Oman to announce Long-Term Residency details on 29 Sept

Oman to announce Long Term Residency
Oman to announce Long Term Residency

Muscat: The Ministry of Commerce, Industry and Investment Promotion to announce the details of the Investor-Residence programme to grant long-term residence to investors on Wednesday.

In a statement online the Ministry of Commerce said: This program aims to facilitate granting residency to investors wishing to invest or reside in the Oman, so that the residency period is 5 or 10 years, subject to renewal.

This orientation comes with the aim of supporting integrative efforts to enhance the investment environment in the Sultanate and attract quality investments in accordance with clear and specific controls and a well-studied plan that enhances the investment environment and takes into account the security, legal, social and economic aspects.

The program also aims to attract and promote qualitative investments that contribute to the growth of the domestic product and support the national economy, the localization of industries, the transfer of advanced technologies and modern technology, and the promotion of economic diversification sectors.

In order to ensure the achievement of the desired results from this programme, appropriate indicators have been developed to periodically evaluate its effectiveness and to measure and develop the financial and economic impact in proportion to each stage.

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