Saudi offers permanent residency to expats, allows them to own property

The Saudi move's biggest beneficiaries will be thousands of wealthy Arabs, some of whom resided in the kingdom for decades

Saudi Arabia approved a program that offers permanent residency for some foreigners, the latest sign of how the quest for non-oil revenue is prompting Gulf Arab countries to rethink the role of expats in their societies.

Under the law, which allows foreigners to own property, those eligible can apply for an indefinite stay or a one-year renewable residency, according to the official Saudi Press Agency. The government will detail the program’s rules within 90 days.

The announcement is a landmark move in a region where many expats are subject to some of the world’s most restrictive residency rules, including the need for