Bahrain to issue 10 year residency permit for foreign investors
His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, has instructed the Minister of Interior to prepare a draft edict to create a new self-sponsorship residency permit for foreign investors. Under the new system, which is designed to reinforce Bahrain’s position as an investment destination, foreign investors will be able to obtain a 10-year, renewable residency permit on a self-sponsorship basis.
The Prince affirmed the government’s keenness to enhance the business environment, and its continuous efforts to offer more facilities to grant commercial and investment licences. The Prime Minister warned that delaying investment projects by stalling the issuance of licenses is not allowed in any way, stressing that it was detrimental to the civilised environment in Bahrain and that the government will never tolerate it.
He hailed Bahrain’s development and investment scenes as a result of the facilities and smooth procedures offered to business people and investors and of the private sector activities and keenness to participate effectively in the development process in light of the security and stability enjoyed by the Kingdom. The Premier pointed out his keen interest in knowing the aspirations and visions of businessmen especially in light of the current commercial and economic conditions and possible achievements to stimulate commercial and economic activity through partnership with the private sector.
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