Saudi to charge foreigners ₹1.48 crore for permanent residency

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Saudi Arabia will charge 800,000 riyals (nearly ₹1.48 crore) to grant permanent residency to foreigners, while the one-year renewable residency programme will cost nearly ₹18.5 lakh. The programme will allow expatriates to own property and do business without a Saudi sponsor, among others. The programme is designed to attract foreign investment to the kingdom.