Golden Residency: A crowning achievement

The Golden Residency Programme launched recently for investors aims to consolidate Oman’s position as a most attractive destination for long-term investment. The programme is also aimed at welcoming skilled professionals to the Sultanate of Oman to accelerate private-sector growth, support job creation and deepen knowledge transfer in line with Oman Vision 2040. It offers renewable ten-year residency for foreign investors and their families, providing stability and growth in a secure environment. The residency holders receive a ten-year residency that also covers first-degree family members without a cap on numbers or age.
The move will enhance Oman’s business environment, give a boost to the real estate segment, create employment and strengthen the Oman economy.
Emergence of AI and need for reskilling
The post Covid-era has disrupted business models the world over. Many conventional style businesses have closed down. Machine Learning, Robotics and Artificial Intelligence have transformed the way businesses are working. Transport and logistics have taken centre-stage. The World Economic Forum predicts that, though 92 million jobs across industries may be eliminated, 170 million new roles are expected to emerge. According to McKinsey, the real challenge lies in closing the gap between jobs set to be made redundant by change and the emergent ones.
Implementing AI is not just about technology; it is also about transforming people and rethinking how we approach talent, skills, roles and organisational culture. The true impact depends on how people understand, adopt and apply the new technology (AI). Implement AI as a talent enhancer and you will boost efficiency, speed and employee engagement.
Re-skilling is essential to prepare for a rapidly changing world, requiring agility and a culture that supports continuous adaptation. This is where the vision of our leadership is to be appreciated at this juncture for embracing technology and attracting skilled professionals to the Sultanate of Oman, to accelerate private sector growth, enable the reskilling of our existing workforce and to boost efficiency, speed and employee engagement.
This requires huge investments and import of highly skilled technocrats. The 10-year Golden Residency Programme, with its multiple benefits, is a crowning achievement in Oman’s efforts to attract global talent. It is designed to reshape Oman’s investment landscape and act as a catalyst to the economic growth, within the framework of Oman’s national directions to enhance and sustain a competitive investment environment. It is one of the key pillars for building a diversified economy founded on knowledge and innovation, fully aligned with the aspirations of Oman Vision 2040.