The Sultanate of Oman is poised to unveil its highly anticipated Golden Visa program on August 31. Its aim was to grant permanent residency to international investors.

The initiative announced by the Ministry of Commerce, Industry and Investment Promotion (MOCIIP), seeks to attract foreign investment and stimulate economic growth through regulatory modernisation and digital transformation.

The Oman Golden Visa will offer renewable residency permits valid for 5 to 10 years to qualified investors and their families, including spouses, children under 25 and dependent parents without requiring local sponsorship.

Applicants can qualify through various avenues, including real state purchases, business ownership or capital investment in priority sectors such as renewable energy, IT, tourism and construction.

The launch will also introduce digital trade enhancements, including new electronic commercial registration transfer service through the “Oman Business” platform. It aimed at streamlining business processes reducing operational costs and improving transparency in the investment landscape.

Supported by Governor of Dhofar Sayyid Marwan bin Turki Al Said, the official announcement is expected soon. The Golden Visa program will operate in conjunction with the “AL Majida Companies” initiative which aids high-performing Omani firms in expanding their reach both regionally and globally.

Director General of Planning at MOCIIP Mubarak bin Mohammad Al Douhani, emphasised that the program underscores Oman’s commitment to fostering a stable, investor-friendly environment aligned with the goals of Vision 2040.

In addition to promoting cultural exchange, the initiative aims to enhance tourism and educational opportunities.

The move follows similar long-term residency programs introduced by Saudia Arabia and the United Arab Emirates, designed to bolster economic stability and attract tourism.