Bahrain to issue 10-year self-sponsorship permits

Move aims to bolster country’s position as investment destination

Bahrain is to issue tenyear renewable residency permits on a selfsponsorship basis to foreign investors.

Crown Prince Salman Bin Hamad Al Khalifa on Tuesday evening instructed the Minister of Interior to prepare a draft document to this effect.

The new system is designed to reinforce Bahrain’s position as an investment destination. In a statement carried by the official news agency, Interior Minister Shaikh Rashid Bin Abdullah Al Khalifa “affirmed the importance of instilling the principles of Bahrain’s Economic Vision 2030 — sustainability, competitiveness and justice — across all development areas”.

The decision is aimed at supporting an economic environment conducive to securing growth and investment in key sectors, he said.

Prince Salman highlighted the significance of advancing the tourism, logistics, manufacturing, IT, financial services, and oil and gas sectors, saying they were vital in attracting international investment and providing employment opportunities for Bahrainis.

He also stressed “the importance of simplifying procedures within the logistics sector as a catalyst for growth given the industry’s ability to increase the competitive power of national corporations in today’s interconnected global economy.”

Ahlam Janahi, a business leader, said she applauded the move as a positive step forward for business activities and investment opportunities in Bahrain.

“Such a step further concretises the aspirations of the Bahrain Economic Vision 2030,” she said.