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

Oman has officially unveiled a 10-year Golden Residency programme, a landmark initiative aimed at attracting foreign investment, highly skilled professionals, and long-term residents in line with the country’s Vision 2040 reform agenda.

The announcement came on Sunday during the “Sustainable Business Environment” forum in Salalah, held under the patronage of Sayyid Marwan bin Turki Al Said, Governor of Dhofar, and attended by Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion (MoCIIP).

Officials described the move as a strategic step to accelerate private sector growth, job creation, and knowledge transfer, while offering investors and their families stability and quality of life.

Key Benefits of the Golden Residency

The programme grants renewable 10-year residency permits to investors meeting a minimum threshold of 200,000 Omani rials (about $520,000). The permits extend to spouses, children, and first-degree relatives, with no restrictions on age or number of dependents.

Residency holders will also benefit from:

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 typically restricted for non-Omani ownership.

Seven Routes to Eligibility

Applicants may qualify for Golden Residency through any of the following investment or business routes:

Establishing companies with capital and assets worth 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 valued at 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 eligible companies with sufficient capital (with multiple nominations allowed).

Government Position and Vision

MoCIIP stressed that the programme is designed to channel funds into strategic sectors while positioning Oman as a predictable and investor-friendly jurisdiction.

Nasima bint Yahya Al Balushi, Director General of the Investors Services Centre, said:

“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.”

She also highlighted that Oman ranked fourth globally in the 2024 Quality of Life Index, reinforcing the country’s appeal to long-term investors and professionals.

Distinguished Companies Initiative

Alongside the Golden Residency, the Salalah forum witnessed the launch of the “Distinguished Companies” initiative, a collaborative effort involving the Ministry of Labour, Tax Authority, Royal Oman Police, and Oman Chamber of Commerce and Industry.

This initiative will classify Omani firms based on governance, efficiency, and economic contribution, with evaluation criteria such as revenue, Omanisation rates, export performance, and compliance standards.

Digital Transformation Push

Omani authorities also introduced a new digital service enabling the transfer of commercial registration ownership via the Oman Business Platform. The service initially covers one-person companies and sole proprietorships, marking another milestone in the nation’s ongoing digital transformation agenda.

International Marketing Strategy

To promote the programme globally, Oman has partnered with Alam Al Hijrah (Migration World), a government-accredited consultancy with operations in over 60 locations worldwide. The firm will spearhead targeted digital campaigns, investor outreach at major global forums, and strategic partnerships in coordination with MoCIIP.

Competitive Regional Positioning

The new residency scheme reduces the earlier minimum investment requirement of RO250,000, reflecting Oman’s intent to compete more effectively with neighbouring Gulf states that have already rolled out similar long-term residency options to attract global capital and expertise.