Housing Finance for Expatriates

At Sohar International, we are committed to making homeownership in Oman easier and more accessible for expatriates around the world. Our Housing Loan for Expatriates is designed with affordability and flexibility in mind.
 

Interest Rate Details
6.00% p.a.

Eligibility 

Expatriates in Oman: 

• Must be employed by a reputable firm or organization for a minimum of 2 years, with salary payments assigned to a bank with a minimum salary requirement of OMR 1,500 
• Finance up to 70% of the property value.
• Tenors of up to 20 years.
• A consistent credit record for the past 12 months, verified by Sohar International.
• Letter of employment confirming at least 2 years of employment stability, including details of salary, designation, and date of joining.
• Full adherence to Know Your Customer (KYC) and Customer Due Diligence (CDD) processes to ensure thorough verification of the applicant's identity, Employer and financial status.
   

Non-residence: 

• Income Stability:
• Must be employed by a reputable firm or organization, with salary payments assigned to a bank with a minimum salary requirement of OMR 5,000 or its equivalent in foreign currency OR.
• Must have stable employment or business operations outside Oman, demonstrating an annual income of at least OMR 25,000
• Finance up to 50% of the property value
• Tenors of up to 10 years
• A consistent credit record for the past 12 months, verified by Sohar International
• Letter of employment confirming at least 2 years of employment stability, including details of salary, designation, and date of joining. This must be attested by the Oman Embassy or Consulate in the applicant's country of residence.
• Full adherence to Know Your Customer (KYC) and Customer Due Diligence (CDD) processes to ensure thorough verification of the applicant's identity, Employer and financial status.
   

Required Documentations

For buying property

• Expatriates - residence card & Passport copy with valid visa
• Completed Loan Application Form
• Liability certificate from existing banks/ or financial institutions/ employer (if any)
• Salary certificate of the applicant/ co-applicant
• Bank statement of the last six months stamped by the bank
• Copy of title deed and krooki
• Proof of additional income if any
• Original valuation report from one of the bank's approved valuation agencies
   

For Construction

• Copy of construction agreement signed by the contractor, consultant, and owner with schedule of payment
• Copy of building permit
• Proof of payment contribution to contractor if any For Purchase
• Purchase agreement and the copy of Id card of the seller
• Proof of down payment to a seller if any