Oman offers golden visas to foreigners/ Lowers investment threshold and guarantees long-term stays for entrepreneurs
Oman has officially launched a program to favor long-term residency permits, aiming to attract foreign capital and skilled professionals from abroad. The program offers investors and their families 10-year residency and stability, as part of the “Vision 2040” reform agenda, which aims to transform the country’s economy.
Local officials have stated that this strategic initiative aims to foster private sector growth, accelerate job creation, and help transfer international knowledge and experience to the country.
Under the program, those who invest at least US$520,000 will be eligible for a 10-year renewable residency, which will also include spouses, children and first-degree relatives, with no age or number restrictions. Beneficiaries will also have access to expedited services at airports, the right to employ up to three domestic workers, and the opportunity to own a property outside of integrated tourist complexes.
This status can be applied for through several different routes, such as establishing a company with capital and assets exceeding the minimum threshold, purchasing real estate in authorized tourist areas, investing in government development bonds with a maturity of at least two years, or investing in listed shares with a value equal to or greater than $520,000. Another way to meet the criteria is to hold a 5-year fixed bank deposit of this value, as well as owning a firm with at least 50 Omani employees. In addition, applicants can be nominated by foreign companies operating in Oman that have sufficient capital under the Foreign Investment Law.
Omani authorities emphasize that the program is designed to direct funds towards strategic sectors of the economy and aims to strengthen the country's image as an investor-friendly destination.
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