Oman Introduces 10-Year Golden Residency Scheme

Oman has unveiled a decade-long Golden Residency programme aimed at drawing foreign investors, professionals, and their families as part of its Vision 2040 reform strategy. The initiative was formally announced during the “Sustainable Business Environment” forum in Salalah, attended by Sayyid Marwan bin Turki Al Said, Governor of Dhofar, and Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion (MoCIIP).

Officials highlighted that the programme seeks to stimulate private sector growth, generate employment, and promote knowledge transfer, while providing long-term stability for expatriates contributing to Oman’s economy.

Key Benefits for Golden Residency Holders

• 10-year renewable residency permits covering spouses, children, and first-degree relatives, with no restrictions on age or number.
• Fast-track airport services and permission to employ up to three domestic workers.
• Property ownership rights beyond integrated tourism complexes, in specific zones open to non-Omani nationals.

Eligibility Pathways (Minimum RO200,000 / USD $520,000 Investment)

Applicants can qualify through seven routes:

• Establishing companies with assets and capital of at least RO200,000.
• Buying property in integrated tourism complexes.
• Purchasing government development bonds with a minimum two-year maturity.
• Investing RO200,000 or more in listed equities.
• Maintaining five-year fixed deposits of RO200,000.
• Owning firms with at least 50 Omani employees and RO200,000 in capital.
• Being nominated under the Foreign Investment Law by qualified companies.

MoCIIP noted that the framework is designed to channel investments into priority sectors, enhancing Oman’s position as a stable and investor-friendly market.

“Distinguished Companies” Recognition

At the same event, authorities launched the “Distinguished Companies” initiative, a collaboration between the Ministry of Labour, the Tax Authority, Royal Oman Police, and the Oman Chamber of Commerce and Industry.

Companies will be rated based on governance, Omanisation levels, revenue, export achievements, and compliance. The aim is to reward high-performing firms and encourage greater contributions to the national economy.

Digital Business Transformation

Oman also introduced a new digital service enabling the transfer of commercial registration ownership via the Oman Business Platform. Initially covering sole proprietorships and one-person companies, this service reflects the government’s broader digitalisation agenda.

Global Marketing Efforts

To promote the residency scheme internationally, Oman has partnered with Alam Al Hijrah (Migration World), a licensed consultancy with outreach in over 60 countries. Marketing will involve digital campaigns, investor conferences, and strategic alliances coordinated with MoCIIP.

Competitive Edge

The new Golden Residency lowers the minimum investment threshold from the previous RO250,000 to RO200,000, bringing Oman in line with other Gulf states offering similar long-term visa options.

“The Golden Residency is not just a permit; it is a commitment to building a balanced environment of opportunity, security, and quality of life,” said Nasima bint Yahya Al Balushi, Director General of the Investors Services Centre. She also highlighted Oman’s strong performance in the 2024 Quality of Life Index, where the country ranked fourth globally.