Oman formally initiates a decade-long golden residency program to entice international investments and skilled workforce
Oman has introduced a 10-year Golden Residency programme, aimed at attracting foreign capital and skilled professionals to the country. The initiative is part of Oman's digital transformation drive and efforts to strengthen its reputation as a predictable, investor-friendly jurisdiction.
The programme offers long-term stability to investors and their families, who will enjoy various benefits such as fast-track airport services, the right to own one property outside integrated tourism complexes, and the ability to employ up to three domestic workers. Residency permits cover spouses, children, and first-degree relatives without age or number restrictions.
Investors who meet a minimum threshold of 200,000 Omani rials (approx. $520,000) qualify for these permits. Notably, the minimum investment requirement has been reduced from RO250,000, signalling Oman's intent to compete regionally with neighbouring states that have already introduced similar long-term residency schemes.
The programme is designed to ensure funds are channelled into strategic sectors, reinforcing Oman's reputation as a favourable destination for investment. Eligibility can be secured through seven routes, including establishing companies, purchasing property, investing in listed equities, and more.
Oman has partnered with Alam Al Hijrah (Migration World), a government-accredited consultancy, to market the Golden Residency programme internationally. Alam Al Hijrah, with a network in more than 60 locations worldwide, will participate in major investor events, conduct targeted digital campaigns, and form strategic partnerships in coordination with the Ministry of Commerce, Industry, and Investment Promotion (MoCIIP).
In addition, a new digital service has been introduced to transfer commercial registration ownership via the Oman Business Platform, initially covering one-person companies and sole proprietorships. This move is expected to streamline the process and make doing business in Oman more efficient.
Interestingly, Oman ranked fourth globally in the 2024 Quality of Life Index, reflecting the country's high living standards. Furthermore, a new initiative called 'Distinguished Companies' has been launched, a joint effort by the Ministry of Labour, Tax Authority, Royal Oman Police, and the Oman Chamber of Commerce and Industry. Companies will be classified by governance, efficiency, and economic contribution, with criteria including revenue, Omanisation rates, export performance, and compliance.
While no specific information was provided about the eligibility routes for the Golden Residency programme or the 'Distinguished Companies' initiative, these developments underscore Oman's commitment to attracting foreign investment and fostering a business-friendly environment.
