Building on the success of the ‘Investor Residence Card’ programme that was first announced in September 2021, Oman has issued long-term residency cards for 42 expat investors today [January 16].

The details were made public by the Ministry of Commerce, Industry, and Investment Promotion. As per the ministry, a total of 17 investors received the coveted 10-year visa, while 25 expats received the 5-year visa.

Her Excellency Assila bint Salem Al Samsamiya, the Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion delivered the long-term cards.

More details of the recipients are yet to be released but it is known that these investors will join the likes of businessmen such as M.A. Yusuff Ali, Sir Charles Shaw, and Najeeb K.

Criteria for obtaining long-term residency for 10 years in Oman

• Investors need to have an investment of RO500,000 and above in a limited liability company (LLC), government bonds, or in a closed joint-stock company
• Buy a unit of houses with a value of no less than RO500,000
• Establish a company that employs at least 50 Omanis (capital not mentioned)

Criteria for obtaining long-term residency for 5 years in Oman

• Investors need to have an investment of RO250,000 and above in a limited liability company (LLC), government bonds or in a closed joint-stock company
• Buy a house or housing units worth RO250,000
• Retirees who have a fixed income of no less than RO4,000 and a permanent place of residence