Adoption of new Foreign Capital Investment Law

On 1 July 2019, Oman's Ministry of Legal Affairs has published Royal Decree No. 50/2019, which promulgated the country's new Foreign Capital Investment Law. The Foreign Capital Investment Law shall enter into force six months after publication thereof. Key features are: 1) The Law streamlines procedures and permits necessary to start foreign investment within the Sultanate through the Investment Services Centre of the Ministry of Commerce and Industry. 2) It expands the sectors open to foreign investors to include strategic projects that contribute to development. 3) It offers advantages, guarantees and incentives to attract foreign investment and grants the foreign investor the necessary guarantees for its investment project. A decision by the Council of Ministers may provide preferential treatment for foreign investors in accordance with the reciprocity principle. Land and real estate required for the investment project may be allocated by way of a long-term lease or usufruct.

• Type:

  • Entry and establishment (Ownership and control)
  • Promotion and facilitation (Investment facilitation , Investment incentives)

• Industry:

  • Not industry specific

• Sources:

  • Ministry of Legal Affairs, Royal Decree No 50/2019 Promulgating the Foreign Capital Investment Law, http://www.mola.gov.om/eng/legislation/decrees/details.aspx?Id=1091&type=L, 01 Jul 2019
  • Orbitax, Oman Publishes Decree on New Foreign Capital Investment Law, https://www.orbitax.com/news/archive.php/Oman-Publishes-Decree-on-New-F-39259, 05 Jul 2019
  • Oman Daily Observer, Creating a favourable investment environment for Oman, https://www.omanobserver.om/creating-a-favourable-investment-environment-for-oman/, 02 Jul 2019