Saudi Arabia plans to expand the scope of its high-end residency program to attract ultra-high-net-worth individuals.

Saudi Arabia is considering expanding the scope of its premium residency program to include more groups such as high net worth individuals and owners of super yachts in order to attract more talent and capital. According to sources and documents seen by the media, the program may be open to individuals with a net worth approaching $30 million. High net worth individuals may need a recommendation from the Saudi investment department. Owners of large yachts, high-performing students, and entrepreneurs in a wider range of fields may also be invited to apply. Sources say the new regulations could be announced as early as April, but a final decision has not been made. These potential adjustments would expand the existing high-end residency program, which currently targets specific types of executives, entrepreneurs, and researchers. Obtaining a high-end residency status typically includes benefits such as reduced business fees and easier access to property ownership.