Oman facilitates expat as residency card validity extended for 10 years

MUSCAT: A short-term residency in a foreign country is not at all admirable for expatriates; now, the Gulf country of Oman has taken an initiative to extend residency tenure for its expatriates.

Taking an initiative for expatriates residing in Oman, the government of Oman has announced a major change to its residency regulations, extending the validity of the expatriate residency card from three to 10 years.

Lieutenant General Hassan bin Mohsin Al Shuraiqi, Inspector General of Police and Customs, has issued the decision by amending the executive regulations of the Civil Status Law.

Under the new rules, residency cards will now be valid for up to 10 years. Cardholders must renew their IDs within 30 days of expiry.

Issuance and Renewal Fees

The regulation also sets the issuance and renewal fees at five Omani rials per year, with a replacement fee of 20 rials for lost or damaged cards.

Previously, in a decision issued last August, residency cards were valid for one, two, or three years only.

Earlier, on behalf of the Government of the Sultanate of Oman, represented by the Ministry of Finance, the Central Bank of Oman (CBO) announced the launch of new issues of Government Development Bonds (GDBs).

Issue Details

According to the CBO, Issue No. 78 is worth OMR 75 million, with a green shoe option (not exceeding OMR 25 million), carries a maturity period of 7 years, and a coupon rate of 4.20% per annum.

Issue No. 79 is valued at OMR 15 million, with a green shoe option (not exceeding OMR 5 million), a maturity period of 10 years, and a coupon rate of 4.35% per annum.

Key Dates and Payments

Both issues will open for subscription from November 12 to 18, 2025, with the auction held on Wednesday, November 19, 2025. The issue date will be on Sunday, November 23, 2025.

Interest payments for the 78th and 79th bond issues will be made semi-annually on May 23 and November 23 each year until the maturity date on November 23, 2032, and November 23, 2035, respectively.

The CBO highlighted that both issues are open to all investors, including residents and non-residents, regardless of nationality.

Investors may apply for these bonds through a competitive bidding process only, submitting bids via commercial licensed banks operating within the Sultanate during the subscription period.

Furthermore, investors with applications of OMR 1 million and above may submit their bids directly to the CBO, at their own discretion, after obtaining the required endorsement from their respective banks.

Notably, the bonds are direct and unconditional obligations of the Government of the Sultanate of Oman, represented by the Ministry of Finance.

The Bonds can be used as collateral to obtain loans from any local commercial licensed banks and can also be traded at prevailing market rates through the Muscat Stock Exchange (MSX).

Details of the bonds allotted will be recorded in the register maintained by the Muscat Clearing & Depositary Company (MCD).

Therefore, investors must provide the same bank account details registered with MCD in order to ensure the smooth processing of their bids and the receipt of the coupon payments and principal amount on their scheduled dates.