Saudi Premium Residency Program hosts workshop in Riyadh

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The workshop centered around the entrepreneur residency product (ERP) to enlighten attendees on this category's opportunities, requirements, and benefits. (AN Photo by Abdulrahman AlNajim)
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The workshop centered around the entrepreneur residency product (ERP) to enlighten attendees on this category's opportunities, requirements, and benefits. (AN Photo by Abdulrahman AlNajim)
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The workshop centered around the entrepreneur residency product (ERP) to enlighten attendees on this category's opportunities, requirements, and benefits. (AN Photo by Abdulrahman AlNajim)
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Updated 08 May 2024
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Saudi Premium Residency Program hosts workshop in Riyadh

  • The workshop also included networking and discussions on funding opportunities as well as mentorship

RIYADH: Saudi Arabia’s residency program attracting top foreign talent and investors hosted a workshop in Riyadh on Wednesday.

The Premium Residency Program, launched in 2019, draws skilled professionals, talented individuals and investors to the Kingdom through five residency categories.

It targets expatriates who wish to gain premium residency in Saudi Arabia.

The categories, announced in January, include special talent, gifted, entrepreneur, investor and real estate residencies.

The “Introduction to Premium Residency Products” at The Garage in Riyadh focused on the entrepreneur category.

The residency includes two sub-categories for entrepreneurs and innovators who contribute to the development of multiple industries in Saudi Arabia.

Category one of the entrepreneur residency provides a five-year premium residency. Applicants must obtain an entrepreneurial license from the Saudi Ministry of Investment and a letter of recommendation from the investing party.

They are required to obtain a minimum SR400,000 ($106,000) investment from a recognized organization and hold at least a 20 percent share of the startup.

After the five-year term, the entrepreneur residency will be renewed if the eligibility criteria is still met.

Category two grants a permanent residency only if the entrepreneur creates a minimum of 10 jobs in the first year and 10 or more in the second year.

The individual must demonstrate a minimum investment of SR15 million and a 10 percent ownership stake in the business.

The advantages of the entrepreneur residency include the ability to nominate two people from the applicant’s work team — such as executives — to obtain exceptional competence residencies.

Among the general benefits are owning and using real estate, issuing visit visas for relatives, and exemption from the financial fees imposed on expatriates and their companions.

Beneficiaries will be able to use the lanes designated for citizens and citizens of the Gulf Cooperation Council countries at ports across the Kingdom.

The holder of the premium residency and their family members can leave and return to Saudi Arabia without requiring a re-entry visa. They can also work in private sector establishments.

Sarah Al-Hamad, who attended the workshop, told Arab News: “I truly believe that the Premium Residency Program will drive economic growth and cultural exchange in the Kingdom for years to come.”

The workshop also included networking and discussions on funding opportunities as well as mentorship.


Saudi Arabia's Prince Faisal speaks with Iranian acting foreign minister Ali Bagheri Kani

Updated 7 sec ago
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Saudi Arabia's Prince Faisal speaks with Iranian acting foreign minister Ali Bagheri Kani

  • Kani has been the acting foreign minister since last week, following the death of his predecessor Hossein Amir-Abdollahian

RIYADH: Saudi Arabia’s Prince Faisal bin Farhan spoke on the phone with Iran’s acting foreign minister Ali Bagheri Kani on Thursday.

During the call, Prince Faisal bin Farhan and Kani discussed relations between the two countries, ways to enhance them, and regional and international developments, Saudi Press Agency reported.

Kani has been the acting foreign minister since last week, following the death of his predecessor Hossein Amir-Abdollahian, in a helicopter crash, which also killed President Ebrahim Raisi.


Saudi crown prince receives written message from Somali president

Deputy Minister for Political Affairs Saud Al-Sati receives the message from the Somali president’s special envoy Mahmoud Jeely.
Updated 6 min 21 sec ago
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Saudi crown prince receives written message from Somali president

  • The message was received on behalf of the crown prince by Deputy Minister for Political Affairs Saud Al-Sati

RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman received a written message from Somalia’s President Hassan Sheikh Mohamud concerning bilateral relations, Saudi Press Agency reported on Thursday.

The message was received on behalf of the crown prince during a meeting between the Deputy Minister for Political Affairs Saud Al-Sati and the president’s special envoy Mahmoud Tahir Jeely.

During the reception, bilateral relations between the two countries and ways to strengthen and develop them in all fields were reviewed. Topics of common interest were also discussed.


Critically ill Saudi citizen evacuated from Budapest

A Saudi citizen is evacuated from Budapest after he became critically ill. (SPA)
Updated 30 May 2024
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Critically ill Saudi citizen evacuated from Budapest

  • A Saudi citizen has also gone missing in Egypt and security services are looking for him, embassy says

RIYADH: A Saudi citizen was evacuated from Budapest and flown back to the Kingdom after he became critically ill, Saudi Arabia’s embassy in Hungary reported on Wednesday.

The evacuation was organized in coordination with the Ministry of Health and under the supervision of the Kingdom’s envoy to Hungary Majed bin Abdulaziz Al-Abdan.

Meanwhile, the Kingdom’s embassy in Cairo issued a statement on Thursday regarding the disappearance of Saudi citizen Hattan bin Ghazi Shata.

The embassy confirmed Egyptian security services continue to search for Shata in coordination with his family, and that the embassy is following his case closely.


Saudi has Hollywood’s attention, says Fame’s founder Sheeraz Hasan

Updated 16 min 16 sec ago
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Saudi has Hollywood’s attention, says Fame’s founder Sheeraz Hasan

  • ‘The buzz is Saudi,’ says media consultant
  • Crown prince's contribution to 'buzz' is praised by CEO

RIYADH: The development of the entertainment sector in Saudi Arabia has the full attention of Hollywood's executives, says Sheeraz Hasan, the founder and CEO of Fame by Sheeraz, a Hollywood-based advisory firm.

The latest guest on “The Mayman Show” by Arab News is no stranger to this region, and said: “The trend right now is Saudi Arabia. I keep hearing about Saudi Arabia, agents, managers, publicists, celebrities.

“The buzz is Saudi. So I’m out here right now. I’ve been invited by a lot of good people out here in the region.”

 

 

Hasan said that from his past experiences the Kingdom was not part of the conversation in Hollywood as a destination.

However, he added: “Now, because of the leadership and the vision of what they’re doing in Saudi Arabia, it’s hitting the boardrooms of Netflix, Apple, Disney, Hulu, all the biggest top agencies, companies, and brands.”

He added that while Hollywood was on pause because of artificial intelligence and emerging technologies, Saudi’s industries were thriving and had nothing but greener pastures ahead.

 

 

Hasan recalled that when he used to speak of the benefits of Dubai, he was met with resistance from agents, managers and decision-makers.

Now, he said: “I tell the management that stars are telling the agencies ‘I need to get out in Saudi Arabia because of the massive projects.’

“You’ve had some of the biggest events that have happened in entertainment and sports. It’s shocked the world.”

 

 

He added that these projects and the talent in the Kingdom have shown a great time can be had, and money is there to be made.

He said: “When you see all of this right now, you aren’t getting that in the US.

“The word of mouth is out there and when you’re having some of the top female talent influencers and so forth talking about it, then of course brands want to come here; companies want to come here. You’re talking about a 40-plus million market that is such a fantastic market.”

He added that Crown Prince Mohammed bin Salman had created “FOMO” (fear of missing out) moments that had benefited the Kingdom.

 

 

Hasan said: “Man, I love him. He’s Mr. FOMO. He creates so much excitement on the vision of building this.

“I’ve been in boardrooms and Hollywood and, like, flicking that thing thinking, ‘OMG, what is going on here? We are totally missing the boat here. We have got to get on’.”

Hasan and his team have been recognized multiple times for their media strategies, such as at the Agility Awards for Media Personality of the Year, and at the Virtuzone Awards where they took the honor for Media and Communications Company of the Year.

 

 

Hasan has worked with the likes of Kim Kardashian, Logan Paul, Zendaya, Paris Hilton and Ricky Martin.

Aishwarya Rai and Priyanka Chopra have said that the most successful content coming out of the region is made in Saudi, and added that it was time for Fame to educate Hollywood about the beauty of the Kingdom of Saudi Arabia.

 

 


Saudi foreign minister praises China’s support for Gaza ceasefire efforts

Updated 30 May 2024
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Saudi foreign minister praises China’s support for Gaza ceasefire efforts

  • Prince Faisal reiterated calls for an immediate and permanent ceasefire in Gaza and an uninterrupted flow of aid into the enclave

BEIJING: Saudi Foreign Minister Prince Faisal bin Farhan on Thursday praised China’s support for efforts to end the war on Gaza and push for the two-state solution.

In his address at the China-Arab States Cooperation Forum in Beijing, Prince Faisal reiterated calls for an immediate and permanent ceasefire in Gaza and an uninterrupted flow of aid into the enclave.

He called for deeper cooperation to establish a reliable and irreversible path to the two-state solution, noting that constant dialogue is crucial for achieving regional peace.

He rejected foreign interference in the Middle East and called for efforts to prevent the spread of weapons of mass destruction in the region.

China hosted a summit on Thursday focusing on the Israel-Hamas war in which Chinese President Xi Jinping promised more humanitarian aid in Gaza and called for an international peace conference.

The summit, attended by heads of state from Egypt, the UAE, Bahrain and Tunisia among others, was set to address China’s expanding trade ties and security concerns related to the Israel-Hamas war.