Oman to announce long-term residence visa for investors in a push to boost investments
The decision aims to enhance the investment environment in Oman
Muscat: Oman will be announcing details of granting long-term residency programme to investors on October 29. Oman’s Ministry of Commerce, Industry and Investment Promotion said that the programme aims to facilitate granting residency for a period of 5 or 10 years to investors wishing to invest or reside in the Sultanate, subject to renewal.
This decision comes with the aim of supporting the integrative efforts of the country to enhance the investment environment in the Sultanate and also to attract quality investments into Oman.
The program also aims to attract and promote qualitative investments that contribute to the growth of the GDP (Gross Domestic Product) and the national economy. The move, it is believed will lead to localisation of industries and transfer of advanced and modern technologies that will eventually lead to diversification of economy.