Post by : Maya Rahman

The Kingdom of Bahrain has unveiled a significant decrease in the costs associated with its Golden Residency program, reducing it by 35% for foreign nationals. This adjustment is designed to enhance Bahrain's attractiveness as a prime destination for investment, business development, and long-term residency.

The Ministry of Interior's Nationality, Passports and Residence Affairs (NPRA) has lowered the minimum required real estate investment for the Golden Residency from 530,555 BHD (USD 200,000) to 130,000 BHD (USD 345,000). Individuals owning properties valued above 130,000 BHD can now apply for the sought-after Golden Residency Visa, which offers long-term residency and various privileges within the Kingdom.

This program extends beyond property owners; it also encompasses individuals who have been employed in Bahrain for a minimum of five years with a salary exceeding 2,000 BHD (USD 5,306). Retirees qualify if they have completed at least 15 years of service and earn a pension of no less than 2,000 BHD, or if non-resident retirees command a monthly pension that exceeds 4,000 BHD (USD 10,624).

Additionally, the Golden Residency is accessible to exceptional individuals such as entrepreneurs and highly skilled professionals who significantly contribute to Bahrain’s economy or society. The program provides holders with long-term residency, streamlined business establishment options, multiple-entry privileges, and the capacity to sponsor family members including spouses, children, and parents.

A pivotal feature of the Bahrain Golden Visa is its provision of permanent residency without any time constraints. Residents enjoy the freedom to live, work, and travel within the Kingdom, while also benefitting from 100% business ownership rights for expatriates. Bahrain’s appealing housing affordability, secure environment, digital readiness, and efficient online visa procedures enhance this residency experience.

The Nationality, Passports and Residence Affairs governs the Golden Residency Visa application process. Applicants must present documents such as a valid passport, proof of previous residency, a recent six-month bank statement, and a valid health insurance certificate within Bahrain. The non-refundable application fee stands at 5 BHD, with a residency issuance fee of 300 BHD per individual.

Officials anticipate that this reduction in Golden Residency fees will boost interest in premium properties while maintaining high standards for the program. This initiative reflects a comprehensive national strategy aimed at positioning Bahrain as a regional hub for investment, business ventures, and long-term residency.

By lowering the financial threshold, Bahrain is promoting a welcoming environment for more foreign investors, skilled professionals, retirees, and entrepreneurs. With these enhancements, the Golden Residency program now offers greater accessibility, improved benefits, and expanded opportunities for individuals aiming to live, work, and invest in Bahrain’s thriving economy.

#Business News