OmanResidency By Investment

Overview

The Sultanate of Oman introduced the Investor Residency Program (IRP) in September 2021, establishing an enticing opportunity for global investors through the Oman Residency by Investment initiative. This program, functioning as a type of Golden Visa scheme, presents two distinct categories with different investment types and thresholds:

10-year residency in exchange of investment of at least USD 1,3 million – Category I
5-year residency in exchange of investment of at least USD 650,000 – Category II

Investment types

Investment in a residential real estate
Company establishment or buying shares in the existing enterprise
Purchase of government bonds
Creation of at least 50 jobs

Eligibility

Applicants for the Oman’s Foreign Investors’ Residency by Investment Program must meet the following criteria:

Must be at least 21 years of age
Have a valid passport
Be in good health
Have a clean criminal record
Provide a proof of financial solvency

In certain cases, applicants may be asked to provide the investment evaluation by the Investment Services Center, provided that the project has an added value to the Omani economy. Applicants are also required to act in compliance with the laws regulating investment.

Investor Residency Card (IRC) issued for Category I (10-year residency) require electronic renewal every 3 years, while for Category II (5-year residency), this period is every 2 years, provided that the investment is maintained.

Oman also offers a special residency program for pensioners. Applicants for this type of residency must be at least 60 years old and need to submit an employment contract from their work in the Sultanate. The employment duration should be at least 2 years. They will be also asked to provide a personal account statement from a commercial bank in the Sultanate covering at least 6 months. This statement should show a monthly income of at least OMR 4,000 (USD 10,400). Applicants should also submit a house deed, or a residential lease under their name.

Benefits

Family Sponsorship

Holders of residence permit in Oman can sponsor their immediate family members, including spouses, children under 21 and financially dependent parents

Freedom of Residence and Movement

Investor visa holders in Oman do not require a sponsor to live and work in the country. They can cross the country’s border for unlimited times during their visa validity

Visa-free Access to GCC Countries

Holders of the Omani residence permit can travel without visa to the member-countries of the Gulf Cooperation Council (GCC)

Investment & Ownership Opportunities

Foreign Investors’ residence permit holders in Oman are granted the right to own residential, commercial, and industrial real estate in defined areas of Qatar

Different Investment Options

Foreign investors can opt for their desired investment type to obtain a residence permit in Oman. They do not need a local partner to be engaged in business activities

Access to Healthcare & Education

A foreign investor residence permit in Oman allows the holder access to quality healthcare services and education institutions, ensuring a high standard of living

Investment Options and Fees

	Investment in a residential RE	Company Establishment	Purchase of government bonds (2 years)	Job Creation
Category I: 10-Year Residency	USD 1,3 million (OMR 500,000)	USD 1,3 million (OMR 500,000)	USD 1,3 million (OMR 500,000)	50 jobs
Category II: 5-Year Residency	USD 650,000 (OMR 250,000)	USD 650,000 (OMR 250,000)	USD 650,000 (OMR 250,000)

Residence Permit Fees

Category I	USD1,300 (OMR 500)
Category II	USD 880 (OMR 300)

Payable for each renewal of a residence permit

Visa Fee for a Family Member

Category I	USD 260 (OMR 100)
Category II	USD 130 (OMR 50)

Payable for each visa renewal, once in every 3 years.

Application Process

Step 1 : Internal Due Diligence and Qualification Assessment

Bayat Legal Services’ compliance team will conduct an internal due diligence check, which entails a background security screening of the applicant, Preparation of KYC (Know Your Client) and a qualification assessment. The confidentiality of the verification process is maintained. Certified Anti-Money Laundering Officers review the applicant’s documents.

Step 2 : Study the Application and Agreement Signing

Bayat Legal Services will meticulously analyze the client's case. Once this is done, the client will proceed to sign a retainer agreement with the firm. Subsequently, Bayat Group will curate the whole application process.

Step 3 : Create Account on the Official Portal

Applicants need to register and create an account on the Saudi Arabia Premium Residency portal. Registration forms must be filled out completely. Applicants will need to have valid email address and phone number to verify the registration.

Step 4 : Application Submission

After creating the account, applicants have to click on the “Request Premium Residency” option and follow instructions. Applicants need to provide various materials, such as personal details, information about family members, education, work experience, finances and savings, and other general data.

Step 5 : Upload Documents

Applicants will be required to upload supporting documents, such as scans of passports, ID, birth certificates, marriage certificate, bank statements, employment contracts, and various other relevant documents. After uploading documents, they need to cover the application processing fee of USD170, which can be paid through the portal online.

Step 6 : Application Processing, Due Diligence & Visa Issuance

Authorities conduct a comprehensive due diligence check, which verifies the legality of invested funds, confirms the absence of criminal records, and ensures compliance with legal regulations. Successful applicants will be granted Saudi residence permits. Application process is very straightforward and can last 4-6 weeks. Applications for the Saudi Arabia Premium Residency Program must be submitted online through the official portal (https://saprc.gov.sa/#/).