Post by : Maya Rahman

Bahrain has announced a reduction in the minimum investment required for its Golden Residency Visa, designed to make long-term residency more feasible for foreign investors. The Nationality, Passports, and Residence Affairs (NPRA) department at the Ministry of Interior revealed this change as part of an initiative to attract global talent and investment. This move is aligned with Bahrain's goal of establishing itself as a prominent center for business and residence in the Gulf region. Authorities anticipate that this adjustment will heighten interest in premium properties while ensuring the ongoing exclusivity and quality of the Golden Visa program.

Shaikh Hisham bin Abdulrahman Al Khalifa, Undersecretary for NPRA, emphasized the commitment of the government to foster a stable and inviting atmosphere for investors pursuing long-term ventures. “This reduction in threshold will enhance the program’s attractiveness while maintaining its standards and exclusivity,” he explained. As reported by local news sources, the requirement for property investment has decreased from BHD 200,000 (approximately US$530,555) to BHD 130,000 (approximately US$345,000), reflecting a 35% reduction.

The updated criteria broaden the scope of eligible applicants. Property investors who meet the BHD 130,000 benchmark are now qualified, as well as professionals earning at least BHD 2,000 monthly with five years of employment in Bahrain. Retirees with pensions above BHD 2,000 and non-resident retirees with pensions over BHD 4,000 are also included. Furthermore, entrepreneurs, skilled workers, and those making contributions to the national economy or society are welcome to apply.

The Golden Residency Visa grants multiple advantages, including lifetime residency, work flexibility, unlimited entry, family sponsorship rights, and full ownership of businesses. To apply, candidates must submit a valid passport, six months of bank statements, health insurance, and proof of residence via the NPRA portal. Fees consist of BHD 5 for submission and BHD 300 for visa issuance.

Market analysts suggest that these revised regulations will not only expand Bahrain’s pool of investors but also invigorate the real estate market, solidifying the kingdom’s status as a prime destination for residency and investment in the Gulf. With these adjustments, Bahrain seeks to welcome more international investors, drive economic growth, and enhance opportunities for families and professionals looking to settle long-term in the country.

#Business News #GCC News #Gulf News #Bahrain News