates, against fees. According to this plan, sponsorship will no longer be required to work in Saudi Arabia.
However, holders of the green card will be charged with "zakat" and value-added tax if applicable, besides insurance premiums, etc. They will also be allowed to buy real estate properties and engage in commercial, industrial or other related activities.
On the other hand, permanent residents will be allowed to start a business, work in a university or other education hubs, thus contributing to the country's economy.
Find more information here : www.arabnews.com
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