Oman launches 'Golden Residency' program requiring $520,000 investment

Oman on Sunday unveiled a "Golden Residency" program that grants long-term residence to foreigners who invest 200,000 Omani rials (about $520,000) in property, bonds, companies or in businesses that expand the local workforce.

Officials announced the program at the Sustainable Business Environment forum and said it is intended to deepen private-sector growth and attract foreign capital. Successful applicants will be eligible for fast-track airport services and allowed to buy property in areas that historically were not open to non-Omani ownership.

The program places Oman among a growing number of countries that offer so-called "golden" visas or residency-by-investment schemes to wealthy foreigners. Governments that adopt such programs typically link residence rights to investment thresholds in real estate, government bonds, or job-creating business ventures. Organizers of Oman’s new scheme said the measure is part of a broader strategy to promote a balanced business environment that encourages sustained private investment.

Oman set multiple qualifying routes for applicants: direct property purchases, investments in bonds, equity stakes in companies, or commitments to establish or expand businesses that create employment. Authorities did not immediately release detailed regulations on application processing times, the precise length of residency rights, or tax implications for successful applicants.

The initiative arrives amid persistent competition among Gulf states and other countries to secure foreign capital and high-net-worth residents. Proponents of residency-by-investment programs argue they spur construction, finance and service sectors and can bring expertise and jobs. Critics elsewhere have raised concerns about disclosure, national security and equitable access, though Omani officials emphasized the program’s economic-development objectives when announcing it.

Oman’s announcement did not specify an exact launch date for accepting applications or the number of residences to be made available. Authorities said further details and regulatory guidance would be released as the program is implemented. Observers will watch how quickly regulations are finalized and whether the new pathway generates significant inflows of investment and residency applicants.

The Golden Residency adds to a regional trend in which governments tailor incentives to attract international investors and residents, while balancing domestic policy goals on housing, employment and national ownership rules.