To mark the launch of the scheme, 22 people from 10 nationalities were given long-term residency permits. Nine among these 22 are Indians. Interested can apply for the scheme from October 3.
The Sultanate of Oman on Wednesday launched a long-term residency scheme to attract and retain international investors in the country. The applications for the scheme will be received from October 3.
To mark the launch of the scheme, 22 people from 10 nationalities were given long-term residency permits. Nine among these 22 are Indians.
Oman’s Ministry of Commerce, Industry and Investment Promotion (MoCIIP) announced the scheme amid an august gathering of businessmen, government and embassy officials.
The programme has two categories:
- 10-year extendable visa
- Five-year extendable visa
The eligibility for 10-year extendable visa is ownership of one or several fully constructed housing units worth RO500,000; Ownership of public/closed joint-stock or any other company or its shares with a market value of not less than RO500,000; Owner of a company employing not less than 50 Omani employees; and purchase of RO500,000 worth of Omani governmental bonds.
Following are the Indian nationals who got the long-term residency permits to mark its launch on Wednesday:
- Yusuffali / Indian National / Lulu Group Company
- Dr. Muhammad Ali / Indian National / Galfar
- Dr. Shamsher Vayalil / Indian / Life Line Hospital and Burjeel Hospital Company
- Kiren Asher / British National / Al Ansari Trading Est
- Yusuf Nalwala / Indian National / Al Ansari Trading Est
- Muhammad Amin/ Indian National / Sea Pride LLC
- Navin Jindal / Indian National / Jindal Shadeed Iron and Steel Company
- Shashikumar Morkanath / Indian National / Moon Iron and Steel Company
- Nalishi Qamar / Indian National / Muscat United Food Industries Company
For 5-year extendable visa the applicants need to have: One or several fully constructed housing units worth RO250,000; a company or its shares with a market value of not less than RO250,000; and purchase of RO250,000 worth of Omani governmental bonds.
The programme also includes retirees. The retirees should be at least 60 years old when applying; provide proof of work in Oman with employment of not less than two years; submission of a personal account statement from a bank in Oman of not less than six months showing monthly income of at least RO4,000; and submission of a house deed or a residential lease under the applicant’s name.
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