Those expatriates having desire to become permanent resident of Kingdom of Saudi Arabia for them a Good News, that Saudi Government now Planing to offer Green Card to Expats Yes Green Card same word which you hear mostly for USA permanent residence. Deputy Crown Prince Mohammed bin Salman told in interview at Bloomberg “We are Planning to introduce new cards that were similar to US green cards, this system charge companies a fee for hiring workers from foreign countries from this we able to raise non oil revenue estimated of 10 billion each year.”
This new system is a part of Non-oil Revenue Boost Program from which KSA will be able to generate additional $100 billion per year by 2020 the money is come from 30$ billion Subsidy Reform, $10 Billion Green Card like programs, $10 Billion fees(from exceeding foreign worker quotas), $10 billion Value added tax, and $40 billion from other measures.
The system is really Good form those who were residing in Saudi Arabia and working here from 40 years. As it is also a news that holder of this Green Card don’t have to work under sponsorship. Also this make KSA more strong among other countries in Arab world that don’t give this Green card systems.
What Benefits you may Get by Green Card:
Existing Sponsorship systems and muqeem card may abolished.
This will boost confidence of employees who work in KSA hence boost their efficiency and work ability.
Foreigner having Green Card will be able to give Zakat and other tax just as Saudi Citizens.
This will integrate Green Card holder with Saudi economy and opens more opportunities for both KSA and Businesses.
This system allow the holder to buy property in KSA, starting business, trading, industry, and new firms.
NOTE: This system is in study phase this just a news and all the term were told by Deputy Crown Prince Mohammed bin Salman in interview with Bloomberg.
What is US Green Card:
In united states Green Card is a lawful document which give a person right of residency, living and working. It was called Green Card due to its color which in first Green form 1946 until 1964 and few years ago on may 11 2010 it was again reverted to Green color. Immigrants with this card can live and work in country permanently. The validity of this card is 10 years and after renewal holder may be granted with US citizenship.
This move by Deputy Crown Prince make expats part of the Saudi Main economy and give opputuinity to workers to use their skill and expertise in the development of Kingdom. Every expatriates after becoming part of the Kingdom work more harder and contribute his life in the welfare of state.