A top Shoura Council official said the Saudi permanent residence card will only be granted to foreign investors and highly qualified experts among expatriates. Procedures are still being studied by a number of ministries, and regulations will be announced soon, he explained, adding that the new system would be similar to the US residence model. The plan will be discussed by the consultative body before being passed to Cabinet for approval. The card will allow expatriates to own property, undertake business activities and put an end to the existing sponsorship system, with expatriates required to pay Zakat and possibly value-added tax. (Arab News)