Bahrain: Platinum Residency Program for Long-Term Residents Forthcoming
July 10, 2023
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At a Glance
- Bahrain’s Council of Ministers approved a decision to create a Platinum Residency for certain foreign nationals who have lived in Bahrain for at least 15 years who hold a Golden Residency.
- The Platinum Residency will allow foreign nationals to buy property anywhere in Bahrain - foreign nationals are generally limited to purchasing properties at designated investment projects in the country - and sponsor dependents, among other yet unannounced benefits.
- The government has not yet announced the application process or implementation date of the Platinum Residency, but this information is expected in the coming months.
The situation
Bahrain’s Council of Ministers approved a decision to create a Platinum Residency for foreign nationals who have lived in Bahrain for at least 15 years and hold a Golden Residency.
A closer look
- Eligibility. In order to be eligible for Platinum Residency, foreign nationals must have lived in Bahrain for at least 15 years (it is not yet clear if this must be continuous residence), hold a Golden Residency, have maintained good conduct as evidenced by a “Good Conduct Certificate”, and have never been convicted of a felony or misdemeanor involving breach of honor or trust.
- Minimum salary eligibility. Foreign nationals must earn an average basic monthly salary of at least BHD 4,000 (approximately USD 10,610) in the last five years of holding residence prior to applying for the Platinum Residency.
- Real estate benefits. Individuals holding Platinum Residency will be able to own real estate and land in most regions of Bahrain. Generally, foreign nationals are limited to purchasing properties at designated investment projects in Bahrain.
- Dependents. Platinum Residency holders can sponsor dependents, including opposite-sex spouses, children and parents; however, these individuals will not be granted work authorization.
Impact
The Platinum Residency will allow foreign nationals to own property in areas that were previously restricted to Bahraini nationals, creating additional incentives to invest and reside long-term in the country.
Background
Bahrain continues to make significant reforms to its comparatively open and well-regulated immigration system in the region. Earlier this year, Bahrain launched a Golden License that offers incentives and streamlined services to foreign and local companies that bring large-scale investment projects into Bahrain. Investors who receive the license obtain benefits including automatic issuance of Golden Residency Permits.
Looking ahead
Additional details regarding the application process, among other items, are expected to be announced by the Ministry of Interior and other relevant authorities in the coming months. It is not yet clear when the Platinum Residency program will open to applications.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
