Muscat: The Ministry of Commerce and Investment Promotion (MOCIIP) has announced that foreign investors can now register on the Oman Business Platform, regardless of their location or residency status.
This means that investors can register even if they are in their home country or operating remotely. The Ministry also stated that foreign investors are now permitted to own 100 percent of their businesses without the requirement of demonstrating a minimum capital.
Additionally, permits will be issued within a specified timeframe.
The Investment guide service provided by the Oman Business Platform offers valuable assistance to investors by providing them with comprehensive information about the necessary requirements and licenses for over 2,500 economic activities before they engage in any business operations.
This exceptional service enables foreign investors to conveniently register on the Oman Business Platform from their home country, eliminating the need for a residence card. Through the implementation of Artificial Intelligence, the investor's identity is verified, and a unique secret number is sent to them, granting access to the platform and allowing them to commence their business endeavors.
To register and authenticate themselves on the Oman Business Platform, investors can simply log in under 'The Non-Citizens/Non-Residents' category. Once the investor has provided all the required information, their request will be thoroughly verified.
Furthermore, the Oman Business Platform portal also provides a comprehensive list of businesses that are prohibited from being practiced by foreigners, ensuring that investors are well-informed about the limitations and regulations in place.
