Oman unveils 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 pointed out that the program aims to create a boost for private sector development, create jobs, and facilitate knowledge transfer while ensuring long-term stability for expatriates who support Oman’s economy.

Main Advantages for Golden Residency Holders

10-year extendable residency permits for spouses, children, and first-degree relatives with no age or number limitations.

Priority airport services and the right to hire a maximum of three domestic workers.

Rights of property ownership outside of integrated tourism complexes, in designated areas available to non-Omani nationals.

Eligibility Streams (Minimum RO 200,000 / USD $520,000 Investment)

Seven qualification streams are available to applicants:

• Forming companies with at least RO200,000 assets and capital.
• Purchasing property in integrated tourism complexes.
• Acquiring government development bonds with a minimum maturity of two years.
• Investing RO200,000 or more in listed shares.
• Keeping five-year fixed deposits of RO200,000.
• Having companies with more than 50 Omani workers and RO200,000 in capital.
• Being nominated under the Foreign Investment Law by eligible companies.

MoCIIP observed that the structure will direct investments into preferred sectors, placing Oman in a higher stable and investor-friendly market position.

“Distinguished Companies” Recognition

During the same event, authorities rolled out the “Distinguished Companies” programme, a joint initiative among the Ministry of Labour, the Tax Authority, Royal Oman Police, and the Oman Chamber of Commerce and Industry.

The firms will be ranked against corporate governance, levels of Omanisation, revenues, export success, and compliance. The intention is to recognize top-performing companies and incentivize them to make more contributions to the national economy.

Digital Business Transformation

Oman also launched a new digital service to facilitate the transfer of commercial registration ownership on the Oman Business Platform.

This initially applied to sole proprietorships and one-person companies and is part of the government’s overall digitalisation strategy.

To encourage the residency scheme abroad, Oman has joined forces with Alam Al Hijrah (Migration World), a registered consultancy that has a reach in more than 60 nations. Promotion will be done through online campaigns, investor conferences, and strategic partnerships planned with MoCIIP.

Competitive Advantage

The new Golden Residency reduces the minimum investment level from the old RO250,000 to RO200,000 to match other Gulf countries, providing equivalent long-term visa opportunities.

The Golden Residency is more than just a license; it is an assurance to create a balanced ecosystem of opportunity, security, and standard of living,” said Nasima bint Yahya Al Balushi, Director General of the Investors Services Centre.

She also pointed out Oman’s impressive performance in the 2024 Quality of Life Index, wherein the country placed fourth in the world.