To woo talent and attract investment, Bahrain introduced a golden permanent residency visa from Monday.
The Golden Residency Visa, announced by the Interior Ministry, will be renewed indefinitely, include the right to work in Bahrain, unlimited entry and exit and residency for close family members, the Reuters reported.
“(The visa) is aimed at attracting investors, entrepreneurs, and highly talented individuals who can contribute to Bahrain’s ongoing success,” the statement said.
The announcement comes amidst a series of economic reforms and initiatives the country has implemented, such as the Economic Recovery Plan, the report added.
There are prerequisites to get the visa. The person should have resided in Bahrain for at least five years and his/her average salary should be at least BHD2,000 (Dh19,490) per month.
Those who own properties above a certain value, and retirees and “highly talented” individuals who meet certain criteria will also qualify, the report underlined.