Oman announces executive regulations of Foreign Capital Investment Law – ZAWYA

Oman announces executive regulations of Foreign Capital Investment Law – ZAWYA

Oman announces executive regulations of Foreign Capital Investment Law. The article three determines the date of implementation of the executive regulations of the Foreign Capital Investment Law, that it will be applied from the day following the date of its publication in the Official Gazette.. Mohammed bin Rashid bin Muhammad al Badi, acting director of the legal department of the Ministry of Commerce and Industry (MOCI), said, The executive regulations of the Foreign Capital Investment Law will provide an environment, which is attractive for investment.. Article 2 of the executive regulations of the Foreign Capital Investment Law stipulates that the competent authority should prepare a register listing all licensed investment projects, approvals, permits, and licenses issued for them.. The article 7 of the executive regulations of the Foreign Capital Investment Law gives the right to the foreign investor, to entrust himself or through his representative a bank or legal or administrative or financial consulting offices of the Sultanate to examine the application for an investment license, applications for approvals, permits or licenses required for establishing the investment project.. The offices can submit the applications to the competent authority on behalf of the foreign investor and do their follow-up.. Muhammed Al