Oman offers 10-year golden residency to draw foreign investment and talent
- Oman recently launched a 10-year Golden Residency programme to attract foreign capital and skilled professionals.
- The programme aims to support the private sector and boost job creation as part of the Vision 2040 reform agenda.
- This initiative demonstrates Oman’s commitment to providing a favorable environment for investors and enhancing quality of life.
Oman has recently rolled out a new initiative to enhance its attractiveness to foreign investors and skilled labor through a 10-year Golden Residency programme. The launch took place during the 'Sustainable Business Environment' forum in Salalah and was attended by several notable figures, including Sayyid Marwan bin Turki Al Said and Qais bin Mohammed Al Yousef. This initiative is part of the country's broader Vision 2040 reform agenda, which aims to create long-term economic growth, encouraging investment and job creation in a strategic manner. Officials from the Ministry of Commerce, Industry, and Investment Promotion emphasized that the Golden Residency is meant to ensure that foreign funds are effectively directed into important sectors of the economy. This approach is seen as an essential step in solidifying Oman’s reputation as a stable and predictable location for investors. Nasima bint Yahya Al Balushi, the Director General of the Investors Services Centre, pointed out that this residency program is a demonstration of Oman’s commitment to fostering an environment that balances opportunity with quality of life. Additionally, the forum also unveiled the 'Distinguished Companies' initiative, designed to recognize high-performing Omani businesses. This initiative signifies the government’s intent to support the local economy, encourage innovation, and create strategic partnerships across various industries. These efforts are crucial as Oman works to accelerate job creation and enhance knowledge transfer through the influx of international talent and capital. In 2024, Oman ranked fourth globally in the Quality of Life Index, demonstrating the country’s commitment to ensuring a conducive living environment for residents and potential investors alike. The combination of investment incentives through the Golden Residency programme and the recognition of local firms exemplifies Oman’s strategic approach to fostering economic growth and improving overall living conditions for its population.