Golden Visa For Bahrain
Remember the deal to grant visa-free entry to the Schengen Area for travelers who had $2 million in bank deposits? Bahrain introduced a Golden Visa program in 2016, which gives residence permits to holders of investments and bank accounts issued in products specifically designed for the purpose. This is a program whereby investors can obtain a permanent residency visa with minimum fuss and maximum rewards.The Golden Visa (Residence Permit) issued by the Kingdom of Bahrain is often referred to as a residence by investment. A one-time payment of BD 25,000 will grant you permanent residency and several free incentives; free business visa, free ability to open an offshore bank account, ability to open online businesses from Bahrain.
Golden Visa For Bahrain
The Golden Visa is a residence permit issued by the Kingdom of Bahrain to non-Bahraini investors. It waives the requirement for visa to enter the country for a lifetime for the applicant, his/her spouse, and dependents. On top of this, it provides some tax incentives to foreign investors who are interested in starting a business in Bahrain.The Golden Visa is available to individuals who make investment in Bahrain with a minimum amount of $500,000. Also, up to $250,000 can be used for purchasing property.The Royal Decree No. 100/2011 was signed on 12th November 2011 by His Majesty King Hamad bin Isa Al Khalifa of Bahrain. It grants non-Bahraini investors the opportunity to acquire a Residence Visa through the purchase of real estate valued up to USD 250,000.
The Government of the Kingdom of Bahrain has recently announced a strategic projects plan and a regulatory reform package aimed at supporting direct investment into the Kingdom of Bahrain by 2023.
In line with its strategic policies, Bahrain has launched a new 10 year Golden Residency Visa (Golden Visa) which provides expatriates and foreign investors the opportunity to reside in the country on a permanent basis.
In order to qualify for the Golden Visa, current residents must have:
- Resided in Bahrain for not less than five years; and
- Earned a monthly basic salary of not less than BD2,000 (US$5,300) during the previous five years of their residency in Bahrain.
Other qualifying criteria for the Golden Visa include:
- The ownership of one or more properties valued at not less than BD200,000 (US$530,000); or
- Retiree with a monthly income of not less than BD4,000 (US$10,600); or
- Highly talented individuals such as artists, athletes and healthcare workers who meet the relevant criteria.
Once obtained, the Golden Visa will grant its holder many advantages including the right of residence in Bahrain, the ability to hire domestic assistance, the right to work upon obtaining the necessary work approvals and the right to obtain visas for dependents.
Holders of the Golden Visa will have their residency renewed indefinitely once every 10 years provided they continue to meet the qualifying criteria, one of which is remaining in the Kingdom for 90 days in any 12 month period.
The Golden Visa will be issued on an immediate basis for suitable applicants and will cost BD300 (US$795). It can be obtained through the e-Government Portal and we expect additional details for the Golden Visa to be published within the coming months.
The introduction of the Golden Visa is designed to attract investors and contribute to the provision of quality opportunities for Bahrainis.
“This programme will also provide deserved reward to those existing residents who have contributed significantly to Bahrain’s economy and society over many years,” said Shaikh Hisham bin Abdulrahman bin Mohammed Al Khalifa, Undersecretary for Nationality, Passports and Residency Affairs at the Interior Ministry.
2,000 benefit from Golden Visa push: Bahrain
The long-term visa for non-Bahrainis is part of Bahrain’s Economic Recovery Plan, to attract global talent and boost investment
Staff Writer, Gulf Daily News
June 6, 2022
Around 2,000 expatriates have benefited from the Golden Residency Visa Programme since it was launched in February this year, revealed a top minister.
The long-term visa for non-Bahrainis is part of Bahrain’s Economic Recovery Plan, to attract global talent and boost investment.
Details were revealed yesterday during the Economic Recovery Forum organised by the Shura Council in collaboration with the Bahrain Institute of Banking and Finance (BIBF) at its headquarters in Bahrain Bay and supported by the National Bank of Bahrain (NBB).
“More than 1,800 individuals have benefited from the Golden Residency Visa Programme which was launched on February 7 this year,” said Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa during the forum.
“The initiative aims to elevate and enhance the investment environment across various sectors which supports the national economy and is in line with the government’s aspirations and Bahrain’s Economic Vision 2030.
“It also aims to attract talented individuals in various economic, investment and service fields while giving them the opportunity to permanently reside in Bahrain along with their families.”
The 10-year Golden Residency Visa is open to four categories – residents, retirees, property owners and talented individuals in various fields who can contribute to Bahrain’s ongoing success.
The initiative was launched by the Nationality, Passports and Residence Affairs (NPRA) to allow residents and other categories to permanently reside in the kingdom.
To qualify for the special permit, existing residents must have continuously resided in Bahrain for at least five years and earned an average basic salary of BD2,000 monthly or more throughout the five-year period.
For retirees, they need to submit a salary proof of BD4,000 or more while highly-talented individuals need to submit a certificate proving their skill set that will be vetted by special committee.
In the case of expatriate property owners, the title deeds of their property should be of a total value that is not less than BD200,000.
A valid health insurance is mandatory for all categories applying for the Golden Residency Visa Programme and those granted the special visa must stay in Bahrain for 90 days a year to ensure the permit remains valid.
Those interested can visit bahrain.bh to apply for the permit and the fee is BD300 per person and a non-refundable BD4 application fee.