Around 2,000 expatriates have benefited from the Golden Residency Visa Programme since it was launched in February this year in Bahrain, revealed Finance & National Economy Minister Salman bin Khalifa Al-Khalifa at a forum titled “The Road to Economic Recovery”.
The long-term visa for non-Bahrainis is part of Bahrain’s Economic Recovery Plan, to attract global talent and boost investment.
The new Bahraini visa can be allocated to those who receive a salary of at least 2,000 Bahraini dinars (about $5,300) or pensioners with an income of 4,000 dinars, according to Bahrain’s Interior Minister Rashid bin Abdullah Al Khalifa.
Also, those who own properties worth at least 200,000 dinars are eligible to receive the golden residence, as well as “talented” individuals.
The visa offers 10 years of residency in Bahrain, which can be renewed “indefinitely”, provided certain criteria are met.
Bahrain followed the UAE’s footsteps in granting Golden Visas. In April, the UAE Cabinet announced the largest set of reforms and updates to its entry and residency schemes. The new system covers entry visas, new residency options, and an expanded Golden Visas (long-term residency) scheme.