Saudi: Permanent and Fixed-Term Premium Residency With Waiving Age Limit of 21
A royal decree was issued to amend Saudi Arabia’s Premium Residency Law.
According to the text of the royal decree, published by the official Umm Al-Qura newspaper on Wednesday, the age limit of 21 years was waived for holding a Premium Residency and there are two types of residency namely, permanent and fixed-term.
There is no provision in the amended law for Premium Residency holders to obtain Saudi citizenship.
The newspaper reported that the definition of “family” contained in Article 1 of the law has been amended to read as follows: “Family: those supported by the holder of Premium Residency, including spouses, children, and parents, in accordance with what the regulations specify.”
Subparagraph H of Paragraph 1 of Article 2 was also amended, to read as follows: “The freedom for him or any of his family members or all of them to leave the Kingdom and return to it without requiring a visa.”
Paragraph 2 of Article 2 has also been amended to read as follows: “The regulations shall determine the rights, benefits, and other duties, and the provisions regulating what is stated in this article, in a manner that does not conflict with the regulations that are in force in the Kingdom.”
Article 3 of the law was amended to specify the distinct types of residency to permanent or fixed-term.
The types of Premium Residency referred to in Paragraph 1 of Article 3 also have products proposed by the Council, including the financial compensation it deems appropriate to collect for them as it is issued by a decision of the Council of Economic and Development Affairs.
The regulations specify the procedures and controls related to what is stated in this article.
Subparagraph B of Paragraph 1 of Article 4 was also canceled, which stipulated the following: “The applicant’s age must not be less than 21 years.”
The amendments included amending Article 5 of the law to read as follows: “The Premium Residency Center will study the application, after completing the requirements referred to in Article 4 of the law, to consider approval — unless the interest requires otherwise — to grant the applicant Premium Residency, and it will be issued by a decision from head of the center, in accordance with the provisions contained in the law and its regulations.”
The Official Gazette indicated that subparagraph A of Paragraph 1 of Article 6 was amended to read as follows: “Payment of the financial compensation approved by the Council of Economic and Development Affairs.”
It stated that Paragraph 3 of Article 6 had been amended to read as follows: “The regulations determine taking into effect of the Premium Residency and the procedures necessary for its issuance.”
According to the amendments, Article 8 has been canceled, which stipulates the following: “The holder of Premium Residency is considered as a resident for the purpose of applying other statutory provisions, especially tax provisions, regardless of the period he spends outside the Kingdom during the year.”
Paragraph 1 of Article 10 was also canceled, which stipulated the following: “The rights and benefits granted to the holder of Premium Residency shall be in accordance with the law exclusively.
Paragraph 3 of Article 10 was amended, to become the following text: “With the exception of the rights and benefits stipulated in the law and regulations for the holder of Premium Residency and his family, all laws, regulations, and instructions that apply to a non-Saudi resident would apply to him and his family.”
Paragraph 2 of Article 11 was also canceled, which stipulated the following: “Premium Residency does not entitle its holder to the right to obtain Saudi citizenship.”
