MOCIIP enforces Omanisation policy for foreign investor firms
The Ministry of Commerce, Industry and Investment Promotion (MOCIIP) has mandated foreign investors to employ at least one Omani citizen in their commercial firms within one year of initiating operations.
The ministry announced that this measure will come into effect from April. The Omani employee must also be registered with the Social Protection Fund.
This measure is in implementation of a Council of Ministers decision regarding reduction of commercial registration fees for foreign investors and treating
them on par with Omani investors, with the obligation to employ at least one Omani national.
According to Ammar bin Sulaiman al Kharousi, Director General of Investment Services Centre at MOCIIP, the decision follows a series of initiatives aimed at enhancing the investment environment in Oman.
Starting April 1, MOCIIP will implement an administrative obligation on the Oman Business Platform, prohibiting transactions for foreign investor companies that still need to comply with the employment requirement after one year of establishment. Companies will be given 30 days to rectify their situation, failing which they will face notifications and monitoring by relevant government agencies.
Kharousi informed that the ministry is making continuous efforts to enhance the attractiveness of the investment environment in the sultanate by removing obstacles for investors, whether local or foreign.