Bahrain to Follow UAE’s Footsteps by Offering Golden Visa Residencies to Alleviate the Economy
As the Middle East’s economy grows, new opportunities emerge for those willing to invest and contribute to the development of the countries within the region. This is especially true as more brilliant people seek employment opportunities in new ventures that aim to hire distinctive and creative people. The United Arab Emirates or the (UAE) is one of the governments that has granted Golden Residency Visas to investors and celebrities interested in developing businesses in the country. Therefore, Bahrain is the next country on the list, with its cabinet having approved plans to grant permanent residency to some foreigners and their families as part of the country’s economic development goals.
According to Bahrain News Agency, this is also a “Golden Residency Visa,” and it is part of the country’s strategy to recover within different sectors, which was authorized after the Minister of Interior filed a memorandum.
This plan intends to attract investors, assist businesses, and contribute to the creation of high-quality jobs for Bahrainis. The decision is made in light of the Bahraini government’s Economic Recovery Plan, which includes a number of economic reforms and initiatives aimed at improving the economy’s long-term competitiveness.
Bahrain and the United Arab Emirates aren’t the only countries experimenting with permanent residency; Saudi Arabia and Qatar have both taken measures toward granting permanent status to some expatriates.
This is excellent news, as more Middle Eastern countries champion talents from around the world to help them build their economies and allow for a greater flow of experience within the region, which will undoubtedly aid in the economic recovery and the creation of a modern and stable society that values hard work and creativity.
