Oman to grant special residency to expat investors and their families

Oman has granted special residency to expats and their families through "investor visas" lasting up to ten years for a fee, local media has reported on Sunday.

The "investor visas" are five and ten years long and have been issued by the Royal Oman Police in a new move following an amendment of provisions of the executive regulations of the Foreigners Residence Law, according to Times of Oman and Atheer.

The visas, which must be renewed every three years, will be granted to expats and their families based on certificates issued by competent authorities.

"An investor visa is granted to a foreigner who wishes to invest his money in the country... a visa [will also be] issued to the spouse of the foreign investor... and his first-degree relatives upon his request and under his responsibility in accordance with the regulations set," the Royal Oman Police stated, according to Times of Oman.

The registration and renewal fee for an investor's residence visa is 300 OMR for a five year visa and 500 OMR for a 10 year visa. These visas must be used within one year of their issuance.

The registration and renewal fees for an investor's family member's visa is 50 OMR for a five year visa and 100 OMR for a 10 year visa, Atheer reported. 

Visas granted to an expat's spouse and children, which would allow them to enter and reside in the country for a period of three months at a time, is "valid for a period not exceeding one year, subject to extension... based on the approval of the competent authority," the decision added.

However, if expats who own a real estate unit in an integrated tourist complex take any legal action to dispose off their property or transfer it, the expat's, and their accompanying relatives', residencies will expire.