Bahrain announced Monday that it would launch its Golden Residency Visa programme for residents and non-residents. The visa will allow for permanent residence to foreigners and their families in the Gulf country.
“The introduction of the Golden Residency Visa is designed to attract investors, benefit our businesses, and contribute to the provision of quality opportunities for Bahrainis. This programme will also provide deserved reward to those existing residents who have contributed significantly to Bahrain’s economy and society over many years,” Sheikh Hisham bin Abdulrahman Al Khalifa, Undersecretary for Nationality, Passports and Residency Affairs at the Interior Ministry said at a press conference held for the announcement, state news agency reported.
The new visa scheme serves the country’s strategy to attract more foreign investment and is part of a series of economic reforms announced by Bahrain’s government to improve the economy’s long-term competitiveness.
“By retaining and attracting those with talent, experience, and internationally renowned knowledge, the Government of Bahrain has adopted a dynamic approach as we emerge from the pandemic with reasons to be highly optimistic about the strength and growth of our economy,” Sheikh Hisham added.
Golden Residency Visa holders will be allowed to stay in the island kingdom indefinitely providing they continue to meet the programmes eligibility criteria. The residency extends to close family remembers and includes the right to work in the country.
To qualify for the programme, existing residents need to have lived in the island kingdom continuously for at leave five years and earned an average basic salary of at least BHD2,000 ($5,305) per month throughout the five-year period.
“The ‘Golden Residency Visa’ will be open to residents and non-residents alike, and is aimed at attracting investors, entrepreneurs, and highly-talented individuals who can contribute to Bahrain’s ongoing success,” Sheikh Hisham said.
Attracting expats in Bahrain
Golden Residency Visas are also available to residents and non-residents that:
- Own one or more properties in Bahrain worth at least BHD200,000 ($530,000), or retirees with an incomes of BHD4,000 ($10,600) per month or more.
- Are highly-talented individuals that meet relevant requirements.
- Reside in Bahrain for 90 days a year to ensure their visa continues to remain valid.
The news comes as countries in the Arabian Gulf relax visa rules to attract global talent and investment. The UAE began amending its visa rules in 2019, and now offers several different visa paths including its own Golden Visa, a Green Visa, which allows foreign residents to sponsor their families, and a freelance visa, which allows people self-employed to work without obtaining a work permit or employment contract.
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