Latest news with #AddleshawGoddardOman
Gulf Insider
20-05-2025
- Business
- Gulf Insider
Oman's Golden Visas Are Turning Into A Big Hit With Global Investors
Oman is emerging as one of the top global destinations for investment-linked residency – but true to its style, the Gulf state has been going about it in an understated way. But that's all changing. It was recently that Oman announced an intensely ambitious re-development plans for Salalah, the popular tourism destination in the southern part of Oman. The re-development opens up a whole range of long-term residency possibilities in Oman – and one which is definitely going to figure prominently in the plans for the global wealthy 'who want a different vibe where they want to be'. 'The Salalah re-development is nothing short of a generational makeover for Oman and its ambitions to be a global investment spot,' said an investment advisor to high networth individuals. 'Oman offers both a 10-year visa and 5-year residency (which is renewable) for investors,' said Gorvinder Pannu, Partner in Employment at Addleshaw Goddard Oman. 'The 'golden visa' offers long-term residency for foreign investors – subject to fulfilling certain conditions. 'This program represents a significant step in Oman's efforts to attract foreign investment and create a thriving business environment.' * For the 5-year residency, the minimum investment is OR250,000, which must be made in real estate, a limited liability company or public joint stock company. (Retired expats can also qualify for the 5-year visa if they can demonstrate a fixed monthly income of at least OR4,000. * For the 10-year visa, a minimum investment of OR500,000 can be in real estate, a limited liability entity or public joint stock company. Or the investor can set up a company employing at least 50 Omani nationals (where no minimum capital is required). * Alternatively, long-term government bond deposits are also acceptable. Keep these things in mind – the applicant must be 21 years or above. The applicant must not be subject to a previous deportation order in Oman. The Golden Visa applications are to be submitted to Oman's Ministry of Commerce, Industry, and Investment Promotion. 'Final approval vests with the Royal Oman Police, which has the authority to accept or reject applications at its discretion,' said Pannu. Now, the Golden Visa has been just the catalyst Oman's property market needed. New projects have been unveiled, with the Salalah re-development being the cornerstone initiative. Salalah has been a major tourism draw for Oman through the years, but now, through the re-development, options open up for expats to consider longer term stays through buying property there. 'Yes, Oman is a growing but remains a niche freehold market,' said Aakarshan Kathuria, CEO of RiseUp. 'Foreigners can own freehold properties in 'integrated tourism complexes'. The ownership comes with residency rights for the buyer and immediate family. 'Investment in Oman offers an excellent lifestyle appeal and decent gross returns of 5-8% in ITCs. But the secondary property market is not very active – so resales may take longer compared to Dubai or Abu Dhabi. 'Which is why Oman is more suited for long-term investments offering stable rental income.' Al Mouj Muscat: A premium waterfront community featuring villas, townhouses, and apartments with marina access. Prices range from OR500,000 to OR2 million. Jebel Sifah: A coastal resort community about 45 minutes away from Muscat. Listings show prices of a 3-bedroom villa at OR212,000. AIDA project: A high-end development located between the mountains and the sea with starting prices of OR128,000.
Observer
12-03-2025
- Business
- Observer
Growing role of women in legal field
Muscat, March 12 The role of women in the legal field is growing and breaking the glass ceiling, as they make meaningful impact in the society with more areas for them to explore, according to Gorvinder Pannu, employment expert at Addleshaw Goddard Oman. 'Emerging fields such as technology law (including AI), environmental law, renewable energy and even space law offer great opportunities for women. Given that these are just developing and there are few specialists, women have a great opportunity to lead in these areas,' Pannu said. As more women enter the legal market and move up through the ranks, they are increasingly breaking through traditional barriers, bringing diverse perspectives that enrich the legal profession as well as the sectors that they serve says Gorvinder Pannu. 'The appointment of women into senior and leadership roles while fostering a more inclusive environment, can also drive innovation and progress. We have to remember that female lawyers tend to juggle many more commitments than men, particularly in relation to family life. Their resilience to power and navigating these challenges should be recognised and embraced as these are valuable contributions that women bring to the legal market,' Pannu noted. There have been numerous challenges women in law have been facing such as outdated stereotyping, gender bias (whether this is conscious or unconscious), unequal pay, underrepresentation in senior roles and a lack of work-life balance. 'Despite their qualifications and capabilities, women often encounter systemic obstacles (otherwise known as the "glass ceiling") that hinder their career advancement and professional development,' she pointed out. So what is the difference women have made in the field of law? Pannu replied that women bring diverse perspectives and innovative approaches to problem-solving, advocacy and decision-making. 'They have contributed to a more holistic understanding of justice and equity and can be quite strategic, often driven by their ability to think outside the box in both their personal and work lives. Women in leadership positions have also generally been instrumental in mentoring the next generation of lawyers (whether female or male), as they tend to have excellent nurturing skills to guide and inspire future talent,' she said. When asked what else is needed to break the glass ceiling, she said, 'This is a very interesting question and one that I explored very recently with a panel of very senior female leaders at our Breaking the Glass Ceiling event held a few days ago. It goes without saying that fostering a corporate culture that values diversity and inclusion, alongside active mentorship for women, is crucial for dismantling systemic barriers.' She added that women also need allies and champions, whether they are men or women who can support them along their journey. 'Building a strong support system is so important, as is the importance of networking and shouting out about their successes, something that men seem to do quite well,' she pointed out.
