The Kingdom of Bahrain has been the best place among GCC for expats to live and work across Bahrain, Qatar, the UAE, Oman, Saudi Arabia and Kuwait for this reason many foreign investors and professionals look for ways to establish themselves in the kingdom.
In the process, the Kingdom has launched several initiatives and the latest being the Golden Residency Visa Programme to attract foreign investment and top talent to boost the economy.
The new visa scheme was launched recently in February 2022 with the purpose to offer long-term residence visa for individuals and their families. Therefore, there are many benefits of the Golden Visa.
What is Bahrain Golden Residency Visa Programme
A Golden Visa is an international visa program where an individual can apply for a permanent residence in a streamlined fashion. The legal document grants long-term residency to foreigners up to 10 years.
The most common one is the Bahrain employment visa, where an employee gets sponsored by an employer and receives a residency that is valid for 2 o 3 years. However, the most interesting aspect about the Bahrain Golden Visa is that it offers residency for 10 years.
Benefits of the Bahrain golden visa
With the Bahrain golden visa, an individual can receive the following benefits
- Long-term residency(for 10 years)
- 30% lower cost of living than other Gulf countries
- 50% lower cost of establishing and running a business than other Gulf countries
- Residency for close family members
- Right to work in Bahrain
- Visa renewed indefinitely
What is the purpose of the Bahrain golden visa?
The Bahrain government has launched the golden visa to attract investors, talent and boost the economy in turn rewarding the existing residents
Who can apply for the Bahrain golden visa?
Golden Residency Visas are available to residents and non-residents, however, they have to meet the below eligibility criteria
For existing residents
- Existing residents must have resided in Bahrain continuously for at least five years
For residents and non–residents
- Earned an average basic salary of no less than BHD 2,000 ($5,305) per month throughout the five years.
- Own one or more properties in Bahrain worth at least BHD200,000 ($530,000) or retirees with an income of BD 4,000 per month or more.
- Are highly-talented individuals that meet relevant requirements
- Reside in Bahrain for 90 days a year to ensure their visa continues to remain valid
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