Contracting firms will no longer be required to show proof of capital to work in Oman, according to a new ministerial decision issued by the Ministry of Commerce and Industry.
Ministerial decision 13/2017 on issuing regulations on companies and establishments on contracting sectors was issued by the Minister of Commerce and Industry HE Dr. Ali Al Sunaidi aimed at creating an attractive job opportunity for the national workforce.
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The decision states that proof of capital will not be required anymore and that contracting activities will not require a different commercial license thus companies and establishments will be able to register ‘contracting’ in the same license with the other activities already registered.
Companies and establishments will now need to write the company name and details on all cars, equipments and trucks that are being used for contracting purposes.
Source: TimesOfOman