Oman: Regulations for Entrepreneurship Identity Implemented

Oman News developments

Oman: Regulations for Entrepreneurship Identity Implemented

Mubasher, 16 April 2023: Oman’s Authority for Development of Small and Medium-Sized Enterprises, “Riyada,” has announced the regulation for registering micro, small, and medium-sized enterprises and issuing the entrepreneurship ID card will be implemented from 1 May 2023.

These regulations were issued by the Authority in February of this year.

According to the regulations, an enterprise is classified as a micro-enterprise if it has ten workers or fewer and its annual revenue is no more than 150 thousand rials.

Small enterprises have between 11 and 50 workers and annual revenues ranging from 150 thousand rials to 1.25 million rials.

Riyada registers enterprises based on this classification, provided the enterprise is not owned by another large company.

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Benjamin Filaferro