Oman to issue long-stay visas to foreign investors

Oman to issue long-stay visas to foreign investors


Highlight:

  • The lease price for land in industrial areas has been reduced to 2022.
  • The new decision was taken at the cabinet meeting

Oman: Oman has decided to issue long-term visas to foreign investors with the aim of promoting investment and industry. The decision was taken at a cabinet meeting chaired by Sultan Haitam bin Tariq.

The Kovid pandemic and low oil prices have created a major financial crisis in Oman. Large concessions have been given to companies operating in industry, tourism, agriculture, fisheries and mining. Taxes and fees were reduced for companies and institutions. In addition, the government has prepared several other schemes.

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Income tax on small and medium enterprises has also been slashed. The lease price for land in industrial areas has been reduced to 2022. The aim now is to create jobs for job seekers. The Cabinet has not announced the criteria for granting long-term visas to foreign investors. New announcements about it will be made later.

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