Saudi 'green card' to allow expats to own property, start business in kingdom

The Saudi cabinet is deliberating over a proposed scheme to issue 'Privileged Iqamas' to expatriates that would allow them to become permanent residents, own properties and start businesses in the kingdom without the need of local sponsors called kafeelArab News reported.
It is pertinent to mention here that in the existing system, expatriates cannot start a business without a kafeel, who is required to have a sizeable share in the venture, which often leads to monetary disputes.
If the new scheme goes through, those on visit visas will also be spared from the hassle of visiting embassies every few months to get extensions.
The Privileged Iqama, or the Saudi 'green card', could also benefit the nearly 2.7 million Pakistanis living in Saudi Arabia who "remit nearly $6 billion from Saudi Arabia every year", Arab News stated.
"The biggest beneficiaries of the new scheme will be the Pakistanis who have been living there [and] are aware of their language... they can invest in small and medium-sized businesses and employ other Pakistanis without relying on local partners,” Rizwan-ul-Haq, a former ambassador to Saudi Arabia, told the publication.
"If mid-to-large scale businesses are assured of legal rights and a conducive environment, they would definitely move to Saudi Arabia. The educational and hospitality sector can boom."
Those applying for the Privileged Iqama will have to pay a higher one-off fee; have a valid passport and a clear criminal record; be financially solvent and possess authentic credit and health reports.
The scheme awaits the cabinet's approval three years after Saudi Crown Prince Mohammed bin Salman first proposed it.

COMMENTS

Name

Accident Accounts Adventure Afghanistan Agriculture AID Aircraft Airport Animals Archaeology Army Arson Article Assistance automobile Aviation Bangladesh Banks belief birds Blast Budget Bureaucracy BUSINESS Calamity Cargo case celebration charity Child Labour Child trafficking Chinese Christian civic Clash Cleanliness Climate collapse Commerce Communication Condemnation Conflict Corpses Corruption Court crash Crime crimes culture currency Cyber crime Deaths Defence Department Derailment Development Development And Industry Devotees Devotion Diplomacy Diplomat disaster Dispute Drugs Earthquake Economy Education Election Electricity Embassy Embezzlement Employment Energy Entertainment Environment Excavation Execution exhibition Expert Explosion export Extremism Facility Family Famine Fashion felciation festival Fighermen Finance fire flood Food Food/Agriculture food/health Footwear Foreigners Forests Fortune fraud Freight Fruit Fuel FUNERAL Game Gas Governance Hajj handicapped HANG Hate monger Health Hiousing History hobby Homes Hotel Human Rights Hunting Immigration India Indian Election Industry Infotainment int International internationl Invention Investment journalist judgement Judiciary justice Kashmir KIDNAPPING kiln labour Landslide language Lawyers Legislation Leisure Lifestyle lightning literature Loan loans Local Manifesto Martyrs Matrimony Media Medical Medicines Migrants Minorities MIRACLE mis mishap mishaps Misssing Monetary Money Laundering Moon Mosque Murder Muslims n NAB Narcotics National Nature obituary Oppotunity Organisations Overseas pakistani Paliament Parents PEMRA Petroleum Pilgrims pipeline PIR Police Politician POLITICS pollution Post poverty power Priest Prison prisoners Probe project Properties Proscribed Protest Railway Real Estate Redcross Release Religion relion Rescue Reservoir Reunion Revenue Rivalry Satellite Science Seafood Security Sentence Services shemales Sikh Community smoking smuggling Social Social Media Social Welfare Soldiers Space sports strike Students Suicide Suicide Attack Taxation Technology telecom Terrorism Tobacco Tourism Trade Trade Union Traditions Tragedy Training transgender Transport Travel Tyranny Usury Vacancies vehicle vendetaa Visa water Weapons weather wedding Wikileaks Wildlife woman Women Women trafficking Workers Working class Writers youth
false
ltr
item
South Punjab News : Saudi 'green card' to allow expats to own property, start business in kingdom
Saudi 'green card' to allow expats to own property, start business in kingdom
If the new scheme goes through, those on visit visas will also be spared from the hassle of visiting embassies every few months to get extensions.
https://4.bp.blogspot.com/-YGRJOdQfftk/XNwzmPMc1lI/AAAAAAABHVI/8469oMfJD0o_nh8HfZGil4VP5xUCtFCogCLcBGAs/s320/ksa-0.jpg
https://4.bp.blogspot.com/-YGRJOdQfftk/XNwzmPMc1lI/AAAAAAABHVI/8469oMfJD0o_nh8HfZGil4VP5xUCtFCogCLcBGAs/s72-c/ksa-0.jpg
South Punjab News
https://www.southpunjabnews.com/2019/05/saudi-green-card-to-allow-expats-to-own.html
https://www.southpunjabnews.com/
https://www.southpunjabnews.com/
https://www.southpunjabnews.com/2019/05/saudi-green-card-to-allow-expats-to-own.html
true
949454145819430215
UTF-8
Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy