Saudi premium residencyPotentially offering premium residency to ultra-wealthy individuals who moor superyachts in Saudi Arabia’s waters appeared aimed at encouraging visitors to the new luxury Red Sea resorts. Premium residency is currently available based on varying criteria. Benefits include entry without a visa, the ability to work and the ability to extend premium residency status to family members. Saudi residency reformsThe Saudi Premium Residency program did not immediately respond to emailed questions from Reuters. The kingdom has already implemented rules affording premium residency to anyone purchasing a property worth more than $1m.