Bahrain launches hotline for Golden Residency
This comes as part of the Bahrain government's efforts to attract exceptionally talented individuals and investment into the Kingdom of Bahrain, in line with strategic efforts to enhance national competitiveness and support development across various economic, investment, and service sectors, said Bahrain Economic Development Board.
The new services work towards providing a point of reference for interested applicants and beneficiaries, it stated.
Since the Golden Residency Program was first launched in 2022 as part of the Economic Recovery Plan, the Nationality, Passports, and Residence Affairs has granted permanent residency to investors, expats owning real estate, artists, athletes, talented professionals, and long-serving employees alongside their dependents.
Noor bint Ali Alkhulaif, Minister of Sustainable Development and CEO of Bahrain Economic Development Board said: "With its strategic location and its business-supportive ecosystem, the kingdom has always been a hub for both global talent and investment. The Golden Residency Program reaffirms our commitment to fostering a dynamic and welcoming environment where individuals and businesses can thrive and become part of Bahrain's growth plans."
"Bahrain is committed to consistently providing streamlined and advanced services to its citizens, residents, and visitors," she stated.
"The website and hotline going live enable us to provide comprehensive information on the program, which will support in attracting talent and investment, thereby positioning the Kingdom as one of the region's tourism destinations of choice," stated Alkhulaif.
According to her, Bahrain has cemented itself as the destination of choice for global professionals and investors.
"With its welcoming community and high quality of life, it offers an attractive home for all. Residents enjoy a cosmopolitan lifestyle that blends modern island living with rich cultural heritage. As a regional business hub, Bahrain offers 100% foreign ownership in most sectors, a competitive taxation system, and a highly skilled bilingual workforce," said Alkhulaif.
"Positioned at the heart of the Arabian Gulf, residents will experience strategic access to key markets and a business-friendly regulatory environment that fosters innovation and investment," she added.
Shaikh Hisham bin Abdulrahman Al Khalifa, Undersecretary of the Ministry of Interior for Nationality, Passports, and Residence Affairs (NPRA) said: "Through the Golden Residency Program, we aim to attract global talent and investors to contribute to Bahrain's development plans. The program represents a qualitative leap towards enhancing the efficiency of services provided to residents of the Kingdom of Bahrain, which will enhance Bahrain's international standing as a leading business and lifestyle destination."
The Golden Residency Program enables holders and their families to live and work in Bahrain, and is available to individuals who meet the following eligibility criteria:
•Employees: Professionals who have worked in Bahrain for at least five years with a minimum monthly salary of BD2,000 ($5,306) over the past five years.
•Property Owners: Investors who own real estate in Bahrain valued at BD200,000 ($530,555) or more at the time of purchase.
•Retirees: Individuals who have worked in Bahrain for at least 15 years and have an average monthly pension of BD2,000 or more during the last five years of residency. Non-residents with an average monthly pension of over BD4,000 ($10,624) are also eligible.
•Talented Individuals: Entrepreneurs, highly skilled professionals, and individuals who contribute significantly to Bahrain's economy or society.
Eligible individuals can apply to the Program through Bahrain's eGovernment portal which provides a fast and efficient application process, said Shaikh Hisham.
A dedicated team is also available to assist Golden Residency applicants and holders, ensuring they have access to ongoing support in the Kingdom, he added.- TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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