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Fri, 21/10/2016

Foreign Investment doesn't require Capital Payment Proof anymore!

In order to achieve the goals of Invest Easy, the Ministry of Commerce and Industry changed the procedure of the Commercial Registrations which are subject to the law of foreign investment in which there is no “Capital Payment Proof” required anymore.

The new procedure allows the foreign investment companies to register the Commercial Registrations easily through Invest Easy System without providing “Capital Payment Proof” in the time of registration in which helps the companies to finish the other procedures fast and start their business easily. In addition, the ministry will not request the “Capital Payment Proof” anytime in the companies’ life.

It is important to highlight that such kind of Commercial Registrations are obligated to provide the “Annual Report” which provides the National Business Registry with information of having the financial capabilities to practice the business in Oman.

The previous procedure was requiring an official capital payment proof “bank statement” of minimum 150,000 OMR within the first 6 months of the registration period.

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