Non-Omanis can now own real estate in Oman

Non-Omanis can now own real estate in Oman

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Muscat: As part of the efforts to stimulate the real estate market and attract foreign investments, Dr. Khalfan bin Saeed Al Shueili, Minister of Housing and Urban Planning, issued a ministerial decision allowing the non-Omani investor to own real estate in the Sultanate of Oman.

The decision said that the non-Omani investor wishing to obtain a first-class residence card has the right to request a certificate from the Real Estate Registry Secretariat, proving that he purchased one or more housing units with a total value of no less than RO500,000 or a value of no less than 250, 000 if he wishes to obtain a second-class residence card, and the housing unit or housing units must be in places licensed to own for non-Omanis.

The decision added that a non-Omani investor who holds a first-class residency card has the right to own one property for residential, commercial, or industrial use outside the places licensed for non-Omanis to own, and this right is transferable to others, without prejudice to the law prohibiting non-Omanis from owning lands and real estate in some places in the Sultanate based on Royal Decree 29/2018 and the Executive Regulations issued pursuant to Ministerial Resolution 292/2020.

The places where ownership