2,000 benefit from Golden Visa push: Bahrain

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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.