The Ministry of Housing and Urban Planning has issued Ministerial Decision No. 58/2022, granting significant benefits to non-Omani investors regarding property ownership in Oman.

Key points of the decision include:

Eligibility for Residency Cards:
– Non-Omani investors can now apply for a first-class residency card if they purchase residential property worth at least OMR 500,000.

– For those purchasing property worth OMR 250,000 or more, a second-class residency card is available.

– The property must be in areas where foreign ownership is permitted.

Property Ownership:
– First-class residency holders are allowed to own one property for residential, commercial, or industrial use outside the designated areas for foreign ownership, as long as the property is not located in restricted zones, as outlined by Omani law.

Effective Date:
– The decree was issued on 3rd March 2022 and came into effect the day after its publication in the Official Gazette.

This new regulation offers a great opportunity for non-Omani investors seeking long-term residency and property investment in Oman, with clear guidelines and attractive benefits for both first and second-class residency holders.

For more information on how to take advantage of these new regulations, feel free to contact us at Dak Real Estate.