Muscat – In a statement highlighting its commitment to overseeing and regulating investment licenses under the Foreign Capital Investment Law and its executive regulations, the Ministry revealed that it has observed a number of violations.

The Ministry’s Investment Services Centre pointed out that while many companies have complied with the licensing requirements, several violations have also been identified. These breaches pertain to non-compliance with the legal procedures for obtaining investment licenses, as outlined in the Foreign Capital Investment Law and its executive regulations.

The Centre is actively continuing its process of auditing and monitoring the investment licenses of companies subject to this law. The goal is to ensure that all businesses comply with the licensing requirements set forth.

The Ministry emphasizes that companies must meet all the specified conditions to avoid legal repercussions. The Investment Services Centre warns that failure to comply will result in the implementation of legal measures as outlined in the law.

To facilitate compliance and reporting of any issues, the Ministry encourages businesses and individuals to use the quick response code or contact the call centre at 80000070 for prompt assistance. The Ministry’s commitment to enforcing these regulations aims to foster a transparent and lawful investment environment.