MUSCAT: More expatriate investors in Oman will receive the Investor Residency Card (IRC) in the coming weeks, the country’s Minister of Commerce, Industry and Investment Promotion said.
Oman on Wednesday granted long-term residency visas to 22 expatriates from different nationalities.
His Excellency Qais Mohammed Al Yousef these expats have invested in the Sultanate for long durations and in different quality economic sectors. “More applications will be sorted out next week,” the Minister confirmed.
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“One of the most important factors that prompt investors to choose the Sultanate as a preferred destination is the country’s ideal location in the vicinity of flourishing international trade routes in the Middle East, East Africa and India. This is in addition to the existence of a vibrant logistics network capable of reaching out to the largest segment of consumers at competitive cost. Modern ports and other infrastructure facilities add to the factors that lure investors to the Sultanate,” Al Yousef explained.
Starting from October 3, expat investors can submit applications through the portal of the Ministry to obtain long term residency. Among the 22 investors who were granted IRC include MA Yusuff Ali, Chairman of Lulu Group International, Dr. Shamsheer Vayalil, Chairman and Managing director of VPS Healthcare, Stephen Thomas, Chief Executive Officer of Renaissance Services, Dr. P Mohamed Ali, Founder of Galfar Engineering and Kiran Asher, Co-Founder and Managing Director of Al Ansari Trading.
