Saudi Arabia is weighing an expansion of its premium residency program to draw in a wider class of wealthy investors and top-tier talent, including high-net-worth individuals and super yacht owners.
The kingdom may allow applications from individuals with net worth of around $30 million, Bloomberg reported on its website. The changes could be unveiled as early as April, though officials have not made a final decision, according to the report.
It comes as the kingdom rolls out sweeping market reforms. Saudi Arabia opened its real estate sector to foreign buyers on January 22, and from February 1 global investors will be able to trade directly in its stock market without special eligibility requirements.
The move is part of Saudi Arabia’s broader push to diversify its economy, boost foreign investment and compete more directly with Dubai and Abu Dhabi, which have become major hubs for hedge funds, private equity firms and global financial powerhouses.
📌 Why it matters:
- By widening access to long-term residency for ultra-wealthy individuals, Saudi Arabia could unlock significant capital inflows, accelerate economic diversification and strengthen its competitiveness as a global business hub.
📌 Bottom line:
- The kingdom is shifting from short-term investment attraction to courting long-term, high-value residents as it races to reshape its economy and rival regional financial centres.
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