MUSCAT: Providing long-term residency to expatriates will help in attracting quality investments in the country, a top government official said on Monday.
Ibrahim Al Maamari, CEO of the Investment Services Center at Ministry of Commerce, Industry and Investment Promotion (MoCIIP)said the government will reveal details of the benefits of long-term residency in the coming days. “We will be announcing the details of the advantages of taking a long-term residency and also this will help in attracting quality investments,” Al Maamari said.
As reported by The Arabian Stories earlier, the Sultanate will grant long-term residency to expat investors for a period of 5 and 10 years, starting from September this year.
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In March this year, His Majesty Sultan Haitham Bin Tarik had approved the plan to offer long term visa status to expat investors as part of the economic stimulus package.
The long-term residency can be renewed after its expiry, while “adhering to the procedures and controls regulating this, in addition to supporting integrative efforts to enhance the investment environment in the Sultanate and attract qualitative investments according to clear controls,” a statement from MoCIIP said.
