Muscat: The Sultanate of Oman has decided to grant special residency to investors and their families for a period of 10 years for a fee.
The Royal Oman Police issued amendments to some provisions of the executive regulations of the Foreigners Residence Law, which stated: "An investor visa is granted to a foreigner who wishes to invest his money in the country, based on a certificate issued by the competent authority, and the visa must be used within one year from the date of its issuance. Visa is also issued to the spouse of the foreigner investor in the Sultanate and his first-degree relatives upon his request and under his responsibility in accordance with the regulations set by the competent authority."
The decision added, "The competent authority may convert the visas stipulated in this article to any type of visa followed by residency if its conditions are met, and in accordance with the controls set by the competent authority, and after paying the prescribed fee."
Here are the fees for the entry visas:
For 10-year investor visa, the registration fee is OMR 500.
For five-year investor visa, registration fee is OMR 300.
The decision indicated that the residence renewal fee for an investor's residence visa for 10 years is OMR 500 and it should be renewed every three years. While an investor residence visa for five years should be renewed every three years with a fee of OMR 300.
The decision also granted the foreign investor the right to request entry visa for his wife and first-degree family to the Sultanate and stated: “For a foreigner who wishes to invest his money in the country and upon his request and according to a certificate issued by the competent authority stating that, visa may be granted to his wife and children. The visa is valid for a period not exceeding one year, subject to extension for a similar period based on the approval of the competent authority. The visa entitles its holder to enter and reside in the country for a period not exceeding three months each time."
Here are the registration fees for entry visas:
For enrollment investor visa for 10 years, the registration fee is OMR 100.
For five-year investor visa, the registration fee is OMR 50.
The renewal fee for the residence permit joining an investor for 10 years is OMR 100, and it should be renewed every three years, while the renewal of the residence permit for joining an investor for five years is renewed every three years with a fee of OMR 50.
The age requirements will not apply to those who obtain an investor enrolment residency and a real estate owner enrolment residency.
However, the residency of expats who own a real estate unit in an integrated tourist complex will expire if they take any legal action to dispose off the property or transfer it. Accordingly, the residence of his wife, children and relatives accompanying him shall also be terminated.