The Middle East is competing for wealthy expats with a surge of ‘golden visas’

The race to attract foreign capital and talent across the Middle East is heating up, with Gulf countries unveiling long‑term residency programs, commonly known as golden visas.

Oman became the latest Gulf state to join the trend on Sunday, launching a 10-year “Golden Residency” for foreigners investing 200,000 Omani rials, or about $520,000, in property, bonds, companies, or businesses that generate jobs.

The offer includes automatic residency for first‑degree family members, fast‑track airport access, and the right to own property beyond designated tourism zones.

This move aligns with Oman Vision 2040 — an economic diversification plan similar to Saudi Arabia’s much-discussed Vision 2030 — designed to wean public finances off oil and stimulate its agriculture, manufacturing, tourism, and logistics sectors.

Across the Gulf, falling global oil prices are squeezing government budgets and accelerating diversification efforts.

In July, economists at BNP Paribas forecast that Brent crude will average around $65 per barrel in 2025-26, down from nearly $80 in 2024, leaving some of the region’s oil-revenue-dependent economies more vulnerable.

How Oman stacks up against regional and global rivals

Oman’s Golden Residency fits neatly into this broader context.

For comparison, the UAE’s golden visa also offers decadelong residency, with entry thresholds typically in the $545,000 range for real estate investments.

Saudi Arabia’s Premium Residency can be secured through a one-time payment of about $213,000 or via renewable annual permits costing about $26,700 a year. Additional investor and property pathways start at $1.07 million and $1.86 million, respectively.

Qatar grants long-term residency permits to foreigners who invest at least $200,000 in real estate, rising to around $1 million for permanent residency privileges, and Bahrain introduced a 10-year golden residency in 2022 for property buyers investing at least $530,000, as well as for high-earning professionals and retirees.

Meanwhile, in Europe, Portugal recently replaced its real estate option with a fund investment of at least $585,000, while Greece’s golden visa requires at least $937,000 in real estate investment in specific high-demand locations — placing Oman’s $520,000 golden residency plan squarely in the middle of the global pack on entry price.

Golden visas are already showing results in the Middle East. According to the Henley Private Wealth Migration Report 2025, the UAE is projected to attract around 9,800 millionaires this year — the largest inflow globally — thanks in part to its residency framework, tax regime, and political stability.

By contrast, President Donald Trump has proposed a $5 million “gold card” visa that would grant green card privileges and a route to citizenship in the US.

Analysts have questioned whether even the wealthy would pay such a steep fee outright, especially when rival programs in the Gulf and Europe cost a fraction of that amount and often allow applicants to invest funds rather than hand them over as a fee.

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