Recently, the chairman of Lulu Group and vice chairman of the Abu Dhabi Chamber, M A Yusuff Ali, was honoured with the first long-term residency visa of Oman. The legendary personality has previously received the UAE Golden Visa and premium residency visa of Saudi Arabia.
The long-term residency visa, also called the Investor Residency Programme, was launched by Oman to attract foreign investors and investment into the country. As part of the scheme, foreign investors are offered residency visas for a duration of five to ten years. This year, 22 foreign investors were honoured with the visas. Khais bin Mohammed Al Youssef, Minister of Commerce and Industry, awarded the visas at an event held in Muscat.
The visa indicates the great effort put in by LuLu Group to empower the economy of Oman. The Ministry said that the programme was launched to grant foreign investors and retirees long residency visas aiming at creating more job opportunities in the country, create more opportunities for local products, strengthen Oman’s economic structure and ensure investment quality.