The special residence in Saudi Arabia canceled the sponsorship system completely



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The special residence of the Saudi Shara (Majlais) recently abolished the sponsorship system in most of the Gulf of Arabia, a long time announcement says on Friday.

Under the title "Saudi Arabia .. The first particular residence to cancel the cartridge company nothing," the website of the channel "Aruba" Saudi Arabia, the trend of the kingdom is moving to cancel the cartridge system within the system of " Special residence "approved by the Shura Council two days ago.

On Wednesday, the Shura Council approved a special residence plan, which was devised to provide residents with benefits such as staying with his family, attending a visit to relatives, bringing in workers, owning property, housing transfer and other benefits.

The Council's approval of the special residency system – the treatment of the Council of Ministers for the Study – was 76, but some against it and the number of 55 members, the majority of whom see the importance of the system, because Of the interest of the country and eliminate some aspects of concealment, economy, and stimulate business activity, especially as the system requires the applicant's financial solvency to benefit from the residence distinctive.

The residential resilience system includes many privileges such as family accommodation, visiting relatives' homes, owning property, transportation, working in private sector establishments, traveling among them, freedom to leave, and returning to the kingdom, using the Saudi corridors. Leave the kingdom and practice trade. Refurbished with a renewable year.

Al-Arabia TV reported that the special residency system gives special privileges to the freedom of movement and movement to and from Saudi Arabia without the need for the patron's consent.

Saudi Arabia has established a center called Al-Mukaima, which is specialized in accommodation.

The special residence project is divided into two permanent and temporary accommodation with a fixed fee, which gives the owner a number of advantages, including doing business according to specific regulations.

"Discharged residence is fighting business concealment in the kingdom," renowned economist Fadl El-Boaina, through his Twitter account.

The resident is entitled to benefits such as staying with his family, receiving a visit to relatives, bringing in workers, owning property, owning means of transportation, etc. The system includes special fees, determined by the executive regulations.

According to the report, the "special residence" system is in line with the Saudi Crown Prince, Prince Mohammed Bean Salman Bee Abdulazis Al Saud, announced on the Green Card project during a special interview on El Araba in 2016.

Prince Mohammed Bean Salman said the Green Card project will enable Arabs and Muslims to live long in the kingdom and that it will be a tribute to investments in the kingdom and that it will be implemented in the next five years.

"The special residence project was not born from the moment," said Fadl bin Saad al-Buainain, an economist and banking analyst at Al Arabiaanet. "His first features began in 2016 at a press release by Crown Prince Mohammed Bean Salman as part of his 2030 vision.

The report said that the distinctive residence of the tools to attract investment and enhance public revenues and address economic problems such as efficient bias and smuggling of money outside the country. For example, non-Saudi remote remittances in 2018 totaled about 136 billion riyals, while the United Kingdom rains in the world of remittances after the United States of America remittances have nothing to do with wages and salaries, but with hidden investments. Are considered a loss of the economy.

Al-Buainain was told Al-Arabiya.net "I believe that the special residence system is one of the practical solutions to address the problem of concealment, as well as the problem of remittances, where regional investors can keep their money legally and they Are confident and this will lead them to invest more and assure their financial returns, investing their money in the black economy to shift to the official economy in their name and contribute to the localization of financial returns instead of converting Shine and they will carry the fees and taxes system that they do not pay under cover.

The report said the systematic economic transformation in the Kingdom and the launch of major development projects would "generate huge opportunities and would also need the skills, minds and money that make their country feel the conditions for the construction and strengthening of The economy.

He added that many countries, including Western countries and several Arab countries, "also give the advantages of residence and nationality to investors and consider them an attractive investment tool and attract the minds and innovations and creators."

According to the economic analyst fadl-el-buainin, the report of the special residence does not mean that it is a negatives, it is normal in every project. "So I think the special conditions and advantages of rezidence are subtly learned to reduce their negative effects and maximize their benefits; a defect may arise during the application, and there is a period of experimental incubation to detect and check the result.

The head of research at Al-Raji Capital, Maze Al-Sudairi, told El Arabia that the special residence is to give citizenship due to those who are rich in goals together at the economic level.

On the other hand, investors have to register their companies or businesses with names of other citizens who felt insecure and forced them to transfer their money abroad, al-Sudairi said the special residency project addresses "the problem of business concealment or shadow economy, Allowing for ownership and mobility, which has led to money migration and not ending up in the kingdom for years.

Al-Sudairi emphasized that it is another benefit in the residency project, namely achieving rich Muslims who want to live in Mecca or Medina, by giving their full rights in ownership and movement.

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