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Merge 104.8 | 29 September 2021
Oman’s Ministry of Commerce, Industry and Investment Promotions launched a program that will grant long-term residency to big expat investors in the country.
The “Investor Residence” program mainly aims to enhance the investment quality in Oman and create more job opportunities for unemployed Omanis.
The program is split into two categories. The first category will grant foreign investors a residency for up to 10 years, and it is for those who invest at least OMR 500,000 in a limited liability company, closed joint-stock company or government bonds. It is also for those who establish a company that employs at least 50 Omanis or those who buy housing units with a value of no less than OMR 500,000.
The second category will grant foreign investors a residency for up to 5 years, and it is for those who invest at least OMR 250,000 in a limited liability company, closed joint-stock company or government bonds, or for those who buy a housing unit with the same value.
So far, 22 investors of different nationalities were given investment visas under the newly-launched program.
