The Ministry of Commerce, Industry and Investment Promotion published in this week’s issue of the Official Gazette an amendment to the Executive Regulation of the Foreign Capital Investment Law that makes it an obligation for every company established by a foreign investor to recruit at least one Omani employee.
Companies subject to this law are required to comply with this obligation within a year from the date of the commencement of the commercial activity of such company.
Existing companies have up to 6 months to comply with this obligation starting from the date of renewal of the commercial register, or the issuance or renewal of the work license, whichever occurs first.
It is worth-noting that even though this is a new obligation under the Executive Regulation of the Foreign Capital Investment Law, the Ministry of Labour has previously issued instructions in the form of a circular requiring both foreign investor companies and local companies to employ at least a single Omani national.
The new amendment to the Executive Regulation of the Foreign Capital Investment Law enters into force today. You can read it full in English on the link below:
You can also view the consolidated version of the Executive Regulation of the Foreign Capital Investment Law on the link below: