Saudi becomes latest country to issue golden visas
Seventy-three more people can now live in Saudi Arabia for as long as they like, as of Monday, when the Middle Eastern country launched its new “premium” residency program.
The recipients, selected from thousands of applicants, will pay 800,000 riyals (£170,723) for the right to permanent residency, or 100,000 riyals (£21,340) for a renewable one-year permit.
The visa allows these extra-special investors, doctors, engineers, and financiers to purchase property and do business freely in the kingdom, as part of the country’s long-term attempts to diversify away from oil.
“Golden visas,” as they’re sometimes known, are becoming more and more common. The world’s borders may be closed to most migrants and refugees, but they’re wide open for those with the ability to pay...