ISLAMABAD – Entrepreneurs and capital investors are in for good news as theKingdom of Saudi Arabia has announced a special Green Card residency schemewhere an expatriate no longer requires a Saudi employer or sponsor (Kafeel).
The step has been taken to attract more skilled expatriates and capitalfunds owners as Saudi Arabia’s Shoura Council approved the new system onWednesday.
To be eligible for the program, the expatriates need to have no criminalrecord, valid passport, health report, and a credit report. There are twocategories that require a specific fee, including a temporary Iqama and anextended Iqama.
The new system comes with a host of benefits for the Iqama holders:
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– Use of designated queues at airports – Freedom of movement and exit from the Kingdom and return – Employment in the private sector, commerce, and industry – Ownership of property and transport – Ability to recruit workers
The new system replaces the decades-old Kafala system where the residentsneeded to have a sponsor or an employer known as ‘kafeel’ during thecontract period.
