DUBAI: Bahrain has introduced a new permanent residency visa to attract talent and investment by offering more flexible and longer-duration visas amid regional economic competition.
The Golden Residency Visa will be renewed indefinitely, include the right to work in Bahrain, unlimited entry and exit, and residency for close family members, announced the Interior Ministry. “(The visa) is aimed at attracting investors, entrepreneurs, and highly talented individuals who can contribute to Bahrain’s ongoing success,” the statement said.
Foreigners in Gulf states have traditionally had renewable visas valid for just a few years tied to employment limiting their stay. With just over half of its 1.7 million population made up of foreigners, Bahrain is seen as a hub for professional expatriates, like much of the Gulf region.
The move is part of measures the small Gulf state is taking to resolve its heavily indebted finances. In October, Bahrain announced a new economic growth and fiscal balance plan, including major infrastructure projects.
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To qualify for the visa, a person must have resided in Bahrain for at least five years and earned an average salary of at least BHD 2000 ($5,306) per month. Those who own properties worth at least 200,000 dinars are also eligible to receive the golden residency, as well “talented” individuals who meet certain criteria will also qualify.
“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,” the ministry said, adding that it would “attract talent.”
Gulf neighbour United Arab Emirates has, over the past couple of years, introduced longer-duration and more varied visas, and the chance to be granted Emirati citizenship, in a bid to retain professionals and their families.
In late 2020, UAE also announced the creation of a “golden residency” of 10 years for doctors, PhD holders and engineers. This was followed by the “green visa” in September 2021, which allows UAE residents to work without direct visa sponsorship by their employers, known as the “kafala” system.
Similarly, gas-rich Qatar announced in late 2020 that property or business owners would be granted the right to residence permits. Oman also announced in the summer of 2021 a long-term residence permit for investors in a bid to boost its economy.
