Bahrain is working on a draft law to create a new self-sponsored residency visa for foreign investors, Bahrain News Agency reported.

 

Crown Prince Salman bin Hamad Al Khalifa instructed the minister of interior to prepare the legislation, it added.

 

The visa will allow foreign investors to obtain a “10-year renewable residency permit on a self-sponsorship basis” and boost the country's position as an investment destination.

 

The announcement comes after the UAE announced plans to introduce a 10-year visa for investors, innovators and talented specialists this month. 

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