Reducing commercial registration fees from OMR 1000 to between OMR 30 and 40 only

Reducing commercial registration fees from OMR 1000 to between OMR 30 and 40 only

Continuing efforts to support SMEs in SEZAD

Muscat - 12 March 2022

Within the context of the support given by the Public Authority for Special Economic Zones and Free Zones (OPAZ) to small and medium enterprises (SMEs), it was approved to reduce commercial registration fees for enterprises operating within the boundaries of the Special Economic Zone at Duqm
(SEZAD). The value of the registration fees allocated to SMEs for opening a new company has been amended to be between OMR 30 to  40 only, and the fees for opening a branch of a local company has become OMR 12 instead of the previous fee of up to OMR 1,000.

Dr. Said bin Khalifa Al Turashi, In- Charge of Managing Operation of Commercial Registration & Business Services Department of OPAZ, explained that the new facilities package approved by the Authority’s Board of Directors which include granting SMEs reduced fees and improved incentives, in addition to other fees related to renewing the commercial register and the operation related to managing the business. The decision on fees for services provided to projects operating in the Special Economic Zone at Duqm aims to facilitate the business and investment environment and to support SMEs, or emerging enterprises operating within the zone.

He added that OPAZ continues to provide facilities and incentives for entrepreneurs in SMEs, including a 50% reduction in fees for all services provided by OPAZ, in order to create a stimulating investment environment for entrepreneurs and to enhance their opportunities to benefit from the economic growth in the economic and free zones, adding that this incentive will encourage entrepreneurs to expand their works, create different projects in line with the requirements  of Megaprojects and the continuous growth in the zone.

It is worth noting that the Public Authority for Special Economic Zones and Free Zones has been working since the issuance of Royal Decree No. 105/2020 to promote and support activities of SMEs by providing many facilities and advantages that enable the enterprises to benefit from the facilities provided, whose systems are characterized by speed and efficiency, through the authority’s one-stop channels, whose electronic services extend to all special economic zones and free zones. The most prominent of them was the review and re-engineering of procedures, and this is part of the efforts aimed at diversifying the economic stimulus and providing attractive advantages and incentives for entrepreneurs.