Oman has officially unveiled a 10-year Golden Residency scheme, joining other Gulf nations in offering long-term residency options to foreign investors and skilled professionals.
The announcement was made at the “Sustainable Business Environment” forum in Salalah. The program is a central part of Oman’s Vision 2040 plan, aimed at boosting private sector growth, attracting foreign investment, and reducing reliance on oil revenues.
Unlike standard short-term work or business visas, the Golden Residency provides foreign nationals and their families with a renewable 10-year residency. It extends to spouses, children, and first-degree relatives without restrictions on age or family size, making the program more flexible than many similar Gulf initiatives, which often limit dependents or eligibility.
Eligibility Criteria
Applicants must make a minimum investment of 200,000 Omani rials (around $520,000). The government has identified seven primary pathways for qualification:
Applicants must also be at least 21 years old, hold a valid passport, demonstrate financial solvency, and have a clean criminal record.
Application Process and Documentation
Required documents include proof of investment (property deeds, business licenses, or bond certificates), bank statements, health insurance, police clearance certificates, and documents proving family relationships, such as marriage or birth certificates.
Applications can be submitted through the Ministry of Commerce, Industry and Investment Promotion (MoCIIP). Once approved, the residency permit is renewable every 10 years, as long as the eligibility criteria are maintained.
Benefits of Golden Residency
The program offers several advantages for investors and their families:
Significance
Oman’s Golden Residency aligns with broader Gulf trends, following programs launched in countries like the UAE, Saudi Arabia, and Qatar to attract global talent and investment.
The initiative highlights Oman’s goal of establishing itself as a safe, investor-friendly destination with one of the region’s most flexible residency-by-investment frameworks. By offering both financial incentives and lifestyle benefits, the program aims to draw international entrepreneurs, professionals, and investors seeking long-term stability.
Ultimately, the Golden Residency is expected to boost foreign capital inflows, generate employment, and support Vision 2040’s overarching goal of building a diversified, sustainable economy.
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