Bahrain launches ‘golden’ visas to lure talent

Bahrain on Monday introduced a new permanent residency visa to attract talent and investment, part of a trend in Gulf states to offer more flexible, longer-duration visas amid regional economic competition. 

Foreigners in the Gulf traditionally need to renew visas tied to employment every few years, limiting their stay.

The Golden Residency Visa will be renewed indefinitely, including the right to work in the country, unlimited entry and exit, and residency for close family members. 

"It is aimed at attracting investors, entrepreneurs, and highly talented individuals who can contribute to Bahrain's ongoing success," Bahrain’s Interior Ministry said.

The move is also part of measures the state is taking to resolve heavily indebted finances. 

Bahrain’s national debt in relation to its gross domestic product in 2021 was over 123 percent and is expected to rise to almost 140 percent by 2026, according to Statista. 

In October of last year, Bahrain announced a new economic growth and fiscal balance plan, including major infrastructure projects.

To qualify for a visa, one must reside in Bahrain for at least five years and earn an average monthly salary of at least $5,306.

Those who own properties above a certain value, retirees, and “highly talented” individuals who meet certain criteria will also qualify.

Gulf neighbor - regional tourism and business hub - the United Arab Emirates over the past couple of years also introduced longer-duration, more varied visas to retain professionals and their families.