Would you like to have your watchlist on all your devices? Log in or register for free.
Saudi Arabia Considers Premium Residency for Superyacht Owners
Saudi Arabia is weighing plans to extend its premium residency programme to superyacht owners, a move aimed at attracting ultra-wealthy visitors and encouraging longer stays at the kingdom’s emerging luxury Red Sea resorts under Vision 2030.
Offering premium residency to individuals who moor superyachts in Saudi waters would support the country’s growing investment in high-end marinas and coastal destinations, including NEOM, Amaala and the Red Sea Project, as Saudi Arabia positions itself as a new hub on the global yachting map.
The proposed expansion could also apply to buyers of real estate within Vision 2030 developments, such as Riyadh’s $60 billion Diriyah project, as well as high-achieving international students.
Premium residency is currently available under set criteria, including for executives earning more than 80,000 Saudi riyals ($21,300) per month and specialised health and science professionals earning over 35,000 riyals per month. The plans are still under consideration.
