RIYADH: Saudi Arabia’s cabinet approved the “Privileged Iqama” residency scheme on Tuesday, which allows expatriates to live and work in the Kingdom without the need of a local sponsor (Kafeel) for the first time.
Plans for the scheme were discussed and rubber-stamped earlier this month by the Shoura Council.
The new Privileged Iqama system offers benefits to highly skilled expatriates and owners of capital funds.
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The new residency scheme — commonly referred to as the Saudi “green card” — was first mentioned by Crown Prince Mohammed bin Salman nearly three years ago as part of the ambitious Vision 2030 plan to open up the kingdom and diversify its economy.
It will give any expatriate who pays the required fee the right to live, work and own business and property in the Kingdom.
Those eligible will be able to choose between an annual renewable option or permanent residency, with indefinite leave to remain in exchange for a higher, one-off
