Oman’s Minister of Commerce, Industry & Investment Promotion Qais Mohammed Al Yousef announced a new investment residency programme (IRP) for expatriates on June 23, 2021.
The IRP is designed to attract high-impact foreign investment, help create jobs and enhance growth. It offers two extended residency programmes through real estate and commercial investment on a renewable five and 10-year basis, subject to applicants meeting specific criteria.
The programme, to be launched in September, targets industry, tourism, mining, logistics, agriculture, fisheries, education, health and information technology sectors, as well as the enabling sectors represented by the green and circular
The IRP is part of the new routes for investment under Oman Vision 2040, a roadmap for economic and social development launched by Sultan Haitham Bin Tarik in December last year.
Alongside other enhancements to the commercial environment, such as the provision of quality digital services and the
streamlining of procedures and processes, it shows Oman’s determination to become ever more globally competitive,
increase trade, strengthen industry and empower the business community.
Minister Qais Mohammed Al Yousef announced the programme at a meeting held at the ministry.