What does the change mean? Among the proposals related to immigration, the government would introduce sector-based special zones, including a financial special zone with visa exemptions, and would build a more robust tourism sector with improved visa procedures for visitors. The deputy crown prince has also publicly announced that a residency permit systemsimilar to the U.S. green-card system will be developed within five years.
- Implementation time frame: The plan will be implemented in phases over the next 15 years.
- Who is affected: Foreign nationals seeking to visit, invest in or work in Saudi Arabia.
- Impact on processing times: The plan calls for improving visa procedures for visitors. Also, a visa exemption has been proposed for a special zone in a restructured King Abdullah Financial District that will be connected to the international airport.
- Business impact: The changes are expected to have a positive impact on business by attracting direct foreign investment.
- Next steps: Details of the proposals have yet to be released.
