The Oman Golden Visa program, officially known as the Oman Investment Residency Program, comes with many opportunities for those who want to live or invest in this country. Oman's golden visa benefits range from long-term residency to access to world-class healthcare and education, making it a favorable place to live.
In this article, we’ll cover the main benefits that come with residing in Oman and will explore the overall application process for a Golden Visa.
Key Takeaways
- The main benefits of getting an Oman Golden Visa are long-term residency (from 5 to 10 years), access to healthcare, education, a safe and secure environment, and cultural richness.
- As an investor, Oman Golden Visa comes with these benefits: access to the growing economy, a favorable tax system, the opportunity to sponsor your close relatives, and real estate investment opportunities.
5 Benefits of Getting an Oman Golden Visa
The Oman Golden Visa program, also known as the Oman Investment Residency Program,
There are many advantages to getting an Oman Golden Visa, which makes it an attractive option for those who want to live in a new place. Here are some of Oman's golden visa benefits:
- Long-term residency
You can get a 5-year or 10-year residency by obtaining an Oman Golden Visa. Depending on the timeslot, the minimum investment will vary from 250,000 Omani Rials to 500,000 Omani Rials.
- Access to the Healthcare
Oman is known for its high-quality medical services. Being a Golden Visa holder, you’ll have access to its healthcare system and can ensure your well-being from world-class facilities and services.
- Access to the Educational System
If you’re a student or a parent who has children, you can benefit from Oman’s educational system. Having a wide range of international universities, colleges, and schools, studying in Oman can give a strong foundation for your future.
- Safe and Secure Environment
According to the Times of Oman, in 2021 Oman was announced as one of the 5 safest countries in the world for expats. Having a low crime rate, and a stable political environment, this place is ideal for those, who are looking for security.
- Cultural Richness
Having a rich cultural heritage, old cities, and natural beauty, Oman is a great place to live for those, who appreciate the importance of cultural richness.
5 Benefits of Getting Oman Golden Visa as an Investor
Investors who consider obtaining an Oman Golden Visa can take many advantages from the Oman Investment Residency Program. Here are some of the key Oman investor visa benefits.
- Access to the Growing Economy
Being located in the Middle East, Oman is experiencing steady economic growth. Its strategic location makes Oman a good place for tourists, logistics, and businessmen, who want to expand their businesses.
- Favorable Tax System
One of the greatest Oman golden visa benefits is its investor-friendly tax system. There are no personal income taxes, and corporate tax rates are relatively low. If you’re interested in buying real estate, you should know that the primary tax associated with buying property in Oman is the property transfer tax which is only 3% of the property’s sale price. As an addition, there is no capital gains tax for personal purchases.
- Sponsoring your Family
The Golden Visa Program isn’t created just to cover the investor’s residency. As an applicant, you can sponsor your close relatives as well. This means that your family members such as a spouse, parents, or children can benefit from the benefits of Oman’s residency.
- Real Estate Investment Opportunities
According to Statista, Oman's real estate market is expected to reach a value of $298.60 billion in 2024. The leading segment is residential real estate, with a projected volume of $214.40 billion for 2024. Within the next 5 years, this segment is expected to have an annual growth rate of 3.70% and reach $358.00 billion by 2029.
Additionally, it’s important to mention that there were about 3 million tourists in Oman in 2022. According to Oman’s Vision 2040 strategy, the country will be expecting about 11.7 million international and domestic tourists.
This means that buying a property in Oman can be beneficial, as there will be a high demand from tourists.
There are also some additional Oman golden visa benefits for investors, such as
- Work and take part in business activities
- Open a bank account
- Apply for visiting visas for your extended family members
- Hire up to three employees for domestic or private work
- World-class Banking Services
Another key benefit of obtaining an Oman Golden Visa is access to Oman’s world-class banking system. As a resident, you can easily open personal and corporate bank accounts in the country’s highly secure and modern banking infrastructure.
With a modern regulatory framework, Oman's banks offer a range of financial products and services that are meant to meet the needs of investors, including efficient international transactions, wealth management, and attractive financing options for business ventures. This makes managing your investments seamless, while also ensuring the safety of your financial assets.
How to Get an Oman Golden Visa
Before applying for the Oman Golden Visa, you should understand the eligibility criteria. As an applicant, you need to:
- Be at least 21 years old
- Have a clean criminal record
- Be a good character
- Have a valid health insurance (for yourself, and if your family members apply, for them as well)
- Have proof of sufficient funds required for the minimum amount of investment required for an Oman residence visa
Here is a breakdown of the steps you need to follow in order to obtain a Golden Visa in Oman.
Contact an expert: The overall process of understanding the requirements, government policies and regulations, gathering all the necessary documents, and applying for a golden visa in Oman may be overwhelming, that’s why it’s advisable to contact a professional who will help you with the whole process. Mirabello Consultancy’s experts are experienced in helping people get a golden visa, citizenship, and residency permit and are always ready to help you.
Meet the requirements: Make sure that you meet Oman's golden visa requirements listed above.
Gather all the necessary documents: Don’t forget about documents like filled-out and signed application forms, passport copies, and proof of income or financial stability.
Submit the application:
Conclusion
To sum it up, this article was mainly about Oman's golden visa benefits for individuals and investors alike, including a unique combination of long-term residency, access to essential services, and a gateway to a thriving economy.
By understanding the eligibility criteria, taking advice from an expert, and following the necessary steps, you can take full advantage of what Oman has to offer, ensuring a bright future for you and your family.
