Latest news with #TimesofOman
Times of Oman
7 hours ago
- Business
- Times of Oman
Oman streamlines business governance with key amendments to commercial companies regulations
In a significant move to enhance Oman's business regulatory environment, the Ministry of Commerce, Industry, and Investment Promotion (MOCIIP) has enacted Ministerial Decision 245/2025, amending pivotal provisions within the existing Commercial Companies Regulation (Ministerial Decision 146/2021). These amendments, effective from 11 July 2025, target specific operational and administrative requirements for companies operating within the Sultanate, aiming to reduce bureaucratic hurdles and clarify governance structures. Speaking exclusively to the Times of Oman, a representative of Mohammed Ibrahim Law Firm, a leading law office in Oman, explained that 'the first major amendment overhauls the procedure for appointing external company managers in Limited Liability Companies (LLCs). Previously, Article 92 mandated that applications to appoint a non-partner manager, particularly if the manager was non-Omani, required not only the manager's written approval but also written consent from their current employer. The written consent requirement from the Employer has been eliminated entirely.' The revised Article 92 now states that 'the appointment may be registered through the Ministry's electronic system based solely on the written approval of the appointed manager.' In practice, this reflects a shift in procedure: since the employer is the one initiating the appointment, separate employer consent is now deemed inherent and no longer needs to be uploaded as a standalone document. 'This procedural refinement removes redundant documentation and enables LLCs to appoint managerial talent—both Omani and expatriate—with greater efficiency, while still preserving necessary employer oversight through the system itself,' said Dr. Mohammed Ibrahim Al Zadjali, the Founding Partner of Mohammed Ibrahim Law Firm. He further added that a completely new provision, Article 13bis, has been introduced to explicitly define the scope of individuals authorised to legally represent a company as its 'authorised signatory.' This crucial addition clarifies that valid signatories must fall into one of four defined categories: partners collectively or individually; the owner of the company's capital; any member of its board of directors; or its manager or any of its financial and administrative workers. 'This definition provides much needed certainty regarding corporate representation, reducing ambiguity in contractual and legal dealings. It ensures that only individuals with a demonstrable stake or formal role within the company structure possess the inherent authority to bind the company, thereby enhancing transactional security and mitigating risks associated with unauthorised representations.' Companies subject to the Commercial Companies Regulation are granted a six-month transitional period to align their internal structures and documentation particularly manager appointment records and authorised signatory designations with these updated requirements. Failure to comply after this deadline could expose companies to administrative penalties or challenges regarding the validity of managerial appointments or contractual signatures. These changes underscore Oman's proactive approach to improving its regulatory framework to support business growth and investment, the expert said. (Mohammed Ibrahim Law Firm ([email protected]), (+968 244 87 600) was established 18 years ago and is serving clients through its offices in Muscat and Sohar, as well as operating on a request basis in other areas. It offers legal representation across a wide range of practice areas that include Labour Law, Corporate, Commercial, Contracts, Banking and Finance, International Trade, Foreign Investment, Insurance, Maritime Law, Construction and Engineering Contracts, International Arbitration, Intellectual Property and more).
See - Sada Elbalad
2 days ago
- Business
- See - Sada Elbalad
Omani Startup Launches Algae Air Purifier
Israa Farhan A pioneering Omani startup has introduced a sustainable air purification device powered by locally cultivated algae, designed to enhance air quality and reduce carbon emissions inside vehicles, according to the Times of Oman newspaper. Developed by a team of students and researchers, the algae-based purifier offers a smart, eco-friendly solution to combat air pollution and heat-related challenges in enclosed spaces. The device leverages the natural properties of algae to absorb carbon dioxide and release oxygen, improving air freshness without the need for frequent filter replacements. The purifier features a temperature sensor that activates the system when a vehicle's interior exceeds a set temperature, initiating simultaneous air cooling and purification. It also includes fragrance diffusion and operates without industrial filters, significantly reducing waste and long-term maintenance costs. Designed for broader use, the device is being tested for integration into classrooms, offices, factories, and potentially residential and public infrastructure. By combining local materials with green technology, this innovation positions Oman as a rising player in sustainable environmental solutions. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
Gulf Insider
3 days ago
- Business
- Gulf Insider
Expats In Oman Must Show Hotel, Return Flight Bookings For UAE Tourist Visa
Travel agencies in Oman have confirmed that new regulations require applicants for 30-day tourist and visit visas to the United Arab Emirates to submit hotel booking confirmations and return flight tickets at the time of application, according to the Times of Oman . Previously, travellers needed only a valid passport and a photograph. Under the updated requirements, all applications must now be submitted via the UAE's websites of ICP and GDRFA, or through the ICP App and Dubai Now with supporting documents, including confirmed accommodation and return travel plans. 'Travel agencies have been instructed to submit hotel and flight tickets with every visa application,' Soumava Mukherjee, General Manager of Travel City–Travel Point LLC, told the Times of Oman . 'If not, applications may face delays or even rejection.' Mukherjee added that individuals staying with relatives in the UAE must also submit a copy of a house lease agreement from their host. The changes come alongside rising visa costs. What once cost OMR30 is now being charged at rates between OMR40 and OMR50, depending on the agency. 'Travel agents have started charging anything in between OMR40 and OMR50 for the UAE visa,' said T. Sudheer, an Indian expatriate currently applying for a visa. The new requirements apply to both tourist and visit visa categories. According to Taufiq Uzzaman, Managing Director of Taufiq Travel and Tourism in Ruwi, the UAE authorities have introduced the policy as part of broader efforts to streamline visa processing and enhance regulatory compliance. 'This change, applicable to both tourist and visit visas, aims to streamline the process and ensure compliance,' Uzzaman told to the Times of Oman .
Zawya
6 days ago
- Business
- Zawya
Oman for foreign investors: Open doors with protected sectors
Oman actively encourages foreign investment under its Foreign Capital Investment Law, offering significant incentives such as national treatment, potential tax breaks, land access options, and strong guarantees against unfair expropriation. Foreign investors can establish projects across most sectors through the streamlined Investment Services Centre, benefiting from efficient approvals and freedom to transfer funds. Speaking exclusively to the Times of Oman, a representative of Mohammed Ibrahim Law Firm, a leading law office in Oman, explained that specific economic activities are reserved solely for Omani nationals to protect local culture, preserve traditional crafts and livelihoods, and support small-to-medium enterprises. These prohibitions are clearly defined in recent Ministerial Decisions. Key sectors off-limits to foreign investment include the manufacture and retail of traditional Omani products like halwa, kummah, khanjars, abayas, incense, and frankincense items, as well as craft production using materials such as leather, fronds, wood, silver, copper, stone, or pottery. Retail of these traditional goods alongside items like honey, natural/herbal products, souvenirs, and traditional weapons is also restricted. Numerous local service sectors are protected, including tailoring Arabian clothing, specific vehicle repairs and washes, driving instruction, laundry, hairdressing/barbering (outside tourist establishments), document photocopying, and building cleaning, said Dr. Mohammed Ibrahim Al Zadjali, Founding Partner of Mohammed Ibrahim Law Firm. Another spokesperson from the firm stated that basic retail including grocery shops, specialized sales of fresh produce, meat, fish, poultry, animal feed, cooking gas, scrap building materials including scrap iron, used vehicles, and telecommunication cards are generally reserved. Sensitive areas like labour recruitment, real estate brokerage/management, customs clearance, Hajj/Umrah transport, water transport/sale, certain fuel station operations, beekeeping, small-scale poultry operations, and marine fishing are also prohibited. Recent amendments added further restrictions, including mobile coffee shops, commercial PO box services, skin care services, plant nurseries, freshwater aquaculture, and event supply rentals. Existing foreign investments in prohibited activities at the time the relevant decisions took effect are generally allowed to continue but cannot be transferred to new foreign owners without specific ministerial approval. This framework effectively balances Oman's openness to international capital with the protection of vital national economic and cultural interests, the expert said. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
12-07-2025
- Business
- Times of Oman
Oman for foreign investors: Open doors with protected sectors
Oman actively encourages foreign investment under its Foreign Capital Investment Law, offering significant incentives such as national treatment, potential tax breaks, land access options, and strong guarantees against unfair expropriation. Foreign investors can establish projects across most sectors through the streamlined Investment Services Centre, benefiting from efficient approvals and freedom to transfer funds. Speaking exclusively to the Times of Oman, a representative of Mohammed Ibrahim Law Firm, a leading law office in Oman, explained that specific economic activities are reserved solely for Omani nationals to protect local culture, preserve traditional crafts and livelihoods, and support small-to-medium enterprises. These prohibitions are clearly defined in recent Ministerial Decisions. Key sectors off-limits to foreign investment include the manufacture and retail of traditional Omani products like halwa, kummah, khanjars, abayas, incense, and frankincense items, as well as craft production using materials such as leather, fronds, wood, silver, copper, stone, or pottery. Retail of these traditional goods alongside items like honey, natural/herbal products, souvenirs, and traditional weapons is also restricted. Numerous local service sectors are protected, including tailoring Arabian clothing, specific vehicle repairs and washes, driving instruction, laundry, hairdressing/barbering (outside tourist establishments), document photocopying, and building cleaning, said Dr. Mohammed Ibrahim Al Zadjali, Founding Partner of Mohammed Ibrahim Law Firm. Another spokesperson from the firm stated that basic retail including grocery shops, specialized sales of fresh produce, meat, fish, poultry, animal feed, cooking gas, scrap building materials including scrap iron, used vehicles, and telecommunication cards are generally reserved. Sensitive areas like labour recruitment, real estate brokerage/management, customs clearance, Hajj/Umrah transport, water transport/sale, certain fuel station operations, beekeeping, small-scale poultry operations, and marine fishing are also prohibited. Recent amendments added further restrictions, including mobile coffee shops, commercial PO box services, skin care services, plant nurseries, freshwater aquaculture, and event supply rentals. Existing foreign investments in prohibited activities at the time the relevant decisions took effect are generally allowed to continue but cannot be transferred to new foreign owners without specific ministerial approval. This framework effectively balances Oman's openness to international capital with the protection of vital national economic and cultural interests, the expert said. (Mohammed Ibrahim Law Firm ([email protected]), (+968 244 87 600) was established 18 years ago and is serving clients through its offices in Muscat and Sohar, as well as operating on a request basis in other areas. It offers legal representation across a wide range of practice areas that include Labour Law, Corporate, Commercial, Contracts, Banking and Finance, International Trade, Foreign Investment, Insurance, Maritime Law, Construction and Engineering Contracts, International Arbitration, Intellectual Property and more). (Mohammed Ibrahim Law Firm ([email protected]), (+968 244 87 600) was established 18 years ago and is serving clients through its offices in Muscat and Sohar, as well as operating on a request basis in other areas. It offers legal representation across a wide range of practice areas that include Labour Law, Corporate, Commercial, Contracts, Banking and Finance, International Trade, Foreign Investment, Insurance, Maritime Law, Construction and Engineering Contracts, International Arbitration, Intellectual Property and more).
