Saudi Arabia weighs expanding premium residency programme to lure wealthy

SPA

RIYADH, Jan 29, 2026 (Saudi Arabia Breaking News) – Saudi Arabia is drafting plans to expand its premium residency programme to a wider range of people, including superyacht owners, residents of flagship development projects and top students, Reuters reported, citing a person with direct knowledge of the matter.

The deliberations have not been finalised and form part of efforts to attract foreign capital and visitors under Crown Prince Mohammed bin Salman’s Vision 2030 plan to diversify the economy away from oil and transform society, the person told Reuters.

People purchasing real estate at Vision 2030 construction projects, including Riyadh’s $60 billion Diriyah development, could become eligible, the person said.

The plans could also extend premium residency to ultra-wealthy visitors who moor superyachts in Saudi waters, in a move aimed at encouraging tourism to new luxury Red Sea resorts, while high-achieving students may be included, the person said.

Premium residency is currently available under varying criteria. An online brochure marketing the programme lists executives earning more than 80,000 Saudi riyals ($21,300) per month and specialised health and science professionals earning more than 35,000 riyals per month as eligible categories.

Benefits include entry without a visa, the ability to work and the ability to extend premium residency status to family members.

The Saudi Premium Residency programme did not immediately respond to emailed questions from Reuters.

The move would be the latest step to make the kingdom more attractive to foreign visitors. Saudi Arabia has already implemented rules granting premium residency to anyone purchasing property worth more than $1 million.

Since Jan. 22, non-Saudis have been allowed to own residential and commercial property in certain parts of the kingdom, though regulations have not yet been fully rolled out, Reuters reported.