Platinum Residency program to be introduced

IMPACT — MEDIUM

The Bahraini government announced it will launch the new Platinum Residency program.

Key Points:

• Foreign nationals who have been living in Bahrain for 15 years will be eligible for Platinum Residency if they:
  • Hold Golden Residency.
  • Have a valid Good Conduct Certificate and never been convicted of a crime.
  • Earned at least 4,000 BHD (about US$10,600) per month for the previous five years.
• Those who hold Platinum Residency will be able to own property in almost all of the country. Individuals who hold Golden Residency are only permitted to own property in designated areas in Bahrain.
• Those who hold Platinum Residency will be able to sponsor dependents, including spouses, children and parents; however, dependents will not receive work authorization.

BAL Analysis: The Bahraini government will launch the Platinum Residency program to encourage highly skilled foreign nationals to continue to live and work in the country. Eligible foreign nationals will benefit from the program by being able to purchase land in almost all parts of Bahrain. Bahraini authorities have yet to announce the program’s launch date.

This alert has been provided by the BAL Global Practice Group. For additional information, please contact berryapplemanleiden@bal.com.

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