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Bahrain to issue ten-year renewable residency on self-sponsorship basis

Bahrain is all set to issue a ten-year renewable residency permit on a self-sponsorship basis to foreign investors.

The Crown Prince Salman bin Hamad Al Khalifa has instructed the Interior Ministry to prepare a draft to create the self-sponsorship residency permit for foreign investors.

The new system aims to strengthen Bahrain’s position as an investment destination.
The Interior Minister, Shaikh Rashid bin Abdullah Al Khalifa, affirmed the importance of instilling the principles of Bahrain’s Vision 2030 – Sustainability, Competitiveness and Justice across all development areas.

The Government is working to improve public services in line with international best practices, aiming to support an economic environment that is conducive to securing growth and investment in key sectors, he said.

Visiting the Ramadan Majlis, Prince Salman emphasized on the importance of advancing the tourism, manufacturing, logistics, financial services, ICT and oil and gas sectors, saying they played a major role in drawing international investment and providing employment opportunities in nationals.

Bahrain continues to prioritize initiatives that improve efficiency. It is essential to simplify procedures within the logistics sector as it acts as a catalyst for growth, given the industry’s ability to improve competition power of national corporations in today’s inter-linked global economy, he said.

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