Want To Purchase A Property In Oman? Indians Can Buy Land In The Country

From beautiful natural landscapes to a unique culture, Oman is a popular destination among travellers. The country introduced a policy in 2006 allowing foreign nationals, including Indians, to purchase property, but only within designated zones known as Integrated Tourism Complexes (ITCs) and select commercial buildings approved by the Ministry of Housing and Urban Planning (MOHUP).

How Can Foreigners Invest

Under this policy, Indians and other foreign nationals can acquire residential and commercial properties through usufruct rights, which are long-term leasehold rights lasting up to 99 years.

ITCs are master-planned communities that blend housing, tourism, and commercial infrastructure. Some prominent ITC projects where Indians can buy homes include Al Mouj Muscat, Muscat Hills, Saraya Bandar Jissah, Jebel Sifah, and Salalah Beach.

If you purchase an undeveloped plot within an ITC, construction must begin within four years. However, extensions may be granted by the Ministry. Also, if construction has not started within this period, the government can repossess or auction the plot to ensure active development and investment.

In 2020, Oman expanded foreign property ownership rights to include usufruct rights in certain zones of Muscat, primarily covering multi-storey buildings with four or more floors.

Who Is Eligible

• You must be 23 years or older.
• Property must be situated in a multi-storey buildings with four or more floors. 
• Buildings must be located with zones licensed by the Ministry. 
• You must have lived in Oman for at least 2 years.

Restrictions Of The Policy

There are important restrictions to observe:

• Each buyer may own only one unit.
• Foreigners cannot own more than 40% of the units in a single building.
• Nationals from one country cannot collectively hold more than 20% ownership.
• Minimum property values are OMR 45,000 (approximately Rs 1,03,10,488) in Muscat and OMR 35,000 (approximately Rs 80,19,268) in other governorates.

These usufruct rights can be sold, inherited, or renewed for up to 99 years.

Documents Required

To secure a property in Oman, you need to submit:

• Purchase agreement
• Property registration with the Ministry
• Proof of residence
• A valid passport
• Financial proof
• Building permits

Consulting Omani legal experts is advisable to navigate these requirements efficiently.

Mortgages That Can Help You Buy A Property in Oman

Some banks in Oman, such as Bank Muscat, National Bank of Oman, and Bank Dhofar, offer mortgage options based on eligibility criteria like residency and income. Interest rates generally range from 3% to 7%.

Other Important Considerations

Despite these opportunities, Oman enforces strict zoning rules. Foreigners are prohibited from owning property in certain regions, including Musandam, Buraimi, Dhahirah, and heritage or military zones. The policy aims to attract foreign investment while safeguarding national security and cultural heritage.