Bahrain's Cabinet on Monday approved a new visa that will grant long-term residency to selected foreigners as the country seeks to attract talent and boost its economy.
The Golden Residency Visa is part of the country's economic recovery plan and was approved following a memorandum submitted by the Minister of Interior, Bahrain News Agency said.
The visa will provide the holder the right to work in Bahrain, residency benefits for a spouse and other close family members and unlimited entry and exit to the country.
The visa will increase "the competitiveness of the Kingdom of Bahrain, supporting development paths across various economic, investment and service sectors, attracting talent and opening the opportunity to obtain and benefit from permanent residency in the Kingdom of Bahrain", the agency reported.
To qualify for the visa, an applicant should have resided in Bahrain for five years and must earn an average salary of at least 2,000 Bahraini dinars ($5,306) per month.
Residents and non-residents who own property worth 200,000 dinars or more, retirees with an income of 4,000 dinars and highly talented individuals are also eligible for the visa, the Ministry of Interior said.
The visa will be renewed every 10 years if the holder meets the eligibility requirements.
Bahrain last year unveiled details of an economic plan that aimed to invest nearly $30 billion in strategic projects to fuel post-pandemic growth, boost employment for citizens and attract foreign investment. The island kingdom aims to create more than 20,000 jobs for citizens annually until 2024 and plans to attract $2.5bn in foreign direct investment by the end of next year.
The country also increased VAT to 10 per cent, a move that would help it balance its budget by 2024.
Bahrain's economy is estimated to have shrunk by 5.4 per cent in 2020, driven by a sharp contraction in non-oil output, according to the International Monetary Fund.
The country, the smallest within the six-member GCC economic bloc, was expected to expand its economy by 3.3 per cent in 2021 owing to its quick policy response to minimise the effects of the pandemic, the IMF said.
Bahrain's move follows similar steps by other Gulf countries that have offered permanent residency through different visas.
The UAE unveiled its golden visa scheme in 2019 in a bid to attract skilled workers while allowing talented professionals to stay for the longer term within the country. It has since expanded to provide various options, including a green visa that would provide investors or businessmen with more benefits for sponsoring family members.
Saudi Arabia too said it would grant long-term residency visas to foreigners with "outstanding capabilities" and in "rare specialities" to bolster its economic growth, Saudi Press Agency reported at the time.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
End of free parking
- paid-for parking will be rolled across Abu Dhabi island on August 18
- drivers will have three working weeks leeway before fines are issued
- areas that are currently free to park - around Sheikh Zayed Bridge, Maqta Bridge, Mussaffah Bridge and the Corniche - will now require a ticket
- villa residents will need a permit to park outside their home. One vehicle is Dh800 and a second is Dh1,200.
- The penalty for failing to pay for a ticket after 10 minutes will be Dh200
- Parking on a patch of sand will incur a fine of Dh300
Eyasses squad
Charlie Preston (captain) – goal shooter/ goalkeeper (Dubai College)
Arushi Holt (vice-captain) – wing defence / centre (Jumeriah English Speaking School)
Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)
Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)
Jemma Eley – goal attack / wing attack (Dubai College)
Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)
Molly Fuller – goal attack / wing attack (Dubai College)
Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)
Noorulain Hussain – goal defence / wing defence (Dubai College)
Zahra Hussain-Gillani – goal defence / goalkeeper (British School Al Khubairat)
Claire Janssen – goal shooter / goal attack (Jumeriah English Speaking School)
Eliza Petricola – wing attack / centre (Dubai English Speaking College)
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Essentials
The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes.
Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes.
In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes.
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.
Copa del Rey final
Sevilla v Barcelona, Saturday, 11.30pm (UAE), match on Bein Sports
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
bundesliga results
Mainz 0 Augsburg 1 (Niederlechner 1')
Schalke 1 (Caligiuri pen 51') Bayer Leverkusen 1 (Miranda og 81')
The biog
Name: Younis Al Balooshi
Nationality: Emirati
Education: Doctorate degree in forensic medicine at the University of Bonn
Hobbies: Drawing and reading books about graphic design
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Hertha Berlin 2 (Grujic 9', Piatek 82' pen)
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2.15pm: Maiden (PA) Dh40,000 1,200m
Winner: Maqam, Fabrice Veron (jockey), Eric Lemartinel (trainer).
2.45pm: Maiden (PA) Dh40,000 1,200m
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3.15pm: Handicap (PA) Dh40,000 2,000m
Winner: Jaahiz, Fabrice Veron, Eric Lemartinel.
3.45pm: Handicap (PA) Dh40,000 1,000m
Winner: Qanoon, Szczepan Mazur, Irfan Ellahi.
4.15pm: Sheikh Hamdan bin Rashid Cup Handicap (TB) Dh200,000 1,700m.
Winner: Philosopher, Tadhg O’Shea, Salem bin Ghadayer.
54.45pm: Handicap (PA) Dh40,000 1,700m
Winner: Jap Al Yassoob, Fernando Jara, Irfan Ellahi.
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
