Premium Residency

Premium Residency - sometimes called the Saudi Golden Visa - is a residence permit introduced by Saudi Arabia as part of its Vision 2030 reform programme. Unlike the standard iqama, which ties a foreign national to an employer sponsor and requires regular renewal, Premium Residency gives holders a degree of independence closer to permanent residency status in other countries. Holders can live, work, and do business in Saudi Arabia on their own terms, and are permitted to own property and vehicles directly.\n\nThe programme offers two tiers. A temporary Premium Residency permit is available from SAR 100,000 (approximately USD 27,000), while permanent Premium Residency requires an investment threshold starting at SAR 800,000 (approximately USD 215,000). Eligible applicants include investors, entrepreneurs, and skilled professionals meeting criteria set by the relevant Saudi authorities. Family members of the primary applicant can typically be included.\n\nBecause Premium Residency removes the sponsorship requirement, it materially changes an expat's legal and financial position inside the Kingdom. Consult a qualified cross-border adviser and refer to the official Saudi Premium Residency portal for current eligibility categories, documentation requirements, and fee schedules before applying.

For English-speaking expats currently on a standard iqama, Premium Residency may alter residency continuity, tax-treaty position, and the question of where your habitual abode is considered to be. If you are a UK national, HMRC applies the Statutory Residence Test (set out in Schedule 45 of the Finance Act 2013) to determine UK tax residency. The number of days spent in the UK and the nature of your overseas residence - including whether it is tied to employment or is self-directed - are relevant factors. Holding a sponsor-independent residence permit could affect how your overseas ties are assessed. Consult a qualified cross-border adviser before treating any residency change as conclusive for tax purposes.\n\nFor US nationals, the IRS taxes on worldwide income regardless of residency status (Internal Revenue Code Section 61). Premium Residency does not alter US filing obligations. Saudi Arabia does not currently have a comprehensive income tax on individuals, which is a relevant consideration for expats planning long-term stays, but tax positions across jurisdictions can be complex. Always seek advice from a qualified tax adviser familiar with both Saudi and your home-country rules. This article is not tax advice.