Muscat – Ministry of Commerce, Industry and Investment Promotion (MoCIIP) will launch a new programme for investors called Golden Residency on August 31 as part of efforts to attract foreign capital and enhance the business environment.

The announcement will be made at an event in Salalah organised by the ministry under the theme ‘Sustainable Business Environment’. To be held at Sultan Qaboos Youth Centre for Culture and Entertainment, the event will be presided over by H H Sayyid Marwan bin Turki al Said, Governor of Dhofar.

In addition to the Golden Residency programme, MoCIIP will introduce another called ‘Elite Companies’ to support high-performing Omani firms and launch a new commercial registration transfer service through the Oman Business platform.

The event will include the signing of cooperation agreements with Sultan Qaboos University, German University of Technology, Oman Energy Association and eBinaa Professional Services to support development in the construction sector.

Mubarak bin Mohammed al Dohani, Director General of Planning at MoCIIP and head of its digital transformation team, said these efforts aim to consolidate Oman’s position as a competitive global investment destination. “The goal is to provide a stable and stimulating business environment that offers investors opportunities for long-term growth and stability,” he said.

Dohani added that the Elite Companies programme will help Omani firms expand locally, regionally and internationally through incentives and facilities, while the digital certification service for commercial registration transfers will reduce time and costs for investors.

Oman already offers two tiers of investment residency permits. Under Tier One, investors must commit at least RO500,000 in a company, government bonds or property, or establish a business employing 50 Omani nationals. This residency is valid for ten years and costs RO551.

Tier Two requires an investment of at least RO250,000 in a company or property, or allows expatriates residing in Oman to retire in the sultanate with proof of a fixed monthly income of no less than RO4,000. This permit is valid for five years and costs RO326.