Bahrain, the second Gulf state to sign Abraham Accords with Israel, is trying to emerge from its economic crisis. In this context, today it presented its plan to grant a new permanent residence visa in order to attract talents and investors.

Bahrain, like the rest of the Gulf states used until recently to offer foreigners visas for only a few years and those were employment-related.

The "Golden Residence Visa," the Interior Ministry announced, will be given indefinitely, and includes the right to work in Bahrain, to enter and exit indefinitely. 

Close family members of the holder of the gold visa will also receive a resident visa. "(The visa) is intended to attract investors, entrepreneurs and talents who can contribute to the continued success of Bahrain," the ministry said in a statement. 

To be eligible for a visa, the applicant must have lived in Bahrain for at least five years and earn an average salary of at least $5,300 per month. Also those who own assets above a certain value, retirees and "very talented" professionals who meet certain criteria are also eligible for the gold visa.