The Premium Residency Center started today receiving and processing the applications electronically and applying for the Premium Residency System, via the comprehensive electronic platform "SAPRC", the Center for International Communication (CIC) said in a statement.
The Center is looking forward to serving those who wish to obtain the Premium Residency in Saudi Arabia.
Through the comprehensive electronic platform "SAPRC", applicants can upload all the required documents and make the electronic payment allocated for the procedures. The platform provides also an overview about the system and center.
The Center offers two types of Premium Residency in Saudi Arabia: permanent premium residency for a one-time lifetime fee and temporary premium residency for an annual fee, CIC statement added.
The approval of the Premium Residency System comes to provide an opportunity for those who wish to settle or invest in the Kingdom according to the criteria set by the system.
The Center is a financially and administratively independent entity associated with the Council for Economic Affairs and Development, CIC added.
According to a Reuters report, the new premium residency scheme offers two types of residencies, a permanent one for 800,000 Saudi riyals ($213,321.96) and a one year but renewable residency for 100,000 Saudi riyals ($26,665.24).
The scheme was approved by the Saudi cabinet last month, but on Sunday the online portal to apply was opened to the public.
The residencies would allow foreign expats free movement, ability to own properties and to do business in the kingdom.
With inputs from Reuters.
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