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Saudi 'green card' to allow expats to own property, start business in kingdom
 [DAWN] The Saudi cabinet is deliberating over a proposed scheme to issue 'Privileged Iqamas' to expatriates that would allow them to become permanent residents, own properties and start businesses in the kingdom without the need of local sponsors called kafeel, Arab News reported.It is pertinent to mention here that in the existing system, expatriates cannot start a business without a kafeel, who is required to have a sizeable share in the venture, which often leads to monetary disputes. If the new scheme goes through, those on visit visas will also be spared from the hassle of visiting embassies every few months to get extensions. The Privileged Iqama, or the Saudi 'green card', could also benefit the nearly 2.7 million Paks living in Soddy Arabia ...a kingdom taking up the bulk of the Arabian peninsula. Its primary economic activity involves exporting oil and soaking Islamic rubes on the annual hajj pilgrimage. The country supports a large number of princes in whatcha might call princely splendor. When the oil runs out the rest of the world is going to kick sand in the Soddy national face... who "remit nearly $6 billion from Saudi Arabia every year", Arab News stated. Posted by: Fred 2019-05-16 |
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