Oman: Business Incentives To Rectify Multiplicity of Registers to be Launched

Oman: Business Incentives To Rectify Multiplicity of Registers to be Launched News developments

Oman: Business Incentives To Rectify Multiplicity of Registers to be Launched

Oman’s Commerce, Industry and Investment Promotion Ministry is going to launch a raft of business incentives to rectify multiplicity of register issues.

They will be launched on 15 June 2021.

Under the incentives, affected entities will have one year to clear multiple entities or merge them within six months.

The aim is to streamline the process of status adjustment for these entities and encourage young people and owners of multiple commercial registers to clear or merge their businesses.

It is also aimed at eliminating this phenomenon, regulating the market, improving the business climate, allowing competition and removing inactive commercial registers from incentive packages and fee exemptions.

A file cancellation may be processed electronically through the Invest-Easy portal or through Sanad Centres.

The relevant documents will have to be attached.

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Marlé Van Sandwyk
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