Long-term residency benefits as an incentive for expats to make more investments in Oman
On Wednesday, the Sultanate of Oman awarded the newly launched card to 22 foreign entrepreneurs at a ceremony in Muscat.
Dr. Shamsheer, Chairman and Managing Director of VPS Healthcare, received a 10-year investor residency card from Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman.
VPS Healthcare operates Burjeel and Lifecare hospitals in Oman and owns 24 hospitals across the UAE and India.
“I feel very humbled and very privileged to receive the long-term residency card granted by the Omani government. This is a proud moment and I take this opportunity to express my sincere gratitude to the leadership of Oman and Qais bin Mohammed Al Yousef for giving them this honor.
The UAE government granted him the golden visa in June 2019.
The investor residency program in Oman is in line with the Sultanate's efforts to provide a boost to the economy through foreign investments.
According to the Ministry of Trade, Industry and Investment Promotion, the program aims to attract larger investments to diversify the economy and boost GDP growth.
Long-term residency comes with certain advantages and will act as an incentive for expats to make more investments in Oman.