Saudi Arabia launches residency scheme for expats

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Saudi Arabia on Sunday launched a new special residency scheme aimed at luring wealthy expats as the petro-state seeks to boost non-oil revenue. The scheme offers a permanent residency for 800,000 riyals ($213,000) and a one-year but renewable residency costing 100,000 riyals ($27,000). Saudi Arabia is currently home to some 10 million overseas workers.

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