Written by Nayla Barakat
Manama, February 7 (BNA) The Kingdom of Bahrain announced today the launch of the “Golden Residency Visa” for residents and non-residents, with immediate processing of applications electronically when the specified criteria are met.
This step is part of the Kingdom’s strategy that will serve as a catalyst to attract foreign investment.
A press conference was held at the Officers Club in Al-Qudaibiya, and Sheikh Hisham bin Abdulrahman bin Mohammed Al Khalifa, Undersecretary of the Ministry of Interior for Nationality, Passports and Residence Affairs, and Sheikh Ahmed bin Abdullah Al Khalifa, Assistant Undersecretary for Nationality, spoke with him. and Passports and Residence Affairs at the Ministry of Interior.
The golden residency visa is intended to attract investors, benefit our business, and contribute to providing good opportunities for Bahrainis. This program will also provide well-deserved reward to those current residents who have contributed significantly to Bahrain’s economy and society over many years,” Sheikh Hisham said at the press conference.
This announcement came within the framework of a series of economic reforms and initiatives launched by the government of Bahrain within the economic recovery plan, to enhance the competitiveness of the economy in the long term.
Sheikh Hisham added: “By attracting and attracting world-renowned talent, experience and knowledge, the Bahrain government has adopted a dynamic approach as we emerge from the pandemic for reasons that make us very optimistic about the strength and growth of our economy.”
“This golden residence visa will enhance and promote the continued development of business and the investment-friendly environment for which the Kingdom of Bahrain is already known.”
The “Bahrain Golden Residency Visa” will be available to eligible residents, allowing them to take advantage of the advantages of being permanent residents in Bahrain.
The “Golden Residence Visa” will be open to residents and non-residents alike, and aims to attract investors, entrepreneurs and talented individuals who can contribute to Bahrain’s continued success. “
Golden residence visa holders will see their visas renewed indefinitely, provided they continue to meet the eligibility criteria. They will enjoy benefits, including multiple entry and exit from the Kingdom of Bahrain without restrictions, residency for close family members, and the right to work in Bahrain.
To qualify for a golden residency visa, current residents must have resided in Bahrain continuously for at least five years and earned an average base salary of at least 2,000 Bahraini dinars ($5,305) per month throughout the five-year period. The long-term residence permit must be renewed indefinitely provided the candidate continues to meet the eligibility criteria.
In addition, the Golden Residence Visa will be issued immediately to applicants (both residents and non-residents) who meet the following criteria:
Owning one or more real estate in Bahrain with a value of not less than 200,000 Bahraini dinars (530,000 US dollars), or retirees with an income of 4,000 Bahraini dinars or more.
Be ‘highly talented’ individuals who meet the relevant requirements.
He must reside in the Kingdom of Bahrain for 90 days a year, to ensure the continued validity of the visa.”
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