DUBAI: Bahrain on Monday said it was introducing a new type of permanent residency visa to attract and retain residents, foreign investors and talented individuals, the nation’s interior ministry announced on Monday.
The Golden Residency Visa will be renewed indefinitely and will give the right to work in Bahrain and residency for family members, a statement said.
“(The visa) is aimed at attracting investors, entrepreneurs, and highly talented individuals who can contribute to Bahrain's ongoing success,” Bahrain News Agency reported the Cabinet as saying.
In October, Bahrain announced a new economic growth and fiscal balance plan, including major infrastructure projects.
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 BHD2,000 ($5,306) per month.
Those who own properties above a certain value, and retirees and “highly talented” individuals who meet certain criteria will also qualify.
Gulf neighbor UAE 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.
