OMAN: DUQM SEZ Cuts Small Business Registration Fees
30 March 2022
Small establishments operating in Oman’s Special Economic Zone at Duqm (SEZAD) will now pay lower commercial registration fees, after the Public Authority for Special Economic Zones and Free Zones (OPAZ) approved a reduction, according its press release. The new fees for small and medium-sized enterprises (SMEs) operating within the SEZAD have been slashed to between OMR30 (US$78) and OMR40 (US$104) for registering a new company, and OMR12 for opening a branch of an existing locally-established company. Previously, fees were much higher at about OMR1,000 to register a business. The new rates came into force on 6 March 2022, and bring SEZAD fees in line with the Omani government online investment portal, Invest Easy.
OPAZ has steadily improved facilities and incentives for SMEs, such as slashing service fees by 50%. The new rates and incentives are expected to encourage entrepreneurs to expand their ventures in the zone and help develop projects supporting the government initiative to create jobs and boost GDP growth.
- Finance & Investment
- Middle East