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Last year, Saudi Arabia launched the programme that also includes a one-year renewable residency for SR100,000.
Albalushi, who performed in several Saudi TV dramas, expressed happiness over getting the residency.
“Thanks for trust and granting me the premium residency. My happiness is beyond description. Living and investment in Saudi Arabia. I want to live and die in it,” the 39-year-old actress said on her Twitter account.
The premium residency allows its holder to buy property, do business and easily leave the kingdom.
In recent years, Saudi Arabia has sought to diversify its oil-reliant economy and upgrade various economic sectors under an ambitious development scheme dubbed Saudi Vision 2030.