Overview
His Royal Highness Prince Salman bin Hamad Al Khalifa has recently issued Resolution No. 47 of 2023 with respect to Granting the Entry Visa and Platinum Residency Permit in the Kingdom of Bahrain, aligning with the Kingdom’s efforts to enhance the commercial environment and attract foreign investment.
This article will delve into the eligibility requirements of the Platinum Residency Permit and discuss the wider implications of this decision on the economy of Bahrain.
Golden Residency Visa Programme
Bahrain’s efforts to attract foreign investment through such residency permits did not in fact begin with the Platinum Residency Permit. Bahrain previously provided such a solution with the Golden Residency Visa Programme (GRVP).
The GRVP is a visa programme designed to provide long-term residency and aimed at bringing in foreign investment and talent into the Kingdom. Although the GRVP provides a variety of opportunities and benefits to eligible individuals, Bahrain has now introduced a newer programme that provides even more unique opportunities for foreigners.
( To find out more about the GRVP, read our detailed article by clicking on the following link: Encouraging Economic Growth: Bahrain’s Golden Visa Program – ZU’BI & PARTNERS (zubipartners.com) )
The Platinum Residency Permit
The Platinum Residency Permit offers greater residency rights and additional benefits beyond those provided by the GRVP. Naturally, the eligibility criteria are slightly more demanding.
Eligibility Criteria of the Platinum Residency Permit
The eligibility criteria are as follows:
- Holder of the Golden Residency Permit;
- Period of stay in Bahrain is not less than 15 years;
- Average basic salary of not less than 4,000 Bahraini Dinars during the last 5 years of residency; and
- Not previously convicted of a felony or misdemeanour involving a breach of honour or trust, even if he has been rehabilitated.
Benefits of the Platinum Presidency Permit
The Platinum Residency Permit provides foreigners with new benefits:
- Ownership of Land
The Crown Prince and Prime Minister have also recently issued Resolution No. 48 of 2023 amending the first Article of Resolution No. 43 of 2003 Regarding non-Bahrainis’ ownership of built real estate and land in the Kingdom of Bahrain.
This decision grants the holder of the Platinum Residency Permit the ability to own property beyond what is allowed for non-Bahrainis. This benefit is particularly important because before this, non-Bahrainis were only permitted to own property or land in certain limited parts of Bahrain, and primarily man-made islands in the Kingdom, such as Durra and Amwaj Islands. With the Platinum Residency Permit, non-Bahrainis will have the opportunity to own and invest in the real estate industry without being limited within the confines of Resolution No. 43 of 2003.
- Family
One of the benefits of the Platinum Residency Permit is that an entry visa and residency permit may also be granted to the Platinum Residency Permit holder’s non-working dependents. In other words, the Platinum Residency Permit holder will be able to ensure that their spouse, children and parents are with them in Bahrain.
Revocation of the Platinum Presidency Permit
There are certain cases whereby the Platinum Residency Permit may be revoked, namely if:
- Its continuation is detrimental to security, public order, or national interests;
- It is proven that he obtained a residence permit based on false information or incorrect documents; or
- He violates any of the provisions of the Foreigners (Immigration and Residence) Law of 1965.
Moreover, if the Platinum Residency Permit is revoked, the permits of the holder’s dependents shall be revoked as well. The holder and his family shall thereafter have one month to leave Bahrain.
Although the application process and other implementation technicalities have yet to be announced, it is evident that the Platinum Residency Permit presents a significant opportunity for foreigners. The potential holders of the Platinum Residency Permit will be able to reap the land ownership benefits and security provided by the permit. Equally, the Platinum Residency Permit is expected to improve Bahrain’s infrastructure and incentivize more foreign direct investment in the Kingdom, which has the potential to contribute to the Kingdom’s GDP growth and positively impact the country’s economy. Finally, with more properties invested and built, the Platinum Residency Permit could lead to job creation and boost the real estate industry as a whole. Overall, the Platinum Residency Permit has the potential to bring about numerous benefits for both foreign investors and the Kingdom of Bahrain.
