The Bahrain Economic Development Board (EDB) has highlighted details of a new visa policy that allows nationals of more than 60 more countries to obtain a visa on arrival. This brings total number of countries with this option to nearly 100.
The new visa policy will be implemented in 2015 and is a significant development, with the potential to affect over 2.5 billion people who can now obtain a one month visa on arrival, with the ability to renew for another three months. In particular, the new visa policy will further enable expatriates who do business in Bahrain, to easily travel in and out of the Kingdom more easily, as well as boost the tourism industry.
His Royal Highness Crown Prince Salman bin Hamad Al Khalifa, first deputy prime minister and chairman of the EDB, presented the new visa policy, emphasising that reforms such as this, which support business environment, will help to continue to attract inward investment and drive forward economic growth and job creation.
The decision to revise the visa policy was taken based on key trends in the investor base in the Kingdom, including a 58% increase in international investors who own businesses in Bahrain between 2005 and 2012, and 50% increase in Arab investors with 17% in non-residence equity owners. The UNCTAD World Investment Report 2014, released last month, confirmed that total foreign direct investment (FDI) into Bahrain in 2013 was $989 million, an increase of 11% on 2012, outpacing global average growth of 9%.
Comments are closed.