On this page, we will explain how to apply for an investor visa for Oman, the restrictions, the eligibility rules, and how to apply. For expert assistance with your immigration matter, contact Reiss Edwards, immigration lawyers and solicitors in London.
Tucked away on the southern edge of the Arabian Peninsula, bordering the UAE, Saudi Arabia, and Yemen, Oman has a great deal to offer entrepreneurs and investors from around the world. While it may appear to be a small country, Oman is, in fact, nearly 30% larger than the UK but has a population of only five million. As the oldest independent state in the Arab region, Oman has a rich blend of cultures from east and west and is known for its terraced orchards, fortresses, ancient mosques, rolling sand dunes, and vibrant culture. While it is possible to secure a visa to work in Oman, there are strict restrictions on the professions and sectors in which foreign nationals can be employed. On this page, we will explain how to apply for an investor visa for Oman, the restrictions, the eligibility rules, and how to apply.
The Omani government is keen to encourage inward investment into the country; this is managed by the Ministry of Commerce and Industry. According to the Ministry, “In the context of the Sultanate’s endeavour to encourage the establishment of businesses and attract foreign investments, the Sultanate focuses on its policy of encouraging foreign capital to push the development movement to reduce dependence on oil and diversify sources of national income. The government also amended the tax law in 2000 to create a good investment climate in the Sultanate…The Sultanate also provides many facilities in this regard, such as world-class infrastructure facilities, appropriate corporate taxes, in addition to tax exemption for some institutions, and works to simplify procedures for setting up businesses and ensuring transparent management of companies”.
The Omani investor visa is specifically designed to enable eligible foreign entrepreneurs and investors to base themselves within the Sultanate of Oman to set up and run a business venture. It is also possible for overseas investors to invest in an existing business within Oman (i.e. become a shareholder in an existing Omani company).
The Omani investor visa is typically granted for up to two years and can be renewed prior to expiry. In order to renew an investor visa in Oman, the investor or entrepreneur will still need to meet the eligibility requirements and continue to keep their investment within Oman.
The Omani Investment Residency Programme (IRP) is a new initiative that launches in September 2021. The scheme is designed to encourage greater inward investment in the areas of tourism, mining, logistics, agriculture, fisheries, education, health and information technology (IT). One of the main reasons for introducing the IRP is to encourage a greener circular economy within Oman. Those who are eligible under this scheme will be able to secure a renewable long-term five or ten-year residency permit.
The following requirements must be met to secure an investor visa in Oman:
If you are unsure if you are eligible for an investor permit for Oman, speak to a lawyer specialising in Omani immigration policy who will be able to assess this for you.
There are several steps to securing an investor visa for Oman, as follows (this process below assumes you are applying from outside Oman):
While there is no specified minimum investment amount, larger investments do stand a greater chance of securing immigration clearance. Investments of at least US$100,000 (around 40,000 Omani Rials) are typically required to make a successful investor visa application in Oman.
In order to apply for an investor visa for Oman, several documents will be required, these may include:
Yes, investor visas can be renewed from within Oman prior to their expiry. In order to make a successful renewal application, evidence that the applicant continues to invest in the country will need to be provided.
Investors may also benefit from a new initiative announced by the Omani government, which will allow them to secure either a five or ten-year-long residency permit; see above for details of the new Investment Residency Programme (IRP) for Oman.
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