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July 14, 2024

Number of Commercial Registers in Oman Up By 97%

Muscat,

The Ministry of Commerce, Industry and Investment Promotion has said that the number of cumulative commercial registers that meet the legal formula endorsed in the governorates of the Sultanate of Oman until the end of the first quarter of 2024 stood at 450,768.

The ministry pointed out that, during the first quarter of 2023, the number of commercial registers stood at 7,816 as against 15,412 registers endorsed during the corresponding period in 2024, posting an increase of 97.2%.

In a recent report, the ministry attributed the rise in number of commercial registers to an approach espoused by investors, companies and owners of small and medium enterprises (SMEs), who submitted their transactions through the electronic portal “Oman Business Platform” which, it said, greatly boosted the completion of transactions and procedures to obtain commercial registers with full ease.

The Ministry added that cumulative commercial registers compatible with legal formats included those described as individual merchant, government company, limited liability company, one-person company, joint-venture company and closed joint stock company. This is in addition to commercial representation offices, street vendors, recommendation companies, home businesses, non-profit organizations, self-employment and branches of foreign companies, the ministry explained.

According to the Department of Information, Data and Statistics at the ministry, the number of cumulative commercial registers until the end of the first quarter of the year 2024 were distributed geographically as follows:

· 170,050 in Muscat Governorate,

· 12,911 in Buraimi Governorate,

· 27,967 in the Governorate of A’Dakhiliyah,

· 12,525 in the Governorate of A’Dhahirah,

· 7,661) in the Governorate of Al Wusta,

· 29,244 in the Governorate of South Al Batinah,

· 25,589 in the South A’Sharqiyah Governorate,

· 60,060 in the North Al Batinah Governorate,

· 25,093 in the North A’Sharqiyah Governorate,

· And 3,906 in the Musandam Governorate.

In the meantime, the number of cumulative commercial registers of foreign investment in the various governorates of the Sultanate of Oman stood at 47,287 until the end of the first quarter of 2024. They were geographically distributed as follows:

· 1,377 in Al Buraimi Governorate,

· 433 in A’Dakhiliyah Governorate,

· 176 in A’Dhahirah Governorate,

· 229 in Al Wusta Governorate,

· 1,953) in South Al Batinah Governorate,

· 700 in South Governorate A’Sharqiyah Governorate,

· 3,406 in North Al Batinah Governorate,

· 233 in North A’Sharqiyah Governorate,

· 5,640 in Dhofar Governorate,

· 33,078 in Muscat,

· And 62 in Musandam Governorate.

The Ministry of Commerce, Industry and Investment Promotion seeks to fully apply electronic transition to all the services that it provides to members of the public and to investors. The approach will help streamline procedures for starting businesses and encourage investors to establish projects that support the national economy, in addition to enhancing the Sultanate of Oman’s international indices on ease of doing business, competitiveness and innovation.

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