Oman extended visa validity for all expats until December without additional fees for visas issued this year. Meanwhile, new visas are allowed since the travel ban was lifted. However, vaccination has been made mandatory to renew the visa.
Applicants must have at least the first jab of a vaccine against the Covid-19. All vaccines are accepted, except India's indigenous vaccine Covaxin which hasn't been approved yet.
For those who have valid visas but have been outside the country for more than six months, it is necessary to request the extension to the end of the year by sponsoring (an employer or a company dedicated to assisting with that facilitation service).
Investors and families
The Sultanate of Oman has decided to grant special residency to investors and their families for a period of 10 years for a fee of OMR 500 ($1300) and OMR 300 ($800) for a five years one.
The Royal Oman Police issued a law project together with the executive regulations of the Foreigners Residence Law, which states that visas will be granted to foreign investors interested to develop business in the country, with formal certificates to prove that willingness. The granted visa must be used within one year from the date of its issuance, and it can also be issued to the spouse of the foreigner investor in the Sultanate and his first-degree relatives upon request.
How the Investor Visa works
Although the Sultanate's decision is to allow a five or ten-year visa for investors, after issuing, the document is only valid for a period not exceeding one year. However, it is subject to extension for a similar period based on the approval of the competent authority. Visas should be renewed every three years and the renewal fee for the residence permit joining an investor for 10 years is OMR 100 ($260), while for an investor interested in staying for five years is OMR 50 ($130). For the Investor Visa, age requirements won't apply, neither influence the process.
Why work and invest in Oman?
Oman is one of the best countries for expats to work in the Gulf Cooperation Council and the world, overpassing the United Arab Emirates, which also has a 10-year-long residency visa available for investors from abroad. However, in the UAE expats must have at least AED 10 million (2.8 million dollars) to invest in the country, either through a deposit, investment fund inside the country, or establishing a company in the UAE with a capital of the same amount.
Oman, on the contrary, could be a better option not only for having a lower deposit (1.3 million dollars) but also for its lower cost of living, quality of life, job prospects and family-friendliness. Moreover, Oman is considered one of the safest countries to live in, according to the global crime index.
The country's economy is heavily dependent on its oil reserves, natural gas reserves, having great employment rates. Additionally, the Sultanate government is investing in other sectors like construction, education, healthcare and tourism. Another reason why people search for opportunities in Oman is its generous salary packages and tax-free income. Gulf countries usually have this characteristic. However, the overall cost of living in Oman is low compared to popular cities like Dubai, making it an ideal job and investment destination.
As an investor, the location of the country is also a criterion when looking for a place to move abroad. Oman fits well in this point as it is connected to the rest of the Middle East, Asia, Africa, and Europe via not so long air transport. Most countries are nearby, which means that expats can reach beautiful and potential business destinations in a day or even in a couple of hours. With great salaries and easy connectivity to various international key destinations, living in Oman gives investors and expats lots of opportunities to grow. An interesting fact about Oman is that most workers are foreign residents, and the international community is quite huge, which might be helpful when settling down in a different country with a new culture.
For investors and expats who move to Oman with their families and children, there are international schools that teach in English and also provide Arabic lessons. Indeed, moving abroad with family anywhere can be very challenging due to many reasons as not being around relatives, the language barrier, the weather and so on. But, on the other hand, Oman seems to be a good place to raise a family as it is a safe and welcoming country, with many people from abroad.
