Oman has launched a $520,000 Golden Residency program designed to attract wealthy foreign investors, particularly from the United States. The initiative requires participants to invest in property, bonds, or local businesses, thereby bolstering Oman’s private sector and workforce development. This move aligns with the country’s strategic goal of fostering economic growth and enhancing its appeal as a global investment destination.
The program offers significant incentives, including expedited airport services and the opportunity to own property in previously restricted areas. Officials emphasized that the Golden Residency is not just a residency permit but a commitment to creating an environment that offers opportunity, stability, and a high quality of life. This initiative comes amid a global trend where countries are competing to attract investment through such visa schemes.
Experts like Mohamed Bennis, of Arton Capital, note that many wealthy Americans are increasingly recognizing the value of second residencies or citizenship as a form of security against economic uncertainties. Bennis highlights that the Middle East, including Oman, is becoming a preferred destination for expatriates seeking stability, flexibility, and access to global opportunities. The introduction of Oman’s Golden Residency program underscores a broader regional shift towards openness and integration into the global economy.
The trend reflects a growing realization among high-net-worth individuals that true wealth involves more than financial assets; it encompasses mobility, security, and the ability to access diverse opportunities. Oman’s program is part of a wider movement where Gulf states are positioning themselves as competitive alternatives to traditional investment destinations like the United States and Europe. By offering such residency schemes, these countries are not only attracting capital but also fostering long-term international partnerships and enhancing their economic resilience.