Dr Shamsheer Vayalil, chairman and managing director of VPS Healthcare, has been granted a long-term residency visa by the Oman government.
Dr Vayalil, the UAE-based non-resident Indian (NRI) entrepreneur on September 29 received his 10-year investor residency card from His Excellency Qais Bin Mohammed Al Yousef, minister of commerce, industry and investment promotions at a ceremony.
“I am deeply humbled and privileged to receive the long-term residence card granted by the Oman government,” Dr Shamsheer Vayalil was quoted as saying by TOI while receiving the long-term residency card. “This is a proud moment and I take this opportunity to extend my sincere gratitude to the leadership of Oman and HE Qais Bin Mohammed Al Yousef for bestowing the honour.”
The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) launched the Investors Residency Visa on September 29, 2021, itself. This visa grants foreign investors and retirees’ long residency in Oman.
According to MoCIIP, a long-term residency visa has been introduced to provide a booster shot to the economy through foreign investments.
“The programme aims to attract investments from different countries for which the Sultanate provides a conducive environment,” said the minister. “It also focuses on qualitative investments that contribute to the growth of domestic products, localisation of industries, transfer of modern technologies, and promotion of economic diversification sectors in the Sultanate.”
Further, it said that the Investor Residency Program of Oman is meant to attract bigger investments to diversify the economy and boost the growth of the gross domestic product. The 10-year-long visa comes with certain benefits and will act as an incentive for expats to make further investments in Oman.
Though the ministry stated that applications will be received from October 3 through the ministry’s Investment Services Centre, 22 investors of different nationalities have been granted the long-term residency card by the government of Oman during the launch. And Dr Vayalil is one of the 22 foreign entrepreneurs to receive the 10-year-long residency visa of Oman.
“Today, we have granted investor residence visas to more than 20 investors in the sultanate. Some of them have employed more than 4,000 Omanis in their companies, stated H E Yousef. “We have received many requests from investors to obtain residency, and we will announce them next week.”
Dr Vayalil had already been granted the Golden Visa by the UAE government in June 2019.
