Law Updates

MOCIIP Issues Decision to Simplify Investor Procedures

The Ministry of Commerce, Industry, and Investment Promotion issued a new decision in this week’s issue of the Official Gazette that aims to simplify investment procedures and provide facilities to Omani and non-Omani investors by providing an integrated system for obtaining all approvals, permits, and licences for any investment project through the Investment Services Centre in the new Invest in Oman Lounge.

Under this new integrated system, it will be possible to obtain all government approvals, permits, and licences, irrespective of the entity from whom the approval, permit, or licence is required, from the Investment Services Centre. Government entities will be required to provide representative staff available at the Investment Services Centre with the authority to issue such approvals, permits, and licences.

This new decision has entered into force today, but it is not clear when exactly the actual integrated services will be ready to be offered at the Invest in Oman Lounge.

You can read the decision in full in English on the link below: