The Kingdom of Saudi Arabia has been taking steady and strong steps towards achieving the goals of vision 2030. They’re diversifying their economy, getting ready for the post-oil economy, giving more rights to women, and drastically improving the tourism and entertainment sectors.
One headline after another, Saudi Arabia is announcing policies that show their new face.
The Consultative Assembly of Saudi Arabia just approved a draft law regulating the issuance of residence permits for highly-skilled and wealthy foreign nationals without the need for a sponsor. The new law can definitely attract foreign investors and entrepreneurs. The Shura Council approved the initiative that will be similar to the Green Card in the United States.
It is expected that eligible foreign nationals will be able to obtain a residence permit for up to one-year, which will be renewable or for an unlimited period of time. People with that permit will be able to sponsor visitor visas for their relatives, employment visas for domestic workers, as well as own property and travel without restrictions from and to Saudi Arabia.