Muscat: The Ministry of Commerce and Industry and Investment Promotion (MOCIIP) has announced that it will provide incentives such as long-term residency for expatriates, to stimulate the overall business and investment environment in the Sultanate.

According to an official statement, “Ministry of Commerce, Industry and Investment Promotion (MOCIIP) announce an Investors’ Residency Programme aimed at backing up the investment environment in the Sultanate and enticing typical investments, creating job opportunities, and supporting the domestic economy with feasible projects compatible with Oman Vision 2040 goals.”

The activation of the Investor Residence program will start in September 2021 by submitting a request to benefit from the program through the Ministry’s Investment Services Centre, electronically, after completing all the procedures related to the project.

The duration of the residency may be extended with adherence to the procedures and regulations stipulated for this policy.