Oman launches long-term residence visas for investors

Oman - The initiative rolls out in September.

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By Reuters

Published: Wed 23 Jun 2021, 3:29 PM

Last updated: Wed 23 Jun 2021, 4:16 PM

Oman will start granting long-term residence visas to foreign investors, state media said on Wednesday.

The move to offer renewable 5- or 10-year residency visas echoes moves by the UAE in recent years to offer longer-term residencies to investors and certain professionals.

Oman's initiative, effective from September, grants foreign investors and retirees the right to reside for long periods in the sultanate, the ministry added.

Expatriates make up around 42 per cent of Oman's population, government data from 2020 showed. The country has a long-standing workforce nationalisation policy, known as Omanisation, to create employment opportunities for its citizens.

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