Oman Launches Enhanced Golden Visa Programme on August 31
Oman will roll out its revamped Golden Visa programme on August 31 as part of efforts to strengthen its position as a global investment hub. Announced by the Ministry of Commerce, Industry and Investment Promotion (MOCIIP), the initiative aligns with Vision 2040 goals to diversify the economy and reduce reliance on oil revenues.
The updated programme offers renewable residency permits of five or ten years for foreign investors, entrepreneurs, retirees, and skilled professionals, allowing them and their families to live, work, and study in Oman without a local sponsor. This move is expected to attract a significant number of international investors and professionals.
Key options include a ten-year visa requiring a minimum investment of OMR 500,000 (USD 1.3 million) or the creation of a business employing at least 50 Omanis. A five-year visa is available with an investment threshold of OMR 250,000 (USD 650,000). Additionally, a five-year retirement visa is available for applicants with a fixed monthly income of OMR 4,000 or higher. Visa holders will be entitled to full business ownership rights, property ownership in freehold zones, and access to Oman’s healthcare and education systems.
Applications will be processed through the fully digital Invest Oman portal, streamlining the process and making it more accessible for potential applicants. This digital approach is part of Oman's broader strategy to enhance transparency and reduce bureaucratic hurdles.
Complementing the visa scheme, Oman is also launching the ‘Al Majida Companies’ initiative to help high-performing Omani firms expand domestically and internationally. A new digital service on the Oman Business platform will enable the electronic transfer of commercial registrations, aimed at reducing bureaucracy and enhancing transparency. According to Mubarak bin Mohammed Al Douhani, Director-General of Planning at MOCIIP, these reforms are designed to create a stable and investor-friendly environment while advancing digital trade.
Oman’s programme is broadly comparable to similar initiatives introduced by the UAE and Saudi Arabia, positioning the Sultanate within the region’s competitive investment landscape. The scheme is expected to boost the real estate markets in Muscat, Duqm, and Salalah while creating jobs and fostering growth in non-oil sectors such as IT, tourism, logistics, and renewable energy. These efforts are crucial for Oman’s economic diversification and long-term sustainability.
