Saudi Arabia Considers Premium Residency Expansion for Ultra-Wealthy
According to Bloomberg, Saudi Arabia may extend its premium residency program to individuals with net worth above $30 million, targeting super yacht owners and top-tier investors.
Summary
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Terms & Concepts
Premium Residency Program: A long-term residency initiative allowing foreigners to live, work, and own property in Saudi Arabia without a local sponsor.
Net Worth: The total value of an individual's assets minus their liabilities.
Super Yacht: A luxury yacht typically over 24 meters, owned by high-net-worth individuals.