Oman's Commercial Registers Surge by 97% in Q1 2024

OMAN, 8 July, 2024 :  The Ministry of Commerce, Industry, and Investment Promotion announced that the cumulative number of commercial registers in Oman reached 450,768 by the end of Q1 2024. This marks a significant 97.2% increase compared to 7,816 registers in Q1 2023, rising to 15,412 in Q1 2024.

The ministry credits this growth to the "Oman Business Platform," an electronic portal that simplifies the registration process for investors, companies, and SMEs.

The cumulative commercial registers cover various legal formats, including individual merchants, government companies, limited liability companies, one-person companies, joint ventures, and more.

Geographical distribution of commercial registers by the end of Q1 2024 includes:

- Muscat: 170,050

- Buraimi: 12,911

- A’Dakhiliyah: 27,967

- A’Dhahirah: 12,525

- Al Wusta: 7,661

- South Al Batinah: 29,244

- South A’Sharqiyah: 25,589

- North Al Batinah: 60,060

- North A’Sharqiyah: 25,093

- Musandam: 3,906

Foreign investment registers totaled 47,287, with significant numbers in Muscat (33,078) and Dhofar (5,640).

The ministry aims to fully transition to electronic services, streamlining business startup procedures and enhancing Oman’s international business indices.

Source : www.omannews.gov.om