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The Kingdom of Saudi Arabia is set to implement a significant policy change that will grant permanent residency, commonly referred to as “lifetime” residency, to foreigners who invest in real estate within the country. This initiative requires a minimum property investment of 4 million Saudi riyals (approximately 1 million US dollars) and marks a historic shift, allowing full freehold ownership for foreigners for the first time.
This new regulation is scheduled to take effect on January 28, 2026, and will apply to approved real estate projects within designated areas. The move is part of Saudi Vision 2030, a comprehensive reform plan spearheaded by Crown Prince Mohammed bin Salman, aimed at diversifying the economy and attracting foreign investment to reduce the kingdom’s reliance on oil revenues.
The introduction of permanent residency for property investors is expected to stimulate the real estate market and enhance the overall investment climate in Saudi Arabia. By offering this incentive, the government hopes to attract affluent individuals and families looking for long-term residency options, thereby promoting economic growth and development.
This policy aligns with broader efforts under Saudi Vision 2030 to create a more attractive business environment, enhance the quality of life, and promote tourism. The initiative also reflects a commitment to modernization and openness, as the kingdom seeks to integrate more fully into the global economy.
For further details and updates on this policy, you can refer to official announcements from the Saudi government and news outlets covering developments related to Saudi Vision 2030 and foreign investment laws.