Saudis Consider ‘Green Card’ System

expat network

Saudis Consider ‘Green Card’ System

Saudi Arabia is considering setting up a ‘green card’ system, similar to that used in the US, as part of plans to raise $100 billion of revenues annually by 2020. The green card system and a plan to charge companies a fee for hiring more foreign workers above official quotas could raise $10 billion each a year, Deputy Crown Prince Mohammed bin Salman told Bloomberg, as reported in Arabian Business.

Other than VAT, Prince Mohammed said: “Yes, we have the sin tax, energy drinks and soda drinks tax. We are working on a specific programme similar to the green card.

“Some fees might be on luxury items and as we said earlier, restructuring subsidies. So it’s a large package of programmes that aims to restructure some revenue-generating sectors.”

The prince said that $10 billion would come from VAT, $30 billion from subsidy reforms and $40 billion from other unspecified measures.

The green card system in the US allows immigrants to live and work in the country permanently. They are valid for ten years, after which they can be renewed, and are seen as a path to gain citizenship.

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.