Latest Gulf state launches 'golden residency' program to lure wealthy Americans

Countries across the globe are racing to attract foreign investors with "golden" visas.

Many wealthy Americans are seeking residences abroad for financial security and personal safety reasons. 

Oman has become the latest country to join the pricey trend, launching its "Golden Residency" program in exchange for foreigners investing $520,000 - or 200,000 Omani rials (OMR) - in property, bonds, companies or businesses that grow the workforce. 

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Officials announced the program on Sunday at the Sustainable Business Environment forum, reiterating their strategic push to deepen private sector growth, according to Gulf News.

Those who obtain the visa are also offered fast-track airport services and the option to own a property in areas not previously open to non-Omani ownership. 

"The Golden Residency is not merely a residence permit; it is Oman's commitment to creating a balanced environment that combines opportunity, stability and quality of life," said Nasima bint Yahya Al Balushi, Investors Services Center director general at the forum, Gulf News reported. 

Canada-based Mohamed Bennis, an associate vice president at Arton Capital, told Fox News Digital that many are realizing "true wealth" is measured by "freedom of movement."

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"Many Americans are realizing that a second residency or citizenship is the ultimate insurance policy against uncertainty," said Bennis.

"It provides them with almost unmatched mobility, flexibility and security in a world that is becoming increasingly unpredictable."

He said that the United Arab Emirates (UAE) is one country that is becoming increasingly popular for Americans seeking residency or citizenship through investment.

"The Middle East is no longer just a region for short-term postings or selective opportunities for the elite," said Bennis. "With Oman now joining the movement, it shows that the region is ready and confident to become a mainstream destination for expatriates." 

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"With a sizeable uptick in our requests from USA clients for the region, it was just a matter of time before Oman created its golden visa program."

He added, "[Golden visas] can open doors to privileges that money just can't buy: freedom of movement, security for your family and access to opportunities around the world."

"Whether for business, family or lifestyle, a second residency offers peace of mind and flexibility in an uncertain world," he said. 

"Oman's addition doesn't just broaden the competitive landscape; it underscores that the Gulf is embracing openness and long-term global integration."