Muscat: In an effort to mitigate the prevalence of fraudulent applications for foreign investment licenses, the Ministry of Commerce, Industry, and Investment Promotion has declared a suspension on applications from expatriates possessing limited skill sets. Nonetheless, professionals with specialized skills employed by corporations are still permitted to submit applications, provided they fulfill the requisite criteria.
In a formal announcement, the Ministry stated, "In alignment with the measures implemented by the Investment Services Centre to counter the issue of fraudulent foreign investment license applications, and in continuation of the recent actions taken concerning the suspension of licenses for individuals holding special individual licenses as per the Ministry of Labour's categorization for private sector entities, the Centre has declared a suspension on applications from expatriates in professions classified as having limited skills by the Ministry of Labour for private sector establishments. However, skilled professionals employed by companies are still eligible to apply for a license, provided they receive approval from the company's owner and provide evidence of their financial stability."
The Centre reaffirmed its dedication to promoting economic growth, enhancing the investment climate, and cultivating a more conducive business environment. The Ministry extended its appreciation to the community for their continuous engagement and valuable insights, which are highly valued.
The Ministry urges the public to report any violations or seek support through the official channels of the Investment Services Centre or by contacting the toll-free number 80000070.
