Muscat : Foreign investors can now register on the Oman Business Platform, even if they are in their home country or remotely, without the need for a residency card, as announced by the Ministry of Commerce, Industry and Investment Promotion (MoCIIP).
Under this new system, foreign investors are permitted to own 100% of their businesses without having to demonstrate a minimum capital requirement. Additionally, permits will be issued within a specific timeframe.
To assist investors, the Oman Business Platform offers an investment guide service that outlines the necessary requirements and licenses for over 2,500 economic activities before commencing operations.
This service enables foreign investors to register on the platform from their home country, eliminating the need for a residence card. Through the application of Artificial Intelligence, investors are identified and provided with a unique secret number that grants them access to the platform, allowing them to initiate their business ventures.
To register and authenticate, investors can log in under 'The Non-Citizens/Non-Residents' category on the Oman Business Platform. Once the required data is filled in, the request is verified.
It is important to note that the Oman Business Platform also provides information on the list of businesses that are prohibited from being practiced by foreigners.
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