Permanent residency by real estate investment

Anyone has any experience or information about obtaining a permanent residency in Bahrain by buying real Estate ? From the information I collected the property value should not less than 50.000 BHD? Is it an easy process? Are there other important expenses ? Anyone went through it ?
Many thanks in advance

I am going through this process right now.

Yes, the property should not be less than 50K BD. 

The purchase process is relatively easy.  Don't forget that you will pay 1.7% to 2% of property value to get the title deed from SLRB and an addition 1% for real estate agent commission.

I haven't gone through the visa process myself yet; But I will, in a few months and then will post back.  But based on my research, it is taking anywhere from 1 to 6 months to get the visa nowadays.

Thanks a lot, this is good to know. Would appreciate if you keep me posted on any tips as you go along the processs , am very interested too. Thx again

By the way I understand it is a permanent residency that you can hold as long as you are holding the property right? Is it the same as self sponsorship? Is it available to all expats regardless where they work? Sorry for so many questions

Sure will do.  I do know what the process is in quite a bit of detail but when I go through it myself, I will post a sticky on the forum.

Demi69 :

By the way I understand it is a permanent residency that you can hold as long as you are holding the property right? Is it the same as self sponsorship? Is it available to all expats regardless where they work? Sorry for so many questions

It is and is not a permanent residency i.e. as long as you hold the property, you are entitled to a residence visa.  However, that visa is given in the form of a 2 year, 5 year or 10 year RP which is renewable for lifetime.  That means that you DO have to renew it from time to time.

It is available to all expats.  But once you have this visa stamped, you CANNOT work in Bahrain.  So I will only advise this for people who, say, work in Saudi and want to live in Bahrain i.e. exactly like me.

Ok , interesting..did not know that..thank you and good luck with the rest of the process.

Terms and Documents Required for Property Owners

1. The applicant may be a foreigner who has purchased property in his name, worth not less than 50,000 BHD.

2. The applicant must have a Bank Deposit Certificate for not less than 15,000 BHD in the name of the applicant in one of the banks or financial institutions with a working license in the kingdom.

3. The applicant must have a regular income of not less than 500 BHD per month, to cover his living expenses.

4. The applicant must not work for the public or private sector in Bahrain.

5. Service request form.

6. A valid certificate of health insurance issued from the Kingdom of Bahrain

7. A copy of the applicant’s card or his legal representative

8. A clear copy of passport.

9. A clear copy of ID.

10. Certificate of good conduct deed.

Thanks for that but that is outdated even though its from NPRA website.

As an example, the requirement for the deposit has been dropped since last year. Also the good conduct certificate is for people outside the Kingdom plus not followed as there is a separate security clearance before property purchase.

That's why I said I will post a sticky after as the information you get on google is horribly outdated and doesn't answer a lot of specific questions.  Trust me on this ie there are a lot of complications which even seasoned PROs are confused on - you hear different answers.

Dear,

this point is confusing, to show income in Bahrain at least BD 500. They will not allow working in Bahrain. How it could be possible or simple work out of Bahrain and live in Bahrain same as suggested in earlier.

Income of 500 BD a month is through investments in Bahrain or outside OR work outside Bahrain. Its simple. This permit allows you to live in Bahrain but not work here.  Basically its for people who work outside Bahrain or are wealthy :)

For example, I work outside Bahrain and earn a lot more than 500 BD plus I have dividend income through investments of more than 1000 BD so am eligible.

Hope this law will change and they will allow people to obtain residency and work in BAH..there is no harm in my opinion , let’s see

I don't think it will change. Many countries round the world have the exact same law e.g Malaysia and even most of the schengen countries with golden visa programs etc.

What you have to understand is that this option is for wealthy people or people who work outside of Bahrain but want to live here. Its not for people who want to work and live in Bahrain.  The thinking behind this visa is that you are wealthy enough to invest in the country plus can live here off your own means.  Why would they want to give this visa, allow you to work and thus create parallel competition for work visa holders & nationals - that is a recipe for disaster.   So pretty much everywhere in the world, this visa allows you to only live in the country. 

Unfortunately, that's the way it is. Every country wants to attract wealthy investors who can support themselves without needing to compete in the local market or recourse to state funds. There is no incentive to bring in people who are not wealthy.

That is why I have already stated above that this option is ONLY worth it for people who don't work in Bahrain i.e. don't need to work at all or work in other parts of the GCC or the world.   For example, for myself, I work in Saudi and this is a good option for me to get visas to live in Bahrain without dealing with the hassle of setting up and keeping a company running.

Mahesh De silva :

Terms and Documents Required for Property Owners
2. The applicant must have a Bank Deposit Certificate for not less than 15,000 BHD in the name of the applicant in one of the banks or financial institutions with a working license in the kingdom.

Update, I looked at the NPRA site today and they have apparently updated the requirements.  So the 15,000 BHD requirement in this point has finally been deleted.

XTang, how are you getting on with your property purchase and visa hassle?

Still consider this as plan B in the long run...

See the sticky on this - I updated it.  Yep, I got my 10 year visa and now liquidating my company.

Ah, must have missed the sticky.
Apologize, will have look and congrats on your success!

Thanks.

Here you go for the sticky:

https://www.expat.com/forum/viewtopic.php?id=844334

Thanks for your experience!

Guys, there is a similar question, but related to the United Emirates. I know that in this country there are a lot of strict rules, is it possible for me to get a permanent residence when buying real estate? I found a good option for a Dubai Hills Grove apartment at [url][link moderated] . I need to  decide fast , as it can be quickly purchased.

Well ideally you should post this on the UAE forums.  But in any case, here goes:

1) There is no such thing as permanent residence in this part of the world for expats (excluding Saudi premium residency but that is also arguable) :).  Basically there is no visa that is for an indefinite period.  You can get a visa which you can keep renewing IF you keep the property.  And this visa DOES not allow you to work in the country
2) The UAE gives 3 and 5 year visas for property purchase.  The minimum property purchase value requirement is 1 mn AED for the 3 year and more than 5 mn for a 5 year visa
3) I can't see your link but the property HAS to be ready property for the visa.  It can't be off plan

Lastly, have a look at the sticky below where I have compared (later in the post), the programs of UAE, Bahrain and Saudi.  In my personal view, the UAE program is overpriced.

https://www.expat.com/forum/viewtopic.php?id=844334

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