The Privileged Iqama is one scheme the whole country has its eyes on. There are many details that are still to be revealed but from whatever we know about it so far it has surely made everyone excited.
The new residency permit got approved by the Saudi Council on the 14th of May. According to online portal Al Bilad English it will be brought into effect within 90 days from the date of approval by the council.
This means that you can expect it to be available to the public by Mid–August.
The news portal has also reported that a new centre has been set up that will regulate and manage the residency permit.
Well, we don’t much about the Privileged Iqama yet, but what we do know is that there will be two types. One with unlimited validity and the other that will have to be renewed on a yearly basis.
The new Privileged Iqama system offers benefits to highly skilled expatriates and owners of capital funds, and is different to previous system as residents do not require a #Saudi sponsor or employer. pic.twitter.com/eUW2A22e9e
— Saheel Culture (@Saheel_Culture) May 14, 2019
Holders of this residency permit won’t require a sponsor nor an exit and re-entry visa.
And, of course, this residency permit will also allow its holders to buy property in Saudi.