Platinum residency permit holders will be allowed to own properties: Bahrain

PHOTO

NON-BAHRAINI residents holding a platinum residency permit will now be allowed to own real estate properties in designated and non-designated areas.

However, the Justice, Islamic Affairs and Endowments Minister has the power to ban such RP holders from owning properties in certain areas, following approval from HRH the Crown Prince and Prime Minister.

The GDN reported yesterday that His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, issued Edict No. 47 of 2023 granting an entry visa and a platinum residence permit to residents provided they have lived in Bahrain for at least 15 years, have good behaviour and have never been convicted of a felony or misdemeanour involving breach of honour or trust, even if they have been rehabilitated.

The edict applies to residents whose average basic salary is BD4,000 or more, during the last five years of their residency.

HRH the Crown Prince and Prime Minister also issued another edict amending Article 1 of an earlier edict designating the areas where non-Bahrainis may own real estate properties.

Edict 48 of 2023 sees Article 1 of the executive by-laws issued in 2003 to the 2001 Non-Bahrainis Ownership of Property and Plots Law amended.

In 2003, the government imposed restrictions that limit this right to certain locations – such as Hoora, Abu Ghazal in Manama, Al Fateh District in Juffair, the Diplomatic Area, Reef Island and Seef.

Expats can also buy properties at designated investment projects such as Amwaj Islands.

Gulf nationals and expat inheritors are considered Bahrainis under all laws.

The same rules will also apply on property passed to GCC nationals through a will or inheritance.

A decree was issued in 2020 amending the law to impose new restrictions on GCC nationals owning property in Bahrain.

Any future rules and regulations have to be determined by the High Urban Planning Committee, chaired by HRH the Crown Prince and Prime Minister under the decree.

The amendments were introduced to reorganise the real estate sector in the country – but without violating the rights of GCC nationals.

However, details published in the latest Official Gazette states that the Justice, Islamic Affairs and Endowments Minister can still prevent holders of the new platinum residency permit from owning properties in specific areas.

Edict 48 of 2023 became applicable from yesterday after being published in the Official Gazette.