Here’re eligibility criteria for property owner residency

Logo of Premium Residency 

Saudi Arabia launched today, Jan. 10, five premium residency products, including the "property owner" residency for those seeking to obtain premium residency and settle in the Kingdom.

The eligibility criteria for the property owner residency includes owning or benefiting from property assets worth no less than SAR 4 million in Saudi Arabia. As for the new home property, it must not be mortgaged and shall not be mortgaged after obtaining residency.

Also, the property’s ownership must not be through mortgage and its type must be residential only. The property should be ready for dwelling and not from developed or undeveloped lands.

The applicant should also obtain an approved assessment of the value of the property asset, issued by appraisers accredited by the Saudi Authority for Accredited Valuers (Taqeem).

The property owner residency is linked to owning or utilizing the property, as the financial compensation is SAR 4,000.