New foreign investment rules signal move to liberalization

Article Abstract:

Oman's 1993 Commercial Companies Law (CCL) and Foreign Business and Investment Law (FBIL) are intended to stimulate foreign investments in the commercial sector. The new laws permit foreign investments in the trade, services and tourism industries, and continue to allow foreign financing of agricultural, manufacturing and construction projects. The laws also relax restrictions on foreign ownership of Omani corporations, allowing foreigners to own as much as 65% of an Omani business. Both the CCL and the FBIL enhance the investment privileges already granted to foreign Gulf Cooperation Council members.

Foreign investments, Foreign corporations

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Ministry changes practice on imports by non-agents

Article Abstract:

Oman's Ministry of Commerce and Industry declared on Apr 5, 1993 that non-agent importers will no longer be required to get the permission of registered agents before moving goods through customs. Importers will also no longer have to pay the registered agents' commissions. Commodities that can be imported under the new rule include agricultural and construction machinery, office equipment, air conditioners, refrigerators, washing machines, motor vehicles, televisions, watches, bicycles, stoves, radios, tape recorders and generators.

International trade, Imports

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Commercial Companies Law: important amendments

Article Abstract:

Article presents a summary of amendments to Oman's Commercial Companies Law, which went into effect on 10/01/02.

Legal issues & crime, Government regulation (cont), Government regulation, Legal/Government Regulation, Oman, Commercial law, Corporation law

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