Oman has launched a landmark Golden Residency Program for Investors, granting renewable ten-year residency permits to investors and their families, underscoring the Sultanate’s growing role as a long-term investment destination.
The program provides multiple pathways to residency, including:
Property ownership in integrated tourism complexes
Establishing companies in Oman
Investment in government bonds, shares, or bank deposits
Job creation: residency can be granted to companies creating 50 jobs for Omani citizens
Nominations by foreign companies for their partners or key employees
The initiative was unveiled by the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) during the “Sustainable Business Environment” forum in Salalah, 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.
According to Nasima Yahya Al Balushi, Director General of the Investment Services Centre at MoCIIP, “The Golden Residency represents the government’s commitment to creating a balanced investment environment combining quality opportunities and long-term stability.” She also noted that Oman ranked 4th globally in the Quality of Life Index 2024, boosting its attractiveness as both an investment hub and a lifestyle destination.
The Golden Residency was launched alongside two major initiatives:
The “Distinguished Companies” Initiative
A new electronic transfer of commercial registry ownership service via the Oman Business platform, streamlining business procedures and improving competitiveness.
Strong FDI Momentum
FDI inflows continue to rise, reaching 12.1% of GDP in 2023, an annual growth rate of 10.6%, with cumulative investment hitting OR30bn ($77.9bn) by the end of 2024.
Since its launch in February 2023, the Invest Oman platform has received 90 investment requests worth OR5.38bn ($13.9bn) and localized 43 projects worth OR2.25bn ($5.8bn) across key sectors including health, food security, industry, and renewable energy.
Digital Transformation Drive
Oman is also accelerating its digital economy. In 2024, the Oman Business platform processed over 800,000 transactions, launched 24 new e-services, and integrated with 17 government entities, raising e-service coverage to 89%.
The Ministry has also signed cooperation agreements with OPAL, Sultan Qaboos University, the German University of Technology, and Binaa for Professional Services to adopt advanced construction standards and technologies, supporting governance, transparency, and SME development in line with Oman Vision 2040.
A Vision for Diversification
Commenting on the broader reforms, Ibtisam Ahmed Al Farooji, Undersecretary for Investment Promotion at MoCIIP, said: “The launch of these programs and initiatives reflects national approaches toward enhancing the investment environment and preparing it to be more sustainable and competitive. This contributes to building a diversified economy based on knowledge and innovation, in line with the objectives of Oman Vision 2040.”
By placing long-term residency, digital reforms, and investor-friendly pathways at the center of its policy, Oman is sending a clear signal of its ambition: to attract global investors and build a diversified, knowledge-driven economy anchored in Vision 2040.
Source: Arabian Business
