Investors from Oman offered permanent residency by India

Investors from Oman are being offered permanent residency that is valid for a period of ten years and that can be extended for another period of ten years. The Indian ambassador to Oman Mani Pandey has said that Omani investors who invest 600, 000 OMR in a period of 18 months or 1.44 million OMR in a period of 3 years and provide Indians with 20 jobs every year, as quoted by the Times of Oman. The Indian ambassador to Oman also added that the overseas investors will be permitted to own a residential property in India for domestic purposes along with the freedom of stay duration and entry free of charges. The dependents and spouses of the Omani investors will also be permitted to study or work in India, elaborated Mani Pandey. These announcements were made by the Indian Ambassador in Oman at a seminar that was organized intending to attract investors to India. With the aim of encouraging investment from Omani entrepreneurs to India, business visas have been streamlined by the Embassy of India and it offers multiple entry visas that have a validity of six months.  Visas with validity of one to five years are also being issued by the embassy for top level managers of firms in Oman, added the Indian Ambassador. Owing to the liberalization of business operations huge overseas investment of 44 billion American dollars was received by India in the period for April 2015 and March 2016 and 29 billion American dollars for the period of April to September 2016. Mani Pandey stressed that as in the past, India is always inclined to work on close collaboration with the business sector and government of Oman in order to attain the objective of diversifying the economy of Oman through the emphasis on earmarked sectors.