Saudi Arabia Eyes Ultra Wealthy Residents With 30 Million Dollar Net Worth Push
Saudi Arabia Considers Expanding Premium Residency Program to Ultra-Wealthy Individuals
Saudi Arabia is weighing an expansion of its premium residency program to attract ultra-wealthy individuals, including those with a net worth of at least $30 million and owners of luxury assets such as super yachts, according to a report cited by Bloomberg.
The potential expansion reflects the Kingdom’s ongoing effort to reposition itself as a global destination for investment, talent, and high-net-worth individuals as it accelerates economic diversification under its Vision 2030 agenda.
According to hokanews, the move signals a strategic shift in how Saudi Arabia seeks to compete with established global hubs for wealth and capital.
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| Source: XPost |
A New Chapter for Saudi Residency Policy
Saudi Arabia launched its premium residency program, often referred to as a “golden visa” alternative, to allow foreign nationals to live, work, and invest in the Kingdom without the need for a local sponsor.
The program marked a significant departure from the country’s traditionally restrictive residency system and was designed to attract professionals, entrepreneurs, and investors.
Expanding eligibility to ultra-wealthy individuals would represent another step toward opening the Kingdom to global capital and lifestyle investment.
Hokanews reports that policymakers see residency reform as a critical tool for long-term economic transformation.
Targeting the Ultra-Wealthy
Under the proposed expansion, Saudi Arabia would seek to attract individuals with a net worth of $30 million or more, a demographic that includes global investors, business magnates, and owners of high-value assets such as private jets and super yachts.
These individuals often bring not only capital but also international networks, business expertise, and influence.
Countries around the world have increasingly competed for this segment by offering residency or citizenship programs tied to investment or wealth thresholds.
According to hokanews, Saudi Arabia’s consideration of this approach reflects intensifying global competition for mobile capital.
Why Saudi Arabia Is Making the Move
The Kingdom’s push to attract ultra-high-net-worth individuals aligns closely with Vision 2030, the ambitious reform program aimed at reducing dependence on oil revenue.
Diversification efforts focus on sectors such as tourism, finance, technology, entertainment, and real estate. Wealthy residents could play a role in accelerating development across these areas.
Luxury tourism, in particular, has emerged as a priority, with mega-projects such as NEOM, the Red Sea development, and Diriyah positioned to attract global elites.
Hokanews notes that premium residency could support these projects by encouraging long-term presence rather than short-term visits.
Global Context of Golden Visa Programs
Saudi Arabia is not alone in pursuing wealthy residents. Countries including the United Arab Emirates, Portugal, Singapore, and several Caribbean nations have introduced or expanded residency programs targeting high-net-worth individuals.
These programs often offer tax advantages, lifestyle benefits, and access to global business opportunities.
Saudi Arabia’s potential expansion would place it more directly in competition with these established destinations.
According to hokanews, the Kingdom’s scale, investment capacity, and strategic location could give it a competitive edge if regulatory and lifestyle factors align.
Lifestyle and Regulatory Considerations
Attracting ultra-wealthy individuals requires more than favorable residency terms. Lifestyle factors such as education, healthcare, safety, and cultural openness play a significant role in relocation decisions.
Saudi Arabia has made notable social reforms in recent years, including expanded entertainment options and eased restrictions on daily life.
However, legal frameworks, tax policies, and clarity around asset ownership remain key considerations for potential residents.
Hokanews reports that authorities are aware that residency reform must be accompanied by broader regulatory alignment to succeed.
Economic Impact and Investment Potential
High-net-worth residents can contribute significantly to local economies through direct investment, philanthropy, and consumption.
Real estate, private equity, and venture capital are among the areas where wealthy individuals often deploy capital.
Saudi officials have emphasized that attracting long-term residents could help anchor investment domestically rather than relying solely on external inflows.
According to hokanews, the premium residency program is viewed as a catalyst for sustainable capital formation.
Luxury Assets and Super Yacht Owners
The reported inclusion of super yacht owners highlights Saudi Arabia’s ambition to position itself as a luxury lifestyle destination.
Coastal developments along the Red Sea and Arabian Gulf are designed to accommodate high-end tourism and maritime activities.
By targeting yacht owners, the Kingdom could stimulate demand for marinas, hospitality services, and related infrastructure.
Hokanews notes that this focus aligns with broader efforts to develop luxury tourism ecosystems.
Confirmation From Industry Observers
The potential expansion of the premium residency program has been highlighted by the X account of Whale Insider, a widely followed source for macroeconomic and geopolitical developments. The confirmation has helped draw attention to the policy discussion.
As with standard media practice, hokanews references this confirmation as supporting context rather than as a primary source.
Balancing Openness and National Priorities
While attracting wealthy foreigners offers economic benefits, Saudi Arabia must balance openness with domestic priorities.
Public perception, social integration, and equitable development remain important considerations.
Policymakers have emphasized that residency programs are designed to complement national development rather than replace domestic participation.
According to hokanews, this balancing act will shape how far and how fast reforms move forward.
Market and Regional Implications
If implemented, the expanded program could influence regional competition for wealth. Neighboring Gulf states have already positioned themselves as hubs for global investors and expatriates.
Saudi Arabia’s entry into this space at scale could reshape regional dynamics.
Hokanews reports that investors and advisory firms are closely watching for official announcements and program details.
What Happens Next
Saudi authorities have not yet announced final terms or a timeline for the potential expansion. Any changes would likely be introduced gradually and accompanied by regulatory guidance.
Stakeholders will be looking for clarity on eligibility criteria, fees, tax treatment, and rights associated with premium residency.
Hokanews will continue to monitor developments as policy discussions evolve.
Conclusion
Saudi Arabia’s consideration of expanding its premium residency program to ultra-wealthy individuals marks another step in its economic transformation.
By targeting high-net-worth individuals and luxury asset owners, the Kingdom aims to attract long-term capital, expertise, and global influence.
If implemented, the move could strengthen Saudi Arabia’s position as a competitive destination for global wealth in a rapidly changing world.
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Writer @Ethan
Ethan Collins is a passionate crypto journalist and blockchain enthusiast, always on the hunt for the latest trends shaking up the digital finance world. With a knack for turning complex blockchain developments into engaging, easy-to-understand stories, he keeps readers ahead of the curve in the fast-paced crypto universe. Whether it’s Bitcoin, Ethereum, or emerging altcoins, Ethan dives deep into the markets to uncover insights, rumors, and opportunities that matter to crypto fans everywhere.
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