We would like to bring to your attention an important update from the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) regarding new regulations for foreign investors operating in Oman.

The decision follows a directive by the Council of Ministers that starting from April 2024, all foreign companies are given a year from the date of establishment to hire at least one Omani in return for reducing the fees of the CR by the government.

Eng. Ammar bin Sulaiman Al Kharusi, MOCIIP Director General  and CEO of Omani Investor Centre (IOC) stated that that in return for significantly reducing  the commercial registration fees in June 2023, he  emphasized that these measures aim to enhance the investment environment in Oman by removing the challenges facing investors and by encouraging foreign companies to contribute to local job creation, thus bolstering the nation’s development efforts.

Please note that companies failing to fulfil this requirement will be given a grace period of 30 days to rectify their situations. Additionally, an electronic monitoring system will be implemented to facilitate compliance checks by MoCIIP and the Ministry of Labour.

We at Bondoni can help you choosing the appropriate job profession for the new Omani employee. Should you have any questions or require further clarification, please do not hesitate to contact us.

As this is a new regulation, we will let you know if any new developments arise in the future.