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The program, launched by the Ministry of Commerce, Industry and Investment Promotions (MOCIIP) in September 2021, aims to attract foreign investment to Oman and boost economic growth. It offers long-term renewable residence permits, known as "Golden Visas," to investors who meet certain investment criteria.
Under the program, investors can apply for a five-year residency permit by investing a minimum of OMR 250,000 in a business or real estate in Oman. Alternatively, investors can apply for a 10-year residency permit by investing a minimum of OMR 500,000 in a business or real estate in Oman.
The program is open to both individuals and businesses, and the residency permits are renewable. Golden Visa holders will have the right to reside in Oman, work and invest in the country, and sponsor their family members for residency.
How to Apply for a 5 Years Investor Visa in Oman?
Foreign nationals who wish to apply for a 5 years investor visa in Oman can do so by following these steps:
Meet the eligibility criteria: The applicant must be 21 years of age or older and fulfill one of the three investment options mentioned below:
Obtain the required documentation: The following documents will be required for the application process:
Pay the visa fees: The visa fee for a 5-year investor visa in Oman is OMR 326. Additionally, there may be other fees associated with the investment option chosen by the applicant.
Wait for the visa processing: The processing time for a 5-year investor visa in Oman can take around 10 to 30 working days.
Collect the visa: Once the visa is approved, the applicant can collect it from the ROP office or download it from the eVisa portal or MOCI.
It is important to note that the visa can be extended for another five or ten years if the investment is maintained throughout the initial five or ten-year period, respectively. The visa holder is required to spend at least 180 days per year in Oman to maintain their residency status.
RETIREES
Retirement is an important phase in one's life that requires careful planning and preparation. For individuals who are considering retiring in Oman, there are certain requirements that must be met in order to qualify for a retiree visa.
Firstly, the applicant must be at least 60 years old when applying for the retiree visa. This age requirement ensures that the individual is truly at the retirement age and is no longer actively participating in the workforce.
Secondly, the applicant must provide proof of work in Oman with employment of not less than two years. This requirement ensures that the applicant has a substantial connection with Oman and has contributed to the country's economy during their working years.
Thirdly, the applicant must submit a personal account statement from a bank in Oman of not less than six months showing monthly income of at least OMR 4,000. This requirement ensures that the applicant has a stable financial situation and is capable of supporting themselves during their retirement years.
BENEFITS OF OMAN 5 YEAR INVESTOR VISA
The Oman 5 Years Investor Visa provides several benefits for foreign investors who are interested in residing and doing business in Oman. Some of these benefits include:
Resident cards to be renewed every five years: With this visa, investors can stay in Oman for up to five years and renew their resident cards every five years, giving them a stable and long-term presence in the country.
The right to reside with family members (first degree) with limiting the age of children to 25 years: Investors can bring their immediate family members with them to Oman, including spouses and children up to the age of 25.
Employ up to three people for private (domestic) work: This visa allows investors to hire up to three employees for private or domestic work, providing them with additional support for their business or personal needs.
The possibility of engaging in economic activities or working in Oman: Investors can engage in economic activities or work in Oman without the need for an additional work permit, giving them the freedom to explore business opportunities in the country.
Possibility to issue visitor visas for relatives: Investors can also issue visitor visas for their relatives to visit them in Oman, making it easier for their loved ones to stay connected with them.
Use of the queues designated for Omanis at airports and other facilities: Investors with this visa can use the designated queues for Omanis at airports and other facilities, which can save them time and hassle during their travels.
Overall, the Oman 5 Year Investor Visa offers foreign investors a range of benefits that can help them establish a stable presence in Oman, pursue business opportunities, and enjoy a high quality of life with their families.
In conclusion, these requirements ensure that only qualified and deserving individuals are granted retiree visas in Oman. Retiring in Oman can be a great experience for those who meet the criteria and are prepared for this exciting chapter of their lives.
FINAL THOUGHTS
The introduction of the Oman Golden Visa is a positive development for foreign investors seeking residency in Oman. It offers a unique opportunity for investors to obtain a self-sponsored residence permit in Oman, which is not tied to their employment. This means that investors can enjoy greater freedom and flexibility in their stay in Oman, without the constraints of a work permit or employment contract.
One of the key advantages of the Oman Golden Visa is that it allows investors to make an investment in Oman and obtain a residence permit in return. This can be a significant benefit for investors who are looking to expand their business interests or explore new investment opportunities in Oman. Moreover, the residence permit can be extended to family members, making it a viable option for those seeking to relocate with their loved ones.
Feamish Business Solutions is a team of experienced professionals who can assist investors with their residency and citizenship by investment needs. They can help clients navigate the complex legal and regulatory requirements of obtaining a residency permit in Oman, and provide expert advice on the investment options available.
In conclusion, the Oman Golden Visa offers a unique opportunity for foreign investors to obtain a self-sponsored residency permit in Oman, which is not tied to their employment. It is a positive development that can facilitate greater business and investment opportunities in Oman, and Feamish Business Solutions is well-equipped to assist investors with their needs.
In an era of globalized economies and increased mobility, countries around the world are recognizing the immense value that foreign investors bring to their nations. To attract and retain capital, talent, and innovation, many countries have introduced investor visa programs, offering long-term residency and a pathway to citizenship for eligible individuals. Among these programs, the 5-Year Investor Visa stands out as a remarkable opportunity for aspiring investors seeking a secure and prosperous future. This article explores the key features and advantages of the 5-Year Investor Visa, shedding light on its benefits and the potential it holds for individuals and their families.
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By obtaining an investor visa, individuals gain access to Oman's thriving business environment. They can establish and manage their own ventures, participate in local markets, and contribute to the country's economic growth.
Investors and their families have the freedom to engage in employment or business activities within Oman. This flexibility enables them to explore various professional opportunities and further contribute to the country's workforce.
Oman offers a stable and favorable investment climate, characterized by supportive government policies, robust infrastructure, and a growing economy. This encourages long-term investments and provides a secure platform for business growth.
Feamish Business Solutions offers a range of services to help entrepreneurs and investors establish and grow their businesses in Oman. Our company formation services are designed to save you time, effort, and money by providing comprehensive packages that take care of all aspects of setting up a business in Oman. Our team of experienced professionals is well-versed in Oman's legal and regulatory framework, which makes us the ideal partner for businesses looking to enter the Omani market. We understand that starting a business can be a daunting task, and that's why we're here to guide you every step of the way. We pride ourselves on providing our clients with personalized and customized services, ensuring that each client's unique needs are met. Our goal is to help you establish your business in Oman quickly, efficiently, and with minimal stress. Feamish Business Solutions offers a one-stop-shop for all your business setup needs in Oman. With our comprehensive range of services and experienced team of professionals, we make the process of setting up a business in Oman easy, affordable, and stress-free.
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