Oman officially launches 10-year golden residency to attract foreign capital and talent

Dubai: Oman has officially launched a 10-year Golden Residency programme designed to attract foreign capital and skilled professionals, offering long-term stability to investors and their families as part of the country’s Vision 2040 reform agenda.

The announcement was made on Sunday at the “Sustainable Business Environment” forum in Salalah, under the patronage of Sayyid Marwan bin Turki Al Said, Governor of Dhofar, and in the presence of Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion (MoCIIP). The programme, officials said, reflects a strategic push to deepen private sector growth, accelerate job creation, and encourage knowledge transfer.

Under the scheme, investors who meet a minimum threshold of 200,000 Omani rials (about $520,000) qualify for renewable decade-long residency permits covering their spouses, children, and first-degree relatives, without restrictions on age or number.

Residency holders will also enjoy fast-track airport services, permission to employ up to three domestic workers, and the right to own one property outside integrated tourism complexes in areas otherwise open to non-Omani ownership.

Applicants may secure eligibility through any of seven routes: establishing companies with capital and assets valued at RO200,000 or more; purchasing property in integrated tourism complexes; holding government development bonds with at least two years to maturity; investing in listed equities worth RO200,000 or more; maintaining five-year fixed bank deposits of RO200,000; owning firms with at least 50 Omani employees and RO200,000 in capital; or being nominated under the Foreign Investment Law by companies with sufficient capital, with multiple nominations possible.

MoCIIP emphasised that the programme is designed to ensure funds are channelled into strategic sectors, reinforcing Oman’s reputation as a predictable, investor-friendly jurisdiction. “The Golden Residency is not merely a residence permit; it is Oman’s commitment to creating a balanced environment that combines opportunity, stability, and quality of life,” said Nasima bint Yahya Al Balushi, Director General of the Investors Services Centre. Oman ranked fourth globally in the 2024 Quality of Life Index, she added.

The Salalah event also saw the launch of the “Distinguished Companies” initiative, a joint effort by the Ministry of Labour, Tax Authority, Royal Oman Police, and the Oman Chamber of Commerce and Industry to recognise high-performing Omani firms.

Companies will be classified by governance, efficiency, and economic contribution, with criteria including revenue, Omanisation rates, export performance, and compliance.

Additionally, Omani authorities introduced a new digital service to transfer commercial registration ownership via the Oman Business Platform, initially covering one-person companies and sole proprietorships, marking another step in the country’s digital transformation drive.

To market the programme internationally, Oman has partnered with Alam Al Hijrah (Migration World), a government-accredited consultancy with a network in more than 60 locations worldwide. Its role will include targeted digital campaigns, participation in major investor events, and strategic partnerships in coordination with MoCIIP.

The Golden Residency programme reduces the earlier minimum investment requirement of RO250,000, signalling Oman’s intent to compete regionally with neighbouring states that have already introduced similar long-term residency schemes.