UAE entrepreneur among first to get Oman long-term residency card

Abu Dhabi - The long-term residency comes with certain benefits and will act as an incentive for expats to make further investments in Oman

UAE-based Indian entrepreneur Dr Shamsheer Vayalil is among the first investors to have received Oman’s long-term residency card.

The Sultanate of Oman on Wednesday granted the newly launched card to 22 foreign entrepreneurs at a ceremony held in Muscat.

Dr Shamsheer, the chairman and managing director of VPS Healthcare, received his 10-year investor residency card from Qais bin Mohammed Al Yousef, Oman’s Minister of Commerce, Industry and Investment Promotions.

VPS Healthcare operates Burjeel and Lifecare hospitals in Oman and owns 24 hospitals in total across the UAE and India.

“I am deeply humbled and privileged to receive the long-term residence card granted by the Oman government. This is a proud moment and I take this opportunity to extend my sincere gratitude to the leadership of Oman and Qais bin Mohammed Al Yousef for bestowing the honour,” said Dr Shamsheer.

The UAE Government had granted him the golden visa in June 2019.

The Investor Residency Programme of Oman is in line with the Sultanate’s efforts to provide a booster to the economy through foreign investments.

According to the Ministry of Commerce, Industry and Investment Promotion, the programme is meant to attract bigger investments to diversify the economy and boost the growth of the gross domestic product.

The long-term residency comes with certain benefits and will act as an incentive for expats to make further investments in Oman.

• Abu Dhabi
• Oman