Can Foreigners Buy Real Estate in Oman? Yes, you can now purchase real estate in Oman. By giving foreign nationals the ability to own their own property to either reside in or rent out, the government is now promoting foreign investment. As part of reform initiatives aimed at strengthening the nation’s fiscal condition, Oman is expanding the range of residential properties available to foreign investors in the real estate market.
The Minister of Housing and Urban Planning, Dr. Khalfan bin Saeed Al Shuaily, has issued a ministerial directive allowing foreigners to purchase and own any type of real estate in Oman. This recently announced decision benefits international investors in numerous ways. The investor can acquire a piece of real estate that is worth 250,000 OMR and will give him or her second-class housing. If the investment property is worth more than 500,000 OMR, it will give the investor a first-class residence. If the investment property is worth less than 250,000 OMR, he can only buy it in integrated tourism complexes (ITCs).
Investors with residences that qualify them for first-class residence cards also have the option of owning a single property outside of the regions that have been granted licenses for expatriate ownership.
The ownership of real estate by expatriates must be done without displaying disregard for Royal Decree No. 29/2018 and the executive regulations published under Ministerial Resolution No. 292/2020, which list the regions where foreigners are not permitted to own property in the Sultanate
The class of residency awarded to the investor or expat is the primary distinction in this case. Real estate such as residential homes, commercial assets, and industrial properties are all included under first class residency ownership. The only residential properties eligible for second-class residency are those barely worth 250,000 OMR. Therefore, an expat may only purchase real estate that is worth less than 250,000 OMR in Integrated Tourism Complexes (ITCs) or through usufruct agreements.
In the governorates of Musandam, Buraimi, Dhahirah, and Wusta, they are prohibited from purchasing real estate. They cannot also own homes in the Dhofar region, except for Wilayat Salalah. They are unable to purchase real estate in the Liwa and Shinas Wilayats. Foreigners are prohibited from purchasing real estate in Masirah, Jabal Akhdar, Jabal Shams, and any other mountains or islands deemed to be strategically important. Finally, foreign nationals are prohibited from purchasing real estate close to important military, security, and historical locations.
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