Name of the Organization : Ministry of Commerce and Industry
Type of Facility : Record New Commercial Registration
Country : Oman
Official Website : http://www.mocioman.gov.om/Menu/Home.aspx
Record New Commercial Registration :
Those who benefit from this service are investors and businessmen inside and outside the Sultanate plus the institutions and registered companies.
Related : Ministry of Commerce & Industry Renew a Commercial Registration Oman : www.statusin.org/4687.html
Who can request this service :
Business
Steps to follow to request the service :
A. Process Steps :
** The investor applies to Ministry – the Directorate of Investors Services (the one station) or any of its branches in the directorates / regional directorates for the registration of his/ her company.
** Afterwards, filling out record application in the investor’s form , signing the same signature used in the ID card for (individual institutions), signing the establishment contract draft in the investor’s form or submitting a new establishment contract to be signed according to the partner’s interest on condition that signature should be the same used in the ID card, enclosing required documents and certificates for the registration of the individual company /institution in the system of the one station.
** Completing registration process at the same time for individual institutions and Omani companies 100%, or sending company’s data for financial and legal verification or auditing if the company to be registered is under the foreign investment law.
** The system automatically sends a letter or an email, as required, to the applicant, mentioning the application number, time and date of application.
** The system automatically sends a letter or an email, as required, to the applicant, mentioning the application number, its status (approved, rejected, in need of information….etc,).
** In case it is approved, the investor pays the fees and procures the certificates and other documents related to the commercial registration.
** The investor can complete the procedures submitted by the other parties participating in the one station(Chamber of Commerce and Industry of Oman ,Muscat Municipality, Manpower, Oman Royal Police) when the main center location of the commercial record is in Muscat, then procuring documents and certificates from the one station location.
B. List all forms/applications that need to be completed to apply for the service :
** Investor record form and his signature from the owner/partner using the same signatures used in the civil card.
** An establishment contract of the company which is found in investor’s record form or submitting a new establishment contract for the company, then signing it by the partners.
** Submitting copies of the IDs of the owner/partners/ who are authorized to sign.
** Submitting samples of the signatures.
What documents are needed to process :
The documents which are generally required for the registration of a commercial record apart from the type of the legal shape :
** Copies of investors’ IDs.
** Submitting approval of the concerned parties for practicing the commercial activity before submitting the application if the intended activity is one of the activities that cannot be registered without pre approval from that party such as clinics, hospitals, universities, schools….etc.
** Filling out the forms related to parties taking part in the work in the office of investor services (the one station) if the registration application is tied to another application or approval from those parties such as the applications submitted for recruiting employees, or the applications related to environmental approvals issued from Ministry of Environment and Climate Affairs or the applications which require inspection to be carried out on them.
First : The documents required for the registration of individual Institutions:
** A copy of the civil card of Omani Gulf investors to be enclosed with an application form applying for the investor’s record, together with a sample signature of the owner and those who are authorized to sign.
** As for Gulf nationals applying for registration, they are to be treated like Omanis, but they need to submit ownership documents and rent contracts for the houses and shops before registration. The approvals issued for them to practice a commercial business are to be in accordance with the agreements, resolutions, and laws issued in this regard, in addition to the approval of the Ministry.
Second : For the registration of Omani companies 100%, the following are to be supplied:
** A copy of the civil card of the Omani investor is to be enclosed with the investor’s application form. Also, a form of the company’s establishment contract needs to be filled out, or submitting a new company’s establishment contract according to the interest of the investors; in addition to those who are entitled to sign. If the partner is of moral; then, he should submit the meeting minutes of the partners with regard to partnership, naming the person entitled to sign on the establishment contract; plus limiting the percentage of the partnership in it.
** Submitting what proves the capital of the company if it is more than O R 500000 such as a bank statement.
Third : The documents required for establishing an Omani Gulf company:
** A copy of the civil cards of the investors, Omani and Gulf, enclosed with the application form of investors record. Also, it is necessary to fill out a form of company’ establishment contract, or submitting a new company’s establishment contract according to the interest of the investors; in addition to those who are entitled to sign.
** It is required to submit a copy of the establishment contract or the main regulation which is to be approved if the Gulf partner is a moral personality, such as a company which is registered in one of the Gulf countries and what proves its registration in that country (a copy of the commercial record).
** It is required to submit the meeting minute of the partners. It should be approved if the Omani or Gulf national partner is a moral personality. This minute is to indicate the amount of the partner’s share and the person who is going to sign for him in the establishment contract of the company intended to be established in the Sultanate.
** The amounts of shares which the Gulf partners can own in the Omani companies are based on the laws, regulations and obligations which are valid and indicating this matter, and according to the commercial activities and the percentages allowed for ownership.
** The Gulf partner submits a recognized evaluation issued by a specialized evaluation office in the Sultanate if the share to be submitted is not monetary.
** The companies intended to be registered as joint companies between Omanis and Gulf nationals do not need any bank evidences, and can be registered by various capitals as stipulated in the Commercial Companies Law, similar to what is registered for Omanis.
The documents required to register a company under the Foreign Investment Law are :
** A copy of civil card of Omani investors/passport or civil card of foreign investors If the person is a normal personality, to be enclosed with the investor ‘s establishment application form ,or submitting a new company establishment contract according to the interests of the investors, plus , signatures samples of investors and those who are authorized to sign.
** Submitting a bank deposit statement for the amount of O R (150) thousand indicating the share of each partner in the capital.
** It is required to submit a copy of the establishment contract, and should be approved if the foreign partner is a moral it personality such as a firm or a company registered outside, and what indicates the registration in the foreign country (copy of the commercial record).
** It is required to submit a minute of the meetings and it should be approved if the foreign partner is a moral personality, indicating the share of this partner and the others who are authorized to sign for this person in establishment contract of the company intended to be established in Oman.
** The amount of shares that foreign partners can own in the Omani companies is based on the valid laws, regulations, and obligations that are maintained for this purpose.
** The foreign partner submits a recognized evaluation issued by a specialist office in Oman if the share to be submitted is non monetary.
Special conditions if any applicable :
** Omani or Gulf nationals investors are not entitled to own more than one individual institution.
** Foreign investors other than Gulf national investors are not entitled to open an individual institution.
** The commercial name of the company should show its legal ID (General Partnership Co limited Partnership company, limited liability co).
** Partners’ shares of the company’s capital should be mentioned in the company’s establishment contract and should not be divided.
** The partners in the General Partnership Company are mutually and in solidarity liable to company’s depts. As per all their money.
** Limited Partnership Company should have two groups of partners :
** Those are : one authorized partner or more who are mutually and in solidarity liable to company’s depts. As per all their money, and a partnership partner or more whose liability to company’s depts. is limited to their shares amounts in the company’ capital.
** Limited liability co is composed of two or more persons (normal or moral) whose liability is limited to the nominal value of their shares in the capital of the company which is mentioned in establishment contract. The number of partners in the Limited liability co cannot be more than 40 partners.
** The capital of General Partnership and Limited Partnership companies should not be less than O R 3000.
** The capital of the Limited liability cost should not be less than 0 R 2000.
** The capital of the companies under the Foreign Investment Law should not be less than 150000 and the share of the foreign investors should not be more than 70% of the company’ capital, and in some of the commercial activities the percentage be less than 49% of the company’s capital. What may be excluded of this condition are the companies which practice activities of communication and information technology where foreign investors can register a company with 100% foreign partnership, and a capital which is no less than O R 2000.
** The percentage of foreign partnership may increase to reach 100% for those companies that offer projects which take part in the development of the national economy upon approval by the Council of Ministers on condition that the capital is no less than O R 500000.
How the service is processed :
** The application is received at the same time of submission, then, notifying the applicant on the date and time of receipt through letters and email.
** Notifying the applicant about the status of the application (approved, rejected, or it needs more information) through letters and email.
How long will it take :
** As for Individual institutions & Omani Companies 100% : The application approval is to be in the same day
** As for the companies under the Foreign Investment Law : from 1 day to 2 days