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Saudi Arabia offers conditions for a privileged residency

rocky
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Saudi Arabia offers conditions for a privileged residency Empty Saudi Arabia offers conditions for a privileged residency

Post by rocky on Tue 25 Jun 2019, 1:50 am

Saudi Arabia offers conditions for a privileged residency %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9

Saudi Arabia offers conditions for a privileged residency




2019/06/24 11:41:55

[rtl](Reuters) - Saudi Arabia officially launched a new housing system yesterday, aimed at attracting wealthy businessmen and multinationals as the Gulf state seeks to halt its dependence on oil by diversifying its economy.[/rtl]
[rtl]According to the official Saudi Press Agency that the center of residence special began to receive requests for those wishing to obtain this residence through the comprehensive electronic platform "Sabrk".[/rtl]
[rtl]The new system allows for indefinite stays after paying 800,000 riyals ($ 213,000) once and for a renewable one year after paying 100,000 rials ($ 27,000) a year.[/rtl]
[rtl]The residence permit allows the holder to carry on business, in accordance with the current foreign investment system, without the need for a sponsor.[/rtl]
[rtl]The residence allows the owner to leave the country, return to it independently, own property, request visitation visas for relatives, and other facilities.[/rtl]
[rtl]Saudi Arabia does not aim to attract wealthy Arab and Muslim states, but is seeking to diversify by luring Western businessmen into the Saudi market. But the decision to stay in residence is not enough to bring in large capital.[/rtl]
[rtl]On the other hand, others believe that the regime targets the wealthy Arabs, who have lived in Saudi Arabia for many years without permanent residency, and the multinationals that have been seeking to do business in the country for a long time.[/rtl]
[rtl]The move comes weeks after the UAE granted permanent gold residency to attract investors and exceptional talent in a number of sectors that enhance the economy's ability to adapt to the pace of rapid transformations[/rtl]
[rtl]Saudi Arabia, the world's largest crude exporter, has about 10 million foreign workers. The worker is supposed to practice the profession with the sponsorship of a Saudi sponsor and to obtain continuous entry and exit visas.[/rtl]

In recent years, the country has witnessed a decline in the number of workers with the imposition of taxes on accommodation and visas, while campaigning against illegal employment led to the deportation of hundreds of thousands during the past two years.Saudi Arabia offers conditions for a privileged residency



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    Current date/time is Tue 23 Jul 2019, 6:12 pm