SynopsisOman is boosting its appeal to foreign investors and property buyers with significant reforms to its residency laws. New "Owner Visas" simplify the process for property owners to gain residency without sponsors. Additionally, a wider range of individuals can now sponsor family members, making it easier for expatriates to bring loved ones. These changes aim to attract more foreign investment and participation in Oman's real estate sector.iStockOman eases residency rules for foreign investorsOman has rolled out a series of reforms to its residency framework aimed at strengthening its appeal among foreign investors and property buyers, while making it easier for eligible residents to bring family members into the country, according to a report by Gulf News.The reforms simplify procedures for obtaining the "Owner Visa", allowing foreign owners of residential units and authorised representatives of property-owning companies to secure residency without sponsorship requirements. As reported by Gulf News, applicants will be required to enter Oman within three months of the visa's issuance.The amendments, issued by the Royal Oman Police and published in the official gazette, also broaden the categories of individuals eligible to sponsor family members.Also Read: Saudi Arabia issues new property ownership rules for foreign companiesGCC nationals, licensed foreign investors, foreign property owners and foreign workers employed by government entities will now be able to sponsor dependents, expanding access to family residency under the revised rules.The changes are part of Oman's wider efforts to enhance its investment climate and attract greater foreign participation in the country's real estate market.The revised regulations further provide flexibility for investors by allowing residency permits to be granted for both registered properties and certain unregistered properties, subject to approval by the competent authorities.Also Read: Indian buyers return cautiously to Dubai realty market after US-Iran deal, ticket sizes fallDependants of investors and property owners will also benefit from exemptions from some age-related residency requirements, making it easier for families to qualify for residency.However, the new framework also establishes a direct link between residency status and continued property ownership.Residence permits granted to property owners, along with those issued to accompanying family members, will automatically expire if ownership of the property is transferred through sale or any other legal transaction. (Join our ETNRI WhatsApp channel for all the latest updates)...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now