Saudi Arabia’s green card plan for expats welcomed

April 7, 2016

Riyadh, Apr 7: Saudi Arabia’s plan to issue permanent residence or “green cards” to foreign workers has been warmly welcomed by the expatriate community.

SaudiIn an interview with Bloomberg, Deputy Crown Prince Mohammed bin Salman disclosed plans for issuing such cards similar to the US green card system that allows hiring more foreign workers for a fee.

The plan will abolish the existing sponsorship system for holders, who will be required to pay zakat and value-added taxes, if any, besides premiums on insurance, etc. They can own property and undertake commercial, industrial and related activities.

“The plan is very welcome for those living here for over 40 years. I would also suggest that naturalization be given to those who have at least one child willing to serve in the armed forces in any capacity,” said Amir Qayyum, a business development executive from India.

“This is actually in recognition of the universal human rights of residency. We are glad to see the host government extending such a privilege to deserving expats,” said John Monterona, convener of the new OFW Forces Worldwide.

A senior systems engineer at Tawuniya, Saleh Ampaso Bucay, who has been working here since 1992, described the move as a dream come true.

“I am just like many other expatriates who have spent more than half of their lives in this country. All my children were born here. So it is really a great honor if this privilege of either permanent residence or a green card is granted to us,” Bucay observed.

He added that as a Muslim, it will also be a great opportunity to work hand in hand with the citizens in developing the country and protecting it from the enemies of Islam. “I love this country and would like to die and be buried here,” he said.

Gilbert G. Alarcon, senior ISO system auditor at Dar Arriyadh Consultants, said it is a good development as expats already consider Saudi Arabia their second home. “The feeling of acceptance in retrospect gives more meaning to an already fruitful partnership and cooperation between the citizens and expats.”

Rey Eduard Quiblat Umel, an architect and a project engineer, termed King Salman’s wisdom and vision “very exemplary.” The Saudi-Philippine partnership will increase by leaps and bounds, boosting the development of their peoples, he said.

“This will also help the Kingdom’s economy and increase its revenues. It will bolster their manpower without relying on oil,” said Jehad Zacaria Pangcoga, from the Philippines.

Comments

SALMAN
 - 
Thursday, 21 Apr 2016

Really its great news and happiest moment for me even though iam not in saudi. Really i appreciate the king's decision.

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News Network
March 16,2020

Cairo, Mar 16: Saudi crown prince Mohammed bin Salman said G20 summit will work to combat coronavirus and coordinate efforts to ease its economic burdens, state news agency SPA said on Sunday.

In a phone call with British Prime Minister Boris Johnson, Salman discussed international efforts to fight the flu-like disease, saying the next G20 summit, which will be hosted by the Kingdom, will work on finding medical solutions, SPA added.

The G20 Summit is an annual gathering of representatives of the world's largest economies.

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News Network
April 25,2020

Riyadh, Apr 25: Saudi Arabia announced nine deaths and 1,197 new cases of the COVID-19 virus on Saturday.

Of these cases, 120 were recorded in Madinah, 364 in Makkah, 271 in Jeddah, 170 in Riyadh and 43 in Dammam.

The number of people who had recovered from the coronavirus in the Kingdom increased to 2,214 after 165 patients were reported to have recovered.

A total of 136 people have died of the disease in the Kingdom so far.

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News Network
January 12,2020

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

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