In an unprecedented move, Kingdom of Saudi Arabia is planning to introduce a US-style ‘Green Card’ system for the expats, which would directly be generating a whopping amount of revenue.
This initiative will be allowing hiring of more foreign workers, and with this the current sponsorship system will be abolished.
According the sources, the Green card system will be a handy initiative for KSA as it will be generating $10 Billion each year, whereas another $10 Billion will be raked in by imposing the fees to the companies who would be willing to hire workers more than the official quotas.
The expats have welcomed this much-expected move, although yet now the complete mechanism of this plan isn’t yet disclosed.
KSA is home to nearly 10 million expatriates, and if this plan gets live it will be befitting both, the expats and also the KSA government.
These moves are under consideration to generate revenue from different means rather than relying on the oil business, which has not remained that same due to the fall of prices.
It would be relevant to mention here that US green card allows expats to live and work in their country permanently.