Foreign investors’ commercial registration fees reduced

Muscat: In complementation of the efforts made by the federal government to boost the position of the non-public sector in creating the nationwide financial system, the Council of Ministers assembly chaired by His Majesty Sultan Haitham bin Tarik on Sunday determined to chop down business registration charges for international buyers and equate them with Omani buyers.

The transfer is to encouraging the institution of companies, entice extra investments and enhance competitiveness in authorities tenders by offering a chance for a bigger variety of corporations.

This shall be executed in response to particular laws to be decided by the authorities involved.

However, the Council of Ministers additionally authorized exempting corporations contesting tenders from offering momentary insurance coverage (the bidding assure submitted as a situation for getting into the tender).