MANAMA — Bahrain introduced a new permanent residency visa to attract talent and investment, as part of a series of economic initiatives within the Economic Recovery Plan.

The Golden Residency Visa, announced by the Interior Ministry on Monday, will be renewed indefinitely, include the right to work in Bahrain, unlimited entry and exit,and residency for close family members.

"(The visa) is aimed at attracting investors, entrepreneurs, and highly talented individuals who can contribute to Bahrain's ongoing success," the statement said.

To qualify for the visa, a person must have resided in Bahrain for at least five years and earned an average salary of at least BHD 2000 ($5,306) per month.

Those who own properties above a certain value, and retirees and "highly talented" individuals who meet certain criteria will also qualify. — BNA