Upgrade To ISIC4
What is ISIC4?
ISIC4 is the version 4 of the International Standard Industrial Classification of All Economic Activities. It is considered as the international reference
classification of productive activities.
Upgrade to ISIC4
Invest Easy system is created to always be aligned with the international standards and implement the best practices for the business sector. Upgrade ISIC to version 4 is one of the innovative ideas which was adopted by Invest Easy Steering Committee as it will help easing doing business in Oman. Here you can look at the full mapping list between the ISIC3 and ISIC4 activities.
How will the current ISIC Code (ISIC3) be altered by the upgrade to ISIC4?
After upgrade to ISIC4, some alterations will take effect on the activities as following three cases:
1. Some Activities will remain same except renaming of some of them. We call it (1 - 1).
2. Some Activities will be merged into 1 Activity. We call it (Many - 1) or (N - 1).
3. Some Activities will be subdivided into many activities. We call it (1 - Many) or (1 - N).
4. Some new activities will be existed.
How will the Commercial Registrations be altered from this upgrade?
Invest Easy was using ISIC3 and all the commercial registrations have added the activities based on ISIC3 standards. After the upgrade to ISIC4, all the altered activities in the Commercial Registration will be automatically upgraded to ISIC4.
What to do in case the Commercial Registration is altered from this upgrade?
All the activities will be upgraded automatically. Only if the CR activity is altered by the case number 3 which is (1 - N), then the investor has to decide either to keep the new subdivided activities or do submit an application to remove them.