Over 450 expat investors receive Long-Term Residency Visa in Oman

Muscat: The number of investors who obtained the “Investor Residence” program cards in the Sultanate of Oman until the end of May 2022  is about 463 investors from more than 30 countries, according to which foreign investors and retirees are granted the right of long residency for a period of five years or 10 years.

The Ministry of Commerce, Industry and Investment Promotion indicated that the “Investor Residence” program cards consisted of 275 cards for the ten-year category, 184 cards for the five-year category, and 4 cards for the retired category, with a total investment of 183 million and 500 thousand Omani riyals.

Statistics issued by the Investment Services Center at the Ministry of Commerce, Industry and Investment Promotion indicated that the number of investment licensing applications until the end of last May amounted to 3,745 complete requests, 15 requests returned for modernization, and 3 requests being verified.

Her Excellency Asilah bint Salem Al Samsamiya, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion, said that the program aims to attract and promote quality investments that contribute to the growth of the domestic product and create job opportunities to supplement the national economy, localize industries, and transfer the provided technologies and modern technology.

For their part, a number of investors who obtained the “Investor Residence” program valued the efforts made by the Ministry of Commerce, Industry and Investment Promotion in cooperation with the concerned authorities, stressing that the incentives and advantages offered by the Sultanate of Oman to investors through the Foreign Capital Investment Law are an important factor in attracting various investments. In light of the investment climate and the infrastructure it owns.