Oman is aiming to boost investment into the country with schemes including a golden residency programme, digital registration options and incentives for high-performing Omani companies.
The sultanate's Ministry of Commerce, Industry and Investment Promotion will launch a golden residency programme for investors on August 31, the Oman News Agency reported on Saturday.
It will also launch a service for companies to permit the online transfer of commercial registration through the Oman Business platform, as well as Al Majida Companies initiative, aimed at supporting high-performing Omani companies to expand locally and globally through incentives and facilities.
The launches will take place at an event in Salalah, where the ministry also plans to sign co-operation agreements with Sultan Qaboos University, the German University of Technology, the Oman Energy Association, and Binaa Professional Services Company to develop the construction sector, ONA reported.
The initiatives are aimed at positioning Oman as a global investment destination by providing investors with opportunities for long-term growth and stability, said Mubarak Al Dohani, director general of planning at the ministry.
The ministry is aiming to make all commercial transactions digital, reducing time and costs for investors, he added.
Oman, like its peers in the Gulf, has been taking steps to diversify its economy away from oil, with investments in logistics, manufacturing, property and other sectors, to expand its non-oil economic base.
Under its economic and social reforms programme, the sultanate aims to reduce its dependence on oil income by 15 per of its gross domestic product by 2030 and further reduce it by 18 per cent by 2040.
It also announced the introduction of personal income tax starting in 2028, with a 5 per cent rate of tax on annual income exceeding 42,000 Omani rials ($109,134).
The International Monetary Fund projects Oman’s economy to expand by 2.4 per cent in 2025 and 3.7 per cent in 2026, boosted by non-hydrocarbon activity especially in manufacturing and services.
Golden visa schemes
As part of their economic diversification efforts, countries across the Gulf have been launching reforms to attract more investment, including long-term residency schemes.
Oman currently offers two investment residency programmes through real estate, commercial investment and long-term bank deposits on a renewable five and ten-year basis subject to criteria, according to the ministry's Invest Oman platform.
Those making an investment of at least 500,000 Omani rials in a limited liability company, public joint-stock company or government bonds, or buying a property in the sultanate to that value, are eligible for a 10-year visa that can be extended.
The visa is also offered to those who establish a company employing a minimum of 50 Omani nationals.
The fee for the visa is 551 rials.
Meanwhile, those investing 250,000 rials in a limited liability company or public joint-stock company, or buying a property for that value, are eligible for a five-year visa.
Expatriates living in Oman who wish to retire in the sultanate can also obtain an extended five-year residence permit by providing evidence of fixed income of at least 4,000 rials a month.
The applicant will need to pay 326 rials for the visa.
The UAE also launched long-term residence visas in 2019. They enable foreigners to live, work and study in the UAE without the need for a national sponsor. These visas can be issued for five or 10 years and are renewed automatically. The visa has no restrictions on travelling in and out of the country and can also cover spouses, children and parents to enjoy the same benefits.
An investor can acquire property, through various means, valued at Dh2 million or more to qualify for the golden visa. You can meet the threshold either with a single property or by combining several. Professionals based in the UAE will also qualify for the golden visa if they have a basic monthly salary of Dh30,000 ($8,168), excluding allowances.
Bahrain also approved the golden residency visa programme in 2022. The visa gives 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. To qualify for the visa, an applicant must 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 people are also eligible for the visa. The visa is renewed every 10 years if the holder meets the eligibility requirements.
ARGYLLE
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Fire and Fury
By Michael Wolff,
Henry Holt
Skoda Superb Specs
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Power: 190hp
Torque: 320Nm
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Available: Now
UAE currency: the story behind the money in your pockets
Mohammed bin Zayed Majlis
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
ESSENTIALS
The flights
Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes.
The trip
From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.
UAE and Russia in numbers
UAE-Russia ties stretch back 48 years
Trade between the UAE and Russia reached Dh12.5 bn in 2018
More than 3,000 Russian companies are registered in the UAE
Around 40,000 Russians live in the UAE
The number of Russian tourists travelling to the UAE will increase to 12 percent to reach 1.6 million in 2023
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
In numbers
1,000 tonnes of waste collected daily:
- 800 tonnes converted into alternative fuel
- 150 tonnes to landfill
- 50 tonnes sold as scrap metal
800 tonnes of RDF replaces 500 tonnes of coal
Two conveyor lines treat more than 350,000 tonnes of waste per year
25 staff on site
Day 1, Dubai Test: At a glance
Moment of the day Sadeera Samarawickrama set pulses racing with his strokeplay on his introduction to Test cricket. It reached a feverish peak when he stepped down the wicket and launched Yasir Shah, who many regard as the world’s leading spinner, back over his head for six. No matter that he was out soon after: it felt as though the future had arrived.
Stat of the day - 5 The last time Sri Lanka played a Test in Dubai – they won here in 2013 – they had four players in their XI who were known as wicketkeepers. This time they have gone one better. Each of Dinesh Chandimal, Kaushal Silva, Samarawickrama, Kusal Mendis, and Niroshan Dickwella – the nominated gloveman here – can keep wicket.
The verdict Sri Lanka want to make history by becoming the first team to beat Pakistan in a full Test series in the UAE. They could not have made a better start, first by winning the toss, then by scoring freely on an easy-paced pitch. The fact Yasir Shah found some turn on Day 1, too, will have interested their own spin bowlers.
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FOLD%204
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How to tell if your child is being bullied at school
Sudden change in behaviour or displays higher levels of stress or anxiety
Shows signs of depression or isolation
Ability to sleep well diminishes
Academic performance begins to deteriorate
Changes in eating habits
Struggles to concentrate
Refuses to go to school
Behaviour changes and is aggressive towards siblings
Begins to use language they do not normally use
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
WHAT%20ARE%20THE%20PRODUCTS%20WITHIN%20THE%20THREE%20MAJOR%20CATEGORIES%3F
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HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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Norway
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Canada
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Profile of RentSher
Started: October 2015 in India, November 2016 in UAE
Founders: Harsh Dhand; Vaibhav and Purvashi Doshi
Based: Bangalore, India and Dubai, UAE
Sector: Online rental marketplace
Size: 40 employees
Investment: $2 million
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Results
7pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Dirt) 1,600m; Winner: RB Kings Bay, Abdul Aziz Al Balushi (jockey), Helal Al Alawi (trainer)
7.30pm: Maiden (PA) Dh 70,000 (D) 1,600m; Winner: AF Ensito, Fernando Jara, Mohamed Daggash
8pm: Maiden (PA) Dh70,000 (D) 1,400m; Winner: AF Sourouh, Tadhg O’Shea, Ernst Oertel
8.30pm: Maiden (PA) Dh70,000 (D) 1,800m; Winner: Baaher, Fabrice Veron, Eric Lemartinel
9pm: Maiden (PA) Dh70,000 (D) 2,000m; Winner: Mootahady, Antonio Fresu, Eric Lemartinel
9.30pm: Handicap (TB) Dh70,000 (D) 2,000m; Winner: Dubai Canal, Tadhg O’Shea, Satish Seemar
10pm: Al Ain Cup – Prestige (PA) Dh100,000 (D) 2,000m; Winner: Harrab, Bernardo Pinheiro, Majed Al Jahouri
The specs: 2017 Maserati Quattroporte
Price, base / as tested Dh389,000 / Dh559,000
Engine 3.0L twin-turbo V8
Transmission Eight-speed automatic
Power 530hp @ 6,800rpm
Torque 650Nm @ 2,000 rpm
Fuel economy, combined 10.7L / 100km
THE%20HOLDOVERS
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EAlexander%20Payne%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Paul%20Giamatti%2C%20Da'Vine%20Joy%20Randolph%2C%20Dominic%20Sessa%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204.5%2F5%3C%2Fp%3E%0A
Liverpool's all-time goalscorers
Ian Rush 339
Roger Hunt 280
Mohamed Salah 250
Gordon Hodgson 225
Billy Liddell 220
Boulder shooting victims
• Denny Strong, 20
• Neven Stanisic, 23
• Rikki Olds, 25
• Tralona Bartkowiak, 49
• Suzanne Fountain, 59
• Teri Leiker, 51
• Eric Talley, 51
• Kevin Mahoney, 61
• Lynn Murray, 62
• Jody Waters, 65
KILLING OF QASSEM SULEIMANI
The British in India: Three Centuries of Ambition and Experience
by David Gilmour
Allen Lane
New schools in Dubai
