In recent years, Saudi Arabia has been taking bold steps to attract investors, entrepreneurs, and global talent as part of its Vision 2030 initiative. One of the most significant developments in this effort has been the introduction of the Premium Residency Permit, commonly known as the Premium Iqama.
At IIBS, we believe that understanding this opportunity is crucial for businesses and individuals seeking to establish a long-term presence in the Kingdom. Here’s a closer look at what the Premium Iqama offers and why it might be the right choice for you.
What is the Premium Iqama?
The Premium Iqama is a special residency status that grants expatriates the ability to live, work, and invest in Saudi Arabia with greater independence compared to traditional sponsorship-based residency. It eliminates the need for a local sponsor (kafeel), offering a more flexible and empowering approach for foreign professionals and investors.
Key Benefits of the Premium Iqama
– Freedom to Live and Work Anywhere – Holders can move freely within the Kingdom without restrictions tied to an employer.
– Ownership Rights – Eligibility to own real estate (excluding Mecca and Medina), start and run businesses, and invest in various sectors.
– Family Sponsorship – Easier family residency and visa processing, making it ideal for long-term relocation.
– Multiple Entry & Exit – Travel in and out of the country without the usual exit/re-entry permit requirements.
– Long-Term Stability – Options for renewable annual residency or a one-time permanent residency.
Who Can Apply?
The Premium Iqama targets:
• High-net-worth individuals seeking to invest in Saudi Arabia
• Business owners and entrepreneurs planning to establish operations
• Senior executives and skilled professionals wanting greater flexibility
• Families who wish to settle long-term in the Kingdom
How IIBS Can Help?
At IIBS, we specialize in guiding businesses and individuals through every step of the process — from eligibility assessment to documentation and submission. Our consultants provide expert advice on:
• Determining the most suitable type of Premium Iqama (annual or permanent)
• Preparing financial and legal requirements
• Navigating the online application system
• Setting up businesses and investments after approval
With our in-depth knowledge of Saudi regulations and business environment, we make the process simple, smooth, and compliant.