Over 20 foreign investors receive investors residence card | Times of Oman

Over 20 foreign investors receive investors residence card | Times of Oman

"The "Investor Residence" programme comes within the aim of facilitating residency for periods ranging from five to 10 years for investors wishing to invest in Oman," said Al Yousef. "The ministry's investment services centre provides this residency, which can be extended under clearly-defined controls and procedures. "Investors are offered encouraging incentives and advantages for investing, provided they adhere to the specified regulations throughout their stay," he added. "The programme aims to attract and promote qualitative investments that contribute to the growth of GDP and create job opportunities to supplement the national economy." The rolling out of the "Investor Residence" programme also falls under the objectives of Oman Vision 2040, which aims to provide good standards of living and competitiveness through job opportunities created from a diversified and sustainable economy. This aims to be achieved through localised industries, technology transfer, the adoption of modern technology and innovations, and improving the investment environment, all of which takes into account the social, legal, security, and economic factors governing Oman. The long-term residency offering is one of those allied with the "Invest in Oman Programme", a national initiative that aims to attract investments and promote exports. It is supervised by the Ministry of Commerce,