Dubai: As many as 26 expat investors have been granted the long-term 10-year residency visa in Oman, local media reported.
In a statement issued yesterday, the Ministry of Commerce, Industry, and Investment Promotion said the visas were handed over to investors by Qais Al Yousef, Minister of MoCIIP.
The Investor Residency Programme (IRP) was launched last September by the Ministry of Commerce. The programme offers foreign investors and retirees long-term residency rights in the Sultanate. The visa can be five to 10 years for expats wishing to invest or reside in Oman, and the permit can be renewed after expiry.
These long-stay visas come as part of the government’s efforts to enhance the country’s investment environment, according to the ministry. Upon obtaining residency, investors will also be provided further incentives and benefits. Details about the investment required to obtain such visas were not revealed.