During its meeting on Wednesday, chaired by Prime Minister Dr. Jaafar Haza, the Cabinet decided to amend its previous decision regarding the required bank deposit amounts for foreigners wishing to renew their annual residency in the Kingdom. The aim is to facilitate residency procedures and stimulate investment.
اضافة اعلان
Under the new decision, the requirement to deposit 10,000 dinars for those who own property in the Kingdom has been abolished, provided that they maintain ownership of the property for the entire duration of their stay. Additionally, the bank deposit amount required for those who do not own property has been reduced to 10,000 dinars instead of the previous 20,000 dinars.
Furthermore, the decision eliminates the requirement to reserve a deposit of 10,000 dinars for property owners seeking a five-year residency, and the required deposit for non-property owners has been reduced to 10,000 dinars for a five-year residency.
The decision aims to attract more foreign investments, stimulate the real estate sector, and facilitate the residency process for investors in the Kingdom.
