Saudi Arabia Launches Entrepreneur Residency Programme

Saudi Arabia has announced two categories of eligibility for its entrepreneur residency programme, aimed at attracting business talent and enhancing its status as a global hub for small and medium-sized enterprises. The programme is managed by the Saudi government and seeks to provide stability and support for entrepreneurs contributing to various sectors.

The first category requires applicants to hold an entrepreneurial licence from the Ministry of Investment, secure at least one investment round of a minimum of 400,000 Saudi riyals, and maintain at least a 20% ownership stake in their company. The second category has higher thresholds, requiring an investment round of at least 15 million riyals and a minimum 10% ownership stake.

Additionally, second-category applicants must commit to creating at least 20 jobs within their first two years in Saudi Arabia. All terms of the programme are subject to change, indicating that eligibility conditions may be updated as the initiative evolves.