The middle East has been opening up to the world. To attract foreigners they have taken a lot of measures. UAE is the only country that offers and issues Golden Visas to eminent personalities. Bahrain has also introduced the golden visa to attract foreigners.
— Qatar Tales (@QatarTales) February 8, 2022
Many countries in the world have introduced the GOLDEN VISA. Among them are:
Middle Eastern Countries that introduced Golden Visas
A lot of Middle Eastern countries have offered golden visas depending on the condition which differs from country to country.
- UAE: In 2020, offered a ‘golden residency’ of 10 years for doctors, Ph. D holders, and engineers. In 2021, they also issued a ‘green visa’ which allows the residents to work without direct visa sponsorship by their employers(Kafala System).
- Qatar: In 2020, announced that ‘property or business owners would be allowed the right to residence permits’.
- Oman: in 2021, announced ‘a long-term residence permit for investors in a bid to boost its economy.’
Bahrain offers Golden Visa
According to the Interior Ministry of Bahrain, Golden Visa was introduced to attract foreign professionals and highly talented individuals so that they can be retained. Once renewed, it would be for an indefinite time. It will also give a right to work and keep the family as well. They said, “(The visa) is aimed at attracting investors, entrepreneurs, and highly talented individuals who can contribute to Bahrain’s ongoing success. The golden residency, which comes within the economic recovery plan… will contribute to enhancing the competitiveness of the Kingdom of Bahrain and supporting development paths.”
Last year it had announced a plan to spur its economic growth and balance its finances. It has also proposed new infrastructure projects which will create The trend of the Gulf States to offer golden visas is to attract investment. They are offering flexible and long-stay visas, job opportunities for foreign investors and foreigners. Usually, the visas in Gulf are just bound to the jobs, which limits the stay for the foreigners.
Requirement for Golden Visa
To qualify for Golden Visa the residents have to fulfill the following requirements:
- Resided for at least 5 years
- Average Salary of Bahraini Dirham 2000
- Individuals having high valued properties (200,000 dinars)
- Retired people
It is a good initiative that they are opening up to the world. This will help in promoting diversity inclusivity.