Oman to grant special residency to expat investors and their families
Oman to grant special residency to expat investors and their families
The visas offered last up to ten years but must be renewed every three for expat investors and their accompanying family members.
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Visas granted to an expat's spouse and children will allow them to enter and reside in Oman for a period of three months at a time under the new provisions [Getty]
has grantedÌýspecial residency to and their families through "investor visas" lasting up to ten years for aÌýfee, local media has reported on Sunday.
The "investor visas" are five and ten years long and have been issued by the Royal Oman in a new move followingÌýan amendmentÌýof provisions of theÌýexecutive regulations of the Foreigners Residence Law, according toÌýTimes of Oman and Atheer.
The visas, which must beÌýrenewed every three years, will be granted to expats and their families based on certificates issued by competent authorities.
"An investor visa is granted to a foreigner who wishes to invest his money in the country... a visa [will also be] issued to the spouse of the foreignÌýinvestor... and his first-degree relatives upon his request and under his responsibility in accordance with the regulations set," the Royal Oman Police stated, according to Times of Oman.
The registration and renewalÌýfee for an investor's residence visa is 300 OMR for a five year visaÌýand 500 OMR for a 10 year visa. TheseÌývisas must be used within one year of theirÌýissuance.
The registration and renewal fees forÌýan investor'sÌýfamily member's visa is 50 OMR for a five year visaÌýand 100 OMR for a 10 year visa, Atheer °ù±ð±è´Ç°ù³Ù±ð»å.Ìý
Visas granted to an expat's spouse and children, which would allowÌýthemÌýto enter and reside in the country for a period of three months at a time, is "valid for a period not exceeding one year, subject to extension... based on the approval of the competent authority,"Ìýthe decision added.
However, if expats whoÌýown a real estate unit in an integrated complex take anyÌýlegal action to dispose off their property or transfer it, the expat's, and their accompanying relatives', residencies will expire.
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