Saudi Arabia Sets 4,000 SAR Fee for Gifted Residency Permit

The Saudi government has announced a one-time fee of 4,000 SAR (around ₦560,000) for foreigners seeking the Gifted Residency permit, as detailed on its official Premium Residency portal. This initiative is designed to attract talent from cultural and artistic sectors, facilitating knowledge exchange and integrating skilled foreigners into Saudi Arabia's professional landscape.

The Gifted Residency is initially valid for five years and can be renewed once, provided holders meet eligibility criteria, including spending at least 30 months in the country during the five years. There is also a pathway to permanent residency, requiring continuous eligibility and a formal endorsement from either the Ministry of Culture or the Ministry of Sports.

Unlike other residency options that involve recurring fees, this permit requires only a single payment at application. The Saudi government has been expanding its Premium Residency offerings as part of its Vision 2030 agenda, which aims to diversify the economy and position the Kingdom as a global hub for talent, tourism, and investment.