Green card system to boost Saudi Arabia economy
17 Apr 2016
(MENAFN) Green card system in the Kingdom will produce almost USD 10bn annually via reduced payments and other sources.
Moreover, the plan will end the existing sponsorship system for holders, who will be needed to pay zakat and value-added tax.
Accordingly, the system will generate at least USD 10bn in revenues yearly, although the real situation will emerge after green cards are introduced.
In addition, the system will include many economic benefits like revenue through the green card fee, reducing payments and setting up for industries.