All Golden Visa Holders in Bahrain Must Show Proof of Valid IPMI

In this iPMI Global Country guides article, iPMI report author Ian Youngman, takes a look at news that all golden visa holders in Bahrain must show proof of valid IPMI.

Ian Youngman is a writer and researcher specialising in insurance. He writes regularly for a variety of magazines, newsletters, and on-line services. He publishes a range of market reports, and undertakes research for companies. To read his latest report, International Health Insurance 2023, please click here, or visit the REPORTS section of iPMI Global.

• The Kingdom of Bahrain introduced its golden visa program in 2018 to attract foreign investment and encourage expats to live and work in the country long-term.
• The golden visa offers a 5-year renewable residency to qualified individuals, allowing them to live, work and study in Bahrain without requiring a sponsor or employer. 
• In 2024, Bahrain’s golden visa programme remains one of the most attractive long-term residency options in the Gulf region.
• 2000 expatriates have benefited from the Golden Residency Visa Programme since it was launched.
• Benefits of the Bahrain Golden Visa:
• 5-year renewable residency without a sponsor or employer needed.
• Ability to sponsor family members, including spouses and children. Dependent children can study in Bahrain until age 25.
• No restrictions on employment and the ability to work without an employer’s visa. 
• Access to own property in certain designated areas without restrictions.
• Unlimited entry and exit to/from Bahrain.
• Full access to healthcare and education services in Bahrain.
• The main applicant for a Bahrain golden visa must meet one of the following criteria:
• Invest a minimum of BHD 500,000 in real estate (US$1.3 million).
• Have a monthly income of at least BHD 2,000 (US$5,300).
• Own real estate in Bahrain worth a minimum of BHD 200,000 (US$530,000). 
• Deposit a minimum of BHD 500,000 in a Bahrain bank account.
• Establish or participate in approved investment projects of a minimum BHD 100,000.
• Have specialised skills and qualifications in science, arts, sports, or technology.
• Golden visa holders must spend at least 90 continuous days in Bahrain every 5 years to keep the visa valid. 
• Bahrain’s golden visa offers an excellent opportunityfor expats looking for long-term residency in the Middle East.

Analysis

• The Ministry of Health will launch the mandatory health insurance for foreigners in 2024.
• Hakeem is a comprehensive insurance programme for expats.
• The compulsory insurance scheme for foreigners and residents aims to transform a culture of dependence on government health services into a comprehensive and self-financed health insurance system.
• According to official data, the new health insurance project will cover around 720,000 foreigners residing in Bahrain.
• Most expats are currently registered in the basic cover system of the Ministry of Health under which they pay an annual fee of BHD72 each.
• Bahrain's National Health Insurance Scheme for locals is being brought in in 2024.
• Once it is launched, Bahrainis will continue to be eligible for free services at public health facilities.
• The mandatory health insurance scheme will be implemented to citizens in 2024.
• There will be a soft launch in early 2024 and a full launch in late 2024 of Sehati.
• What is different about the Golden Visa scheme is that holders are not required to hold either Hakeenm or Sehati but a private IPMI policy.

What Next?

• Both compulsory health insurance schemes are still to be launched.
• Eventually the Golden Visa rules will inevitably require holders to have one of these schemes.