Saudi Arabia Announces Amount Foreigners Need to Pay to Get 5-year Premium Residency, Gives Details

• Saudi Arabia announced the amount foreigners must pay to qualify for its 5-year premium residency programme
• The fee is set at 100,000 SAR, which is equivalent to roughly N35.9 million for Nigerian applicants
• Beyond the financial requirement, Saudi Arabia also listed additional criteria that applicants must meet before approval

Saudi Arabia has disclosed the financial threshold foreigners must meet to be considered for its five-year premium residency, setting the figure at 100,000 SAR (N35,953,935).

The announcement provides clarity on one of the most significant requirements in the application process for what the country is calling premium residency status, a longer-term arrangement designed for foreign nationals who wish to live in the kingdom for an extended period.

What the 5-year premium residency costs

The 100,000 SAR payment is the headline financial requirement attached to the five-year duration of the premium residency.

For Nigerian applicants eyeing the opportunity, this translates to just under N36 million at current exchange rates, placing it well beyond the reach of average earners and firmly in the territory of high-net-worth individuals.

It is worth noting that the financial requirement alone does not guarantee approval. Saudi Arabia has made clear that additional criteria must be satisfied before an application is considered complete and eligible for processing.

Other conditions foreigners must meet

Beyond paying the specified fee, prospective applicants are expected to fulfil a separate set of requirements. While the full list of those additional conditions was not detailed in the announcement covered here, Saudi Arabia confirmed that meeting the financial threshold is only one component of a broader evaluation process.

The premium residency programme reflects Saudi Arabia's continued effort to attract qualified and financially capable foreign nationals as part of its broader economic diversification drive under Vision 2030. The five-year residency option sits alongside other existing categories in the kingdom's residency framework, giving eligible foreigners a longer-term legal footing in the country without the need to renew their status annually.

Saudi Arabia lists benefits of premium residency

Meanwhile, Legit.ng recently reported that Saudi Arabia had outlined nine key benefits available to foreigners holding premium residency in the kingdom, including the right to live with eligible family members, exemption from certain expatriate fees, and the ability to leave and re-enter the country without a visa.

Premium residency holders can also issue visit visas for relatives, work and move between private-sector establishments, conduct business activities under the country's investment regulations, and own and use real estate in Saudi Arabia.