Oman is actively modernising its economy and investment climate with the introduction of its landmark Golden Residency for Investors programme. The initiative offers a renewable ten-year residency to investors and their families, cementing the Sultanate’s position as an attractive long-term investment destination.
The programme offers a variety of residency pathways, including property ownership in integrated tourism developments, company formation, investment in government bonds or shares, and bank deposits. Residency can also be granted to companies that create 50 jobs for Omani nationals, or to foreign companies that nominate their partners and key employees. Announced by the Ministry of Commerce, Industry and Investment Development, the Golden Visa reflects the government’s commitment to creating a balanced investment environment that combines quality opportunities and long-term stability, underpinned by Oman’s fourth place in the 2024 Global Quality of Life Index.
In addition, Oman launched a construction digitalization initiative with four cooperation agreements, paving the way for the adoption of a national building code to support the growth of the real estate and infrastructure market. In addition, the Outstanding Companies initiative and the e-transfer of title deeds service on the Oman Business platform were introduced as part of the strategy to simplify business procedures and enhance competitiveness. Oman has shown impressive growth in its Foreign Direct Investment (FDI) inflows, which reached 12.1% of GDP in 2023, showing an annual growth rate of 10.6%, and total FDI stock stood at 30 billion Omani (US$77.9 billion) by the end of 2024. This growth is supported by active efforts to facilitate investment, particularly through the Invest Oman platform, which since its launch in February 2023 has already processed 90 investment requests worth ODK 5.38 billion (US$13.9 billion) and successfully localized 43 projects worth ODK 2.25 billion (US$5.8 billion) in strategic sectors such as healthcare, food security, industry and renewable energy.
In parallel, the country is accelerating its digital transformation, as demonstrated by the completion of over 800,000 transactions on the Oman Business platform in 2024. The introduction of 24 new e-services and their integration with 17 government entities has increased the coverage of e-services to 89%, significantly improving efficiency and transparency.
As part of Oman Vision 2040, the Ministry of Commerce, Industry and Investment Promotion is also actively collaborating with key partners such as OPAL, Sultan Qaboos University, German Technical University and Binaa for Professional Services, signing memorandums of understanding to implement advanced standards in construction, management support, transparency and the development of small and medium-sized enterprises. As noted by Ibtisam Ahmed Al Farooji, Undersecretary of the Ministry for Investment Promotion, these initiatives reflect national priorities aimed at improving the investment environment, enhancing its resilience and competitiveness, as well as building a diversified, knowledge-based and innovation-based economy.
Thus, by placing long-term residence, digital reforms and new investment avenues at the centre of its policies, Oman demonstrates a strong commitment to attracting international investors and creating a modern economy of the future.