Saudi Arabia launches special residency scheme for expats

Saudi Arabia's new residency scheme that allows foreign expats to live and work in the Kingdom without the need of a local sponsor has been launched.

The online portal to apply opened to the public on Sunday.

The scheme offers two types of residencies - a permanent one for 800,000 Saudi riyals ($213,321.96) and a one-year but renewable residency for 100,000 Saudi riyals ($26,665.24).

It will allow expats free movement, ability to own properties and to do business in the kingdom.

The residency scheme, that's similar to green card systems applicable in other countries, was approved by the Saudi cabinet last month.