Oman's Golden Visas keep rates unchanged - speeds up processes for business investments

Dubai: Oman has brought its Golden Visa residency and investment programme back into the spotlight – but without changes to the minimum funds required to be put in to be eligible.  

What Oman is now doing is make itself a compelling destination for entrepreneurs, startup founders and single-owner companies to commit to the various Golden Visa options.  

At the same time, the Sultanate is offering investors assurance on ease of doing business.

“Entrepreneurs can now execute complete e-transfers of commercial registrations through revamped Oman Business (Invest Oman) platform,” said Irina Cotescu, co-founder of Oliviri Consultancy.

“The system’s initial phase covers sole proprietorships and single-owner companies - and replacing traditionally paperwork-heavy procedures with a fast, streamlined digital process.”

Valid points, and that’s exactly what a new crop of global businesses – and business nomads – are searching for. Long term residency in a country of their choice and with access to all the business opportunities that this can provide. At the touch of a button.  

Early this week, Oman spoke about the launch of the Golden Visa programme. But it’s been in place since 2021 – and industry sources say the rate structure to sign up remains the same.

“Having reviewed the eligibility requirements with our team on the ground and the Invest Oman portal, we can confirm that the categories and criteria remain unchanged,” said Matt Boyd, Business Development Manager at Sovereign Group.

“This is nonetheless a strong relaunch initiative that helps bring renewed investor attention to the opportunities available under the programme."

Residency visas of 5- and 10-year stays are allowed.

Oman grants 10-year residency the following ways:

• Own a fully constructed residential property worth at least OR500,000.

• Hold a company share valued at OR500,000 or more.

• Own stock in Omani-listed companies valued at OR 500,000 or more.

• Employ at least 50 Omani nationals.

• Purchase government development bonds worth at least OR 500,000.

For 5-year visas, the investment size is halved.

The Oman government has enlisted Alam Al Hijrah to get the Golden Visa programme get serious traction internationally.

“Their mandate covers digital-first marketing efforts and representation at high-profile investor forums in more than 60 countries,” said Irina.

“Oman is signaling its aspiration to position itself not only as a prime residency destination but also as a globally connected investment hub.”

It's every 3 years when it comes to renewing a 10-year residency permit, and 2 years for the 5-year option. Of course, at all times, the individual must ensure the investment is maintained.

There is also a 'special' residency option for pensioners, provided the applicants are 60 years or older. They will need to submit an employment contract from their work in the Sultanate, according to details available on the initiative.

The employment duration should be at least 2 years.

They need to furnish a personal bank account statement from a bank in the Sultanate for a period of at least 6 months. The statement should show a monthly income of at least OR4,000. (Applicants should also submit a house deed, or a residential lease under their name.)

The programme spotlights Omani businesses that 'excel in governance, operational efficiency, exports, and Omanisation', said Irina Cotescu of Oliviri Consultancy.

"Taken together, the Oman reforms underscore a dual objective: attracting foreign capital while simultaneously empowering local businesses to thrive."