Saudi Arabia Golden Visa
The government of Saudi Arabia has introduced a ‘Golden Visa’ for permanent residence. Under this Golden Visa, wealthy foreigners living in Saudi Arabia will have the opportunity to stay in the country permanently. In the beginning, 60 expatriates got this visa at present. They can stay in the country as they wish. In the last few days, Saudi Arabia has started issuing Golden Visas to them. Thousands of expatriates applied to enjoy this lucrative facility. A few expatriates have already been selected from among them.
However, in order to get a permanent Golden Visa from Saudi Arabia, they have to pay 6 million riyals (US 2.13 million). If you want to be a permanent resident for one year, you have to pay one lakh riyals (26,600 US dollars), which can be renewed later. Saudi Arabia has made this decision with the aim of a slightly different trade outside the oil trade. Golden Visa-enabled investors will be able to conduct business there independently.
Golden Visa for permanent residence
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The number of states issuing golden visas is increasing day by day. The United Kingdom was the first to offer this facility in 2006. As of September 2017, many investors from China, Russia, and India have been able to become permanent residents of the country through Golden Visa. However, in early December last year, England canceled the visa system. They said that this measure was taken without giving a chance to the owners of black money.
investor visa Saudi Arabia
At least four countries in Thailand, Latvia, and the European Union are offering special Golden Visa benefits. Any rich person can buy permanent citizenship of those countries if he wants. As a result, the language skills or the complexities of being a resident are no longer there. You can stay in the desired country only for money.
Golden Visa was also introduced in Montenegro last month. If you want to get a golden visa there, it will take about one billion US dollars in the first three years. If anyone wants to stay in Panama, they have to invest only 60 thousand US dollars. But the condition is the same, the investment must be made in their teak wood factory.
KSA Golden visa application
But the UK’s Golden Visa rules were quite strict. Citizens outside the EU are required to add two million euros (৬ 2.8 million) to their economy in order to obtain a visa.
However, according to an international organization, many criminals and black money owners are seizing golden opportunities like Golden Visa to hide. In this way, the criminals are getting out of reach. It is also found that more than 90 percent of Golden Visa applicants are involved in some form of serious crime. Despite all these controversies, the popularity of Golden Visa is increasing day by day. On the one hand, just as the visa-issuing countries are benefiting, on the other hand, the dreams of the rich are being fulfilled.