Bahrain launched the new creation in their visas process in which they created a long term visa for foreigners and took this step so that they can “boost their economy”, and they are also following the footsteps of other Gulf countries.
With just over half of its 1.7 million population made up of foreigners, Bahrain is a hub for professional immigrants, as much of the Gulf region.
As they are violating oil prices, many of the region’s countries have sought to diversify their economies away from dependence on fossil fuels. They have, in turn, relaxed immigration procedures in a bid to attract talent.
According to the interior minister, “Dubbed the “golden residence,” they will provide visas to them who is earning more than 2000 dinars (at least 5300 dollars) or to the pensioners who are taking pension of 4000 dinars.
The ministry added that those who own properties that have a value of at least 200,000 dinars are also qualified to receive the golden residence and “talented” individuals.
By getting the visa, they got access in which they can stay in the country for ten years in the kingdom, which can be renewed “indefinitely”, provided specific criteria are met.
“The golden residency, which comes within the economic recovery plan… will contribute to improving the competitiveness of the Kingdom of Bahrain and supporting development paths,” the ministry said, adding that it would “attract talent”.
The United Arab Emirates similarly took this move, and they took this move two years back in 2020 in which they declared the certain “golden residence” of ten years for doctors, PhD holders and engineers.
This was also followed by the “green visa” in September 2021, in which UAE residences have access to work without any work permit or sponsorship by their employers, in what is known as the “kafala” system that is common throughout the region.
Besides this, Qatar, a gas-rich nation, also declared at the end of 2020 in they gave the access of “right to residence” to the property or business owners.
Oman also declared in the summer of 2021 a long-term residence permit for investors in order to boost its economy.